STRATEGIC PLANNING MODEL AND ITS IMPACT ON THE DEVELOPMENT OF MICRO-ENTERPRISES IN THE SERVICES SECTOR IN MEXICO

Abstract

Purpose: The aim of this study is to offer the design of a strategic planning model for micro-enterprises from services economic sector in the State of Hidalgo, Mexico and measure its impact on their growth and development. Theoretical framework: The research reviewed a variety of strategic planning models, which contributed in the design of this new model tailored to Hidalgo’s micro-enterprises from services sector, the main objective is to contribute to their growth and development. Larios (2016), refers to the strategic process sequential model as the set of activities which are conducted in a specific sequence in order to project the future of the organization and achieve their vision, Larios (2016), establishes that this model is made of three stages: designing, implementing and evaluating which is completed by adding conclusions and recommendations. On the other hand, the strategic planning model proposed by Stanton, Etzel and Walter suggests a logical sequence that combines strategic and marketing planning, establishing the specific route that the marketing department needs to follow (Chávez, 2017). A detailed description of the models reviewed during the research work is presented in the literature review section. Design/methodology/approach: The study applies a quantitave methodology with a non-experimental and transactional – correlational. A questionnaire with Likert scale of five points from totally agree to totally disagree, was given to managerial staff from the sample companies. The sample subject of study consists of 174 micro-enterprises from the services sector located in the State of Hidalgo, Mexico. The quantitative analysis conducted is based on inferential statistics, specifically multiple correlation analysis where the dependent variable is strategic planning and the independent variables are corporate philosophy, key internal factors, key external factors, SWOT analysis, situational diagnosis, objectives and strategic control (Hill y Jones 2015). Findings: The research findings are that the dimensions that have a positive effect on strategic planning are; philosophy, internal factors, external factors, and strategic objectives. This was obtained after validating the multiple regression equation; Y = 2.041 + 2.996(X1) + .712(X2) + .807(X3) + .628(X4) + .011(X5) + 2.5(X6) + .719(X7), through Student’s t statistical tool for related samples, which compares the means value between the values of two variables from a single group (Ritchey, 2008). The statistical review displays a homogeneous pair result of 0.05 standard error, which allows to be certain about the theoretical-practical association between the variable strategic planning’s dimensions amongst the study sample. About standardized coefficients significance, three out of seven predictor dimensions don’t contribute to statistical model, they are; SWOT analysis, situational diagnostic and strategic control, nevertheless they are included in the final model, since they are very relevant in strategic planning. Research, Practical and Social implications: This research has important implication on micro-enterprises from services sector development since it offers the design of a strategic planning model tailored to their specific features which will benefit organizational growth. The intrinsic social impact is that if Hidalgo’s micro-enterprises from sector services are able to reach higher growth levels, they will be able to increase employment levels, which has a positive effect on economic growth and social development. Originality/value: This research work provides an original strategic planning model for microenterprises of services economic sector in the State oh Hidalgo, at the same time this model gives mentioned enterprises the opportunity to beneficiate from strategic planning throughout its application.