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Does business planning facilitate the development of new ventures?
Open accessAbstract
Many prior researchers have criticized business planning, arguing that it interferes with the efforts of firm founders to undertake more valuable actions to develop their fledgling enterprises. In this paper, we challenge this negative view of business planning, arguing that business planning is an important precursor to action in new ventures. By helping firm founders to make decisions, to balance resource supply and demand, and to turn abstract goals into concrete operational steps, business planning reduces the likelihood of venture disbanding and accelerates product development and venture organizing activity. Empirically, we examine 223 new ventures initiated in the first 9 months of 1998 by a random sample of Swedish firm founders and provide support for our hypotheses. Copyright © 2003 John Wiley & Sons, Ltd.
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Cited by
Entrepreneurship and dynamic capabilities: a review, model and research agenda
Zahra, S. A., Sapienza, H. J., & Davidsson, P. (2006) · Journal of Management Studies · doi:10.1111/j.1467-6486.2006.00616.x · Cited by 3,152
“They do not possess the slack resources that would allow time to plan actions or to experiment with different contingencies, even if planning might indeed pay off (Delmar & Shane, 2003).”
BackgroundThe Too-Much-of-a-Good-Thing Effect in Management
Pierce, J. R., & Aguinis, H. (2013) · Journal of Management · doi:10.1177/0149206311410060 · Cited by 1,085
Entrepreneurship Education: Toward a Model of Contingency-Based Business Planning
Honig, B. (2004) · Academy of Management Learning & Education · doi:10.5465/amle.2004.14242112 · Cited by 874
Doganova, L., & Eyquem-Renault, M. (2009) · Research Policy · doi:10.1016/j.respol.2009.08.002 · Cited by 788
The fruit flies of innovations: a taxonomy of innovative small firms
de Jong, J. P. J., & Marsili, O. (2006) · Research Policy · doi:10.1016/j.respol.2005.09.007 · Cited by 445
Metadata
- Authors
- Delmar, F., & Shane, S.
- Venue
- Strategic Management Journal
- Publisher
- Wiley
- Published
- 2003-11-04
- Volume
- 24
- Issue
- 12
- Pages
- 1165-1185
- ISSN
- 0143-2095 (ISSN-L)
- 1097-0266
- OpenAlex
- W2091066942
- Cited by
- 898
- References
- 0
- FWCI
- 31.47
- Type
- journal article
- Language
- en
- Open access
- green
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