Business Plan Competitions in an Academic Setting- A Concept Overview and its Connection to the Venture Creation Process

2011 ◽  
pp. 141-165
Author(s):  
Karl Maack ◽  
◽  
Tobias Thornblad ◽  
Adli Abouzeedan ◽  
Thomas Hedner ◽  
...  
Keyword(s):  
Business Plan ◽  
Venture Creation ◽  
Academic Setting ◽  
Creation Process

scholarly journals Factors Influencing Students’ Venture Creation Process

2014 ◽  
Vol 110 ◽  
pp. 678-688 ◽  
Author(s):  
Urve Venesaar ◽  
Marianne Kallaste ◽  
Merle Küttim
Keyword(s):  
Venture Creation ◽  
Creation Process ◽  
Factors Influencing

scholarly journals An exploration of the Business Plan Competition as a methodology for effective nascent entrepreneurial learning

2018 ◽  
Vol 24 (1) ◽  
pp. 121-146 ◽  
Author(s):  
Kayleigh Watson ◽  
Pauric McGowan ◽  
James A. Cunningham
Keyword(s):  
Learning Outcomes ◽  
Business Plan ◽  
New Venture ◽  
Critical Examination ◽  
New Venture Creation ◽  
Venture Creation ◽  
Nascent Entrepreneurs ◽  
Entrepreneurial Learning ◽  
Content Type ◽  
Nascent Entrepreneur

Purpose Business Plan Competitions (BPCs) are readily prescribed and promoted as a valuable entrepreneurial learning activity on university campuses worldwide. There is an acceptance of their value despite the clear lack of empirical attention on the learning experience of nascent entrepreneurs during and post-participation in university-based BPCs. To address this deficit, the purpose of this paper is to explore how participation in a university-based BPC affords entrepreneurial learning outcomes, through the development of competencies, amongst nascent entrepreneurs. Design/methodology/approach Underpinned by a constructivist paradigm, a longitudinal qualitative methodological approach was adopted. In-depth interviews with nascent entrepreneur participants of a UK university-based BPC were undertaken at the start and end of the competition but also six months after participation. This method enabled access to the participant’s experiences of the competition and appreciation of the meanings they attached to this experience as a source of entrepreneurial learning. Data were analysed according to the wave of data collection and a thematic analytical approach was taken to identify patterns across participant accounts. Findings At the start of the competition, participation was viewed as a valuable experiential learning opportunity in pursuit of the competencies needed, but not yet held, to progress implementation of the nascent venture. At the end of the competition, participants considered their participation experience had afforded the development of pitching, public speaking, networking and business plan production competencies and also self-confidence. Six months post-competition, participants still recognised that competencies had been developed; however, application of these were deemed as being confined to participation in other competitions rather than the routine day-to-day aspects of venture implementation. Developed competencies and learning remained useful given a prevailing view that further competition participation represented an important activity which would enable value to be leveraged in terms of finance, marketing and networking opportunities for new venture creation. Research limitations/implications The findings challenge the common understanding that the BPC represents an effective methodology for highly authentic, relevant and broadly applicable entrepreneurial learning. Moreover the idea that the competencies needed for routine venture implementation and competencies developed through competition are synonymous is challenged. By extension the study suggests competition activities may not be as closely tied to the realities of new venture creation as commonly portrayed or understood and that the learning afforded is situated within a competition context. Competitions could therefore be preventing the opportunities for entrepreneurial learning that they purport they offer. Given the practical importance of competition participation as a resource acquisition activity for nascent entrepreneurs, further critical examination of the competition agenda is necessary as too is additional consideration about the design of such competitions and how such competitions should feature within university policy to support new venture creation. Originality/value This study contributes to the limited literature and studies on BPCs by focussing on its effectiveness as a means of providing entrepreneurial learning for participants. The key contribution taking it from an individual nascent entrepreneur participant perspective is that the competencies afforded through competition participation are more limited in scope and application than traditionally promoted and largely orientated towards future BPC participation. Learning is mainly situated for competition sake only and about participants securing further resources and higher levels of visibility. As the nascent entrepreneurs intended learning outcomes from competition participation are subsequently not realised, the study highlights a gap between the intended and actual outcomes of competition participation.

Much More Than Meets the Eye

2021 ◽  
pp. 61-91
Author(s):  
Alexandra França ◽  
Silja Frankenbach ◽  
Vanda Vereb ◽  
Alexandra Vilares ◽  
António Carrizo Moreira
Keyword(s):  
Personal Characteristics ◽  
Individual Characteristics ◽  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
Nascent Entrepreneurs ◽  
Sociological Perspective ◽  
Nascent Entrepreneurship ◽  
Creation Process ◽  
The Way

Nascent entrepreneurship plays an important role in the study of entrepreneurship. It has been studied from different angles, especially from the psychological and sociological perspective as nascent entrepreneurs have distinctive traits and competencies. Other important foci of research are the investigation of the environment in which nascent entrepreneurs operate, as well as the way both the identification and exploitation of entrepreneurial opportunities have emerged. The main objective of this chapter is to address (1) the main individual characteristics that entrepreneurs have in common; (2) the environmental factors contributing to new venture creation; and (3) the steps in the creation process. The chapter departs from the fundamental process of nascent entrepreneurship, which is centered on opportunity recognition, evaluation, and exploitation, and is complemented by the way how contextual factors and personal characteristics and competencies influence the new venture creation process.

