Malvern International Academy
Innovation &
Entrepreneurship
Individual Assignment BSP 332
Biriya Kandiah - [2020]
2020
University Of Wales
Innovation & Entrepreneurship 2020
Table of Contents
Abstract ........................................................................................................................................................................................... 1
Table of Content ............................................................................................................................................................................. 2
1.0 Introduction- A History of Business Plan .............................................................................................................................. 3
2.0 Definitions of Key Concepts .................................................................................................................................................... 1
3.0 Business Plan in New Ventures ................................................................................................................................................ 4
4.0 Ventures ..................................................................................................................................................................................... 4
4.1 Definitions of Entrepreneurship .............................................................................................................................................. 4
Business Plan of Pizza Hut Inc....................................................................................................................................................... 4
5.0 Industry Overview....................................................................................................................................................... 4
5.1 Executive Summary .................................................................................................................................................... 4
5.2 Mission Statement ....................................................................................................................................................... 4
5.3 Organizational Structure ............................................................................................................................................. 4
5.4 Product and Services ................................................................................................................................................... 4
5.5 Target Market.............................................................................................................................................................. 4
5.6 Competitive Advantage ............................................................................................................................................... 4
5.7 Sales and Marketing Strategy .............................................................................................................4
I.
Sources Of Income ............................................................................................................................................ 4
II.
Sales Forecast .................................................................................................................................................... 4
III.
Publicity and Advertising Strategy .................................................................................................................... 4
IV.
Pricing Strategy ................................................................................................................................................. 4
V.
Payment Option................................................................................................................................................. 4
VI.
Startup Expenditure (budget) ............................................................................................................................ 4
6.0SWOT Analysis .......................................................................................................................................................................... 4
7.0 Environmental Analysis ........................................................................................................................................................... 4
8.0 Conclusion ................................................................................................................................................................................. 4
9.0 References .................................................................................................................................................................................. 4
