Uncovering the value of planning in new venture creation: A process and contingency perspective

Journal of Business Venturing

Volumn 22, Issue 6, 2007, Pages 782-807

  Gruber, Marc ^a  

^a EPFL   (Switzerland)

Author keywords

Business planning; Opportunity exploitation; Planning regimes; Toolkit approach; Venture creation process

Indexed keywords

EID: 34547168909     PISSN: 08839026     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jbusvent.2006.07.001     Document Type: Article

References (90)

1. Ailawadi K.L., Dant R.P., and Grewal D. Perceptual and objective performance measures: An empirical analysis of the difference and its impact. Working Paper (2004), Dartmouth College
2. Allinson C., Chell E., and Hayes J. Intuition and entrepreneurial behavior. European Journal of Work and Organizational Psychology 9 (2000) 31-43
3. Andrews K. The Concept of Corporate Strategy (1971), Dow Jones-Irwin, Homewood, ILL
4. Armstrong J. The value of formal planning for strategic decisions: review of empirical research. Strategic Management Journal 3 (1982) 197-211
5. Armstrong J.S., and Overton T.S. Estimating nonresponse bias in mail surveys. Journal of Marketing Research 24 (1977) 396-402
6. Baron R.A. Cognitive mechanisms in entrepreneurship: why and when entrepreneurs think differently than other people. Journal of Business Venturing 13 (1998) 275-294
7. Bazerman M.H. Judgment in Managerial Decision Making. 5th ed. (2002), Wiley, New York, NY
8. Bhidé A. The Origin and Evolution of New Businesses (2000), Oxford University Press, New York, NY
9. Bird B. Implementing entrepreneurial ideas: the case for intention. Academy of Management Review 13 (1988) 442-453
10. Block Z., and MacMillan I.C. Milestones for successful venture planning. Harvard Business Review 63 (1985) 184-196 (September-October)
11. Boyd B.K. Strategic planning and financial performance: a meta-analytic review. Journal of Management Studies 28 (1991) 353-374
12. Bracker J.S., Keats B.W., and Pearson J.N. Planning and financial performance among small firms in a growth industry. Strategic Management Journal 9 (1988) 591-603
13. Brews P.J., and Hunt M.R. Learning to plan and planning to learn: resolving the planning school/learning school debate. Strategic Management Journal 20 (1999) 889-913
14. Bröder A. Decision making with the "adaptive toolbox": influence of environmental structure, intelligence, and working memory load. Journal of Experimental Psychology 29 (2003) 611-625
15. Brown H.I. Rationality (1988), Routledge, London
16. Brüderl J., Preisendörfer P., and Ziegler R. Der Erfolg neugegründeter Betriebe - Eine empirische Studie zu den Chancen und Risiken von Unternehmensgründungen (1996), Duncker and Humblot, Berlin
17. Bruton G.D., and Rubanik Y. Resources of the firm, Russian high-technology startups, and firm growth. Journal of Business Venturing 17 (2002) 553-576
18. Brush C.G., and VanderWerf P.A. A comparison of methods and sources for obtaining estimates of new venture performance. Journal of Business Venturing 7 (1992) 157-170
19. Busenitz L.W., and Barney J.B. Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision-making. Journal of Business Venturing 12 (1997) 9-30
20. Bygrave W., and Minniti M. A dynamic model of entrepreneurial learning. Entrepreneurship Theory and Practice 21 (2001) 5-16 (Spring)
21. Camillus J. Evaluating the benefits of formal planning systems. Long Range Planning 8 3 (1975) 33-40
22. Carter N., Gartner W., and Reynolds P. Exploring start-up event sequences. Journal of Business Venturing 11 (1996) 151-166
23. Castrogiovanni G.J. Pre-startup planning and the survival of new small businesses: theoretical linkages. Journal of Management 22 (1996) 801-822
24. Chandler G.N., and Hanks S.H. Measuring the performance of emerging businesses: A validation study. Journal of Business Venturing 8 (1993) 391-408
25. Chrisman J.J., McMullan E., and Hall J. The influence of guided preparation on the long-term performance of new ventures. Journal of Business Venturing 20 (2005) 769-791
26. Cohen W.M., and Levinthal D.A. Absorptive capacity: a new perspective on learning and innovation. Administrative Science Quarterly 35 (1990) 128-152
27. Cooper A.C., Folta T.B., and Woo C. Entrepreneurial information search. Journal of Business Venturing 10 (1995) 107-120
