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Book part
Publication date: 13 August 2014

Clare Gately and James Cunningham

Business plan writing seems the panacea to gain stakeholder legitimacy and financial backing. Our chapter explores the contributions and disconnections between business plan…

Abstract

Business plan writing seems the panacea to gain stakeholder legitimacy and financial backing. Our chapter explores the contributions and disconnections between business plan writing and the start-up process for incubated technology entrepreneurs. The study is set in the South East Enterprise Platform Programme (SEEPP), an incubator programme for technology graduate entrepreneurs in the South East of Ireland. Using a purposive sample of technology entrepreneurs in start-up mode, we took a qualitative approach consisting of content analysis of 40 business plans and in-depth interviews with 25 technology entrepreneurs. Our research found that writing a detailed business plan constrains the technology entrepreneur’s natural penchant for action, compelling them to focus on business plan writing rather than enactment. Technology entrepreneurs favour a market-led rather than funding-led operational level document to plan, and learn from, near-term activities using milestones.

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Academic Entrepreneurship: Creating an Entrepreneurial Ecosystem
Type: Book
ISBN: 978-1-78350-984-3

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Book part
Publication date: 23 September 2016

Christophe Garonne and Per Davidsson

Whether or not nascent entrepreneurs should spend time developing a business plan is still an issue of debate for both scholars and practitioners. This chapter contributes to a…

Abstract

Whether or not nascent entrepreneurs should spend time developing a business plan is still an issue of debate for both scholars and practitioners. This chapter contributes to a better understanding on the uses and expectations of planning among business start-ups by taking a deeper and more granular approach than previous research. The chapter examines not only if planning is used but also how it is used and how this changes over time. Contrary to current thinking, the research suggests that for most firms the issue of planning may be a question of choice more than a request from institutional pressure. The insights developed in this chapter provide a foundation for future theorizing about the antecedents and effects of business planning for start-ups.

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Models of Start-up Thinking and Action: Theoretical, Empirical and Pedagogical Approaches
Type: Book
ISBN: 978-1-78635-485-3

Keywords

Book part
Publication date: 16 June 2015

Jennine Knight

The dynamic environment in which the academic library operates requires explicit links between business strategy and a new management priority including the development of people;…

Abstract

The dynamic environment in which the academic library operates requires explicit links between business strategy and a new management priority including the development of people; this is the focus of human resource development (HRD). It serves the needs of an organization by ensuring that employees’ expertise is state-of-the-art, something that is critical in a period of rapid technological development coinciding with ever-expanding societal needs. HRD can be relied upon to support and shape a wide range of academic library initiatives requiring a competent and engaged workforce by recognizing people as the organization’s most critical asset, one that drives competitive advantage and helps it out-perform the market. Emphasis is placed on developing an organizational context that will attract and develop talented individuals and leaders and keep them engaged. Furthermore, HRD activities must respond to job changes and integrate staff skills sets with the long-term plans and strategies of the organization thus ensuring the efficient and effective use of resources. This chapter explores HRD as a strategic concern of the organization and how it can best serve the organization in the long term. In so doing, it considers how HRD can help the academic library focus resources in those areas where there are strong likelihoods that they can produce substantial improvements in future capacity and performance. This kind of strategic planning helps the organization configure resources within a dynamic competitive environment, thus serving market needs and satisfying stakeholder expectations, helping meet its business purpose and maintain its strategic direction. The case study developed here highlights the need for the effective linkage of HRD and strategic planning for the advancement of the academic library. It suggests the need for developing and implementing both a strategic plan and an HRD plan and developing a culture of strategic human resource development (SHRD) in academic libraries.

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Advances in Library Administration and Organization
Type: Book
ISBN: 978-1-78441-910-3

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Book part
Publication date: 4 August 2015

Richard DeMartino, Rajendran Sriramachandramurthy, Joseph C. Miller and John N. Angelis

Despite a large and growing literature on the subject, little is understood about the phenomenon of small business growth. Specifically, the small business growth literature has…

Abstract

Despite a large and growing literature on the subject, little is understood about the phenomenon of small business growth. Specifically, the small business growth literature has often emphasized “why” opposed to “how” firms grow. This chapter sheds light on this black box of growth by investigating the phases of planning and implementation processes separately to explore the choice of strategic expansion modes. It examines a much under-researched firm category: declining small firms. Employing a three-year longitudinal study using a multi-case study method, we find that while growth approaches are typically contextually (industry) derived, formalized planning greatly affects implementation. Further, resources are the key mediating variable between formal planning and implementation – firms with slack resources will typically implement their contextually influenced planned growth course, and firms with inadequate resources will typically implement through interactive learning, which causes them to downscale the growth plans or exit the market (merger or sale).

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Entrepreneurial Growth: Individual, Firm, and Region
Type: Book
ISBN: 978-1-78560-047-0

Keywords

Abstract

Details

Advances in Accounting Education: Teaching and Curriculum Innovations
Type: Book
ISBN: 978-1-84950-869-8

Book part
Publication date: 15 March 2022

Peter Wyer, Bob Barrett and Konstantinos Biginas

The purpose of this chapter is to examine what small business strategic management and long-term planning involves as practised by successful growth-oriented small businesses. The…

Abstract

Chapter Contribution

The purpose of this chapter is to examine what small business strategic management and long-term planning involves as practised by successful growth-oriented small businesses. The aim is to provide insight into the strategic learning, control and development processes, including indicative detail of the underpinning day-to-day practices and actions that make up those processes. Key focus is the overall strategic control activity of more progressive owner managers and their use of an idiosyncratic mentally held ‘strategic planning and thinking framework’ that guides and informs strategic decision-making, strategic adjustment to existing markets, products and processes activities and long-term strategic direction.

