Effect of Business Planning on Business Performance among Small and Medium Enterprises; A Case Study of Selected SMEs in Ghana
International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
www.ijsr.net | Open Access | Fully Refereed | Peer Reviewed International Journal

ISSN: 2319-7064

Research Paper | Business Management | Ghana | Volume 9 Issue 2, February 2020

Effect of Business Planning on Business Performance among Small and Medium Enterprises; A Case Study of Selected SMEs in Ghana

Victor Osei Poku, Emmanuel Jeffrey Dzage, Dr. Wilberforce Owusu Ansah

Strategic planning has been found severally by a number of studies to be a necessary precursor of organizational performance and as such, the concept has become an important aspect of business management that is often resorted to in order to achieve sustainable growth. Nonetheless, while many scholars have demonstrated that strategic planning is a salient factor that contributes to business performance, others are of a contradictory view. Based on this backdrop, the study examined the effects of business planning on the performance of selected SMEs across three metropolises in Ghana. Among the specific aims of the investigation, the researcher set out to examine the relationship between business planning and the performance of SMEs as well as assess the challenges of business planning among the SMEs. The study employed a purely quantitative approach in acquiring and processing the numerical data acquired from 150 SMEs sampled through a purposive sampling strategy. The principal findings of the study reveal that, although some considerable numbers of the surveyed SMEs (57.3 %) are engaged in business planning processes, 50 % of these businesses are unable to achieve their strategic business goals. The study also established a strong and positive relationship between strategic business planning and business performance although it identified that, a major challenge of business planning among the firms surveyed is access to credit.

Keywords: Business planning, Business Performance, Strategy, Small and Medium Enterprise, Ghana

Edition: Volume 9 Issue 2, February 2020

Pages: 1653 - 1663

Share this Article

How to Cite this Article?

Victor Osei Poku, Emmanuel Jeffrey Dzage, Dr. Wilberforce Owusu Ansah, "Effect of Business Planning on Business Performance among Small and Medium Enterprises; A Case Study of Selected SMEs in Ghana", International Journal of Science and Research (IJSR), https://www.ijsr.net/search_index_results_paperid.php?id=SR20218143638, Volume 9 Issue 2, February 2020, 1653 - 1663

127 PDF Views | 92 PDF Downloads

Download Article PDF



Similar Articles with Keyword 'Business Performance'

Research Paper, Business Management, Indonesia, Volume 7 Issue 2, February 2018

Pages: 1497 - 1501

The Performance after Foreign Venture Capital Firm Investment on Start-Up Business in Indonesia- Case Study: Tokopedia

Lawrence Benedictus, Brady Rikumahu

Share this Article

M.Tech / M.E / PhD Thesis, Business Management, Kenya, Volume 8 Issue 9, September 2019

Pages: 710 - 718

Strategic Positioning, Demographic Characteristics and Business Performance of Mobile Telecommunication Companies in Kenya

Dr. Njenga Gitahi Samson

Share this Article

Research Paper, Business Management, Ghana, Volume 9 Issue 2, February 2020

Pages: 1653 - 1663

Effect of Business Planning on Business Performance among Small and Medium Enterprises; A Case Study of Selected SMEs in Ghana

Victor Osei Poku, Emmanuel Jeffrey Dzage, Dr. Wilberforce Owusu Ansah

Share this Article

Research Paper, Business Management, Nigeria, Volume 2 Issue 1, January 2013

Pages: 416 - 422

Customer Relationship Management and Bank Performance in Nigeria: An Empirical Validation Study

Kenneth C. Adiele, Justin M.O. Gabriel

Share this Article

M.Tech / M.E / PhD Thesis, Business Management, Kenya, Volume 9 Issue 4, April 2020

Pages: 57 - 62

Effect of Market Orientation on Organizational Performance - Case Study: Sonarwa General Insurance Company Ltd

Edith IRAGENA, Dr. Patrick MULYUNGI

Share this Article

Similar Articles with Keyword 'Strategy'

Case Studies, Business Management, Kenya, Volume 6 Issue 4, April 2017

Pages: 2361 - 2365

Influence of Entrepreneurial Strategy on Customer Satisfaction in Water Providers in Kenya: A Case Study of Eldoret Water and Sanitation Company Limited

Marita Francis Asiago; Dr. Samson Nyang'au Paul

Share this Article

Research Paper, Business Management, Ethiopia, Volume 9 Issue 9, September 2020

Pages: 1006 - 1009

Prospects and Challenges of Foreign Banking Entry to Ethiopian Financial Market

Matiwos Ensermu

Share this Article

Research Paper, Business Management, Indonesia, Volume 7 Issue 8, August 2018

Pages: 1566 - 1570

Constructing a Strategy Map for Startup XYZ Using Balanced Scorecards Strategy Map

Adhe Okthalia, Fajar S. A. Prabowo

Share this Article

Research Paper, Business Management, Indonesia, Volume 9 Issue 6, June 2020

Pages: 1790 - 1793

The Impact of Brand Ambassador on Brand Image and Consumers Purchasing Decision: A Case of BTS as Tokopedias Brand Ambassador

Ilham El Fawwaz, Dra Indrawati

Share this Article

Research Paper, Business Management, Indonesia, Volume 8 Issue 7, July 2019

Pages: 785 - 791

Analysis of Factors Which Influence Tourists Visit Increase That Affects Micro, Small and Medium Enterprises (MSMEs) Development, Their Implications to Regional Job Opportunity Creation and Regional Revenue in Jakarta

Endah Marendah Ratnaningtyas SE MM, Hanggoro Susanto, Tutut Herawan, Nur Wening, Sujoko Sujoko

Share this Article
Top