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In Pursuit of Time: Business Plan Sequencing, Duration and Intraentrainment Effects on New Venture Viability

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  • Christian Hopp
  • Francis J. Greene

Abstract

In this study, we examine three under†explored dimensions of the temporal relationship between formal written business plans and the achievement of new venture viability. First, we theorize and investigate the effects of plan sequencing; arguing that a business plan written early on in new venture development increases the prospects of venture viability. Second, we examine plan duration effects, and argue that there is a curvilinear relationship between spending time on a plan and achieving venture viability. Finally, we investigate plan intraentrainment effects (synchronization with other gestation activities). We theorize that if plans are synchronized with other gestation activities, venture viability is more likely. Using longitudinal data and controlling for truncation and endogeneity issues, we find that it is beneficial to plan early but that this is contingent on how long a founder spent on a plan and whether or not a plan is intraentrained with other gestation activities.

Suggested Citation

  • Christian Hopp & Francis J. Greene, 2018. "In Pursuit of Time: Business Plan Sequencing, Duration and Intraentrainment Effects on New Venture Viability," Journal of Management Studies, Wiley Blackwell, vol. 55(2), pages 320-351, March.
    • Handle: RePEc:bla:jomstd:v:55:y:2018:i:2:p:320-351
    DOI: 10.1111/joms.12251
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    Cited by:

    1. Thorgren, Sara & Williams, Trenton Alma, 2023. "Progress without a venture? Individual benefits of post-disruption entrepreneuring," Journal of Business Venturing, Elsevier, vol. 38(3).
    2. Honig, Benson & Hopp, Christian, 2019. "Learning orientations and learning dynamics: Understanding heterogeneous approaches and comparative success in nascent entrepreneurship," Journal of Business Research, Elsevier, vol. 94(C), pages 28-41.
    3. Stefanie De Bruyckere & Patricia Everaert, 2021. "The Role of the External Accountant in Business Planning for Starters: Perspective of the Self-Determination Theory," Sustainability, MDPI, vol. 13(6), pages 1-24, March.
    4. Thomas, V.J. & Bliemel, Martin & Shippam, Cynthia & Maine, Elicia, 2020. "Endowing university spin-offs pre-formation: Entrepreneurial capabilities for scientist-entrepreneurs," Technovation, Elsevier, vol. 96.
    5. Wouter P. L. van Galen & Bob Walrave & Sharon A. M. Dolmans & A. Georges L. Romme, 2021. "Charging for Collaboration: Exploring the Dynamics of Temporal Fit in Interdependent Constellations for Innovation," Energies, MDPI, vol. 14(17), pages 1-23, August.
    6. Paluch, Stefanie & Antons, David & Brettel, Malte & Hopp, Christian & Salge, Torsten-Oliver & Piller, Frank & Wentzel, Daniel, 2020. "Stage-gate and agile development in the digital age: Promises, perils, and boundary conditions," Journal of Business Research, Elsevier, vol. 110(C), pages 495-501.
    7. Panita Rachapaettayakom & Mongkolchai Wiriyapinit & Nagul Cooharojananone & Suparatana Tanthanongsakkun & Nuttirudee Charoenruk, 2020. "The need for financial knowledge acquisition tools and technology by small business entrepreneurs," Journal of Innovation and Entrepreneurship, Springer, vol. 9(1), pages 1-28, December.
    8. Alyson Meister & Sherry M.B. Thatcher & Jieun Park & Mark Maltarich, 2020. "Toward A Temporal Theory of Faultlines and Subgroup Entrenchment," Journal of Management Studies, Wiley Blackwell, vol. 57(8), pages 1473-1501, December.
    9. Shahid, Pirzada Syed Rizwan, 2023. "Founder's Human Capital and the Entrepreneurial Process Duration," OSF Preprints yf6mg, Center for Open Science.
    10. Susan Müller & Alyssa Lara Kirst & Heiko Bergmann & Barbara Bird, 2023. "Entrepreneurs’ actions and venture success: a structured literature review and suggestions for future research," Small Business Economics, Springer, vol. 60(1), pages 199-226, January.
    11. Michael Frese, 2024. "Learning from African entrepreneurship—on the psychological function of entrepreneurial preparedness," Small Business Economics, Springer, vol. 63(4), pages 1365-1380, December.
    12. Walsh, Christian & Collins, Jamie & Knott, Paul, 2022. "The four types of intuition managers need to know," Business Horizons, Elsevier, vol. 65(5), pages 697-708.
    13. Honig, Benson & Samuelsson, Mikael, 2021. "Business planning by intrapreneurs and entrepreneurs under environmental uncertainty and institutional pressure," Technovation, Elsevier, vol. 99(C).

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