Management training, strategic planning effectiveness and the growth of start-ups and early-growth firms

This working paper focuses on the strategic planning practice and the relation between strategic planning effectiveness and the business growth of two groups of start-ups and early growth firms in Flanders (Belgium): represented by, firstly, a test group of business-owners that participate in one of the most successful management training programs for starters and early growth firms (hereafter referred to as ADEPT), and, secondly, a randomly selected and matched but control group of SME-start-ups and early growth firms on the basis of start-up year (period 1987-1996), age, size, industry, and location (hereafter called NOVICE). Support is found for the relationship between [1] the scope and sophistication of strategic planning and the level of strategic planning correctness and strategic accuracy, and [2] between these strategic planning dimensions and the growth pattern of these start-ups and early growth firms