Strategic Planning and Its Implications on SMEs in Bangladesh: An Empirical Study

Abstract

Strategic plan is an important integral part and vital factor for long-tern success and sustainable development of any organization and also for SMEs. Without strategic plan an SME may journey towards an imaginary destination. The current study is an endeavor to highlight the present scenario of SMEs in Bangladesh, scope of strategic plan in SMEs, barriers to preparing strategic plan and ways to removal of the barriers and finally implications of strategic plan in SMES in Bangladesh.  The paper found that sustainable development of SMEs highly depends on the preparation and implementation of strategic plan in SMEs in Bangladesh and strategic plan has direct impact on the growth of number of employees, volume of capital and return on sales of SMEs. GEL Classification Code: O20; G32; M13