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Should entrepreneurs plan or just storm the castle? A meta-analysis on contextual factors impacting the business planning-performance relationship in small firms

  • Brinckmann, Jan
  • Grichnik, Dietmar
  • Kapsa, Diana
Registered author(s):

    Entrepreneurship research engages in an intense debate about the value of business planning. Prior empirical findings have been fragmented and contradictory. This study contributes insights to the business planning discussion by following an evidence-based research approach. We conduct a meta-analysis on the business planning-performance relationship and specifically focus on contextual factors moderating the relationship. Results indicate that planning is beneficial, yet contextual factors such as newness of the firms and the cultural environment of firms significantly impact the relationship. Based on this evidence, we propose a concomitant and dynamic approach that combines planning and learning.

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    Article provided by Elsevier in its journal Journal of Business Venturing.

    Volume (Year): 25 (2010)
    Issue (Month): 1 (January)
    Pages: 24-40

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    Handle: RePEc:eee:jbvent:v:25:y:2010:i:1:p:24-40
    Contact details of provider: Web page: http://www.elsevier.com/locate/jbusvent

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    1. Ardichvili, Alexander & Cardozo, Richard & Ray, Sourav, 2003. "A theory of entrepreneurial opportunity identification and development," Journal of Business Venturing, Elsevier, vol. 18(1), pages 105-123, January.
    2. Davidsson, Per & Honig, Benson, 2003. "The role of social and human capital among nascent entrepreneurs," Journal of Business Venturing, Elsevier, vol. 18(3), pages 301-331, May.
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    6. Gregory A. Baker, 2003. "Strategic Planning and Financial Performance in the Food Processing Sector," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 25(2), pages 470-482.
    7. Carter, Nancy M. & Gartner, William B. & Reynolds, Paul D., 1996. "Exploring start-up event sequences," Journal of Business Venturing, Elsevier, vol. 11(3), pages 151-166, May.
    8. Cooper, Arnold C. & Gimeno-Gascon, F. Javier & Woo, Carolyn Y., 1994. "Initial human and financial capital as predictors of new venture performance," Journal of Business Venturing, Elsevier, vol. 9(5), pages 371-395, September.
    9. Zahra, Shaker A., 1996. "Technology strategy and new venture performance: A study of corporate-sponsored and independent biotechnology ventures," Journal of Business Venturing, Elsevier, vol. 11(4), pages 289-321, July.
    10. Gruber, Marc, 2007. "Uncovering the value of planning in new venture creation: A process and contingency perspective," Journal of Business Venturing, Elsevier, vol. 22(6), pages 782-807, November.
    11. Barringer, Bruce R. & Jones, Foard F. & Neubaum, Donald O., 2005. "A quantitative content analysis of the characteristics of rapid-growth firms and their founders," Journal of Business Venturing, Elsevier, vol. 20(5), pages 663-687, September.
    12. Shane, Scott, 1993. "Cultural influences on national rates of innovation," Journal of Business Venturing, Elsevier, vol. 8(1), pages 59-73, January.
    13. Gartner, William B., 1990. "What are we talking about when we talk about entrepreneurship?," Journal of Business Venturing, Elsevier, vol. 5(1), pages 15-28, January.
    14. Julian E. Lange & Aleksandar Mollov & Michael Pearlmutter & Sunil Singh & William D. Bygrave, 2007. "Pre-start-up formal business plans and post-start-up performance: A study of 116 new ventures," Venture Capital, Taylor & Francis Journals, vol. 9(4), pages 237-256, April.
    15. Haber, Sigal & Reichel, Arie, 2007. "The cumulative nature of the entrepreneurial process: The contribution of human capital, planning and environment resources to small venture performance," Journal of Business Venturing, Elsevier, vol. 22(1), pages 119-145, January.
    16. Hills, Gerald E., 1988. "Variations in University entrepreneurship education: An empirical study of an evolving field," Journal of Business Venturing, Elsevier, vol. 3(2), pages 109-122.
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