This research is aimed at gaining an insight into the benefits of using traditional strategic planning tools in a turbulent economic environment by way of empirically examining the relationship between strategic planning tool usage and organizational performance in a group of Saudi organizations. …
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Data Analysis Techniques Used 49 3.7. Formulation of Hypotheses 50 3.8. Limitations of the study 50 3.9. Summary 51 Chapter – 04: Findings and Discussion 53 4.1. Introduction 53 4.2. Descriptive Findings 53 2.3.4. High Performing Companies 53 2.3.5. Low Performing Companies 55 4.3. Regression Analysis for Impact of Using Planning Tools on Performance 57 2.3.6. High Performing Companies 58 2.3.7. Low Performing Companies 60 2.3.8. Comparison of Means 62 4.4. Regression Analysis for Strategic Planning Processes Approach 64 2.3.9. Usage of Approach by High Performing Companies 66 2.3.10. Usage of Approach by Low Performing Companies 67 2.3.11. Comparison of Means 69 4.5. Discussion of the Results 71 4.6. Summary 73 Chapter – 05: Conclusions and Recommendations 74 4.7. Conclusion of the study 74 4.8. Testing the Validity of Hypotheses 74 4.9. Recommendations 75 References 76 Appendix – 1: Survey Questionnaire 84 Appendix – 2: Responses 88 List of Tables Table 1: Strategy Formation: 10 Schools of thought 20 Table 2: Companies selected as high performing and low performing organizations in Saudi Arabia 45 Table 3: Descriptive Findings – Usage of Strategic Planning Tools by High Performing Companies 55 Table 4: Descriptive Findings – Usage of Strategic Planning Tools by High Performing Companies 57 Table 5: Regression Analysis – Usage of Strategic Planning Tools by High Performing Companies 59 Table 6: Regression Analysis – Usage of Strategic Planning Tools by Low Performing Companies 61 Table 7: Comparison of Means – Usage of Strategic Planning Tools by companies 63 Table 8: Independent Sample Test - Usage of Strategic Planning Tools by companies 64 Table 9: Descriptive Findings – Usage of Different Strategic Planning Process Approaches 65 Table 10:...
The paper tells that in the Kingdome of Saudi Arabia, many organizations do not use strategic planning in spite of the fact that failure to plan effectively is considered a primary contributor to business failure. In such contexts, only 40 % of the businesses survive beyond six years of operation. Understanding the benefits of using strategic planning tools and systems in an unstable economic environment could lead to adoption of such tools and systems by more organizations, and lead to improvement in the business survival rate, particularly in those countries or regions where organizations are not apt to do the same. Many strategy theorists suggest that use of analytical strategic planning tools associated with early formal planning systems, such as competitive and environmental analysis carried out by organizations with reference to the frame of reference in which they operate, leads to an improved organizational performance. Their view is consistent with the prescriptive schools of thought on strategy in which strategy is developed based on prescribed formal planning or analytical processes versus the descriptive view in which strategy develops from an owners vision, emerges over time, or is shaped as a response to an organization’s environment. As defined by Lawrence and William, strategic planning is a series of decisions and actions that develops efficient and effective strategies for organizations to assist them in attaining their goals and objectives.
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2 Pages(500 words)Case Study
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