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Article
Publication date: 1 March 2004

Kirk C. Heriot, Noel D. Campbell and R. Zachary Finney

This article argues that existing research poorly specifies the link between planning and performance because of omitted variable bias. Researchers agree planning is a…

1246

Abstract

This article argues that existing research poorly specifies the link between planning and performance because of omitted variable bias. Researchers agree planning is a critical part of creating any new venture. Many researchers assess planning by whether a small firm has a written business plan. Unfortunately, efforts empirically to validate this relationship have been inconclusive. This article proposes that researchers should assess business plans both on the quality of the plan (and the planning process that produced it), and on the quality of the underlying business opportunity. Failure to account for both aspects of a business plan amounts to omitted variable bias, frustrating attempts to accurately estimate the true relationship.

Details

New England Journal of Entrepreneurship, vol. 7 no. 2
Type: Research Article
ISSN: 2574-8904

Book part
Publication date: 11 July 2018

Marisol Alonso-Vazquez, María del Pilar Pastor-Pérez and Martha Alicia Alonso-Castañón

The aim of this chapter is to present an overview of how entrepreneurs’ management activity can be assisted by utilising business plans. The main purpose of this chapter…

Abstract

Purpose

The aim of this chapter is to present an overview of how entrepreneurs’ management activity can be assisted by utilising business plans. The main purpose of this chapter is to guide prospective tourism entrepreneurs to make a reflection on management decision-making when starting up a micro-, small- or medium-sized tourism venture.

Methodology/approach

This chapter was built on a review of management literature and authors’ industry experiences.

Findings

This chapter suggests that a well-designed business plan can help prospective entrepreneurs to (1) facilitate their decision-making, (2) minimise their risk perception and (3) increase their venture’s success probability.

Research limitations/implications

This chapter is descriptive in nature to illustrate how business plans are useful instruments for decision-making in management and marketing areas.

Practical implications

The practical/entrepreneurial approach practical of this chapter contributes to highlight the utility and value of a business plan for any micro, small or medium tourism, travel, leisure or event venture.

Originality/value

This chapter is useful for prospective entrepreneurs who are planning to launch a venture but have not decided yet how to shape and start a tourism business venture.

Details

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

Keywords

Abstract

Details

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

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

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.

Details

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

Keywords

Article
Publication date: 2 September 2021

Francesca Dal Mas, Maurizio Massaro, Paola Paoloni and Aino Kianto

This paper aims to analyse the role of business plan development as a knowledge translation tool, especially for the creation of start-ups. In a complex knowledge…

Abstract

Purpose

This paper aims to analyse the role of business plan development as a knowledge translation tool, especially for the creation of start-ups. In a complex knowledge ecosystem populated by multiple diverse and autonomous actors (such as potential entrepreneurs, local companies, local public entities and business consultants) bonded together by a joint search for valuable knowledge, business plan development can work as a powerful enabler for the translation of knowledge.

Design/methodology/approach

The study uses a qualitative multi-case study approach by examining the results of a public programme devoted to the creation of new entrepreneurial ventures. The authors analysed 418 complete business plans and followed up with all the participants with an interview. In total, 40 cases were investigated more in detail.

Findings

Results show how business plan development can function as a bridge between academic, theoretical and general knowledge on start-up creation on the one hand and practical contextualised activities of potential entrepreneurs on the other.

Practical implications

The process of knowledge translation is crucial to ensure that relevant knowledge coming from both the inside (the entrepreneur) and outside (the stakeholders) of the organisation is effectively applied. To facilitate the translation process, key knowledge users should be supported in contextualising and making sense of the research knowledge. Initiatives carried out by local entities and other actors, gathering several stakeholders to develop business plans, can become valuable opportunities to facilitate the translation process for start-up development.

Originality/value

The paper contributes to knowledge management and knowledge translation literature by demonstrating the role of business plan development as an effective knowledge translation enabler. It also adds to the understanding of innovation management and entrepreneurial education by proving the relevance of the translation of knowledge for the creation of new business ventures.

Details

VINE Journal of Information and Knowledge Management Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2059-5891

Keywords

Article
Publication date: 1 December 1999

Ernest Jordan

This paper presents an analysis of selected participants in a survey of Australian organisations’ approaches to business and information technology (IT) contingency…

3132

Abstract

This paper presents an analysis of selected participants in a survey of Australian organisations’ approaches to business and information technology (IT) contingency planning. In particular, it examines the role of management in planning and setting priorities for contingency planning, especially in those organisations that have specified that IT is critical to the business operations. The survey was undertaken because there was a perception that coping with disaster is a much‐neglected aspect of management in Australia, and this analysis examines the underlying attitudes. The findings reveal that most organisations are inadequately prepared and fail to take the issue seriously. Business continuity is not rated as a high priority. Managers in the IT area are also expected to take the responsibility for contingency planning for the whole business.