9.0 Appendix.................................................................................................................................................................................... 4
1
BSP 332
Innovation & Entrepreneurship 2020
1.0 Introduction (A History of Business Plan)
The chronological origin of business plans as we know them today can be traced to the concept
of long term planning (Fayol 1988), After world war, many companies followed as Ford Motor
Company which they use the long term setting up plan (Ewing, 1956). Drucker wrote the first
article on long range planning using an entrepreneurial approach, where he attempted to define
long-range
planning
as
the
organized
process
of
making
entrepreneurial
decisions.(Drucker,1959)Drucker’s framework for business planning gained additional
currency with (Halford,1968), and (Webster & Ellis, 1976).
In the 1980’s several influential texts were written based on the same type of idea, such as
Timmons, 1980, McKenna &Oritt 1981, CrumbleyApostolou& Wiggins 1983, Fry &
Stoner1985, Rich &Gumpert 1985, Shuman Shaw &Sussman 1985, West, 1988, Hisrich&
Peters 1989, and Ames 1989. But these books and articles commonly focused on new or small
firms. Thus, these points enclosed every day operational activities including attempts to
forecast demand, as well as analytical and strategic tools for planning (Robinson, 1979). In
1984 Moot Corp start one of the first business planning competitions in the world, aiming new
organizations (Moot Corp, 2005).The Moot model reached and by 1989 competitions were
conducted at most important universities, including Harvard and others.
It has been observed that there is no lack of publications advising entrepreneurs on the
preparation of business plans (MacMillan&Narasiha, 1987). These texts take mainly two
forms. First, there are books exclusively focused on business plans (West 1988 & Ames 1989,
Burns 1990 & Cohen 1992& Burns 1997& Covello 1998& Barrow, Barrow & Brown, 1998
& Blackwell 1998 & Abrams, 2003). Second, educational books in entrepreneurship are
another large source of texts. (Poon, 1996, Stevenson, et al. 1999, Timmons 1999, Lambing &
Kuehl 2000; Wickham 2001; Kuratko & Hodgetts 2001).
Entrepreneurship courses are now taught at nearly every business college and post-secondary
schools, (Katz, 2003). Course content differ widely, including the use of case material,
simulations, and various “hands-on” approaches and this are one of the most popular
curriculum formats consists of teaching and monitoring the writing of a business plan in class
(Gorman, Hanlon & King, 1997; Vesper & McMullan, 1988). In Germany the first
2
BSP 332
Innovation & Entrepreneurship 2020
competition ‘BPW Nordbayern’ was started in 1996, after an American model. An evaluation
by Tierauf& Voigt (2000) showed that at the time there were 14 business plan competitions in
Germany and additional competitions were expected.
2.0 Definitions of Key Concepts
As these concepts are vital in this study, they are clearly defined and discussed early in the text.
Business plans
Business plans are known as a tool for new organisation management and existing organisation.
Business plans are broadly extend and the economic rationality of writing business plans can be
questioned. According to institutional perspective, such as those dealing with Total Quality
Management (Westphal, Gulati&Shortell, 1997), New Public Management (Erlingsdottir,
1999), and green management (Lounsbury, 2001) describes business plan as a tool and can be
related to other studies investigating management tools
While what bullet points a business plan should contain vary from book to book, there is
consensus on the content of a business plan on a more general level. Bracker& Pearson (1986)
mention eight general themes in a content analysis of the small firm planning literature. These
eight general themes are: Objective setting, environmental analysis, SWOT analysis, strategy
formulation, financial projections, functional budgets, operating performance measures and
corrective procedures..
Ventures
Business venture is opportunity for large business to expand its business. Many businesses will
invested on one or more groups or business with the expectation of the business bringing in a
financial gain for all sponsors In this study the business venture opportunity is analyze to see
whether the business can make survive and what gives the business the advantage to gain the
venture opportunity. Most business ventures are created based on demand of the market or lack
of supply in the market.
3
BSP 332
Innovation & Entrepreneurship 2020
3.0 Business Plan in Ventures
Business plan is define as a document that summarizes the operational and financial objectives of
a business and contains the detailed plans and budgets illustrate how the objectives are to be
understood. A fundamental statement in entrepreneurship and strategic management literature is
