%0 Journal Article
%T Does a strategic planning process that combines rational and adaptive characteristics pay off ? Evidence from European firms
%A Mohamed Laid Ouakouak
%J Australian Journal of Management
%@ 1327-2020
%D 2018
%R 10.1177/0312896217721589
%X Rational strategic planning has long been used as an instrument to improve financial performance. With the increasing complexity of the business environment, this positive impact has decreased. As a result, there have been several calls for more work focusing on investigating and understanding the strategic planning process and how it affects financial performance. Many recent studies suggest that a rational approach to strategic planning should be combined with an adaptive approach to build a hybrid approach that is better suited to the current dynamic and complex environment. The purpose of this research is to examine how a strategic planning process that combines rational characteristics and adaptive characteristics improves financial performance. To this end, this study develops and empirically tests a conceptual model, using a quantitative study of 335 European organizations. A combined strategic planning process has a positive impact on financial performance, through the mediators of employee strategic alignment and organizational capabilities. JEL Classification: L10, L2
%K Employee strategic alignment
%K financial performance
%K organizational capabilities
%K strategic planning process
%U https://journals.sagepub.com/doi/full/10.1177/0312896217721589