Özet:

Organizations, both large and small, are faced with uncertain business conditions, competitive market environments and rapid technological changes. SMEs, are struggling to survive and are focusing on ways to improve their performance. The main objective of this study was to examine the effects of strategic planning on performance of medium sized firms. It examined the relationship between the specific steps that make up strategic planning and firm performance. To achieve this, data was collected from a sample of 47 medium sized enterprises. The results indicated that strategic planning significantly influences organizational performance. The findings reinforce the need for business owners and entrepreneurs to embrace strategic planning in order to gain competitive advantage and to ensure survival in the competitive market. Key Words: Strategic Planning, Environmental Analysis, Organizational Direction, Strategy Formulation, Performance.

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