Strategic Planning, Organisation Characteristics, and Firm Performance: A Review of the Literature

Abstract

The association between strategic planning, nature of organizations and performance of companies is the main primary objective of this paper. Main components of strategic planning like vision, mission, objective setting has been studied over here. Current studies from this field have been observed for reference. Other factors like years of operations, nature of the firm, size of the firm, ownership nature and other details have further studied. This study aims to capture the research gap present in this area. After referring to the numerous studies this study suggests the need of studying organizational characteristics as a moderator variable. This study has proposed a conceptual framework for carrying out research by academicians and interested researchers of this domain. All the propositions suggested here will be immensely beneficial for the managers to prepare strategies and managing their firms.