Research focused on new venture planning has received much attention in the entrepreneurship literature. However, while this stream of research has enjoyed substantial development, it also faces numerous challenges that must be addressed to ensure future progress. This paper identifies existing challenges in research focused on entrepreneurial planning and offers resolution via the development of a more parsimonious but fuller conceptualization of new venture planning. Focus is placed specifically on the most basic and fundamental planning processes and on the identification of important internal and external factors that influence how entrepreneurs progress through these fundamental planning processes.
AustinJ.StevensonH.Wei-SkillernJ. (2006), ‘Social and commercial entrepreneurship: Same, different, or both?’Entreprenuership Theory and Practice, Vol 30, No 1, pp 1–22.
2.
BakerT.NelsonR.E. (2005), ‘Creating something from nothing: Resource construction through entrepreneurial bricolage’, Administrative Science Quarterly, Vol 50, No 3, pp 329–366.
3.
BarneyJ. (1991), ‘Firm resources and sustained competitive advantage’, Journal of Management, Vol 17, pp 99–120.
4.
BarneyJ. (2001), ‘Is the resource-based “view” a useful perspective for strategic management research? Yes’, Academy of Management Review, Vol 26, pp 41–56.
5.
BaronR.A. (2009), ‘Effectual versus predictive logics in entrepreneurial decision-making: Differences between experts and novices. Does experience in starting new ventures change the way entrepreneurs think? Perhaps, but for now, “Caution” is essential’, Journal of Business Venturing, Vol 24, No 4, pp 310–315.
6.
BarretoL. (2010), ‘Dynamic capabilities: A review of past research and an agenda for the future’, Journal of Management, Vol 36, No 1, pp 256–280.
7.
BhideA. (2000), The Origin and Evolution of New Businesses, Oxford University Press, New York.
8.
BirdB. (1988), ‘Implementing entrepreneurial ideas: The case for intention’, Academy of Management Review, Vol 13, No 3, pp 442–453.
9.
BourgeoisL.EisenhardtK. (1988), ‘Strategic decision processes in high velocity environments: Four cases in the microcomputer industry’, Management Science, Vol 34, No 7, pp 816–835.
10.
BrinckmannJ.GrichnikD.KapsaD. (2010), ‘Should entrepreneurs plan or just storm the castle? A meta analysis on contextual factors impacting the business planning– performance relationship in small firms’, Journal of Business Venturing, Vol 25, pp 24–40.
11.
CastrogiovanniG. (1996), ‘Pre-startup planning and the survival of new small businesses: Theoretical linkages’, Journal of Management, Vol 22, No 6, pp 801–822.
12.
CastrogiovanniG.J. (2002), ‘Organizational task environments: Have they changed fundamentally over time?’Journal of Management, Vol 28, No 2, pp 129–150.
13.
ChandlerG.HanksS. (1998), ‘An examination of the substitutability of founders human capital in emerging business ventures’, Journal of Business Ventures, Vol 13, pp 353–369.
14.
ChandlerG.JansenE. (1992), ‘The founder's self-assessed competence and venture performance’, Journal of Business Venturing, Vol 7, No 3, pp 223–236.
15.
ChildJ. (1981), ‘Development of organizations over time’, in NystromP.StarbuckW., eds, Handbook of Organizational Design, Oxford University Press, New York, pp 28–64.
16.
ChwolkaA.RaithM.G. (2012), ‘The value of business planning before start-up – a decision-theoretical perspective’, Journal of Business Venturing, Vol 27, No 3, pp 385–399.
17.
CovinJ.SlevinD. (2002), ‘The entrepreneurial imperatives of strategic leadership’, in HittM.IrelandR.CampS.SextonD., eds, Strategic Entrepreneurship: Creating a New Mindset, Blackwell Publishers, Oxford, pp 309–327.
18.
DavidssonP.HonigB. (2003), ‘The role of social and human capital among nascent entrepreneurs’, Journal of Business Venturing, Vol 18, No 3, pp 301–331.
19.
DelmarF.ShaneS. (2003), ‘Does business planning facilitate the development of new ventures?’Strategic Management Journal, Vol 24, pp 1165–1185.
20.
DenckerJ.C.GruberM.ShahS.K. (2009), ‘Pre-entry knowledge, learning, and the survival of new firms’, Organization Science, Vol 20, No 3, pp 516–537.
21.
DessG.PickensJ. (1999), Beyond Productivity: How Leading Companies Acheive Superior Performance by Leveraging their Human Capital, AMACOM, New York.
22.
DewN.ReadS.SarasvathyS.D.WiltbankR. (2009), ‘Effectual versus predictive logics in entrepreneurial decision-making: Differences between experts and novices’, Journal of Business Venturing, Vol 24, No 4, pp 287–309.
23.
DierickxI.CoolK. (1989), ‘Asset stock accumulation and sustainability of competitive advantage’, Management Science, Vol 35, No 12, pp 1504–1511.
24.
GruberM. (2007), ‘Uncovering the value of planning in new venture creation: A process and contingency perspective’, Journal of Business Venturing, Vol 22, pp 782–807.
25.
GruberM.MacMillanI.ThompsonJ. (2008), ‘Look before you leap: Market opportunity identification in emerging technology firms’, Management Science, Vol 54, pp 1652–1665.
