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Work Book: Planning, Business Models and Strategy

In: Workbook for Entrepreneurship and Innovation

Author

Listed:
  • Tim Mazzarol

    (University of Western Australia)

  • Sophie Reboud

    (Burgundy School of Business)

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.

Suggested Citation

  • Tim Mazzarol & Sophie Reboud, 2020. "Work Book: Planning, Business Models and Strategy," Springer Texts in Business and Economics, in: Workbook for Entrepreneurship and Innovation, edition 4, chapter 7, pages 77-85, Springer.
    • Handle: RePEc:spr:sptchp:978-981-13-9416-4_7
    DOI: 10.1007/978-981-13-9416-4_7
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