Details

Information Management & Computer Security, vol. 7 no. 5
Type: Research Article
ISSN: 0968-5227

Keywords

Article
Publication date: 12 December 2019

Kayleigh Watson and Pauric McGowan

The purpose of this paper is to focus with the university-based business plan competition (BPC) and proposes how the theory of effectuation might inform a new model. Such…

Abstract

Purpose

The purpose of this paper is to focus with the university-based business plan competition (BPC) and proposes how the theory of effectuation might inform a new model. Such a purpose is timely given the under-challenged nature of the BPC methodology.

Design/methodology/approach

Extant literature pertaining to business planning and the business plan within entrepreneurship education and effectuation is reviewed; numerous conceptual issues which undermine BPC provision in its traditional form are then identified. In response to these identified issues, a series of principles which could underpin the introduction of an effectuation-led business coopetition (EBC) are outlined.

Findings

Strong emphasis on business plan production within a conventional BPC model raises questions about its capacity to release the entrepreneurial potential of the higher education institution student and provide them with an authentic and relevant entrepreneurial learning experience. Through using the ideas of effectuation to rethink provision, the action of business plan production can usefully be replaced with the action of business implementation. As well as facilitate a beneficial shift from competition to coopetition-based entrepreneurship education.

Originality/value

This paper valuably critiques the efficacy of a commonly employed yet under-challenged methodology for entrepreneurship education; the BPC. The propositions offered can guide competition provision in a more authentic, realistic and relevant way that is potentially better suited to inspiring and supporting entrepreneurial new venturing amongst students and graduates now rather than in the future. The paper thus has practical value to those designing and delivering competition-based entrepreneurship education.

Article
Publication date: 1 February 2013

Siwan Mitchelmore and Jennifer Rowley

This paper aims to explore the planning strategies of female entrepreneurs who have indicated a desire to grow their businesses, the time horizons of planning strategies…

3220

Abstract

Purpose

This paper aims to explore the planning strategies of female entrepreneurs who have indicated a desire to grow their businesses, the time horizons of planning strategies and the relationship between planning horizons and number of employees and annual sales as measures of business performance.

Design/methodology/approach

In order to gather data for this exploratory study, a questionnaire was sent by e‐mail to members of networks of female entrepreneurs across England and Wales. Questionnaires were selected for analysis on the basis of an indication from the respondent that they wished to grow their business. Data were entered into SPSS to generate descriptive statistics, and conduct hypothesis testing.

Findings

The most preferred business growth strategies were: improving existing products or services and expanding advertising and promotion. Planning horizons are very short (often under three months), although the planning horizons associated with new products and entry into new markets were in some instances a little longer. Such short planning horizons could have serious consequences for business performance and growth. The planning horizons for cashflow, and investment in infrastructure showed a correlation with number of employees, whilst the planning horizons for cashflow, new product development, and expenditure showed a correlation with annual sales.

Practical implications

Female entrepreneurs need to be encouraged to extend their planning horizons, especially in terms of financial indicators such as expenditure, cash flow, and investment.

Originality/value

This research contributes to the growing literature on female entrepreneurs and their business, by providing further insight into their growth strategies and planning horizons.

Article
Publication date: 1 May 1983

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This…

14156

Abstract

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

Details

Management Decision, vol. 21 no. 5
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 1 June 1985

The librarian and researcher have to be able to uncover specific articles in their areas of interest. This Bibliography is designed to help. Volume IV, like Volume III…

11635

Abstract

The librarian and researcher have to be able to uncover specific articles in their areas of interest. This Bibliography is designed to help. Volume IV, like Volume III, contains features to help the reader to retrieve relevant literature from MCB University Press' considerable output. Each entry within has been indexed according to author(s) and the Fifth Edition of the SCIMP/SCAMP Thesaurus. The latter thus provides a full subject index to facilitate rapid retrieval. Each article or book is assigned its own unique number and this is used in both the subject and author index. This Volume indexes 29 journals indicating the depth, coverage and expansion of MCB's portfolio.

Details

Management Decision, vol. 23 no. 6
Type: Research Article
ISSN: 0025-1747

Keywords

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