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Open Access
Article
Publication date: 25 February 2019

Raquel Ferreras-Garcia, Ana Beatriz Hernández-Lara and Enric Serradell-López

The purpose of this paper is twofold: first, to study which perceived and attained entrepreneurial competences acquired by students while developing a business plan are rated most…

10458

Abstract

Purpose

The purpose of this paper is twofold: first, to study which perceived and attained entrepreneurial competences acquired by students while developing a business plan are rated most highly; and second, to analyse the differences observed in entrepreneurial competences, depending on whether the business plan developed is real or fictitious.

Design/methodology/approach

To analyse the role played by business plans in perceptions and attainment of competence, data were collected from students enrolled on a final project course of a bachelor’s degree, specifically the Bachelor’s Degree in Business Administration and Management at the Universitat Oberta de Catalunya. The course in question focussed on entrepreneurship and business plans. The data on perceived and attained competences were obtained through questionnaires and assessment rubrics, respectively. Mean comparison analyses were conducted to investigate any differences in entrepreneurial competences existing between students developing real or fictitious business plans.

Findings

The paper finds evidence that the process of creating a business plan results in entrepreneurial competence being highly rated and that whether the business plan is real or fictitious does not affect the level of entrepreneurial competence.

Research limitations/implications

A longitudinal study will be required to analyse how entrepreneurial competences evolve during the business plan creation process.

Originality/value

This paper finds that few studies have been conducted to explore entrepreneurial competences in relation to business plan development and shows that more complete research is required. Moreover, both perceived and achieved competences are considered, an analysis not previously carried out.

Details

Education + Training, vol. 61 no. 7/8
Type: Research Article
ISSN: 0040-0912

Keywords

Open Access
Article
Publication date: 31 August 2022

Diego Campagnolo, Catherine Laffineur, Simona Leonelli, Aloña Martiarena, Matthias A. Tietz and Maria Wishart

Against the theoretical backdrop of the embeddedness and the resilience literatures, this paper investigates if and how SMEs' planning for adversity affects firms' performance.

1200

Abstract

Purpose

Against the theoretical backdrop of the embeddedness and the resilience literatures, this paper investigates if and how SMEs' planning for adversity affects firms' performance.

Design/methodology/approach

The paper develops hypotheses that investigate the link between the risk management of immigrant-led and native-led SMEs and their performance and draw on novel data from a survey on 900 immigrant- and 2,416 native-led SMEs in 5 European cities to test them.

Findings

Immigrant-led SMEs are less likely to implement an adversity plan, especially when they are in an enclave sector. However, adversity planning is important to enhance the growth of immigrant-led businesses, even outside a crisis period, and it reduces the performance gap vis-à-vis native-led businesses. Inversely, the positive association between adversity planning and growth in the sample of native entrepreneurs is mainly driven by entrepreneurs who have experienced a severe crisis in the past.

Originality/value

This paper empirically uses planning for adversity as an anticipation stage of organizational resilience and tests it in the context of immigrant and native-led SMEs. Results support the theoretical reasoning that regularly scanning for threats and seeking information beyond the local community equips immigrant-led SMEs with a broader structural network which translates into new organizational capabilities. Furthermore, results contribute to the process-based view of resilience demonstrating that regularly planning for adversity builds a firm's resilience potential, though the effect is contingent on the nationality of the leaders.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 28 no. 7
Type: Research Article
ISSN: 1355-2554

Keywords

Open Access
Article
Publication date: 19 February 2021

Chris Welter, Alex Scrimpshire, Dawn Tolonen and Eseoghene Obrimah

The goal of this research is to investigate the relationship between two different sets of practices, lean startup and business planning, and their relation to entrepreneurial…

13904

Abstract

Purpose

The goal of this research is to investigate the relationship between two different sets of practices, lean startup and business planning, and their relation to entrepreneurial performance.

Design/methodology/approach

The authors collected data from 120 entrepreneurs across the US about a variety of new venture formation activities within the categories of lean startup or business planning. They use hierarchical regression to examine the relationship between these activities and new venture performance using both a subjective and objective measure of performance.

