PLANNING FOR EXISTING MARKETS: AN EMPIRICAL STUDY

Formal, systematic approaches to formulating the pattern of objectives, major policies, and plans of the business enterprise insofar as they affect its relationship with its environment have been widely advocated (e.g., Ansoff, 1957; Gilmore and Brandenberg, 1962; Grinyer, 1971) and increasingly adopted during the last ten years. Early studies by Hewkin and Kempner (1968), Ringbaak (1969), Irving (1970), Schollhammer (1970), Strigel (1970), and Taylor and Irving (1971) suggested that corporate planning was neither as widespread nor as sophisticated as the literature suggested; but more recent publications by Wagle and Jenkins (1971) and Ringbaak (1972) have suggested wider adoption.

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