Configurational answer to the ongoing riddle of formal and/or emergent planning practices

For three decades, controversy positions in strategic management concern if formal or emergent planning practices increase firm performance. This study here investigates different configurations of planning practices and performance considering main firm characteristics in a dynamic and uncertain industry. Results of 377 firms operating in the medical device industry indicate that both age and size jointly and singularly influence successful configurations. Either formal or emergent planning practices can drive success-depending on certain configurations of firm characteristics.