scholarly journals 7.6. Business planning for innovative startups

2020 ◽  
Author(s):  
И.Р. Ханафиева
Keyword(s):  
Business Plan ◽  
Management Tool ◽  
Financial Resources ◽  
Business Planning ◽  
Business Plans ◽  
Start Up ◽  
Financial Plan ◽  
Innovation Project ◽  
Start Ups ◽  
Theoretical Foundations

В статье рассмотрены теоретические основы бизнес-планирования стартапа. Раскрыта сущность бизнес-плана как специального инструмента, используемого в современной рыночной экономике в качестве средства контроля и управления бизнесом.Определена важность соблюдения сбалансированности основных разделов бизнес-плана стартапа: необходимо, чтобы описательная часть и финансовый план согласовывались друг с другом, поскольку по отдельности они не отражают инновационную идею полностью.Рассмотрены функции бизнес-плана и задачи, на решение которых направлен бизнес-план в процессе достижения поставленной цели. Представлена последовательная структура бизнес-плана стартапа (инновационного проекта). The article discusses the theoretical foundations of start-up business planning as a process where a business plan is a business card necessary to attract financial resources. The essence of the business plan as a special management tool used in the modern market economy as a means of monitoring and managing the business is revealed.The importance of balancing the main sections of the start-up business plan is determined: it is necessary that the narrative and financial plan are consistent with each other, because individually they do not fully reflect the innovative idea.The functions of the business plan and the tasks that are addressed by the business plan in the process of achieving this goal are considered. The consistent structure of a start-up business plan or innovation project is presented.The process of preparing a business plan for start-ups is a complex and time-consuming process, as a result of which the most well-known Western methods for developing business plans for innovative start-ups, which are the basis of Russian methods, are considered.

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 Developing start-ups with academic support in Romania

2019 ◽  
Author(s):  
Anca-Olga Andronic ◽  
Razvan-Lucian Andronic ◽  
Gica Cruceru
Keyword(s):  
Central Region ◽  
Academic Staff ◽  
Academic Support ◽  
Business Plan ◽  
Entrepreneurship Training ◽  
Business Plans ◽  
Training Course ◽  
Start Up ◽  
Entrepreneurial Training ◽  
Start Ups

The objective of the paper is to present how experts from Spiru Haret University have been involved in the development and implementation of a project aimed at the start-up development in the Central region of Romania, This project runs within one of the first European funded programs where universities are eligible. The project ran through the first stage of entrepreneurship training by September 2018, where 371 members of the target group (of the 403 selected) completed an entrepreneurial training course, supported by academic staff. Subsequently, a business plan competition was organized in two sessions (in November and December 2018), following which 38 business plans were selected, the ones selected attended training in the same industry they intend to develop their business. By July 2020, the 38 selected entrepreneurs will benefit from counseling and mentoring services, along with the monitoring of the business plan.

An Alternative to Business Plan Based Advice for Start-ups?

2012 ◽  
Vol 26 (6) ◽  
pp. 443-452 ◽  
Author(s):  
Simon Bridge ◽  
Cecilia Hegarty
Keyword(s):  
Higher Education ◽  
Higher Education Institutions ◽  
Business Plan ◽  
Business Plans ◽  
Start Up ◽  
Business Support ◽  
New Business ◽  
Pros And Cons ◽  
Start Ups

Business plans are advocated by many business support professionals and others, such as educators in higher education institutions, because they suit their purposes. A typical view is that a business plan is ‘one of the most important steps in setting up any new business’ (Burns, 2011); but their hegemony is now being questioned. Sarasvathy (2008) suggests that effectuation is the method often favoured by expert entrepreneurs and this paper seeks to combine it with an exploration view of entrepreneurship to produce an alternative tool for start-up ventures. The paper compares the pros and cons of each approach and suggests that an exploration approach is often more natural, logical and effective than the business plan based alternative.

