Extensiveness of business planning and firm survival: an examination into the drivers of success and survival for knowledge intensive start-up firms

A number of studies have found that writing a business plan increases the likelihood of firm survival. For instance, Liao and Gartner (2006) found that firms that completed a business plan were nearly three times more likely to launch their business than those that did not. On the contrary, other studies have found no association between writing a business plan and success. For example, Honig and Karlsson (2004) found evidence that entrepreneurs only write business plans because they are required to do so by investors, educators and advisors. While the evidence is mixed on the effectiveness of business planning, previous research has not examined individual elements of business plans. Thus, it is not clear which aspects (e.g., financial projections v. marketing strategy) of business planning are positively (or negatively) related to performance and survival. Our study addresses two main issues concerning the impact of business planning in firm survival: 1) Are surviving firms different in the extent of their business planning? 2) Which topical areas within business planning are more (or less) predictive of firm survival? To seek answers, we reconceptualize business planning along four dimensions: service/product description, marketing strategy, financial projections and organizational planning

The Chronological Development of Coaching and Mentoring:Side by Side Disciplines

Interest in coaching and mentoring has increased over the past decades. However, confusionabout what is meant in practice and in the literature and the lack of sound definitions makes ithard to research the antecedents and outcomes of both concepts. We show that coaching andmentoring share a lot, but they are often treated as separate fields. By developing models thatcombine the concepts of coaching and mentoring, we aim to provide a base for more rigorousresearch. Such a base hopefully encourages researches and practitioners of coaching andmentoring to work together instead of struggling against each other

Development of Market-Driven Business Models in the IT Industry. How Firms Experiment with Their Business Models?

Purpose: The purpose of this research is to explore the role of markets in the development of young entrepreneurial startups business models and their subsequent experimentation with business models. We focus on the demand-side to analyze how the market and (potential) customers can influence decisions to develop or innovate a firm’s business model. Design: Data were gathered from firms through interviews with open-ended questions about the evolution of their business model over time. Data were analyzed using the grounded theory method. Findings: Two themes emerged, one regarding engaging with the market and another concerning experimentation with business models and changes made after reviewing the situation on the market (firm’s responsiveness). Taken together, rm responsiveness and market engagement were used to establish four categories of rm types: passive, active, unfocused, and focused firms. We observe that experimenting with business models is high initially and diminishes over time. Practical Implications: Changing the business model is essential for success and survival. Firms will be able to take advantage of new opportunities and expand their products and services. Other firms may pivot into different market spaces than originally intended but by doing so rapidly decrease the time to market. Originality / Value: Our research fills a gap in the literature by exploring the role of markets in the development of young entrepreneurial IT startups’ business models over time. We propose a framework allowing an analysis of business model innovation in different stages of a firm’s development.