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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…

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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.

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

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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

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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Article
Publication date: 1 January 1995

Stuart Pertz

Reports on a comprehensive study of the real estate and facilitiesgroups of 20 US organizations. Reviews character, growth, age, financeand structure for example. Offers…

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1607

Abstract

Reports on a comprehensive study of the real estate and facilities groups of 20 US organizations. Reviews character, growth, age, finance and structure for example. Offers facilities issues as critical in affecting investment decisions, operational efficiency and cultural attitudes, which in turn can create a comprehensive view of the corporate condition. Argues that this gives a broad view of the organization and insight for today′s needs and tomorrow′s limitations.

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Article
Publication date: 27 July 2020

George Mihaylov and Ralf Zurbruegg

This article examines the relationship between financial risk management and succession planning in family businesses. Motivated by the Theory of Planned Behaviour, we…

Abstract

Purpose

This article examines the relationship between financial risk management and succession planning in family businesses. Motivated by the Theory of Planned Behaviour, we hypothesize that the use of professional risk management practices is associated with an increased likelihood that businesses adopt professionalized approaches to succession planning. We then investigate if succession planning professionalization is, in turn, positively related to the financial performance of family businesses.

Design/methodology/approach

We apply binary probit and ordered dependent variable regressions to unique data generated from a survey sample of Australian family businesses. To check the robustness of our results to potential endogeneity concerns we apply difference tests to propensity score matched sub-samples from our original cohort of respondents.

Findings

The results show that, in contrast to verbal or absent succession arrangements, formal written succession plans are both positively associated with the use of financial risk management practices and with superior financial performance in family businesses.

Originality/value

Our arguments and findings suggest that active financial risk management provides a platform for planning succession in family businesses, and that this links with improved short-term financial performance. In light of the critical role that succession plays in ensuring long-term business sustainability, our findings provide important and novel insights into the conditions under which family businesses are most likely to use formal professionalized succession planning.

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International Journal of Managerial Finance, vol. 17 no. 3
Type: Research Article
ISSN: 1743-9132

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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…

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3091

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.

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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…

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13426

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

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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…

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11138

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.

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

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Article
Publication date: 1 April 2004

Jane E. Mather

As real estate departments and workplace organisations devote more attention to strategic planning, most of the work has focused on improving performance metrics and…

Abstract

As real estate departments and workplace organisations devote more attention to strategic planning, most of the work has focused on improving performance metrics and developing dashboards to communicate this information clearly and concisely. Yet these steps will take these organisations only part of the way. Once they have this information, they need to devote more time to developing strategies and plans. This review examines one of these activities ‐ developing high‐level occupancy plans. Representatives of the strategy and planning groups at ten leading corporations and the occupancy planning experts at seven service providers and system developers were interviewed for this survey. It was found that most firms continue to complete high‐level occupancy plans with tedious and time‐consuming data‐collection processes and spreadsheet analyses. These organisations could improve efficiency and the success of their plans in two ways: better analysis approaches and better data collection and organisation. This review summarises the best practices identified in these areas.

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Journal of Corporate Real Estate, vol. 6 no. 2
Type: Research Article
ISSN: 1463-001X

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Article
Publication date: 1 February 1992

D.T. Brownlie

The successful placing of long‐range technology planning decisionsin the context of overall corporate strategic planning requires amechanism for synthesizing R&D strategy…

Abstract

The successful placing of long‐range technology planning decisions in the context of overall corporate strategic planning requires a mechanism for synthesizing R&D strategy and business strategy. This article argues that formalized technology forecasting has an important operational role to play in achieving the synthesis. Descriptive guidelines for an integrative framework are developed on the basis of a literature review and the author′s technology forecasting work which has been conducted to help devise long‐term research strategy in the offshore industry. Several factors are discussed which are considered to have an important integrative role. Technology forecasting is discussed with respect to these factors and the influence they have on the planning process.

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Industrial Management & Data Systems, vol. 92 no. 2
Type: Research Article
ISSN: 0263-5577

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Article
Publication date: 1 March 1991

Phillip C. Wright and Gary D. Geroy

Qualitative information‐gathering techniques are focused on todetermine whether they can be adapted or adopted to support strategicgoal‐setting. Much of the literature…

Abstract

Qualitative information‐gathering techniques are focused on to determine whether they can be adapted or adopted to support strategic goal‐setting. Much of the literature suggests that if planning is based on information gathered and presented in a manner which managers can understand they are more likely to act on it, and, for this reason, qualitative rather than quantitative techniques are stressed here. Factors which are not amenable to numerate analysis but which are useful to the strategic planner, such as experience, judgement and intuition, are also isolated and analysed. An attempt is made to facilitate the use of qualitative data‐gathering methods and suggestions are made as to where particular techniques may prove beneficial, together with their limitations. Research, from a small (n = 20), in‐depth survey of small business owners/ managers in Canada, is included which shows that they do not use quantitative planning processes but that judgemental techniques were most widely used; in general, the less sophisticated the planning process the higher it would be ranked among the survey participants. The research from other surveys also shows that scientific mathematically based models often do not fit with small business organisational reality and that methodologies should be developed that integrate research into the decision‐making process.

Details

Leadership & Organization Development Journal, vol. 12 no. 3
Type: Research Article
ISSN: 0143-7739

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