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Full-Text Articles in Business
The Road To Entrepreneurial Success: Business Plans, Lean Startup, Or Both?, Chris Welter, Alex Scrimpshire, Dawn Tolonen, Eseoghene Obrimah
The Road To Entrepreneurial Success: Business Plans, Lean Startup, Or Both?, Chris Welter, Alex Scrimpshire, Dawn Tolonen, Eseoghene Obrimah
New England Journal of Entrepreneurship
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 …
Effective Business Planning: A Structured Approach: A Guide For Entrepreneurs, Alison J. Paster
Effective Business Planning: A Structured Approach: A Guide For Entrepreneurs, Alison J. Paster
New England Journal of Entrepreneurship
Book review by Alison J. Paster.
Masterfano, Michele K. Effective Business Planning: A Structured Approach: A Guide for Entrepreneurs. Dubuque, IA: Kendall Hunt Publishing, 2010. ISBN 9780757575044
Effective Business Planning: A Structured Approach: A Guide for Entrepreneurs is an easy-to-follow book and learning tool that provides detailed and informative guidelines for writing a business plan.
Omitted Variable Bias In The Link Between Planning And Performance, Kirk C. Heriot, Noel D. Campbell, R. Zachary Finney
Omitted Variable Bias In The Link Between Planning And Performance, Kirk C. Heriot, Noel D. Campbell, R. Zachary Finney
New England Journal of Entrepreneurship
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 …