the significance of planning to performance (Lumpkin, Shraeder& Hills, 1998). The
entrepreneurship field virtually abounds with normative advice about the virtues of business
plans. Overviews of the research literature on planning and performance show that the
relationship between plans and performance is assumed rather than empirically proven to be
efficient (Schwenk and Shrader, 1993; Castrogiovanni, 1996; Ford, Mathews, Baucus,
2003). Modest calculations show that 10 million companies writing business plans worldwide.
4.0 Definitions of Entrepreneurship
According to Onuoha (2007), Entrepreneurship “is the practice of starting new organizations
or revitalizing mature organizations, mainly new businesses usually in response to recognized
opportunities.” However, Schumpeter (1965) defined “entrepreneurs as individuals who take
advantage of market opportunity through technical and organizational innovation”. For
Frank H. Knight (1921) and Peter Drucker (1970)“entrepreneurship is about taking risk”.
It is also defined by Bolton and Thompson (2000) that an entrepreneur is as “a person who
habitually creates and innovates to build something of recognized value around perceived
opportunities”. On the other hand, Hisrich (1990) defined that an entrepreneur is portray as
“someone who show initiative and creative thinking, is able to put in order social and
economic mechanisms to twistpossessions and circumstances to realistic account, and agree
to risk and failure”.
But it is also argue that the study of entrepreneurship should be expanded to global markets to
look into the circumstances and individuality that give confidence entrepreneurial movement in a
range of nation and regions. It is logical to look forward to that entrepreneurs replicate the
leading values of his or her national culture and national culture has definite effect on
entrepreneurship(Thomas & Mueller, 2000).
4
BSP 332
Innovation & Entrepreneurship 2020
Business Plan of Pizza Hut Inc
5.0 Industry Overview
Every 6 out of 10 consumers visit Pizza Hut every year. In the UK and Ireland, the pizza fast
food franchise industry is one of the fastest growing sectors, with pizza taking its place as a
popular food among consumers. Similar to eating trends in the United States of America, the
United Kingdom and many other countries such as Malaysia.In a recent survey conducted by
BBC World found that 45% of people in the United Kingdom were agreeing that they like the
taste of fast food very much. Pizza Hut market consist of professionals those have less time,
students, single person households, families with high or medium income.
5.1 History of Pizza Hut
The pizza Hut business started with two brothers, (Frank and Dan Carney). They borrowed
money from their mother to establish a pizzeria in Kansas.The first Pizza Hut opened its doors in
1958. The first franchised location opened in 1960 in Topeka, Kansasand today, Pizza Hut has
locations throughout the world serving pizza, pasta and wings. Pizza Hut is owned by Yum!
Brands, parent company of KFC and Taco Bell
5.2Executive Summary
Pizza Hut, Inc. was acquired by Pepsi Co, Inc. in 1977, and was given to Pepsi Co, Inc.’s
smaller company Tricon Global Restaurants(later renamed as Yum! Brands). Yum! Brands
have been reported by Forbes as one of the fifty most innovative companies in the world, which
trickles down into each of its brands. It is therefore the goal of Pizza Hut, Inc. is to become an
innovative company that allows consumers to enjoy the products that are made by Pizza Hut,
Inc. and to allow for a growing consumer basis.
5
BSP 332
Innovation & Entrepreneurship 2020
5.3 Mission Statement
Pizza Hut Inc.’s mission statement is the driving force for the decisions that are made by the
company. The Mission Statement for the company is as follows:
"We take pride in making a perfect pizza and providing courteous and helpful service on
time, all the time. Every customer says, "I'll be back!"
5.4 Organizational Structure
As stated above Pizza Hut Inc. is a brand of Yum! A brand which is owned by Pepsi Co, Inc.
important people in the structure of Pizza Hut Inc. include:
Greg Creed- CEO of Yum! Brands. Creed’s main goal is to expand Yum! Brands’s
I.
three main brands: Pizza Hut Inc., Taco Bell Inc., and KFC Inc.
II.
David Gibbs- CEO of Pizza Hut Inc. Main responsibilities include guiding the
company in order to grow sales, and making sure the company runs smoothly.
III.
Joe Kim- COO of Pizza Hut Inc. Main responsibilities include making sure the
company successfully runs on a day to day basis, and changing elements inside stores in
order to grow sales.
IV.
Enrique Ramirez Mena- CFO of Pizza Hut Inc. Main responsibilities include creating
and balancing of the budget for the company, and making sure the company turns a
profit.
5.6 Target Market
This part comprises the target markets and outlines the customers

