The Impact of Strategic Planning on the Performance of Private Companies
Abdullah Adel Abdullah Mohammed Hussein Abdullah presented his research on the impact of strategic planning on the performance of private companies at the Gate Academy celebration. Here's the translation of his article:
Title: The Impact of Strategic Planning on the Performance of Private Companies
Introduction
Those responsible for maintaining and supporting talented employees, increasing profits in companies, adopt a strategic awareness mentality. This enables them to maintain the company's position in the competitive market by charting its course within a clear, flexible, applicable, and fully amendable framework. This keeps the work on the right track for achieving goals, success, and continuity. This skill is considered one of the practical arts that increase levels of efficiency and strength for its owners. They can think logically and determine the best and fastest way to achieve their goals.
Organizational interest in its strategic future necessitates the process of strategic planning to improve its long-term performance, anticipating the future situation and preparing for it, and outlining future activities based on facts about positions. This is done through compiling and analyzing those facts, anticipating challenges, and exploring future opportunities.
The researcher seeks, through this study, to understand the impact of strategic planning on the performance of private companies, considering that improving performance and maximizing profits are the ultimate goals that companies strive to achieve. Functional performance is important for organizational success as it represents a decisive weapon in their struggle for survival and growth.
Research Problem
There are many companies and economic institutions, whether profit-oriented or non-profit, that always seek to improve their performance. The researcher aims to study the independent variable represented by the performance of private companies. The main research question or problem that the study seeks to solve is: "Why does the performance of companies improve?" After reviewing previous literature and observing the performance of companies, it became clear that there are several factors influencing company performance, including job satisfaction, strategic planning, managerial leadership, performance evaluation, and others.
The study focuses on studying strategic planning as the factor and independent variable and its impact on the performance of companies. Thus, the study revolves around a main question, namely: "What is the impact of strategic planning on the performance of companies?" This main question branches out into several sub-questions, the most important of which are:
What is the relationship between setting measurable goals and improving job performance?
How does having more than one plan affect the overall performance of companies?
How does involving employees in the strategic planning process affect the overall performance of the company?
What is strategic planning?
What are the elements of strategic planning?
What are the objectives of strategic planning?
Significance of the Study
Scientific Significance: This study can be considered as a source for researchers and scholars who want to learn more about the impact of strategic planning on the performance of companies, and this study may serve as a starting point for researchers and enthusiasts to conduct further research in this field.
Practical Significance: The study may yield results that can contribute to providing recommendations and suggestions for decision-makers and managers within companies to enhance their efficiency and achieve the best possible performance.
Study Objectives
The study aims to understand the impact of strategic planning on the performance of companies, through achieving several subsidiary objectives, the most important of which are: