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Financial planning in business venturing

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  • Benjamin B. Gansel

Abstract

The literature provides limited methods that aid entrepreneurs in understanding the financial magnitude of their decisions. Conventional planning approaches are adopted from large-scale international companies. The primary aim is the creation of pro-forma financial statements. The paper proposes a financial planning framework that goes beyond existing approaches. Firstly, it provides a decision aid that can improve the decision making of entrepreneurs by identifying critical decisions/uncertainties and revealing the flow of information. Secondly, the framework enhances learning in a highly uncertain environment. Thirdly, it provides a method to accomplish the sequence of financial planning by quantifying the corporate strategy.

Suggested Citation

  • Benjamin B. Gansel, 2008. "Financial planning in business venturing," International Journal of Entrepreneurship and Innovation Management, Inderscience Enterprises Ltd, vol. 8(4), pages 436-450.
    • Handle: RePEc:ids:ijeima:v:8:y:2008:i:4:p:436-450
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