26.
HaberS.ReichelA. (2007), ‘The cumulative nature of entrepreneurial process’, Journal of Business Venturing, Vol 22, pp 119–145.
27.
HonigB. (2004), ‘Entrepreneurship education: Toward a model of contingency-based business planning’, Academy of Management Learning and Education, Vol 3, No 3, pp 258–273.
28.
HonigB.KarlssonT. (2004), ‘Institutional forces and the written business plan’, Journal of Management, Vol 30, No 1, pp 29–48.
29.
IrelandD.HittM.DavidS. (2003), ‘A model of strategic entrepreneurship: The construct and its dimensions’, Journal of Management, Vol 29, pp 963–989.
30.
KarlssonT.HonigB. (2009), ‘Judging a business by its cover: An institutional perspective on new ventures and the business plan’, Journal of Business Venturing, Vol 24, pp 27–45.
31.
KirschD.GoldfarbB.GeraA. (2009), ‘Form or substance: The role of business plans in venture capital decision making’, Strategic Management Journal, Vol 30, No 5, pp 487–515.
32.
KirtznerI.M. (1973), Competition and Entrepreneurship, University of Chicago Press, Chicago, IL.
33.
LawrenceP.LorschJ. (1967), Organization and Environment, Harvard University Graduate School of Business Administration, Boston, MA.
34.
McCarthyI.P.LawenceT.B.WixtedB.GordonB.R. (2010), ‘A multidimensional conceptualization of environmental velocity’, Academy of Management Review, Vol 35, No 4, pp 604–626.
35.
MillikenF. (1987), ‘Three types of uncertainty about the environment: State, effect, and response uncertainty’, Academy of Management Journal, Vol 10, No 3, pp 133–143.
MintzbergH. (1994), ‘The fall and rise of strategic planning’, Harvard Business Review, January–February, pp 107–114.
38.
MintzbergH.WatersJ.A. (1985), ‘Of strategies, deliberate and emergent’, Strategic Management Journal, Vol 6, No 3, pp 257–272.
39.
MintzbergH.WatersJ. (1982), ‘Tracking strategy in an entrepreneurial firm’, Academy of Management Journal, Vol 25, No 3, pp 465–499.
40.
PfefferJ.SalancikG. (1978), The External Control of Organizations: A Resource Dependence Perspective, Harper and Row, New York.
41.
PriemR.ButlerJ. (2001), ‘Is the resource-based “view” a useful perspective for strategic managment research?’Academy of Management Review, Vol 26, No 1, pp 22–40.
42.
RandolphW.DessG. (1984), ‘The congruence perspective of organization design: A conceptual model and multivariate research approach’, Academy of Management Review, Vol 9, pp 114–127.
43.
ReadS.DewN.SarasvathyS.D.SongM.WiltbankR. (2009), ‘Marketing under uncertainty: The logic of an effectual approach’, Journal of Marketing, Vol 73, No 3, pp 1–18.
44.
SarasvathyS.D. (2001), ‘Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency’, Academy of Management Review, Vol 26, No 2, pp 243–263.
45.
SarasvathyS.D. (2004), ‘Making it happen: Beyond theories of the firm to theories of firm design’, Entrepreneurial Theory and Practice, Vol 28, No 6, pp 519–531.
46.
SarasvathyS.D.DewN.ReadS.WiltbankR. (2008), ‘Designing organizations that design environments: Lessons from entrepreneurial expertise’, Organization Studies, Vol 29, No 3, pp 331–350.
47.
SarasvathyS.DewN.VelamuriS.VenkataramanS. (2005), Handbook of Entrepreneurship Research: An Interdisciplinary Survey and Introduction, Springer, New York.
48.
SextonD.Bowman-UptonN. (1991), Entrepreneurship: Creativity and Growth, Macmillan, New York.
49.
ShaneS.DelmarF. (2004), ‘Planning for the market: Business planning before marketing and the continuation of organizing efforts’, Journal of Business Venturing, Vol 19, No 6, pp 767–785.
50.
ShaneS.VenkataramanS. (2001), ‘Entrepreneurship as a field of research: A response to Zahra and Dess’, Academy of Management Review, Vol 26, No 1, pp 13–16.
51.
ShaneS.VenkataramanS. (2000), ‘The promise of entrepreneurship as a field of research’, Academy of Management Review, Vol 25, No 1, pp 217–226.
VenkataramanS.SarasvathyS.D. (2010), ‘Entrepreneurship as method: Open questions for an entrepreneurial future’, Entrepreneurship Theory and Practice, Vol 35, No 1, pp 113–135.
54.
WernerfeltB. (1984), ‘A resource-based view of the firm’, Strategic Management Journal, Vol 5, pp 171–180.
55.
ZahraS.GedajlovicE.DonaldN.JoelS. (2009), ‘A typology of social entrepreneurs: Motives, search processes and ethical challenges’, Journal of Business Venturing, Vol 24, No 5, pp 519–532.
56.
ZahraS.SapienzaH.DavidssonP. (2006), ‘Entrepreneurship and dynamic capabilities: A review, model, and research agenda’, Journal of Management Studies, Vol 43, No 4, pp 917–955.
