Work Book: Planning, Business Models and Strategy

Tim Mazzarol and Sophie Reboud
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Tim Mazzarol: University of Western Australia
Sophie Reboud: Burgundy School of Business

Chapter 7 in Workbook for Entrepreneurship and Innovation, 2020, pp 77-85 from Springer

Abstract: Abstract Planning should not be confused with clarity of vision. This chapter examines the relationship between an entrepreneur’s vision and the need to generate a formal business plan. It suggests that a formal business plan is no guarantee for success and that, while planning is important, too much attention can be paid to business plans at the expense of having a clear vision for the business. The business plan is often viewed as a complex document, but it is really a mechanism for helping the entrepreneur systematically communicate their vision to others – either to raise money, secure contracts or organise the work of employees. Of more strategic importance is the ability to create a clear vision for the future.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-981-13-9416-4_7

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DOI: 10.1007/978-981-13-9416-4_7

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