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Does business planning facilitate the development of new ventures?
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Does business planning facilitate the development of new ventures?

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  • Frédéric Delmar
  • Scott Shane

Abstract

Many prior researchers have criticized business planning, arguing that it interferes with the efforts of firm founders to undertake more valuable actions to develop their fledgling enterprises. In this paper, we challenge this negative view of business planning, arguing that business planning is an important precursor to action in new ventures. By helping firm founders to make decisions, to balance resource supply and demand, and to turn abstract goals into concrete operational steps, business planning reduces the likelihood of venture disbanding and accelerates product development and venture organizing activity. Empirically, we examine 223 new ventures initiated in the first 9 months of 1998 by a random sample of Swedish firm founders and provide support for our hypotheses. Copyright © 2003 John Wiley & Sons, Ltd.

Suggested Citation

  • Frédéric Delmar & Scott Shane, 2003. "Does business planning facilitate the development of new ventures?," Strategic Management Journal, Wiley Blackwell, vol. 24(12), pages 1165-1185, December.
    • Handle: RePEc:bla:stratm:v:24:y:2003:i:12:p:1165-1185
    DOI: 10.1002/smj.349
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