The impact of strategic planning on the management of small and medium enterprises

Dr. Mohamed Rashdi Abbas Fakhr presented in his research on the impact of strategic planning on the management of small and medium-sized enterprises (SMEs) the following:

 Strategic planning plays a vital role in projects in general, acting as a crucial reference for the methods of work that should be followed to achieve a competitive advantage for organizations, particularly small and medium-sized enterprises (SMEs). Strategic planning contributes to analyzing the project environment by identifying strengths and weaknesses, encompassing the skills of existing employees, their educational levels, the organizational structure, or the administrative structure of the company. This is done to enhance the performance of the enterprise.

Significance of Small and Medium-Sized Enterprises (SMEs):

SMEs hold utmost importance in the economy as their focus helps strengthen the national economy, address unemployment issues, and reduce wage levels. These enterprises are characterized by their ease of management and low costs, as they do not require significant capital. SMEs are so named due to their small workforce compared to larger enterprises that may employ thousands of workers and operate on a massive budget.

Results and Recommendations:

The study yielded important results and recommendations, including:

1. The Jordanian government should enhance its electronic infrastructure to advance further.

2. The website of the Ministry of Digital Economy and Entrepreneurship should be updated, as it serves as the primary investment interface for the Kingdom.

3. Increased emphasis on research and development to improve the performance of companies and their services.

4. Emphasis on the significant importance of supply chain management, urging companies to incorporate it into their research and development plans to keep up with modern administrative approaches.

Main Objective of the Research:

The primary goal of the research is to elucidate the fundamental principles of strategic planning and its impact on the performance of small and medium-sized enterprises. The researcher aims to understand the following:

1. The concept of strategic management and strategic planning.

2. Performance measurement criteria for institutions.

3. The importance of small and medium-sized enterprises for the national economy.

4. The impact of implementing strategic planning standards on the performance of the enterprise.

Methodology Used to Achieve this Objective:

The current study employed a descriptive-analytical approach and a quantitative methodology, focusing on gathering quantitative data through applied measurement tools on a representative sample of the indigenous population.

Statistical and analytical methods were used to obtain specific results based on pre-developed hypotheses and questions.