24 Jun Are Business Plan Really Needed?
A business plan seems like an essential part of the process of building a company. It serves as the foundation for the entire venture. But, do they truly translate into a successful ventures? William Bygrave (it looks like this is the same person who wrote our textbook) could not find a correlation with the success of a company and whether or not they had a formally written business plan (Henricks, 2008). In formal courses, we place an emphasis on the value of business plans, but the reality is that there is not sufficient evidence of the value they bring to the success of a business.
This study was certainly met with some opposition, especially for those who put enormous value on business plans. Professor William B. Gartner made a discovery on his own concerning the value of business plans. Using a sample of 800 entrepreneurs, Gartner found that having a business plan increases by two and half times the chances for an entrepreneur to actually launch their business (Hernicks, 2008).
Although having a business plan does not necessarily translate into a successful venture, it does significantly increase the possibility of executing a concept.
So, do you still think business plans are needed? Why?
Do you think that quality (completeness of vision) of the plan is an indicator of success?
Reference:
Henricks, J (2008). Do You Really Need a Business Plan? Entrepreneur. Retrieved from: https://www.entrepreneur.com/article/198618
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.