28. Coviello N.E., Brodie R.J., and Munro H.J. An investigation of marketing practice by firm size. Journal of Business Venturing 15 (2000) 523-545
29. Cyert R.M., and March J.G. A Behavioral Theory of the Firm (1963), Prentice Hall, Englewood Cliffs, NJ
30. Davidson R., and MacKinnon J.G. Estimation and Inference in Econometrics (1993), Oxford University Press, New York, NY
31. Dean Jr. J.W., and Sharfman M.P. Does decision process matter? A study of strategic decision-making effectiveness. Academy of Management Journal 39 (1996) 368-396
32. Delmar F., and Shane S. Does business planning facilitate the development of new ventures?. Strategic Management Journal 24 (2003) 1165-1185
33. Dess G.G., and Robinson R.B. Measuring organizational performance in the absence of objective measures: the case of the privately-held firm and conglomerate business unit. Strategic Management Journal 5 (1984) 265-273
34. Diamantopoulos A., and Winklhofer H.M. Index construction with formative indicators. Journal of Marketing Research 38 (2001) 269-277
35. Dixon W.J. BMDP Statistical Software (1983), UC Press, Berkeley, CA
36. Eisenhardt K.M. Making fast strategic decisions in high-velocity environments. Academy of Management Journal 32 (1989) 543-576
37. Eisenhardt K.M. Strategy as strategic decision making. Sloan Management Review 40 3 (1999) 65-72
38. Eisenhardt K.M., and Schoonhoven C.B. Organizational growth. Linking founding team, strategy, environment, and growth among U.S. semiconductor ventures, 1978-1988. Administrative Science Quarterly 35 (1990) 504-529
39. EVCA. Employment Contribution of Private Equity and Venture Capital in Europe (2005), EVCA, Zaventem
40. Franke N., Gruber M., Harhoff D., and Henkel J. What you are is what you like - Similarity biases in venture capitalists' evaluations of start-up teams. Journal of Business Venturing 21 (2006) 802-826
41. Fredrickson J.W. The comprehensiveness of strategic decision processes: Extension, observations, future directions. Academy of Management Journal 27 (1984) 445-466
42. Fredrickson J.W., and Mitchell T.R. Strategic decision processes: Comprehensiveness and performance in an industry with unstable environment. Academy of Management Journal 27 (1984) 399-423
43. Frishammar J., and Hörte S.A. Managing external information in manufacturing firms: The impact on innovation performance. Journal of Product Innovation Management 22 (2005) 251-266
44. Frommann H., and Dahmann A. Zur Rolle von Private Equity und Venture Capital in der Wirtschaft (2005), BVK, Berlin
45. Gigerenzer G., and Goldstein D.G. Reasoning the fast and frugal way: models of bounded rationality. Psychological Review 103 (1996) 650-669
46. Gruber M. Research on marketing in emerging firms: key issues and open questions. International Journal of Technology Management 26 (2003) 600-620
47. Gruber M. Marketing in new ventures: theory and empirical evidence. Schmalenbach Business Review 56 (2004) 164-199
48. Hambrick D. Environmental scanning and organizational strategy. Strategic Management Journal 2 (1982) 159-174
49. Hambrick D.C., and Crozier L. Stumblers and stars in the management of rapid growth. Journal of Business Venturing 1 (1985) 31-45
50. Hills G.E., and LaForge R.W. Research at the marketing interface to advance entrepreneurship theory. Entrepreneurship Theory and Practice 17 (1992) 33-59
51. Huber G.P., and Power D.J. Retrospective reports of strategic-level managers: guidelines for increasing their accuracy. Strategic Management Journal 6 (1985) 171-180
52. Hultink E.J., Hart S., Robben H.S.J., and Griffin A. Launch decisions and new product success: an empirical comparison of consumer and industrial products. Journal of Product Innovation Management 17 5 (2000) 5-23
53. Janis I.L., and Mann L. Decision Making: A Psychological Analysis of Conflict, Choice, and Commitment (1977), The Free Press, New York, NY
54. Julien P.-A. New technologies and technological information in small businesses. Journal of Business Venturing 10 (1995) 459-475
55. Kirzner I. Entrepreneurial discovery and the competitive market process: an Austrian approach. Journal of Economic Literature 35 (1997) 60-85 (March)
56. Kleinschmidt E.J., and Cooper R.G. The impact of innovativeness on firm performance. Journal of Product Innovation Management 8 (1991) 240-251
57. Kotler P., and Armstrong G. Principles of Marketing. 11th ed. (2005), Prentice Hall, Englewood Cliffs, NJ
