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.
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Reference
Teece, D. J. (2010). Business models, business strategy and innovation. Long Range Planning, 43(2/3), 172–194.
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Mazzarol, T., Reboud, S. (2020). Work Book: Planning, Business Models and Strategy. In: Workbook for Entrepreneurship and Innovation. Springer Texts in Business and Economics. Springer, Singapore. https://doi.org/10.1007/978-981-13-9416-4_7
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DOI: https://doi.org/10.1007/978-981-13-9416-4_7
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Online ISBN: 978-981-13-9416-4
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