The value of formal planning for strategic decisions: Reply

Armstrong, J. Scott

doi:10.1002/smj.4250070207

Cited by 64 publications

(27 citation statements)

References 9 publications

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“…It has long been recognized that strategy, whether a formally planned or emergent activity, is important in the success or failure of firms (Armstrong, 1982). Therefore, managers seeking to enhance performance are well advised to blend strategic planning activities to fit the needs of their particular organizations.…”

Section: Discussionmentioning

confidence: 99%

“…For the past three decades numerous studies have been conducted examining the relationship of formal strategic planning with firm financial performance, and there have been at least ten published literature reviews addressing the topic [4,7,9,19,24,34,39,40,42,47]. Early studies comparing formal with informal planners resulted in conflicting evidence as to the performance benefits of planning.…”

Section: Formal Strategic Planning and Firm Performancementioning

confidence: 99%

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Planning and firm performance: effects of multiple planning activities and technology policy

Shrader¹,

Chacko²,

Herrmann³

et al. 2004

IJMDM

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Our concern in this paper is a longstanding one in the field of strategic management-the effect of strategic planning on firm performance. However, we argue that strategic planning is best examined in context of both its formal and informal aspects, as well as with operational planning and technology policy. From a survey of 150 manufacturing firms, planning and performance data were obtained from top managers. Our results provided support for the general argument that both formal and informal planning pay, and that both operational planning and technology policy have significant associations with firm performance. Our concern in this paper is a longstanding one in the field of strategic management-the effect of strategic planning on firm performance. However, we argue that strategic planning is best examined in context of both its formal and informal aspects, as well as with operational planning and technology policy. From a survey of 150 manufacturing firms, planning and performance data were obtained from top managers. Our results provided support for the general argument that both formal and informal planning pay, and that both operational planning and technology policy have significant associations with firm performance.

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Section: Discussionmentioning

confidence: 99%

Section: Formal Strategic Planning and Firm Performancementioning

confidence: 99%

Planning and firm performance: effects of multiple planning activities and technology policy

Shrader¹,

Chacko²,

Herrmann³

et al. 2004

IJMDM

View full text Add to dashboard Cite

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“…The framework suggested by this study is a strategic planning tool in the sense that it deals with and provides answers to three key questions of culinary tourism planning at destination level, as suggested by strategic planning literature (see, for instance, Armstrong, 1986;Bryson, 1988;Mintzberg, 1981). Generally, strategic planning deals with three key questions: (i) What do we do?…”

Section: Culinary Tourism: Suggesting a Strategic Planning Toolmentioning

confidence: 99%

Culinary tourism assets and events: suggesting a strategic planning tool

Sotiriadis

2015

International Journal of Contemporary Hospitality Management

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Access to this document was granted through an Emerald subscription provided by emerald-srm:463575 [] For AuthorsIf you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation.

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“…Some scholars argue that formal strategy-making processes offer management a robust tool to navigate effectively in an increasingly turbulent and competitive business environment (Timmons et al, 1987;Robinson and Pearce, 1988;Armstrong, 1982). Other scholars question the usefulness of formal strategic planning, particularly in uncertain environments (Mintzberg et al, 1998;Hamel, 1996), and challenge the assumption that firms can effectively map out the future by largely drawing on the past in a formalized manner.…”

Section: Introductionmentioning

confidence: 99%

Formal strategic planning: annual raindance or wheel of success?

O’Regan

Ghobadian

2007

Strategic Change

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The findings from the research presented in this paper indicate that strategic planning is now an established management tool with over half of all small and medium size enterprises (SMEs) engaging in formal strategic planning. ᭹ However, some SMEs fail to consider or include some vital components in their strategic plans, leading to the conclusion that many formal strategic plans are little more than a paper exercise. ᭹ From an operational perspective, formal strategic planning firms place a higher emphasis on the attributes of strategic planning. However, there are no significant differences on the barriers to strategy implementation in formal or non-formal planning firms.

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The value of formal planning for strategic decisions: Reply

Cited by 64 publications

References 9 publications

Planning and firm performance: effects of multiple planning activities and technology policy

Planning and firm performance: effects of multiple planning activities and technology policy

Culinary tourism assets and events: suggesting a strategic planning tool

Formal strategic planning: annual raindance or wheel of success?

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