Asians
Due to globalization people are coming from different countries. Our major target is to serve
Asian people with that product. Asian people like to eat spicy food and also large numbers of
people are vegetarian or eat Halal food. People are coming from different countries due to
globalization. Offering Halal and vegetarian pizza will be able to get more market.
6
BSP 332
Innovation & Entrepreneurship 2020

Students
Students are the target market of Pizza Hut because they spend a lot of time with friends in
universities, college and schools and approximating to go out regularly

Dual-career families
Dual-career families result in less time at home.They have less time to cook food at home. Also
these people have higher incomes which allowing them to eat out more often.

Single person house holds
The single person house hold is also increasing. Thus, these people are a target market of Pizza
Hut. These people also eat out more often

Medium and higher income Professionals
This group of people is targeted by pizza hut due to having lesser time and high disposable
income thus, these people prefer to have ready to eat food or eat outside
5.7 Competitors
Domino’s pizza, Inc.
Domino’s Pizza, Inc. is an international fast food pizza delivery corporation. Domino’s pizza is
the United Kingdom and Ireland’s leading Pizza Company. Domino’s first store opened in 1985.
Domino’s pizza is the direct competitor of the Pizza Hut. Low prices of pizzas are the real
competitive edge of the Domino’s.
McDonald’s
McDonald’s is the world’s largest chain of fast food restaurants, serving nearly 47 million
customers daily. McDonald’s primarily sells hamburgers, cheeseburgers, chicken products,
French fries, breakfast items, soft drinks, milkshakes and desserts. More recently, it has
begun to offer salads, wraps and fruit.
7
BSP 332
Innovation & Entrepreneurship 2020
KFC
Kentucky Fried Chicken or KFC is a chain of fast food restaurants based in Louisville,
Kentucky.KFC is the subsidiary of Yum Brand. While it’s primary focus is fried chicken but
giving tough time to the Pizza Hut. KFC also offers a line of roasted chicken products, sides
and desserts.
Quick Service Restaurants (QSR) Takeaways
There are thousands of local quick services restaurants are involved in the fast food industry.
These local takeaways are providing pizzas, fried chicken, and salads according to the local
consumer’s taste and on very low prices. These restaurants are the real competitors of the pizza
hut.
McDonald Corporation is the largest group among all top Fast Food corporations. It is having
huge brand value as well as revenue, likewise, the Domino’s Pizza Inc is the lowest earning
group among all, but these all companies are having a universal aim to provide quality food at
lower price to the customers. In order to survive in the global industry a company must come up
with new tactics and innovations to charge ahead of the competitors.
5.8 Sales and Marketing Strategy
Marketing Mix
Based on all the businesses, the mainly vital objective of a business is to add on income and
profits.
Product
One of the reasons of Pizza Hut achievement in all over the world is uncompromising drive in
giving those customers the best in terms of product quality, service, cleanliness and value.
Pizza Hut pizzas are made with fresh dough baked daily and smothered with very own 100%
pure imported Mozzarella cheese. Pizza can be part of a well balanced meal. Ingredients in our
pizza include mixed pickle, mushrooms, mixed peppers, black olives (customers can add any
8
BSP 332
Innovation & Entrepreneurship 2020
other available topping of their choice). Pizza Hut has built a strong brand name that means
quality products and services.
Price
Pizza Hut is profitably using the higher and lower valuing or pricing approach when setting the
retail price of its products. This high and low pricing approach will help to serve more segments
in the market Price skimming strategy is used as Pizza Hut sets high initial prices for its products
to send a signal to customers that its products are quality and the service is excellent.
Place
Currently, using the direct distribution channels. The markets are very large and
geographically dispersed. Thus, direct distribution of Pizza Hut has a large number of buyers.
But a small amount purchased by each.
Home delivery is the first distribution method by pizza Hut. Pizza hut provide the pizza for those
who want to stay at home and eat pizza. Other than that, Online ordering distribution method
are also used. Provides excellent sitting facilities to customers .Customers can go to the nearest
Pizza Hut which they can sit and eat there Pizza Hut
Promotion
Purpose of the promotion is to create responsiveness of the product, which will stimulate demand
and also transform the short term actions of the customers. The promotions methods that can be
used are as stated below.

Advertisement on television

Billboard in the main areas to get our customers

Leaflets distribution in colleges and universities

Door to Door distribution of leaflets

In store promotions and Banner ads

Advertisement in Foot ball or any other sports grounds

E-mails

Advertisement on the Web sites
9
BSP 332
Innovation & Entrepreneurship 2020
People
Pizza Hut provide comfortable and great environment for their employees to work. The
employees also are ease to work with and they adopt to changes. Therefore, arranging training
session for the employees which can improve their skills according to the venture.
Process
Pizza Hut will not compromise on quality and services in its restaurants. The process will remain
up to the mark for new venture as well. They have sufficient space for new product to deal with
this is added on value in venturing. We will provide quality food, efficient services with on time
deliveries. So processes will continue without any problem.
I.
Sources Of Income
Financial Matters
Pizza Hutis financially strong enough to introduce a new product in the market. The
advertisement budget will be 5% of the projected sale. The venture is expected will increase
thesale by 6%, this forecast is based upon pervious products sale by Pizza Hut. No other plant
and equipment expenses will be accrued because the existing plant and machinery can be used
for the production of venture.
II.
Sales Forecast
It is important to state that our sales forecast is based on the data gathered during feasibility
studies, market survey and also some of the assumptions readily available on the field. Below are
the sales projections that we were able to come up with for the first three years of operations;

