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1 – 10 of over 6000Raquel 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…
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.
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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.
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.
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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…
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.
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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.
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.
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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…
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.
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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.
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.
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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…
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.
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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.
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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…
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.
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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…
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.
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