Competitive Strategic Maneuverability: The Missing Link Between Strategic Planning and Firm’s Performance

Abstract

The strategic planning process consists of setting company objectives, scanning the external environmental conditions, organizing internal strategic issues, determining strategy choices, formulating implementation plans, control and monitoring. A study of the literature shows that for some organizations there is a positive relationship between strategic planning and performance; however, some evidence suggests that it is not significant. There is still debate among scholars due to inconclusive results. This study revisits the literature on strategic planning and proposes a new approach incorporating strategic flexibility, agility, and responsiveness derived from dynamic capabilities theory. A new concept called “competitive strategic maneuverability” is introduced to bridge the gap between a firm’s strategic planning and performance. Subsequently, the dimensions and indicators that measure the concept of competitive strategic maneuverability are developed for the purposes of further empirical research.