First Year-:RM150, 000 (assumption)

Second Year-: RM450, 000 (assumption)

Third Year-: RM800, 000 (assumption)
This projection is done based on what is obtainable in the industry and with the assumption that
there will not be any major economic meltdown and the arrival of a competitor in same location.
Please note that the above projection might be lower and at the same time it might be higher.
10
BSP 332
Innovation & Entrepreneurship 2020
III.
Startup Expenditure (budget)
This is the key areas where we will spend our start -up capital,

The Total Fee for Registering the Business

Legal expenses for obtaining licenses and permits as well as the accounting services
(software, machines and other software)

Marketing promotion expenses for the grand opening and as well as flyer printing

Cost for hiring Business Consultant

Insurance (general liability, workers’ compensation and property casualty) Cost for
payment of rent for 12 month

Cost for construction of a standard bakery

Other start-up expenses including stationery and phone and utility deposits

Operational cost for the first 3 months (salaries of employees, payments of bills et al)
6.0 SWOT Analysis
(S)trengths

Strong Brand Name
Brand recognition is major strength for Pizza Hut. Pizza hut has the strong brand name and a
market leader by providing large range of pizzas that strong image of pizza hut will make it easy
to launch new pizza in the market.

Loyal customers
Loyalty of customers is strength of Pizza Hut. The loyal customer will also help the Pizza Hut to
launch new pizza in the market.

Strong financial position
Pizza Hut has excellent international turnover and strong financial position will also help in new
pizza’s financial matters.
11
BSP 332
Innovation & Entrepreneurship 2020

Specialized in pizzas
Pizza Hut is specialist in pizza making and this specialty will create a strong perception in
customers mind for our new pickle pizza.

Subsidiary of Yum! Brands,inc
Yum is the world’s largest restaurant company and Pizza Hut is subsidiary of Yum brand.

Full service restaurants
Pizza Hut provides a full service restaurant and delivery services which some of the pizza Hut’s
competitors are not doing. Because of restaurant facility Pizza Hut can market some other
segments like families that other pizza chains cannot.
(W)eaknesses

High priced
Pizzas at Pizza Hut are high priced. This is the greatest weakness Pizza Hut has in the market as
compared with others.

Higher overhead costs
Pizza Hut has higher overhead costs, due to the restaurant services and extra facilities that other
competitors do not have to deal with.

Fewer outlets:
Pizza Hut has the lesser number of outlets and consumers feel difficulty to find pizza Hut. The
Pizza Hut chains are not spread as compare to the other fast food restaurants.

More focused on western taste:
12
BSP 332
Innovation & Entrepreneurship 2020
Pizza Hut is more focused on western taste and less on others. The new arrival will also helpful
to overcome that weakness.
(O)pportunities

New Pizzas with different sizes and taste
This opportunity is always open for pizza hut to come with new tastes and sizes and served the
better than others. We can generate more revenue with our new innovative pizzas. Pickle pizza
will help us to take full advantage of that opportunity.

Halal pizza
Pizza Hut has the opportunity to provide the Halal pizzas and capture a new segment which will
increase the market share of pizza Hut.

Number of outlets
Pizza Hut has the opportunity to expand the business so Pizza Hut should open more outlets to
increase market share and compete will with others like McDonalds.
(T)hreats

Increased completion
The competitions in fast food industry is increasing day by day, this increased competition
reducing the profit margins in the industry and also cause a great decrease of market share.
1. Low prices by competitors
The prices of the competitors are the major concern for Pizza Hut. The competitors are offering
low prices to the customers and have competitive advantage over Pizza Hut.

