Open Access

Patrick Siegfried

• A 2002 study on corporate planning of the top German companies measured by turnover found that of the surveyed large companies, 80 percent have carried out strategic planning and 90 percent have operational planning in place [Link/Orbán 2002, pp. 11]. The human and material costs of designing and implementing the strategic planning can be very high. Many SMEs do not have the necessary capacitiesA 2002 study on corporate planning of the top German companies measured by turnover found that of the surveyed large companies, 80 percent have carried out strategic planning and 90 percent have operational planning in place [Link/Orbán 2002, pp. 11]. The human and material costs of designing and implementing the strategic planning can be very high. Many SMEs do not have the necessary capacities to do this. To obtain a comprehensive overview, this chapter examines the existing studies and findings for young SMEs. Many of the studies reviewed and the following publications relate to SMEs as defined by the EU. This analysis also includes established SMEs and medium-sized enterprises.…