Findings

The results show that talking to customers, collecting preorders and pivoting based on customer feedback are lean startup activities correlated with performance; writing a business plan is the sole business planning activity correlated with performance.

Research limitations/implications

This research lays the foundation for understanding the components of both lean startup and business planning. Moreover, these results demonstrate that the separation of lean startup and business planning represents a false dichotomy.

Practical implications

These findings suggest that entrepreneurs should engage in some lean startup activities and still write a business plan.

Originality/value

This article offers the first quantitative, empirical comparison of lean startup activities and business planning. Furthermore, it provides support for the relationship between specific lean startup activities and firm performance.

Details

New England Journal of Entrepreneurship, vol. 24 no. 1
Type: Research Article
ISSN: 2574-8904

Keywords

Open Access
Article
Publication date: 30 November 2021

Mira Bloemen-Bekx, Frank Lambrechts and Anita Van Gils

This study explores how and when intuitive forms of planning can be used in a family firm's succession process.

1776

Abstract

Purpose

This study explores how and when intuitive forms of planning can be used in a family firm's succession process.

Design/methodology/approach

The study uses an extended focus group meeting, consisting of individual, group and subgroup discussions with seven highly experienced external family business advisors in the Netherlands to gain a holistic understanding of the succession process and its underlying logic. The study also employs pre- and post-group questionnaires.

Findings

This study reveals that advisors perceive intuitive forms of planning as an integral part of the succession process, with the latter containing both intuitive and formal logic and activities. Both logics are used situationally and flexibly to deal with the uniqueness and unpredictability of the succession process and to build strong relations and manage relational dynamics in business families to address tasks, dilemmas and contingencies.

Originality/value

The succession process is an important part of business families' achievement of transgenerational intent. Creating commitment among potential successors begins when they are children, and understanding the role of the more intuitive forms of planning during the succession process will provide us with a more holistic perspective on its dynamics.

Details

Journal of Family Business Management, vol. 13 no. 2
Type: Research Article
ISSN: 2043-6238

Keywords

Open Access
Article
Publication date: 3 May 2021

Filippo Ferrari

Drawing on the theory of planned behaviour, this research aims to investigate systemically if and how incumbents and successors share attitudes, social norms and perception of the…

3601

Abstract

Purpose

Drawing on the theory of planned behaviour, this research aims to investigate systemically if and how incumbents and successors share attitudes, social norms and perception of the feasibility of their business succession.

Design/methodology/approach

Qualitative research carried out on a group of small Italian family firms (N = 10).

Findings

This study provides evidence of background mechanisms (attitudes, social norms and perception of feasibility) affecting the implementation of business succession planning in family SMEs. Moreover, this study provides further evidence supporting the role of social norms in strategic decision-making processes within family firms.

Research limitations/implications

Findings from this study contribute to current literature in multiple ways and have several research implications.

Practical implications

This study highlights that it is more appropriate to adopt a systemic rather than an individualistic approach in investigating/managing business succession.

Social implications

Family firms are the most widespread type of firms in the world; thus, a systematic failure in business transmission represents a prominent socioeconomical problem for policy-makers and institutions.

Originality/value

This study leads to further developments in exploring business succession from a psychological point of view. Findings also highlight the limits of how a theory applied in order to predict individual behaviour can provide insight into collective behaviour involving a family.

Details

Journal of Family Business Management, vol. 13 no. 2
Type: Research Article
ISSN: 2043-6238

Keywords

Open Access
Article
Publication date: 9 January 2020

Claus-Heinrich Daub, Marina Hasler, Arie Hans Verkuil and Uta Milow

This paper aims to describe an innovative approach of integrating sustainability into the structures and processes of a business school without creating resistance.

2708

Abstract

Purpose

This paper aims to describe an innovative approach of integrating sustainability into the structures and processes of a business school without creating resistance.

Design/methodology/approach

A sustainable entrepreneurship competition was embedded as an independent programme in an already existing business plan competition at the School of Business FHNW. The paper shows, which structural elements of the competition had to be adapted to the needs of sustainable entrepreneurs.

