Strategic planning key factor in tangible–intangible results in microenterprises

Abstract

Purpose The objective of this research is to know the degree of influence that strategic planning (SP) exerts on the tangible and intangible results of business microenterprises in the state of Guanajuato, Mexico. Design/methodology/approach The methodological design was quantitative, explanatory, observational and cross-sectional, where a sample of 407 young leaders of microenterprises from the state of Guanajuato, Mexico, was obtained. To evaluate hypotheses, a structural equation model (SEM) was developed. Regarding the goodness and adjustment indices of the SEM, they were absolutely acceptable. Findings The results obtained through Pearson’s correlation show that there is a positive and significant relationship between SP and the tangible and intangible results of microenterprises. In addition, through the results obtained with the SEM model, it is statistically demonstrated that SP positively and significantly influences the tangible and intangible results of microenterprises in the state of Guanajuato, Mexico. Research limitations/implications In this research, only SP was valued as a variable that intervenes in the process of achieving tangible and intangible results to achieve the business objectives of entrepreneurial microenterprises in the state of Guanajuato. It is essential to point out that other variables that intervene in the process must be considered to generate tangible and intangible results. It is recommended to carry out further research under these variables to identify strategies for improving entrepreneurial microenterprises for their growth, sustainability and rapid positioning in a highly competitive market. Practical implications SP represents one of the tools to achieve the success of microenterprises through tangible and intangible results. However, microenterprises show a need to involve the use and application of SP to define clear indicators that contribute to obtaining satisfactory tangible and intangible results. Originality/value The findings are relevant and of great value, because there is currently not enough research that focuses on the variables analyzed, in this sense, SP and the tangible and intangible results of young entrepreneurial leaders of microenterprises in the Mexican context. The limitations of this study lie in the low participation and interest of young microenterprise entrepreneurs in the state of Guanajuato, Mexico.

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“…Organizational leaders are required to have the competence to design various policies and be able to convey the vision, mission, organizational values, and various strategies to be implemented (Cook & Zhang, 2019;Lasrado & Nyadzayo, 2020). The strategic planning instrument is defined as an organization's ability to design various ways in which organizational development is carried out (Ló pez-Lemus et al, 2021;Toke & Kalpande, 2022). Various strategic plans carried out by organizations include adjusting, measuring, and adapting to changes in the organizational environment (Cook & Zhang, 2019;Toke & Kalpande, 2022;Vinyard, 2015).…”

“…These criteria offer an overarching framework for assessing organizational performance. Another benefit for organizations of this criterion is as a basis for self-assessment to obtain the best results (Almeida et al, 2021;Ló pez-Lemus et al, 2021). The Baldrige criteria consist of seven pillars, namely: leadership; strategic planning; focus on consumers and markets; analysis and knowledge management; focus on human resources; management of business processes and results management.…”

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“…SP is a critical strategy in the planning and development of SMEs. SP as an analytical process is carried out to focus on long-term goal setting and ongoing operational implementation [3]. SP is a systematic process for establishing competitive advantage strategies for MSMEs and improving marketing performance.…”

“…SP plays a crucial role in MSMEs dealing with tough economic competition, decision-making, and managing resources. MSMEs are the leading organizations that show the most significant representation and contribute significantly to economic development and marketing performance [3]. The implementation of SP plays an essential role in achieving the success of MSMEs, building job creation, creating flexibility in new situations, fostering an entrepreneurial spirit and product differentiation and becoming part of the SME subindustry.…”

“…SP is one of the relevant factors in achieving sustainability and profitability of MSMEs in the short, medium and long term. Therefore, SP is considered a key strategy in the planning and development of entrepreneurs [3]. However, according to Meshko and Savinova [8], SP is insufficient to improve entrepreneurial performance.…”