Findings on the nature and practice of strategic planning are presented from a sample of 135 large companies based in Turkey. Attitudes towards a range of strategic planning issues and the use of a variety of tools and techniques of strategic planning are reported.
Economic forecasting models, strength, weaknesses, opportunities, and threats (SWOT) analysis, scenario construction and financial analysis of competitors are the most frequently used tools/techniques of analysis.
Respondents indicate a very favorable attitude towards strategic planning which is seen as important by firms in the sample. Comparison of foreign‐owned firms and local firms indicates that the foreign‐owned firms adopt a broader and deeper repertoire of tools and techniques of strategic planning than do local firms, and they tend to believe that the strategy process is more deliberate than do local firms.
Need to look at the relationship between strategic planning and organizational performance.
Indicates a need for longer‐term planning horizons and more emphases on the implementation and evaluation of strategy.
One of few studies to examine strategic planning of firms in a transitional economy.
