Despite these research efforts and the growing importance of small companies in the United States' economy, there is surprisingly little empirical work that has examined the techniques, tools, and approaches to planning that are actually being used by these businesses. The present study is designed to partially fill this gap in the literature by reporting the results of a survey of small businesses in the United States. Specifically, it seeks to determine (1) whether or not these firms develop any written long-range plans, (2) the external factors that serve as inputs to the long-range plans, (3) the types of objectives being used by these firms, (4) for those firms who plan for growth and expansion, how they intend to achieve such goals, (5) the types of financial planning undertaken by these companies, (6) whether outside consultants are used to assist in the long-range planning process, (7) the extent to which mathematical or computer models are utilized, and (8) how frequently overall performance is periodically reviewed. The intent is to develop a profile for small firms with respect to their strategic planning processes.
"The Status of Planning in Small Businesses,"
American Business Review: Vol. 22
, Article 1.
Available at: https://digitalcommons.newhaven.edu/americanbusinessreview/vol22/iss2/1