Strategic Planning and Organizational Success: An Empirical Study on Small Businesses in the Service Sector in Bahrain
DOI:
https://doi.org/10.51325/162qfn16Keywords:
Strategic Planning, Organizational Success, Small Businesses, Service Sector, BahrainAbstract
Strategic planning has been proven to be an effective organizational tool that plays a vital role in organizational success and performance. Strategic managers understand the importance of the formulation and execution of strategic plans that can guide the direction of the organization, its decision-making process, implementation, evaluation, and control of plans. Strategic planning level and intensity are influenced by several managerial, organizational, and environmental factors and can vary from one organization to another. This paper mainly aims to investigate the impact of strategic planning on organizational performance. The study covers the services sector in Bahrain by implementing qualitative and quantitative approaches based on interviews and surveys with managers and other members in the strategic planning team from small businesses in Bahrain. Results showed that environmental scanning and resource availability have an insignificant impact on organizational success, while strategy formulation, implementation, and evaluation have a significant impact and high correlation on organizational success and performance in the services sector in Bahrain.
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