scholarly journals Omitted variable bias in the link between planning and performance

2004 ◽  
Vol 7 (2) ◽  
pp. 27-31 ◽  
Author(s):  
Kirk C. Heriot ◽  
Noel D. Campbell ◽  
R. Zachary Finney
Keyword(s):  
Planning Process ◽  
Business Plan ◽  
New Venture ◽  
Business Plans ◽  
Business Opportunity ◽  
Omitted Variable Bias ◽  
Variable Bias ◽  
And Performance ◽  
True Relationship

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.

scholarly journals Poslovni plan - pojam, namena i proces njegove izrade

2003 ◽  
Vol 44 (157) ◽  
pp. 179-190
Author(s):  
Djordje Kalicanin
Keyword(s):  
Planning Process ◽  
Business Plan ◽  
Financial Resources ◽  
Business Planning ◽  
Business Plans ◽  
Start Ups

Business plan has been one of the most popular management categories in our economy over the last two years. Popularity of business plan has been created from the outside. It is not the result of our managersz belief in its usefulness, but of the creditors request for potential debtors. In that way, business plan is becoming the main negotiating tool in providing financial resources for expanding capacities of the existing firms or start-ups. Creating business plans with this purpose only poses the biggest threat to its implementation. For these reasons, the concept, purposes and business planning process are also presented.

scholarly journals The road to entrepreneurial success: business plans, lean startup, or both?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chris Welter ◽  
Alex Scrimpshire ◽  
Dawn Tolonen ◽  
Eseoghene Obrimah
Keyword(s):  
Objective Measure ◽  
Business Plan ◽  
New Venture ◽  
Hierarchical Regression ◽  
Business Planning ◽  
Content Type ◽  
Business Plans ◽  
The Road ◽  
The Relationship ◽  
Lean Startup

PurposeThe 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/approachThe 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.FindingsThe results show that talking to customers, collecting preorders and pivoting based on customer feedback are lean startup activities correlated with performance; writing a business plan is the sole business planning activity correlated with performance.Research limitations/implicationsThis research lays the foundation for understanding the components of both lean startup and business planning. Moreover, these results demonstrate that the separation of lean startup and business planning represents a false dichotomy.Practical implicationsThese findings suggest that entrepreneurs should engage in some lean startup activities and still write a business plan.Originality/valueThis article offers the first quantitative, empirical comparison of lean startup activities and business planning. Furthermore, it provides support for the relationship between specific lean startup activities and firm performance.

Entrepreneurial Rhetoric and Business Plan Funding

2014 ◽  
pp. 21-35 ◽  
Author(s):  
Thomas H. Allison ◽  
Aaron F. McKenny ◽  
Jeremy C. Short
Keyword(s):  
High Technology ◽  
Business Plan ◽  
New Venture ◽  
Curvilinear Relationship ◽  
Business Plans ◽  
Venture Funding ◽  
Concrete Language ◽  
Funding Research ◽  
Technology Ventures

How entrepreneurs disclose the blemishes of a new venture to investors may be an indicator of relative riskiness and thus may predict how much funding a venture receives. Drawing from venture funding research, the authors propose that hardship rhetoric will have a curvilinear relationship with investment received by a venture. This hypothesis is supported by an analysis of rhetoric reflecting hardship in the memoranda and business plans of 86 high-technology ventures. In addition, the authors find that concrete language in memoranda is positively related to the amount of capital raised. In sum, this study presents the first examination of how the language used in business plans and communications with potential investors influence venture fundraising.

scholarly journals Do expert clinicians make the best managers? Evidence from hospitals in Denmark, Australia and Switzerland

BMJ Leader ◽  
2021 ◽  
pp. leader-2021-000483
Author(s):  
Agnes Bäker ◽  
Amanda H Goodall
Keyword(s):  
Potential Role ◽  
Regression Equations ◽  
Clinical Expertise ◽  
Team Leaders ◽  
Leadership Quality ◽  
Natural Case ◽  
Omitted Variable Bias ◽  
Intentions To Quit ◽  
Variable Bias

