Strategic planning, budget monitoring and growth optimism: evidence from Australian SMEs
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(Published version)
Date
2015
Authors
Rice, J.
Martin, N.
Gurd, B.
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Conference paper
Citation
Proceedings of the 29th Australian and New Zealand Academy of Management Conference: Managing for Peak Performance, 2015, pp.1-17
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29th Australian and New Zealand Academy of Management Conference: Managing for Peak Performance (ANZAM) (2 Dec 2015 - 4 Dec 2015 : Queenstown, New Zealand)
Abstract
Purpose – The purposes of this paper is to assess the implications of concurrent strategic planning and financial management processes on anticipated future revenue growth
Design/methodology/approach – We use a secondary dataset, gathered among Australian SMEs, by the Australian Bureau of Statistics. Our analysis adopts a regression approach including a mediated and a non-mediated path to explore the direct and indirect effects of strategic planning and budgetary planning and management on expected future revenues
Findings - Our findings suggest that (a) firms that utilise strategic planning and robust budget planning and monitoring processes exhibit higher optimism about future sales growth and (b) firms that effectively configure these planning activities with market development tend to exhibit higher growth and more growth optimism
Originality – we believe that this paper is one of the first to link managerial revenue growth expectations (optimism) to planning and monitoring activities. Our overall model, that anticipates positive benefits from the effective deployment of this configuration of planning, monitoring and optimism, is confirmed.
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Copyright 2015 The Author(s)