STRATEGIC PLANNING GUIDELINES FOR SUCCESS IN INDUSTRIAL ENTERPRISES

Objective: The objective of this research is to examine the organizational structure and operational characteristics of industrial businesses, investigate components of strategic planning guidelines, and develop a structural equation model, with the aim of achieving sustainable success for industrial enterprises.   Theoretical Framework: Content analysis method is a theoretical framework used to examine the presence and concepts of qualitative data. The framework is used to summarize findings and recommendations, from in-depth interviews and focus group discussions, into frequency values. Survey research framework is a structured approach that guides design, implementation, and analysis of surveys to gather data from targeted populations. The framework is used in quantitative research component, to collect and analyze data using descriptive and inferential statistics   Method: Qualitative research involved conducting in-depth interviews with 9 experts and facilitating focus group discussions with 11 qualified individuals. Quantitative research is conducted through surveys to 500 industrial business executives, utilizing descriptive statistics, correlation analysis, and multivariate statistics.   Results and Discussion: Findings from developed structural equation model indicated good alignment with observational data, with a Chi-square value of 0.094, Chi-square ratio of 1.115, goodness-of-fit index of 0.954, and a root mean square error of approximation of 0.015.   Research Implications: Strategic planning is significant in business operations. Well-formulated business strategies will impact managerial efficiency, creating opportunities and enhancing a competitive advantage for industrial enterprises.   Originality/Value: Findings revealed four significant factors contributing to success in industrial enterprises, listed in descending order of importance: 1) adaptive skills, 2) digital technology, 3) collaboration, and 4) organizational support.