Frozen pizzas:

Domino’s pizza, Inc.
13
BSP 332
Innovation & Entrepreneurship 2020

McDonald’s

KFC

Quick Service Restaurants (QSR), Takeaways:
7.0 Environmental Analysis
(P)olitical
Political issues include regulatory and judicial system which may affect the business. As our
target market is in Malaysia and there are no series political problems in that market. Increase
taxes can affect Pizza hut in future but better management will help to overcome that problem.
(E)conomical
Rescission and unemployment may affect. Unemployment level is considered to be high and the
savings of people are also very low. This economic slump will also affect the Pizza Hut because
pizzas at Pizza Hut are expensive.
(S)ocial
Every country has its own social norms, values and religion which can affect Pizza Hut
according to its location. People are from different back grounds with different religion and
values. Especially Asian community which in past was less served by Pizza Hut.
(T)echnological
Due to new technology there are so many different ways of marketing such as internet,
telemarketing text massages to the existing customers as well as potential customers
14
BSP 332
Innovation & Entrepreneurship 2020
8.0 Conclusion
According to analysis conducted and the business plan created based on pizza hut Inc venture
opportunity, it can be said that the fast food trends are changing, customers are demanding high
quality food with excellent services and sitting arrangements. Pizza hut is offering large range of
pizzas with salads, desserts and main others under one roof. Pizza hut also provide restaurant
facilities to the customers. With the help of deep research of the market it is found that the Pizza
hut is losing large market share by ignoring a rapidly growing market of Asian Customers. These
customers are less served by Pizza Hut but now it’s time to fill that gap by venturing with other
business that will help Pizza Hut to get Asian customers attention.
According to the business plan, it can be said that Pizza Hut can do well with venturing as the
company has strong business image and financial ability to run the business.
15
BSP 332
Innovation & Entrepreneurship 2020
9.0 References
Abrams, R. 2003. The Successful Business plan: Secrets and Strategies, Palo Alto: The Planning Shop
Ames, C. B.1989. "How to devise a winning business plan", The Journal of Business Strategy 10: 26-30.
Barrow, C., Barrow, P., Brown, R.1997. The business plan: Workbook, Second Edition, London: Kogan Page
Limited.
Blackwell, E.1998. How to prepare a business plan, London, Kogan Page Limited.
Bracker, J. & Pearson, J.(1996). "Planning and financial performance of small, mature firms". Strategic
Management Journal, 7: 503-522.
Burns, P.1990. "The business plan", in P. Burns and J. Devhurst (eds.) Small Business and Entrepreneurship,
London: MacMillan press ltd. Business Management, 14(1): 46-50.
Castrogiovanni, G. J. 1996. "Pre-startup planning and the survival of new small businesses: Theoretical linkages."
Journal of Management 22(6): 801-822.
Cohen, G. N.1992. The business plan, Aldershot: Gower Publishing.
Covello, J., and Hazelgren, B.1998. Your first business plan, Third Edition, Illinois: Sourcebooks, Inc.
Crumbley, L. D., Apostolou, N. G. and Wiggins, C. E.1983. "Planning for the new S corporation", American
journal of small business 8(1).
Drucker, P.1959. "Long-range planning challenge to management science", Management Science: Journal of the
Institute of Management Sciences (April): 238-249.
Erlingsdóttir, G.1999. Förförandeideer -Kvalitssäkring i hälso- ochsjukvården. Lund, Lundsuniversitet.
Ewing, D. W.1956. "Long range business planning", Harvard business review (July-August): 135-139.
Fayol, H. 1988. (originally published 1916) General and industrial management, London: Pitman.
Ford, M. W., Matthews, C. H. Bacus, M. S. 2003. "To Plan or Not to Plan: Is that really the question?" Frontiers
of Entrepreneurship Research. Proceedings of the 23rd Annual Babson-Kauffman Entrepreneurship Research
