Business Planning Process in a New Venture Development : Step-by-Step Approach

by Tontoh, Anthony; Opoku Gyamfi, Yaw

Abstract (Summary)
Problem: The development of new ventures has been an issue of keen interest to the society. This is due to the fact that it enhances the socio-economic development of the society by creating jobs and also filling the gaps in the market. However, it is of interest to note that most people do not follow a business planning process when they are starting up a new venture. This may be due to the fact that they do not have any knowledge in a business planning process at the period of business initiation.Purpose: The aim of this thesis is to give an individual or an organization a clear direction of a business planning process in a new venture development.Method: A qualitative research method with a deductive approach was used to conduct this research. A primary and secondary data was collected from 4 organizations and were used to find out the possible steps of business planning process.Frame of Reference: The theoretical spheres that were utilized in this thesis consisted of business planning process from authors that had a sequential approach to business planning for a new venture development.Conclusion: The authors derived a model for business planning process in a new venture development that can be a recommendation to individuals or organizations starting up a new business because it provides a step by step direction in business planning to stay competitive in the market.
Bibliographical Information:


School:Högskolan i Jönköping

School Location:Sweden

Source Type:Master's Thesis

Keywords:business planning process new venture entrepreneur environment


Date of Publication:11/30/2007

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