TitleLinking the formal strategic planning process, planning flexibility, and innovativeness to firm performance
Publication TypeJournal Articles
Year of Publication2015
AuthorsDibrell, C, Craig, J, Neubaum, D
JournalJournal of Business Research
Date Published2015
KeywordsManagement, Strategy & Entrepreneurship

We explore how formal strategic planning processes, adaptive capabilities, and innovativeness are associated with firm financial performance in a multi-industry sample (N = 448). Our results suggest both formal strategic planning processes and adaptive capabilities are positively associated with innovativeness. In addition, we find innovativeness fully mediates the relationships from formal strategic planning and adaptive capabilities to firm financial performance. This implies that organizations that concurrently act and react will be in a more advantageous competitive position than those unable to master this paradoxical conundrum.