Anne runs a small bakery on the main street of a resort town.Though hers was the only bakery around, the business had been suffering during the economic slowdown, and she was contemplating whether she should attempt strategic planning.Anne should be aware of what research finding regarding strategic planning?

Question

Quizplus · Accepted Answer

One analysis of several studies found that strategic planning was appropriate not just for large firms.Companies with fewer than 100 employees could benefit as well, although the improvement in financial performance was small.Nevertheless, the researchers concluded, "it may be that the small improvement in performance is not worth the effort involved in strategic planning unless a firm is in a very competitive industry where small differences in performance may affect the firm's survival potential."

Anne Runs a Small Bakery on the Main Street of a Resort