STRATEGIC PLANNING AND FINANCIAL PERFORMANCE: MORE EVIDENCE*

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 briefiy 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.