Strategic planning, ambidexterity and exit strategy: dynamics in SMEs

The aim of the study is to investigate the relationship between ambidexterity and family succession versus sale to an outsider as an exit strategy in SMEs, and the impact strategic planning has on this relationship. We analyse data collected from 1,266 SME owner-managers/CEOs aged over 55 in Finland, using GLM univariate procedure in the analysis. The results show that succession has a positive relationship with ambidexterity as does the level of strategic planning. Furthermore, strategic planning moderates the relationship between exit strategy and ambidexterity. Succession plans boost ambidexterity in SMEs only when the level of strategic planning is high; if the level of strategic planning is low or neutral, there are no significant differences in ambidexterity between SMEs planning family succession and SMEs planning to sell.