Findings

The paper outlines aspects that need to be considered and steps that need to be taken to run a sustainable entrepreneurship competition supporting as many high-quality projects as possible. It describes the importance of developing an independent instrument that meets the specific needs of sustainable entrepreneurs in project planning. The sustainable innovation plan is explained.

Social implications

The student projects are developed at the School of Business FHNW as part of the entrepreneurship competition, which has been successfully carried out twice. They have numerous measurable positive social and ecological effects, which are described by the students in their sustainable innovation plans and are subsequently reflected in the realization of the projects.

Originality/value

Using the example of the Swiss Student Sustainability Challenge, the paper demonstrates under which conditions a sustainability project can be successfully integrated into the existing structures of an institution of higher education and develop into a beacon project of the university. Other universities can make use of these findings to launch comparable projects at their institutions.

Details

International Journal of Sustainability in Higher Education, vol. 21 no. 1
Type: Research Article
ISSN: 1467-6370

Keywords

Open Access
Article
Publication date: 27 July 2021

Masatoshi Fujii, Chie Hosomi and Yoshiaki Nose

This study aims to fill the gap in previous research that focuses on the superficial aspects of equity crowdfunding (ECF) campaigns and financial practices by examining financial…

2474

Abstract

Purpose

This study aims to fill the gap in previous research that focuses on the superficial aspects of equity crowdfunding (ECF) campaigns and financial practices by examining financial literacy aspects, such as due diligence and valuation, in terms of factors that influence Japanese individual investors' investments in ECF.

Design/methodology/approach

The status of information disclosure in ECF campaigns is checked. In addition, the feasibility of the initial due diligence and valuation using this information is verified. Specifically, the lack of financial literacy hypothesis is developed and (1) expected market capitalization in the final fiscal year of the business plan and (2) expected returns on investment (IRR: internal rate of return) are estimated.

Findings

ECF campaigns in Japan disclose information equivalent to that obtained by professional venture capitalists. Analysis of the disclosed business plan allows for initial due diligence and valuation. By contrast, due diligence reveals that some projects are unlikely to be listed even if their business plans are met, and others have low IRRs. In addition, a stock acquisition rights project, in which even professional investors are unable to calculate IRRs, is completed at the same rate as a common stock project; this suggests that individual investors lack financial literacy.

Originality/value

Analyzing ECF from financial literacy aspects, such as due diligence and valuation, is unique. Such aspects are essential for private equity investments but have not been addressed in previous studies.

Details

Journal of Capital Markets Studies, vol. 5 no. 1
Type: Research Article
ISSN: 2514-4774

Keywords

Open Access
Article
Publication date: 11 July 2023

Fabian Hoeft

As quarterly business reviews (QBRs) remained unexplored in the scholarly community, this paper sheds light on what QBRs are, how they are being used across organisations and…

Abstract

Purpose

As quarterly business reviews (QBRs) remained unexplored in the scholarly community, this paper sheds light on what QBRs are, how they are being used across organisations and provides deep insights into the implementation of the QBR at an incumbent car manufacturer’s digital transformation business unit. Particular attention has been paid to decision processes, portfolio management, challenges and success factors.

Design/methodology/approach

Given the explorative nature of the research, a case study is well suited to explore the phenomenon in its real-world context, especially given the dynamic and volatile business environment. This article is based on insights from an incumbent car manufacturer undergoing a business-wide transformation.

Findings

The car manufacturer introduced the QBR process and themes to improve business effectiveness and efficiency through (1) focusing on the biggest issues, (2) concentrating efforts, (3) providing autonomy and stability, (4) building and maintaining strong relationships, and (5) building domain expertise. Through the QBR process, themes were (de)prioritised, resources allocated, financial value (estimates) agreed upon, and key performance indicators (e.g. £m/FTE; FTE, full-time equivalent employees) introduced. Digital product managers’ were assigned to the prioritised themes, and portfolio management structures were presented.

Originality/value

Managing short- and long-term objectives is challenging for most businesses but essential to perform well in uncertain environments. The QBR process can help organisations continuously (de)prioritise work and reallocate resources based on changing environments and aligned with strategic priorities.

