Explaining the lack of strategic planning in SMEs: The importance of owner motivation

Calvin Wang · Elizabeth Walker · Janice Redmond

204 citations0/0 files storedAustralasian Journal of Paramedicine

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Strategic Planning and Analysis Management and Organizational Practices Organizational Strategy and Culture

Abstract

Considerable evidence shows that strategic planning leads to increased firm performance. Yet, the majority of SMEs do not plan and the reasons why are not well understood. This article questions the common approach to understanding this problem based on identifying business barriers to planning. For the majority of SME owner operators, business performance often ranks far behind intangible goals such as autonomy, personal satisfaction and lifestyle. Strategic planning may therefore have little value to owner-operators driven by such motivators. This article presents an alternative perspective to the issue by arguing that owner aspirations are integral to whether or not SMEs strategically plan.

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References

1995Understanding the small business sector 1992Research on Women Business Owners: Past Trends, a New Perspective and Future Directions 1991Innovation and small firms 1994STRATEGIC PLANNING AND FIRM PERFORMANCE: A SYNTHESIS OF MORE THAN TWO DECADES OF RESEARCH.1998Does one size fit all? exploring the relationship between attitudes towards growth, gender, and business size 1997Women's Organizational Exodus to Entrepreneurship: Self-Reported Motivations and Correlates with Success 2003What Do They Think and Feel about Growth? An Expectancy-Value Approach to Small Business Managers‘ Attitudes toward Growth 2004What Success Factors are Important to Small Business Owners?

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