Abstract
This study investigated the nature of long-term planning within small firms. Emphasis is placed on understanding the extent to which long-term planning is successful within the small firms sector. The research data was collected from a small sample of Hospitality and Retail businesses.
The findings indicate that small firms do not plan as much as they should do and such planning that takes place is chiefly financial. Other aspects of the business, like personnel, are handled much more reactively. The 5 firms in this pilot study suggest that, at root, they see planning restricting and something they fear.
Key Words: Long-term planning, Growth, Small firms, Failure. |
