The relationship between planning sophistication and performance in small businesses

摘要

Numerous articles in academic publi- cations as well as practitioner-oriented journals have recognized the importance of planning for small businesses. Yet there is surprisingly little empirical work that has examined the relationship between planning sophistication and organizational performance among small businesses. The present study reports the results of A survey of 253 small firms. Specifically, It seeks to determine whether these com- Panies prepare written strategic plans And, if so, the extent to which their plan- Ning process attempts to identify external Factors and includes quantified objec- Tives and budgets.