1996/12/01 by Gary J. Castrogiovanni · 1 citation
Business, Management and Accounting · Economics, Econometrics and Finance · #Entrepreneurship Studies and Influences #Firm Innovation and Growth #Corporate Finance and Governance
paper · doi:10.1177/014920639602200601
openalex publication_date 1996/12/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/23
Although eyidence is equivocal and often contradictory, prospective business founders are generally advised to develop formal plans of their proposed ventures. Consistent with this advice, some scholars have suggested that the high mortality of new small businesses could be reduced through greater pre-startup planning. However, there is an emerging view that the value of planning is context-dependent. This view is elaborated here as it applies to new small businesses. First, ways in which pre-startup planning can facilitate survival are delineated. Then, contextual conditions that can limit these impacts are described. Finally, suggestions are offered which show how this view can be used to guide future research and extend the body of knowledge.