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Bruce B. Barringer and Amy R. Gresock
While an increasing number of colleges and universities offer classes that teach students how to write a business plan, in practice the majority of new ventures are…
While an increasing number of colleges and universities offer classes that teach students how to write a business plan, in practice the majority of new ventures are launched without the benefit of formal planning. The purpose of this paper is to propose a conceptual model to guide students and entrepreneurs through the process of pre‐launch investigation and planning.
To create the methodology, the authors rely on the stage‐gate model from the product development literature. The stage‐gate model is a conceptually sound set of steps that guide engineering students, practicing engineers, and product development specialists through the pre‐launch stages of investigating the merits of new product or service ideas. Using the spirit and structure of the stage‐gate model as a guide, the authors propose a model of the front end of the entrepreneurial process.
The model includes five distinct steps, starting with the identification of a business idea and progressing through feasibility analysis, business planning, and the ultimate launch of the venture.
The model proposed in this paper provides students and entrepreneurs a more structured and logical way of thinking through the merits of a business idea than is currently available.
Robert C. Ford, Amy R. Gresock and William C. Peeper
Identifying, attracting, and maintaining the engagement of the right composition of people for a non‐profit Board is a major challenge. Executives should ensure that their…
Identifying, attracting, and maintaining the engagement of the right composition of people for a non‐profit Board is a major challenge. Executives should ensure that their Boards accurately represent the stakeholders that matter, both from industry and the community. The purpose of this paper is to describe ways and offer propositions for effective non‐profit executives to identify, recruit, and motivate the continuing engagement of the members needed on their Boards in order to acquire resources critical to their sustained success.
The Convention and Visitors Bureaus (CVBs) are used as an example, since at least 93 percent of CVBs have a governance structure that includes a Board of Directors. Successfully attracting the right mix of stakeholders is a result of an extensive recruitment effort by the CVB executive. Prior research reports that successful executives take great care in making selection decisions that reflect the interests of the community in the Board's composition. Based on the literature on Boards and governance, the authors develop propositions regarding the composition of CVB Boards.
While the research is exploratory, it is found that CVBs with more diverse Boards are more successful than those with less diverse Boards. It is argued that effective CVBs use a thoughtful process for heterogeneous Board selection. It is also suggested that Board performance should be evaluated on an annual basis to recognize the need for active involvement in the Board selection process.
The successful selection of Board members is important because of the implications for Board effectiveness. While there is a large body of literature offering advice on Board selection, there is little on recruitment. Moreover, there is little discussion of Board composition strategy based on balancing access to critical resources of stakeholders.