A Better Fitting Strategy Planning Model for the Small and Medium-Sized Enterprises in Taiwan: The Financial Strategy Management Analysis Model

Chiung Chiao Chang¹, Hsien Wen Liao², Chih Chiang Luc³  
(1. Department of Finance, Vanung University, Taiwan; 2. Department of Business, China University of Technology, Taiwan;
3. Department of International Business, National Taipei University of Business, Taiwan)

Abstract: Although the widespread recognition of the important roles that small and medium-sized enterprises play in economic, and some research has found that strategy planning has significant impact on enterprise’s performance, researches of strategic planning applicable to small and medium-sized enterprises are scattered and limited. It is usually assumed that small and medium-sized enterprises lack the resources to implement strategy planning, and then lead to inferior financial performance. The purpose of this paper is trying to introduce the new strategic planning method, the financial strategy management analysis model, for the small and medium-sized enterprises in Taiwan. This model will help managers in small and medium-sized enterprises more quickly develop strategy, find possible management problem, effectively solve management problem, and improve financial performance.

Key words: TOWS analysis; financial/strategy/management analysis; SME

JEL codes: M10