Service Logic Business Model Canvas for Lean Development of SMEs and Start-Ups

2020 ◽  
pp. 436-463
Author(s):  
Jukka Ojasalo ◽  
Katri Ojasalo
Keyword(s):  
Business Model ◽  
Business Models ◽  
Business Community ◽  
Service Development ◽  
Model Framework ◽  
Business Plans ◽  
Business Model Canvas ◽  
Start Up ◽  
Service Logic ◽  
Start Ups

Business models have made a breakthrough both in the academic and in business community in the area business development. Old fashioned business plans are in many cases considered as a waste of time and resources. Particularly start-ups and SMEs have a great potential to take advantage of business model approach which allows lean and agile product and service development. However, the existing widely used business model frameworks are lacking the new service logic orientation. They mostly see the world in terms of goods logic. Since all sizes of businesses in all industries are increasingly adopting the service logic or service-dominant logic, there was a clear need to develop a new service logic based business model framework. Based on an extensive empirical study with both practitioners and academics, a new Service Logic Business Model Canvas was developed to fill this need. This chapter explains the theoretical foundations of this framework in SME and start-up context, as well as the framework itself and its application.

Service Logic Business Model Canvas for Lean Development of SMEs and Start-Ups

2016 ◽  
pp. 217-243 ◽  
Author(s):  
Jukka Ojasalo ◽  
Katri Ojasalo
Keyword(s):  
Business Model ◽  
Business Models ◽  
Business Community ◽  
Service Development ◽  
Model Framework ◽  
Business Plans ◽  
Business Model Canvas ◽  
Start Up ◽  
Service Logic ◽  
Start Ups

Business models have made a breakthrough both in the academic and in business community in the area business development. Old fashioned business plans are in many cases considered as a waste of time and resources. Particularly start-ups and SMEs have a great potential to take advantage of business model approach which allows lean and agile product and service development. However, the existing widely used business model frameworks are lacking the new service logic orientation. They mostly see the world in terms of goods logic. Since all sizes of businesses in all industries are increasingly adopting the service logic or service-dominant logic, there was a clear need to develop a new service logic based business model framework. Based on an extensive empirical study with both practitioners and academics, a new Service Logic Business Model Canvas was developed to fill this need. This chapter explains the theoretical foundations of this framework in SME and start-up context, as well as the framework itself and its application.

EU E-Commerce Policies

2004 ◽  
pp. 156-184
Author(s):  
Anne Wiggins
Keyword(s):  
Role Models ◽  
Innovation Policy ◽  
Competitive Environment ◽  
Business Plans ◽  
Policy Initiatives ◽  
Adoption And Implementation ◽  
Start Up ◽  
The Uk ◽  
Start Ups ◽  
The Impact

This chapter not only presents an overview of the theoretical awareness and understanding of innovation, but also identifies and discusses existing EU innovation policy initiatives for SMEs, deliberating on the impact such policy initiatives have on their specific considerations. This chapter examines the strategic implications of the adoption and implementation of e-commerce by two successful start-up SMEs in the UK presented against a backdrop of relevant EU policy initiatives. SMEs, and start-ups particularly, find themselves having to operate without role models and tested business plans within an increasingly complex and competitive environment.

scholarly journals MAIN DIRECTIONS IN THE BUSINESS PLAN FOR BUILDING A HEALTH ORGANIZIATION

2019 ◽  
Vol 31 (5) ◽  
pp. 1481-1491
Author(s):  
Stojan Kocev ◽  
Dusko Kocev
Keyword(s):  
Business Plan ◽  
Executive Branch ◽  
Small Business Administration ◽  
Management Tool ◽  
Communication Tool ◽  
Product Lines ◽  
Simple Description ◽  
Business Plans ◽  
Process Factors ◽  
Over Time

