Business Plan as a Project

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This litreature review critiques Rafael Fernandez, Lorenzo Revuelto – Taboada and Virginia Simon-Moyas paper “The business plan as a project: an evaluation of its predictive capability for business success”. The article begins by introducing the key topic “Is a good business plan such a decisive factor” (Fernandez, Revuelto –Taboada, Simon-Moyas, 2012, p.2400) of business survival? The aim of this text is to analyse factors that influence business survival and the position of a business plan as the decisive factor. The authors reached two hypotheses. The first: “There is no positive and relevant correlation between the quality of a firms business plan and its chances of survival” (Fernandez, Revuelto –Taboada, Simon-Moyas, 2012, p.2405) and the second: “The combination of a good plan and an adequate entrepeuneurial profile and the business could become a reliable indicator of new venture survival chances” (Fernandez, Revuelto –Taboada, Simon-Moyas, 2012, p.2406). One thing I would critisice is that the supporting methodolgies were presented in a very technical and complex format. This did not cater for readers of a non technical background, they would struggle to fully understand the research. However overall this text is clear and well structured, the arguments were presented well and backed up by good evidence and research. The article is broken up into the key sections Survival and success factors, Business Plans for project management and Methodology. The first section provides background information giving statistics around the survival chances of a business and some of the key factors that influence this. The authors use this section to introduce two theories; “The liability of newness” (Fernandez, Revuelto –Taboada, Simon-Moyas, 2012, p.2401) and “The liability of adolesence” (Fernandez, Revuelto –Taboada, Simon-Moyas, 2012, p.2401) which contradict each other in terms of when the highest mortality rates for a business occur, early on at the very...
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