Strategic planning effectiveness comparative analysis of the Macedonian context

Strategic planning is an important element in the organizational success and the key to effectiveness and overall competitiveness of the organizations. Strategic planning practice and effectiveness has been the subject of much academic debate in the Western context, but little empirical research and comparative analysis exists on this subject in emerging and developing countries. The aim of this study is to investigate the relationship between strategic planning and the organizational effectiveness with the examination of a wider list of strategic planning dimensions and different approaches and measures to assess the strategic planning effectiveness in the case of the Republic of Macedonia, as well as to conduct comparative analysis of the strategic planning effectiveness in different emerging and developing countries. After the initial processing of the total number of received questionnaires, 113 questionnaires proceeded to the next phase of processing, as companies were found to be strategic planners. Two regression models were performed, enclosed with necessary tests, as well as in order to achieve unidimensionality, factor analysis was performed for all stated items for each of the investigated variables. The empirical analysis conducted in Macedonian companies shows that strategic planning can generally contribute to organizational effectiveness. A significant correlation between different strategic planning dimensions and the strategic planning effectiveness was found in the relationship between the formality of strategic planning, the management participation in strategic planning and the employee participation in strategic planning. The comparative analysis conducted in this study with the purpose of comparing the case of Republic of Macedonia with the studies in the other emerging and developing counties, and indicating the probable reasons for potential differences in strategic planning effectiveness in different counties, refers to useful knowledge conclusions. The originality and the value of the study for the literature and theoretical knowledge lies in the attempt for the strategic planning effectiveness to be investigated for first time on the ground of many emerging and developing counties from the regions of Eastern, Central and especially South-Eastern Europe, as well as for a comparative analysis to be conducted with several non-European emerging and developing counties, with useful conclusions about the strategic planning and its relationship with organizational effectiveness Practical implications refer to setting up the different dimensions of the strategic planning practice in a way that will enhance the strategic planning effectiveness and give useful suggestions to managers by focusing their efforts on the effective strategic planning practice. Considering that this study has been conducted in the Republic of Macedonia and that the strategic planning practice can be subject to some contingencies i.e. some cultural and institutional environment influences, much can be done in future research in this direction.