Conference, Boston, Massachusetts.
Fry, F. L.1993. Entrepreneurship: a planning approach, St. Paul: West Publishing Company.
Gorman, G. G., Hanlon, D. King, W. 1994. Some Research Perspectives on Entrepreneurial Education, Enterprise
Education and Education for Small Business Management. Atlantic Schools of Busienss Conference, Hallifax.
16
BSP 332
Innovation & Entrepreneurship 2020
Halford, D. R. C.1968. Business planning: A practical guide for management, London: Pan Books ltd.
Hisrich, R. D. and Peters, M. P. 1989. Entrepreneurship: starting, developing, and managing a new enterprise.
Homewood, Irwin.
Hisrich, R. D. and Peters, M. P. 1989. Entrepreneurship: starting, developing, and managing a new enterprise.
Homewood, Irwin.
Katz, J. A. 2003. "The Chronology and Intellectual trajectory of American Entrepreneurship Education." Journal of
Business Venturing 18(2): 283-300.
Kuratko, D. F. and Hodgetts, R. M.2001. Entrepreneurship: a contemporary approach, Orlando: Harcourt.
Lounsbury, M. 2001. "Institutional sources of practice variation: staffing college and university recycling
programs." Administrative Science Quarterly 46: 29-56.
Lumpkin, T. G., Shraeder, R. C. and Hills, G. E.1998. "Does formal business planning enhance the performance
of new ventures?", in P. D. Reynolds (ed) Frontiers of entrepreneurship research, Babson Park: P&R Publications.
MacMillan, I. C. and Narasimha, S. 1987. "Research notes and communications: Characteristics distinguishing
funded from unfunded business plans evaluated by venture capitalists." Strategic Management Journal 8: 570-585.
McKenna, J. F. and Oritt, P. L.1981. "Growth planning for small businesses", American Journal of Small
Business 5(4).
Moot Corp, 2005, http://www.mootcorp.org/about.asp (2005-06-29)
Oakes, L. S. Townley, B. and Cooper, D.J. 1998. "Business planning as pedagogy: Language and control in a
changing institutional field." Administrative Science Quarterly 43: 257-292.
Poon, J. T. F. 1996. "Writing a Business Plan that Communicates". in L. A. Meng and T. W. Liang. (eds.),
Entrepreneurs, Entrepreneurship & Enterprising Culture. Singapore, Superskill Graphics.
Rich, S. R. and Gumpert, D. E.1985. "How to write a winning business plan", Harvard Business Review (3): 3-8.
Robinson, R. B. 1979. "Forecasting and small business: a study of the strategic planning process." Journal of Small
Business Management 17(19-27).
Schumpeter, J. A.1934. The Theory of Economic Development, Cambridge: Harvard University Press.
Schwenk, C. and Schrader, C.1993. "Effects of formalstrategic planning on financial performance in small firms:
A meta-analysis", Entrepreneurship Theory and Practice 3(17): 53-64.
17
BSP 332
Innovation & Entrepreneurship 2020
Shuman, J. C., Sussman, G. and Shaw, J. J.1985. "Business plans and the startup of rapid growth companies", in
J. A. Hornaday (ed) Frontiers of entrepreneurship research.
Thierauf, A. and Voigt, K. I.2000. Businessplan-Wettbewerbe und ihreBedeutingfür die UnternehmensgründungErfahrungenausdem BPW Nord Bayern. Existenzgründung:Rahmenbedinungen und Strategien. G. Buttler, H.
Herrmann, W. Scheffler and K.-I. Voigt. Nürnberg, Physica-Verlag Heidelberg. 176.
Timmons, J. A.1980. "A business plan is more than a financing device", Harvard Business Review, 58(2): 28.
Vesper, K. H. and McMullan, E. W. 1988. "Entrepreneurship: Today courses, tomorrow degrees?"
Entrepreneurship Theory and Practice, 13(1): 7-13
Webster, F. A. and Ellis, J.1976. "The Very First Business Plan", Journal of Small
West, A.1988. A Business Plan, London: Pitman Publishing.
Westphal, J. D., Gulati, R. and Shortell, S. M.1997 "Customization or conformity? An institutional and network
perspective on the content and consequences of TQM adoption", Administrative Science Quarterly, 42: 366-394.
Wickham, P.2001 Strategic entrepreneurship: A decision-making approach to new venture creation and
management, Harlow: Pearson education limited.
18
BSP 332
Innovation & Entrepreneurship 2020
19
BSP 332