A recently published meta-analysis of the impact of strategic planning on financial performance omitted a major study of corporate planning practice in Fortune 500 manufacturing firms. This article briefly reviews that study in light of the results of the meta-analysis. Additional analysis examines performance and firm survival over a longer time period than in the original work. The overall conclusion is that a small but positive relationship between strategic planning and performance exists, and persists.
Capon, Noel, John Farley, and James Hulbert. "Strategic Planning and Financial Performance: More Evidence." Journal of Management Studies 31, no. 1 (1994): 105-10.
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