News about Small-Business
Since the mid-1970s, we can conclude that the researchers, the distinction between small and large business needs, sophistication, and range of strategic planning. Bracker, and Pearson (1986), Rue and Ibrahim (1998), Perry (2001) and the Wijewardena, Fonseka and Zoysa, Perera (2004) all make definitions for strategic planning, taking into account the uniqueness of small businesses, and allows for the fact that small businesses will not be able to draw on the administrative and material resources in a manner that is similar to that of a large organization. So-called studies findings suggest a relationship between the strategic planning and performance. Nevertheless, the findings are mixed. A survey of twenty-six experimental studies on Miller and Cardinal (1994) to identify a significant positive association between strategic planning and small business performance. Robinson (1982) found significantly high profitability, as well as an increase in sales and return on sales and the number of full-time employees in a group of small businesses that employ external consultants for strategic planning. Compared to other businesses, and Bracker discovered Pearson (1986) a significant increase in income and remuneration per entrepreneur in the enterprise that prepared strategic plans (the highest of the four designated levels of strategic planning). No significant increase was detected in the target salary expenses divided by the sum of sales. A differentiation in the sales increase was found by the Rue and Ibrahim (1998) small business that incorporated written planning (Basic or Advanced), as opposed to other businesses. Perry (2001) found a significant difference in the degree to which planning was carried out in small businesses that did not applied for bankruptcy as opposed to those who did. Wijewardena et al. (2004) define three levels of planning: no written plan; basic planning; and detailed planning. The findings show that the level of planning is in direct proportion to the degree of increase in sales. Yusuf and Saffu (2005) classify the three levels of planning: low; moderate; and high. A connection was found between the increase in sales and the low level of planning. Found no relationship between the strategic planning and the increase in market share and profitability.
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