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1 – 10 of over 67000Hilary Schiraldi and Jesse Silva
‐‐ This article aims to describe various free and commercial sources reference librarians can use when confronted with questions about writing a business plan…
Abstract
Purpose
‐‐ This article aims to describe various free and commercial sources reference librarians can use when confronted with questions about writing a business plan.Design/methodology/approach ‐‐ Using a narrative overview, the article describes and provides full bibliographic citations for several free and commercial sources in many formats that can be used to answer reference questions on writing a business plan in the USA.Findings ‐‐ There are many free government and non‐government, as well as commercial, sources that can aid librarians in gathering information relevant to writing a business plan.Originality/value ‐‐ While there are many articles and books about starting a business which have been written for a general audience, there are few articles written for the general reference librarian looking to help a patron with writing a business plan. This article contributes to that small body of work.
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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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Amir M. Hormozi, Gail S. Sutton, Robert D. McMinn and Wendy Lucio
Planning plays an important role in determining the degree of success realized by a new or small business. Essential elements to business success are identification of goals…
Abstract
Planning plays an important role in determining the degree of success realized by a new or small business. Essential elements to business success are identification of goals, followed by development of strategies to meet those goals. A business plan is an effective tool used by businesses to organize these goals and objectives into a coherent format. It can be defined as operating a company on paper. No matter the size or stage of development, companies use business plans to improve internal operations and to describe and market the business to potential outside financiers. A business plan should not only reflect the individuality of the new business but should also follow a standard format. This format is comprised of four major sections: introductory elements, business section, financial statements, and the appendix. This paper seeks to address that utilizing business planning as a tool will allow new or small businesses to achieve and even surpass their goals.
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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 critical…
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.
Donn E. Silvis, Robert E. Rayfield, J. David Pincus and Mu‐Chen Chang
This research paper explores the type and amount of business communication education given to students in Master of Business Administration (MBA) programmes, and offers insight…
Abstract
This research paper explores the type and amount of business communication education given to students in Master of Business Administration (MBA) programmes, and offers insight into the thinking of those who supervise and teach business communication within those programmes. While this particular research study focuses on US MBA schools, it is advocated that this subject and research findings have global relevance. Communication and public relations skills have been recognised as being critical to the success of aspiring managers and business leaders. Prospective managers need to possess not only the skills of communication, but also an appreciation of strategic business communication factors. However, most MBA curricula do not require or recommend communication education for students. This paper compares the findings of two studies: research conducted in 1995–96 (n = 215, 31.5 per cent response rate) replicated a 1991 study (n = 51, 26 per cent response rate). In addition, the paper discusses prior research on the subject and the role and quality of business communication currently found in MBA curricula. It also includes a model communication curriculum for MBA programmes and proposes suggestions for additional research.
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Ronald G. Cook, Paul Belliveau and Mark E. Sandberg
This study examined the output quality of a US microenterprise training program created to help entrepreneurs develop business plans for their ventures. The program concludes with…
Abstract
This study examined the output quality of a US microenterprise training program created to help entrepreneurs develop business plans for their ventures. The program concludes with the entrepreneurs' plans being scored by a panel of experts. Hypotheses were developed and tested to determine the importance of feedback, key components of business plan scores, and differences between teams and solo entrepreneurs. Timely feedback on business plan homework was the most significant driver of business plan quality, contributing to higher scores on the written plan and on the plan's presentation to the expert panel. Plans developed by teams also scored higher than those prepared by solo entrepreneurs.
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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 launched…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Originality/value
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.
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Common pedagogical approaches to entrepreneurship education include business plan writing, case studies, consulting, and simulations. Yet, in effect, these learning vehicles are…
Abstract
Common pedagogical approaches to entrepreneurship education include business plan writing, case studies, consulting, and simulations. Yet, in effect, these learning vehicles are simply proxies for the venture launch process. Operating under the assumption that learning entrepreneurship is a complex endeavor best addressed by a portfolio of pedagogical techniques, some instructors have experimented with launching student businesses in addition to traditional approaches.The challenge is how to do this with inexperienced undergraduate students within the confines of a 15-week semester. Included in the article are an outline of the process, a qualitative assessment of student learning, and suggestions for further research.
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Jiejie Lyu, Deborah M. Shepherd and Kerry Lee
The primary purpose of this research is to explore how the cultural context, in this case, China, influences the teaching of entrepreneurship that seeks to cultivate student…
Abstract
Purpose
The primary purpose of this research is to explore how the cultural context, in this case, China, influences the teaching of entrepreneurship that seeks to cultivate student entrepreneurs during their university experience.
Design/methodology/approach
A qualitative case study approach is adopted to explore how the cultural environment affects the delivery and application of entrepreneurship education to university students in a Chinese context. Seventeen student entrepreneurs and three lecturing staff members in three Chinese universities were interviewed using a semi-structured interview approach.
Findings
The findings suggest that while Chinese universities have been importing teaching models and methods of entrepreneurship education from the United States and other countries, both students and educators are starting to recognise the need for teaching methods to be contextualised and designed based on national conditions and cultural characteristics. Findings from this study highlight cultural fusion and collision in the process of importing and implementing entrepreneurial teaching methods. For example, teaching students how to write a business plan appears to offer limited value for students' start-up activities and their venture development. The didactic teaching method centred on teachers without entrepreneurial experience works for the teaching “about” entrepreneurship but is paradoxical to the goal of teaching “for” entrepreneurship.
Originality/value
Little theoretical or empirical attention has been paid to the complexity of the cultural environment of teaching approaches to entrepreneurship education. This paper provides novel empirical insight into why the cultural environment plays a critical role in teaching approaches to entrepreneurship education and how these teaching approaches can be culturally nuanced to better meet the needs of nascent student entrepreneurs in various cultural contexts.
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