Details

Digital Transformation and Society, vol. 2 no. 4
Type: Research Article
ISSN: 2755-0761

Keywords

Open Access
Article
Publication date: 2 January 2023

Antonis Skouloudis, Walter Leal Filho, Georgios Deligiannakis, Panagiotis Vouros, Ioannnis Nikolaou and Konstantinos Evangelinos

This paper aims to investigate aspects of flood experience, attitudes and responses of micro-, small- and medium-sized enterprises (MSMEs) in Greece and to indicate a typology of…

2523

Abstract

Purpose

This paper aims to investigate aspects of flood experience, attitudes and responses of micro-, small- and medium-sized enterprises (MSMEs) in Greece and to indicate a typology of strategies associated with their relative effort to build flood resilience capacity.

Design/methodology/approach

A qualitative study protocol was used, based on pertinent literature that considers how business entities withstand, adapt and/or recover from non-linear climate change impacts, natural hazards and extreme weather. Data was obtained by conducting semi-structured interviews with 82 MSMEs’ owners-managers who had recently experienced flooding.

Findings

The study reports limited activities of MSMEs towards flood resilience capacity despite the threat of relevant disasters. Findings suggest that most owners-managers of these enterprises are not adequately preparing their businesses for the impacts of flooding.

Research limitations/implications

The findings call for multi-level and dynamic perspectives to be examined in assessing MSME resilience capacity to floods. It is attitudinal, managerial, organisational, behavioural and regulatory (as well as other institutional) factors that merit further investigation. Such an investigation would allow a better understanding as to whether these factors hinder or enable conditions for microeconomic flood preparedness and resilience as well as how they may interact with each other or create feedback loops.

Practical implications

The study carries managerial implications and policy recommendations in terms of nurturing opportunities towards awareness-raising campaigns for reducing deficits in managerial knowledge and competencies. It also encapsulates practical implications in terms of emphasising supporting mechanisms from key institutional stakeholders to allow MSMEs scan available options they have in effectively reinforcing the business premises from the forces of rising waters.

Originality/value

Most of the related studies have examined flood impacts, responses and/or resilience capacity at the household- or community-level. Empirical work that is conducted to ascertain how MSMEs cope with flooding remains thin on the ground. In response to this, the current study and the typology of MSMEs’ strategic postures that are suggested seek to contribute to this under-researched topic.

Details

International Journal of Climate Change Strategies and Management, vol. 15 no. 1
Type: Research Article
ISSN: 1756-8692

Keywords

Open Access
Article
Publication date: 8 August 2018

Andreas Gabriel and Vera Bitsch

While many studies in family business research focus on mono-causal impacts of succession, the purpose of this paper is to employ a systemic approach to analyze dynamic effects of…

8139

Abstract

Purpose

While many studies in family business research focus on mono-causal impacts of succession, the purpose of this paper is to employ a systemic approach to analyze dynamic effects of intra-family succession on multiple business areas in family-run companies.

Design/methodology/approach

A system analysis using a participatory approach was conducted for a reference family-run company operating in the horticultural retail sector in Germany. The Vester Sensitivity Model, supplemented with principles from system thinking was used to identify key variables related to intra-family succession.

Findings

Expert input and analysis of variable co-occurrence revealed key variables associated with succession such as “strategic planning,” “productivity” and “financial flexibility.” Dynamic interactions among various business areas were identified by simulating interventions in succession trajectories. In particular, key variables such as “conflicts between family and work” and “organizational climate” turned out to be highly sensitive to changes during a succession process.

Practical implications

The concept and design of this system analysis tool will allow practitioners such as company managers and business consultants to better understand complex interrelations within companies and provide additional guidance with regard to critical events like business transfer.

Originality/value

The present study uses system thinking to analyze succession and its dynamic and time-lagged impacts on affected business areas in family-run companies for the first time. Repeated application of the systemic approach presented here to real-world business cases will gradually improve the tool and the quality of information it provides.

Details

Journal of Small Business and Enterprise Development, vol. 26 no. 3
Type: Research Article
ISSN: 1462-6004

Keywords

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