IntroductionHospital quality rests on the morale and productivity of those who work in them. It is therefore important to try to understand the kinds of team leaders that create high morale within hospitals.MethodsThis study collects and examines data on 3000 physicians in hospitals from Denmark, Australia and Switzerland. It estimates regression equations to study the statistical predictors of levels of doctors’ job satisfaction, their intentions to quit or stay in their current hospital and their assessment of the leadership quality of their immediate manager. A particular concern of this study is to probe the potential role played by clinical expertise among those in charge of other physicians.ResultsWhen led by managers with high clinical expertise, hospital physicians are (1) more satisfied with their jobs, (2) more satisfied with their supervisors’ effectiveness and (3) less likely to wish to quit their current job. These findings are robust to adjustment for potential confounders, including age and job seniority, and pass a variety of statistical checks (including clustering of SEs and checking for omitted variable bias). They are replicated in each of the three nations.ConclusionPhysicians are happier with their jobs when led by outstanding clinical experts. It is not sufficient, it appears from this evidence, for leaders merely to be clinicians. This suggests that—though only an idealised and presumably infeasible randomised experiment could allow complete certainty—there is a natural case for managers within a hospital hierarchy to be drawn from the ranks of those who are themselves outstanding clinicians.

scholarly journals Using Business Plans For Teaching Entrepreneurship

2012 ◽  
Vol 5 (6) ◽  
pp. 727-742 ◽  
Author(s):  
John Zimmerman
Keyword(s):  
New Ventures ◽  
Business Plan ◽  
Educational Process ◽  
New Venture ◽  
Success Factor ◽  
Planning Tool ◽  
Business Plans ◽  
Student Entrepreneurs ◽  
Key Success Factor

Many educators use the preparation of a Business Plan as a culminating assignment in entrepreneurship courses. Additionally, a number of institutions and organizations conduct business plan competitions to further entrepreneurship education. The objective for both of these exercises is to prepare student entrepreneurs for the challenging task of authoring a coherent and compelling document to communicate their proposed new venture to a variety of audiences including potential investors, lenders, employees, and partners. Some research shows that business plans are not always the key success factor for the success of new ventures, but the exercise of writing a business plan is an important planning tool for entrepreneurs and a valuable integrative educational process for students, because it requires the student to employ concepts from a variety of their courses including marketing, finance, accounting, strategy, operations, and human resources. This paper provides a case study of a recommended method for teaching students how to prepare business plans using the best known methods from the literature, and from the requirements of organizations that finance new ventures. The case study also provides suggested tools for writing the business plan, and a rubric for evaluating the plan.

Pelatihan Business Plan pada UMKM di Desa Koto Rendah Kecamatan Siulak Kabupaten Kerinci

2020 ◽  
Vol 2 (3) ◽  
pp. 129-132
Author(s):  
Musnaini Musnaini ◽  
Besse Wediawati ◽  
Zulfina Adriani ◽  
Rts Ratnawati ◽  
Dessy Elliyana
Keyword(s):  
Business Models ◽  
Joint Venture ◽  
Business Plan ◽  
Agricultural Products ◽  
Knowledge And Skills ◽  
Business Plans ◽  
Medium Enterprises

Usaha Mikro Kecil Menengah (UMKM) yang berada di Desa Koto rendah, Kecamatan Siulak, Kabupaten Kerinci adalah bentuk Kelompok Usaha Bersama (KUBE) dari ibu-ibu rumah tangga yang mempunyai usaha bisnis dalam kuliner, pembibitan, pengolahan hasil pertanian dan perkebunan sekitar yang mereka miliki maupun penduduk setempat. Kegiatan pengabdian ini adalah untuk meningkatkan pengetahuan dan keterampilan mengenai kemampuan untuk melakukan perencanaan bisnis (Business Plan). Selain itu, untuk memberikan peningkatan keterampilan dalam merencanakan bisnis menggunakan bisnis model. Metode yang akan digunakan untuk mencapai tujuan tersebut adalah dengan pelatihan dan pendampingan membuat rencana bisnis dalam lembar kerja bisnis model canvas.Kata Kunci : UMKM, KUBE Business PlanABSTRACTSmall and Medium Enterprises (MSMEs) located in Koto low Village, Siulak Sub-District, Kerinci Regency is a form of Joint Venture Group (KUBE) of housewives who have business ventures in culinary, nursery, processing of agricultural products and plantations. This devotional activity is to improve knowledge and skills regarding the ability to making a Business Plan. In addition, to provide improved skills in businesses plan using business models. The method that will be used to achieve that goal is by training and mentoring business plans in canvas model business worksheets.Kata Kunci : UMKM, KUBE Business Plan

