Enterprise and Exploration

Simon Bridge and Cecilia Hegarty
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Simon Bridge: University of Ulster
Cecilia Hegarty: PLATO EBR

Chapter 5 in Beyond the Business Plan, 2013, pp 51-63 from Palgrave Macmillan

Abstract: Abstract Despite the apparent universal endorsement of the business plan, its hegemony is now being challenged. Among the reasons for this are a reassertion that small businesses are not small big businesses and an increasing realisation that business plans do not actually help small businesses. Other guides to start-up are available — albeit often only for some types of venture or for parts of the start-up process — and the principles of effectuation have been identified from observations of how successful entrepreneurs actually operate. Further consideration of the nature of start-up ventures suggests that, rather than behaving like small big businesses, they have a lot in common with exploration, for which effectuation is also often appropriate. Therefore the idea of new ventures as a form of exploration is considered further in this section.

Keywords: Social Capital; Small Business; Business Plan; Behavioural Economic; Mass Behaviour (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33287-5_5

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DOI: 10.1057/9781137332875_5

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