Entrepreneurship in the Internet

2011 ◽  
pp. 1405-1411 ◽  
Author(s):  
Christian Serarols-Tarrés
Keyword(s):  
Information Technologies ◽  
New Ventures ◽  
Distribution Channel ◽  
The Internet ◽  
Venture Creation ◽  
Creation Process ◽  
Theoretical Perspectives ◽  
History Of ◽  
The Creation ◽  
The One

The increasing development of information technologies (IT) has significantly affected both firms and markets. IT is currently changing the world in a more permanent and far-reaching way than any other technology in the history of mankind (Carrier, Raymond, & Eltaief, 2004). A new economy, where knowledge is the most important strategic resource, is forcing firms to review their traditional routines and take advantage of the tools able to create new value. Nowadays, there are two types of firms using this new IT. On the one hand, firms with physical presence (traditional companies) use the Internet as a new distribution channel or alternatively as a logical extension of their traditional business. On the other hand, there are dotcoms, Internet start-ups, or cybertraders (European Commission, 1997), which have been specifically conceived to operate in this new environment. A number of scholars have attempted to explain the creation of new ventures from many different theoretical perspectives (economics, psychology, and population ecology among others) and have also offered frameworks for exploring the characteristics of the creation process (Bhave, 1994; Carter, Gartner, & Reynolds, 1996; Gartner, 1985; Shook, Priem, & McGee, 2003; Veciana, 1988; Vesper, 1990; Webster, 1976). However, despite the growing literature in this area, few studies have explored the process of venture creation in dotcom firms. Cyberentrepreneurship is still in its emergent phase, and there is more to know about the phenomenon and the elements of the venture creation process (Carrier et al., 2004; Jiwa, Lavelle, & Rose, 2004; Martin & Wright, 2005). What are the stages they follow to create their firms? This article attempts to answer this question. First, we analyse the entrepreneurial process of a new firm’s creation. Second, we shed some light on how this process is applied by cyberentrepreneurs in starting their businesses based on an in-depth, multiple case study of eight entrepreneurs in Spain.

ICON stores: managing a new business venture

2016 ◽  
Vol 6 (1) ◽  
pp. 1-20
Author(s):  
Waheed Ali Umrani ◽  
Abdul Khaliq Doudpota ◽  
Umair Ahmed
Keyword(s):  
Learning Outcomes ◽  
Subject Area ◽  
New Venture ◽  
Venture Creation ◽  
Entrepreneurial Success ◽  
Content Type ◽  
Creation Process ◽  
Common Practices ◽  
New Business ◽  
The Common

Subject area Entrepreneurship. Study level/applicability Undergraduate – Entrepreneurship. Case overview The case concerns to an entrepreneur named Aamir Ghouri, a US graduate, who is concerned about managing the growth of his newly established venture named ICON Stores. The case presents the idea of entrepreneurial mindset characteristics and motivation besides which, it also explains the typical venture creation process in Pakistan and the general rubrics used to measure the entrepreneurial success in the economy. Expected learning outcomes The case is designed to help students to understand entrepreneurial mindset, characteristics and motivation; to understand entrepreneurial venture creation process; to learn the common practices regarding the measurement of entrepreneurial success of new venture; and to outline as to how growth of a new venture could be managed profitably. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS 3: Entrepreneurship.

scholarly journals FENOMENA PERNIAGAAN TEROKA BAHARU WANITA: JUSTIFIKASI LITERATUR TERHADAP PROSES PEMBINAAN TEORI KEUSAHAWANAN WANITA

2021 ◽  
Vol 9 (2) ◽  
pp. 60-77
Author(s):  
NURUL AMIRA OMAR ◽  
AHMAD FIRDAUSE MD FADZIL ◽  
ROSFATIHAH CHE MAT
Keyword(s):  
Women Entrepreneurs ◽  
Positive Impact ◽  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
Women Entrepreneurship ◽  
Creation Process ◽  
Library Research ◽  
Building Process ◽  
Conceptual Study