LIGHTING AND PERFORMANCE: AN ANALYSIS ON LIGHTING EFFICIENCY OF ARCHITECTURE STUDIO

2019 ◽  
Vol 1 (1) ◽  
pp. 92
Author(s):  
Fazidah Hanim Husain
Keyword(s):  
Learning Environment ◽  
Comfort Level ◽  
Artificial Lighting ◽  
Level Measurement ◽  
Acceptable Range ◽  
Creative Learning ◽  
Illuminance Level ◽  
And Performance ◽  
Effect Of Light

Lighting is one of the key elements in any space and building infrastructure. Good design for an area in the building requires sufficient light that contributes to the efficiency of the activities. The correct method allows natural light to transmit, reduce heat and glare in providing a conducive learning environment. Light plays a significant influence to the quality of space and contributes focus of the students in an architecture studio. Previous research has shown that the effect of light also controlled emotions, behavior, and mood of the students. The operations of artificial lighting that have been used most of the time in an architecture studio during day and night may create lavishness and inadequacy at the same time. Therefore, this paper focuses on the identifying the quality of light for the architecture studio in UiTM (Perak), to instill a creative learning environment. Several methodologies adopted in this study such as illuminance level measurement using lux meter (LM-8100), and a questionnaire survey in gauging the lighting comfort level from students’ perspective. The study revealed that the illuminance level in the architecture studio is insufficient and not in the acceptable range stated in the Malaysian: Standards 1525:2007 and  not evenly distributed.  The study also concluded that the current studio environment is not condusive and appears monotonous. 

Strategic threats to energy security as risks of quality of people's life

2020 ◽  
Vol 16 (4) ◽  
pp. 730-744
Author(s):  
V.I. Loktionov
Keyword(s):  
Quality Of Life ◽  
Energy Security ◽  
Well Being ◽  
Scientific Methods ◽  
Analysis And Synthesis ◽  
General Scientific ◽  
And Performance ◽  
Economic Well Being ◽  
The Way

Subject. The article reviews the way strategic threats to energy security influence the quality of people's life. Objectives. The study unfolds the theory of analyzing strategic threats to energy security by covering the matter of quality of people's life. Methods. To analyze the way strategic threats to energy security spread across cross-sectoral commodity and production chains and influences quality of people's living, I applied the factor analysis and general scientific methods of analysis and synthesis. Results. I suggest interpreting strategic threats to energy security as risks of people's quality of life due to a reduction in the volume of energy supply. I identified mechanisms reflecting how the fuel and energy complex and its development influence the quality of people's life. The article sets out the method to assess such quality-of-life risks arising from strategic threats to energy security. Conclusions and Relevance. In the current geopolitical situation, strategic threats to energy security cause long-standing adverse consequences for the quality of people's life. If strategic threats to energy security are further construed as risk of quality of people's life, this will facilitate the preparation and performance of a more effective governmental policy on energy, which will subsequently raise the economic well-being of people.

Return on Invesment (ROI) of Software Product: A Systematic Literature Review

2015 ◽  
Vol 6 (1) ◽  
pp. 50-57
Author(s):  
Rizqa Raaiqa Bintana ◽  
Putri Aisyiyah Rakhma Devi ◽  
Umi Laili Yuhana
Keyword(s):  
Return On Investment ◽  
Assessment Criteria ◽  
Software Product ◽  
And Performance ◽  
Rational Consideration ◽  
Actual Return ◽  
The Cost ◽  
Investment Models ◽  
The Impact

The quality of the software can be measured by its return on investment. Factors which may affect the return on investment (ROI) is the tangible factors (such as the cost) dan intangible factors (such as the impact of software to the users or stakeholder). The factor of the software itself are assessed through reviewing, testing, process audit, and performance of software. This paper discusses the consideration of return on investment (ROI) assessment criteria derived from the software and its users. These criteria indicate that the approach may support a rational consideration of all relevant criteria when evaluating software, and shows examples of actual return on investment models. Conducted an analysis of the assessment criteria that affect the return on investment if these criteria have a disproportionate effort that resulted in a return on investment of a software decreased. Index Terms - Assessment criteria, Quality assurance, Return on Investment, Software product

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