Strategic Planning in Entrepreneurial Companies

Abstract

Innovation is wheel of change and development. Moreover, strategic planning is wheel and new mode of innovation and entrepreneurship. A growing body of literature, under the title of strategy planning and entrepreneurship, addresses the question of how strategic planning impacts on company's performance, competitive advantages, growth and market share. Therefore, almost every section in the chapter contains reports from empirical research conducted to investigate the different aspects of strategic planning in entrepreneurial companies worldwide. The research includes the most interesting parts of planning and entrepreneurship such as: environment, innovation, planning outcomes, benefits, limitations, etc. We find that surveyed companies introduce planning mostly because of their desire for growth, most of them use the entrepreneurial strategic mode, and their average time horizon for planning is less than three years. Importantly, this chapter opens the scientific door and avenue for new soundly empirical/theoretical studies and creative insights about strategic planning and entrepreneurship.