The strategic planning practices and growth of small businesses were examined based on the self-reported responses of 112 small businesses in the Modeling, Simulation, and Training (MS&T) industry. Seventy-five percent of the participants confirmed they employed a written business plan and 24.8% of the participants responded “No”. Null and alternative statements of hypothesis were formulated for each research question. Of the three hypotheses tested, none found a statistically significant correlation between strategic planning and growth and the sophistication level of strategic planning activities and length of time in business in the MS&T industry. None of the 34 strategic planning sophistication levels were significant. The sophistication level included strategic planning model components. A correlation was not supported on the 34 variables identified in strategic planning models and growth in MS&T small businesses. Based on the results of the study it was inferred that there was no significant difference in growth for those who employed a written business plan versus those that did not employ a written business plan for small businesses in the MS&T industry in support of the central Florida area.
|School:||University of Phoenix|
|School Location:||United States -- Arizona|
|Source:||DAI-A 71/07, Dissertation Abstracts International|
|Keywords:||Small businesses, Strategic planning, Training industry|
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