The research approach is underpinned and informed by personal construct theory which gives emphasis to the highly complex nature of the task of small business strategic control and highlights the need for a creative and innovative research methodology to facilitate close and detailed investigation of the phenomenon. To this end, a multidisciplinary case study research methodology was developed by the authors to underpin examination of strategic development and planning within micro-, small- and medium-sized businesses.

The chapter enhances understanding of small business strategic management practice in growth-achieving micro and small enterprises. The findings of this research, whilst demonstrating the key role of entrepreneurial learning in small firm strategic control of the uncertain external environment, also provides a multidimensional lens through which to dissect and better understand the small firm strategy development process – drawing upon and integrating grains of truth from the differing schools of management thought embedded in the literature.

The findings of this study also facilitate the addressing of the ‘black box’ of hazy insight within the literature which fails to reveal micro-level fine detail understanding of the managerial and organisational actions and activities that make up strategy process. The authors commence provision of such black box insight within this chapter – this as lead-through to the follow-on chapter which affords specific attention to enhancing understanding of the micro-level fine detail minutia of managerial, organisational and work activities that make up strategy process within small businesses.

The research is of a comparative dimension focussing on small business development within the developed economy context of the UK, the emerging economy contexts of Malaysia and Ghana and the transitional economy contexts of Russia. Thus, time and resource limitations bound the studies.

Details

Small Business Management and Control of the Uncertain External Environment
Type: Book
ISBN: 978-1-83909-624-2

Book part
Publication date: 23 September 2016

Benson Honig and Christian Hopp

In this chapter, we examine two theorized approaches to entrepreneurial activity: experiential versus prediction based strategies. We empirically assess the comparative…

Abstract

In this chapter, we examine two theorized approaches to entrepreneurial activity: experiential versus prediction based strategies. We empirically assess the comparative performance of several commonly recommended approaches – researching customer needs, researching the competitive landscape, writing a business plan, conceptually adapting the business plan or experimentally adapting the primary business activity. We found that the majority of nascent entrepreneurs began with a business plan, but only about a third adapted their plan in later stages. We also found that talking with customers and examining the competitive landscape were normative activities. Those who started a plan were more likely to create a venture, although the effects much stronger for those who changed their plan later on, as well as for those who researched customer needs.

Our results show that the selection of these activities is both ubiquitous and driven by pre-start-up experience and new venture characteristics. The activities themselves do not robustly link with successful new venture foundation. Hence, pre-start-up experiences, venture characteristics, and the institutional environment are more important in explaining successful performance than recommended activities. Implications for research, practice, and pedagogy are discussed.

Details

Models of Start-up Thinking and Action: Theoretical, Empirical and Pedagogical Approaches
Type: Book
ISBN: 978-1-78635-485-3

Keywords

Book part
Publication date: 11 July 2018

Marios Sotiriadis

This chapter’s aim is to outline and highlight the components of strategic planning and management framework, as well as the value and utility of strategic analysis and competitor…

Abstract

Purpose

This chapter’s aim is to outline and highlight the components of strategic planning and management framework, as well as the value and utility of strategic analysis and competitor analysis.

Methodology/approach

Extensive literature review was conducted on conceptual issues and management aspects of human resources management. A practical approach has been adopted and implemented to illustrate the value of strategic analytical tools.

Findings

This chapter provides a description and an understanding of how the analyses and tools of strategic planning and management could be used to plan and implement a business venture better. It discusses the tools enhancing the analysis of the business environment in the field of tourism.

Research limitations/implications

This study is explorative in nature because the discussion is mostly based on a literature review. It takes more entrepreneurial/practical than academic approach.

Practical implications

The analyses of the business environment and of the competition in an industry are tasks of critical importance. If these analyses are adequately performed, the probability of success may increase. This chapter discusses the purpose, the process and the implementation of tools of strategic analysis and competitor analysis. Practical recommendations and steps are also provided.

Originality/value

The analytical frameworks, tools and techniques discussed in this chapter should enhance prospective entrepreneurs to adequately perform their task of analysing the tourism business environment.

Details

The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality
Type: Book
ISBN: 978-1-78743-529-2

Keywords

Book part
Publication date: 1 November 2007

Irina Farquhar and Alan Sorkin

This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized innovative…

Abstract

This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized innovative information technology open architecture design and integrating Radio Frequency Identification Device data technologies and real-time optimization and control mechanisms as the critical technology components of the solution. The innovative information technology, which pursues the focused logistics, will be deployed in 36 months at the estimated cost of $568 million in constant dollars. We estimate that the Systems, Applications, Products (SAP)-based enterprise integration solution that the Army currently pursues will cost another $1.5 billion through the year 2014; however, it is unlikely to deliver the intended technical capabilities.

Details

The Value of Innovation: Impact on Health, Life Quality, Safety, and Regulatory Research
Type: Book
ISBN: 978-1-84950-551-2

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