engleski

STRATEGIC PLANNING AS A PROFITABILITY FACTOR IN SMALL AND MEDIUM ENTERPRISES

Market development is accompanied by the development of strategic management that will continue to develop in the future. In order for companies to be as successful as possible in their business environment, they need a methodological approach to developing a strategic plan. Creating a strategic plan is not a simple process, it is necessary to carefully observe the environment in which the company operates, as well as detailed planning of all factors that play a key role in the strategic planning process. Making a good strategic business plan of a company ends with making quality and effective decisions on which the successful business results of the company will be based. In a global market environment, SMEs want to achieve a competitive position in the market. However, small and medium enterprises are not aware of the importance of strategic planning and defining strategic goals, which is also a research problem of this paper. From the above mentioned the subject of the research arises: to what extent small and medium-sized enterprises adopt strategic plans and have defined strategic business goals, and to what extent strategic planning contributes to the profitability of small and medium-sized enterprises? The empirical research was conducted on a sample of 158 small and medium enterprises registered in the Republic of Croatia, while the aim of the research is to prove that strategic planning of small and medium enterprises significantly contributes to their profitability

Profitability, Small and medium enterprises, Strategic management, Strategic planning

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