A recently published meta-analysis of the impact of strategic planning
on financial performance omitted a major study of corporate planning
practice in Fortune 500 manufacturing firms. This article briefly revi
ews that study in light of the results of the meta-analysis. Additiona
l analysis examines performance and firm survival over a longer time p
eriod than in the original work. The overall conclusion is that a smal
l but positive relationship between strategic planning and performance
exists, and persists.