AbstrakFenomena kemunculan perniagaan teroka baharu oleh wanita bukanlah topik baru jika disusuri dari susur galur sorotan kajian lepas. Ramai penyelidik lepas melihat pelbagai perspektif yang berbeza-beza mengikut cabang disiplin masing-masing sepertimana ekonomi, pengurusan, psikologi, sosiologi dan lain-lain lagi. Namun ironinya, perbincangan berkaitan proses pembinaan teori keusahawanan wanita dikatakan masih bersifat pramatang. Kajian konseptual ini telah menggunakan kaedah kajian perpustakaan terhadap 95 artikel terpilih bersangkutan fenomena keusahawanan wanita dalam proses penciptaan teroka baharu yang terdiri daripada beberapa jurnal utama bidang keusahawanan wanita. Hasil kajian literatur ini mendapati, penglibatan usahawan wanita melalui perniagaan teroka baharu terbukti memberi impak positif dari sudut peningkatan peluang pekerjaan serta memperkembangkan inovasi produk baru dalam sesebuah negara. Kesinambungannya, kajian ini bertujuan untuk mendalami berkenaan fenomena keusahawanan wanita terutama berkenaan proses penciptaan teroka baharu memandangkan disiplin ini masih lagi bersifat pramatang terutama dalam proses pembangunan teori. Bersandarkan kepada teori Gartner, 1985, penyelidik memberi huraian yang jelas bagi menerangkan bagaimana keusahawanan wanita yang berlaku boleh dikaitkan dengan empat perspektif berbeza iaitu individu, persekitaran, organisasi yang ditubuhkan dan juga proses keusahawanan yang berlaku. Hasil huraian ini memberi gambaran dan sudut pandang yang khusus kepada usahawan wanita untuk memfokuskan kepada sisi yang memberi impak baik kepada perkembangan perniagaan teroka baru mereka.   AbstractThe discussion about emerging women’s new venture creation is not a new topic when traced back from the past literature. Previous researchers looked at various perspectives according to their respective disciplines, such as economics, management, psychology, sociology etc. Ironically, the discussion related to the women entrepreneurship theory-building process is said to be premature. This conceptual study has used the library research method on 95 selected articles concerning the phenomenon of women entrepreneurship in the new venture creation process consisting of several main women entrepreneurship journals. Based on the result from literature review, the involvement of women entrepreneurs through new venture businesses proved to have a positive impact in terms of employment opportunities and the development of new product innovations in a country. This study investigated the relevance of the women entrepreneurship phenomenon related to the new venture creation process as this discipline is still premature. Based on Gartner's theory, the researchers provide a clear description of how women’s entrepreneurs can be associated with four different perspectives: individuals, environments, organizations established, and entrepreneurial process. The results of this description can provide a specific overview and perspective for women entrepreneurs to focus on the side that has a positive impact on the development of their new venture business.

scholarly journals An Experiential Pattern-Matching Teaching Method: Unpacking the Process of Becoming

2020 ◽  
pp. 251512742091465
Author(s):  
Daniil Pokidko ◽  
Fouad Philippe Saade ◽  
Nadav Shir
Keyword(s):  
Pattern Matching ◽  
Business Model ◽  
Educational Process ◽  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
Matching Method ◽  
Theoretical Understanding ◽  
Creation Process ◽  
Business Model Canvas

The new venture creation process is essentially different from the process of managing an established business. Scholars suggest that many current mainstream teaching methods and tools used in entrepreneurship education (EE) are rooted in classical economic theory and do not fully address the specific nature of new venture creation. They also point at a shortage of native EE methods and tools developed specifically for the early-stage new venture creation process. We respond to this challenge through (a) a careful scrutiny of one of the most popular EE tools—the Business Model Canvas and (b) a novel and native EE Experiential Pattern-Matching method to support and complement the Business Model Canvas (and other similar EE tools). We advance our theoretical understanding of experience-based learning in EE settings by embedding the Experiential Pattern-Matching method into a Dynamic Experiential Process Framework that assists entrepreneurship educators in developing effective curricula and improving individual- and team-based learning throughout the educational process of new venture creation.

The role of familial socio-political forces on new venture creation in family business

2018 ◽  
Vol 25 (4) ◽  
pp. 550-577 ◽  
Author(s):  
Navneet Bhatnagar ◽  
Kavil Ramachandran ◽  
Sougata Ray
Keyword(s):  
Family Business ◽  
Critical Role ◽  
Political Support ◽  
Abductive Reasoning ◽  
New Venture ◽  
Venture Creation ◽  
Term Survival ◽  
Content Type ◽  
Creation Process ◽  
Political Clout

Purpose New venture (NV) creation is critical to the growth and long-term survival of business groups. The purpose of this paper is to investigate the NV creation process in family business (FB) context and examine the influence of familial socio-political considerations and dynamics on venture creation processes. Design/methodology/approach The paper employs a triangulation technique drawing from the extant literature, observations from 25 in-depth interviews of FB leaders and insights from two FB practitioners and abductive reasoning to theorize on the NV creation process and the influence of socio-political considerations and dynamics within family. Findings The results show that there are four distinct stages of the NV creation process in FB context. Familial socio-political considerations and dynamics greatly influence the NV creation process. These considerations and dynamics vary according to the socio-political clout enjoyed by the proposer. Leadership’s predisposition to the proposer and the proposer’s socio-political clout in the family determine whether an NV proposal leads to venture creation. Research limitations/implications The study extends NV creation literature by suggesting that in addition to the economic rationale, socio-political considerations play a critical role in venture creation decisions. Future research can validate the findings with quantitative analysis. Practical implications FB members must garner strong socio-political support for their NV proposal. FB leaders must ensure that their NV proposal evaluation and resource allocation decisions are not unduly influenced by the proposer’s socio-political clout. Originality/value The study views the NV creation process in FB context from the lens of familial forces at play. It identifies four distinct stages of the NV creation process and examines the role played by familial socio-political considerations and dynamics during each stage.

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