Does Strategic Planning Improve Organizational Performance? A Meta‐Analysis

Abstract Strategic planning is a widely adopted management approach in contemporary organizations. Underlying its popularity is the assumption that it is a successful practice in public and private organizations that has positive consequences for organizational performance. Nonetheless, strategic planning has been criticized for being overly rational and for inhibiting strategic thinking. This article undertakes a meta‐analysis of 87 correlations from 31 empirical studies and asks, Does strategic planning improve organizational performance? A random‐effects meta‐analysis reveals that strategic planning has a positive, moderate, and significant impact on organizational performance. Meta‐regression analysis…

• NR
  National Research Foundation

  Award: NRF-2017S1A3A2067636
• EU
  Erasmus Universiteit Rotterdam
• NR
  National Research Foundation of Korea

  Awards: 2017S1A3A2067636, NRF-2017S1A3A2067636