Business plan is an important tool for managing and growing the planned business. A well-designed plan sets the vision for growth and the steps needed to get there. The plan is also a indispensable communication tool to attract finance to the planned business as well as managers and employees while business grows. The primary goal of a business plan is to define what a business is or what are the intentions to be achieved over time. Harmonizing the goal and direction of a business allows you to understand what needs to be done to move forward. The alignment can consist of a simple description of the business and its products or services. It can specify the exact product lines and services to be offered, as well as a detailed description of the ideal customer-client. Businesses are evolving and adapting over time, and process factors (primarily economically) for future growth and direction in the business plan can be an effective way to plan for market changes, growing or slowing trends, and new innovations or directions that should be taken while the company is growing. While clarifying the direction in the business plan allows you to know where you are starting, the future vision allows you to have goals that need to be achieved. The small business administration says: "The development of a comprehensive business plan shows whether a business has the potential to make a profit or not." By submitting statistics, facts, figures and detailed plans in writing, the new business is more likely to attract investors to secure the required capital for its launch. Business plans can be designed as a sales tool for attracting partners, securing suppliers, and attracting employees in the executive branch of the new venture. Business plans can be divided into executive candidates or desired partners to help them persuade themselves in the business potential and persuade them to join the team. The business plan conveys the organizational structure of the business, including the titles of directors or officers and their individual tasks. It also acts as a management tool that can be regularly referred to to ensure that the business is on track with targets for fulfillment, sales targets or operational milestones. Writing a business health plan involves the preparation of a document listing the services that are planned to be provided and how the company is planned to run. Healthcare businesses usually deal with fees, payment charts, payment systems, managed care contracts, and operational issues. By describing how the company would handle these challenges, it can show potential investors that the business strategy is healthy and worthy of their investment. Write a description of the healthcare business, for example, to list how and what services offer to the older people or disabled customers who do not have medical support at home. If you are planning to buy and work with a franchise, the parent company usually provides information and training that describes the business. Emergency centers usually provide care by an authorized practitioner, on-site laboratory services, recipe services and examinations outside of regular working hours. Describe the skills and experience of staff, such as doctors, laboratory technicians, technicians.

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.

scholarly journals Potential entrepreneurs’ assessment of opportunities through the rendering of a business plan

2014 ◽  
Vol 17 (3) ◽  
pp. 249-265 ◽  
Author(s):  
Melodi Botha ◽  
Claire Leanne Robertson
Keyword(s):  
Business Plan ◽  
Point Of View ◽  
Practical Significance ◽  
Business Plans ◽  
Start Up ◽  
University Of Pretoria ◽  
Potential Entrepreneur ◽  
The University ◽  
And Training ◽  
Viable Business

In the field of entrepreneurship and especially during start up, much emphasis is placed on the business plan with regard to entrepreneurship education and training, funding from external investors, business plan competitions and government development agencies in the Small, Medium and Micro Enterprise (SMME) sector. In many earlier studies of well-known entrepreneurship educators, the formulation of a business plan was identified as being the most important feature of any entrepreneurship programme or course. However, the relevance of a business plan has been a topic of intense and unresolved debates in more recent literature. This paper contributes to the literature with regard to the value a business plan adds to potential entrepreneurs.  Furthermore it increases the understanding of how a detailed business plan (such as the approved business plan template of the University of Pretoria approved business plan) can enable a potential entrepreneur to assess opportunities. The paper conducts a comprehensive analysis of business plans and the methods of assessing opportunities, in order to reveal similarities between the business plan and opportunity assessment. Based on descriptive statistics and inferential statistics such as ANOVA, and Kruskal-Wallis tests, the findings support the hypotheses that potential entrepreneurs distinguish between ideas and opportunities and develop opportunities through the formulation of a detailed business plan. The pertinent academic and practical significance of this paper is that it highlights statistically significant differences proving that a detailed business plan is a tool that enables potential entrepreneurs to assess opportunities. From a practical point of view, this should help potential entrepreneurs to establish more viable business ventures; however, this would have to be statistically tested in further research. Finally, the study re-establishes the importance and purpose of a business plan in the field of entrepreneurship.

Low-Wealth Minority Enterprises and Access to Financial Resources for Start-Up Activities

2012 ◽  
Vol 26 (3) ◽  
pp. 252-266 ◽  
Author(s):  
Colleen Casey
Keyword(s):  
Growth And Development ◽  
Social Resources ◽  
Financial Resources ◽  
Resource Theory ◽  
The Political ◽  
Policy Makers ◽  
Design And Implementation ◽  
Start Up ◽  
Start Ups ◽  
Minority Entrepreneurs

The role new start-ups may play in the economic recovery has been thrust into the political limelight, with a number of policy makers and advocates calling for network interventions to stimulate and foster an environment conducive to their growth and development. However, the design and implementation of these policies may have differential effects for low-wealth minority enterprises. In this article, the author draws on social resource theory to conceptualize the effects of social networks on access to financial resources. The findings suggest that disparities do exist among low-wealth minority enterprises in the amount of social resources they possess as well as in the formal financial resources obtained. Low-wealth minority enterprises that do obtain a higher level of formal financial resources have upward connections to those that possess greater social resources. The research has implications for the design and implementation of policies geared toward low-wealth minority entrepreneurs.

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