58. Langley A. The roles of formal strategic planning. Long Range Planning 21 3 (1988) 40-50
59. Lechner C., Dowling M., and Welpe I. Firm networks and firm development: the role of the relational mix. Journal of Business Venturing 21 (2006) 514-540
60. Lindblom C.E. The science of muddling through. Public Administration Review 19 (1959) 79-88
61. Little R.J.A. A test of missing completely at random for multivariate data with missing values. Journal of the American Statistical Association 83 (1988) 1198-1202
62. Locke E., and Latham G. A Theory of Goal Setting and Task Performance (1980), Prentice-Hall, Englewood Cliffs, NJ
63. March J.G., and Simon H.A. Organizations (1958), Wiley, New York, NY
64. McGrath R.G., and MacMillan I.C. Discovery-driven planning. Harvard Business Review 73 4 (1995) 44-54
65. Matthews C.H., and Scott S.G. Uncertainty and planning in small and entrepreneurial firms: an empirical assessment. Journal of Small Business Management 33 4 (1995) 34-52
66. Miller D., and Friesen P. Strategy-making and environment: the third link. Strategic Management Journal 4 (1983) 221-235
67. Miller C.C., and Cardinal L.B. Strategic planning and firm performance: a synthesis of more than two decades of research. Academy of Management Journal 37 (1994) 1649-1665
68. Mintzberg H. Patterns in strategy formation. Management Science 9 (1978) 934-948
69. Mintzberg H. The Rise and Fall of Strategic Planning (1994), The Free Press, New York, NY
70. Ottum B.D., and Moore W.L. The role of market information in new product success/failure. Journal of Product Innovation Management 14 (1997) 258-273
71. Papadakis V.M., Lioukas S., and Chambers D. Strategic decision-making processes: the role of management and context. Strategic Management Journal 19 (1998) 115-147
72. Pavia T.M. Product growth strategies in young high-technology firms. Journal of Product Innovation Management 7 (1990) 297-309
73. Peters T.J., and Waterman R.H. In Search of Excellence (1982), Harper and Row, New York, NY
74. Podsakoff P.M., and Organ D.W. Self-reports in organizational research: problems and prospects. Journal of Management 12 (1986) 531-544
75. Reynolds P., and White S. The Entrepreneurial Process: Economic Growth, Men, Women, and Minorities (1998), Quorum Books, Westport, CT
76. Roberts E.B. Entrepreneurs in High Technology (1991), Oxford University Press, New York, NY
77. Schwenk C.R. Cognitive simplification processes in strategic decision making. Strategic Management Journal 5 (1984) 111-128
78. Schwenk C.R., and Shrader C.B. Effects of formal strategic planning on financial performance in small firms: a meta-analysis. Entrepreneurship Theory and Practice 18 (1993) 53-64 (Spring)
79. Shane S., and Delmar F. Planning for the market: business planning before marketing and the continuation of organizing efforts. Journal of Business Venturing 19 (2004) 767-785
80. Shane S., and Venkataraman S. The promise of entrepreneurship as a field of research. Academy of Management Review 24 (2000) 217-226
81. Shuman J., Shaw J., and Sussman G. Strategic planning in smaller rapid growth companies. Long Range Planning 18 6 (1985) 48-53
82. Siegel E.S., Ford B.R., and Bornstein J.M. The E and Y Business Plan Guide (1993), Wiley, New York, NY
83. Simon M., Houghton S.M., and Aquino K. Cognitive biases, risk perception, and venture formation: how individuals decide to start companies. Journal of Business Venturing 15 (1999) 113-134
84. Stinchcombe A.L. Social structure and organizations. In: March J.G. (Ed). Handbook of Organizations (1965), Rand-McNally, Chicago, ILL 153-193
85. Talaulicar T., Grundei J., and Werder A.v. Strategic decision making in start-ups: the effect of top management team organization and processes on speed and comprehensiveness. Journal of Business Venturing 20 (2005) 519-541
86. Thune S.S., and House R.J. Where long-range planning pays off. Business Horizons 13 4 (1970) 81-87
87. Tversky A., and Kahneman D. Judgment under uncertainty. Science 211 (1974) 453-458
88. Venkatraman N. Five steps to a dot-com strategy: how to find your footing on the web. Sloan Management Review 41 3 (2000) 15-28
89. Venkatraman N., and Ramanujam V. Planning system success: a conceptualization and an operational model. Management Science 33 (1987) 687-705
90. Zahra S.A., and Covin J.G. Business strategy, technology policy and firm performance. Strategic Management Journal 14 (1993) 451-478