Sample this: “Business plans have their time and place, though perhaps not in planning a business.” A shocker, but that is the opening line in a chapter on ‘business plans and business models,’ in Effectual Entrepreneurship by Stuart Read, Saras Sarasvathy, Nick Dew, Robert Wiltbank, and Anne-Valérie Ohisson (www.routledge.com).

The authors note that the business plan is one of the most ‘taught’ aspects of entrepreneurship. They elaborate that as a work project it provides a wonderful learning platform. …

Publication:
The Hindu Business Line
Author(s):
D. Murali
Relevant Principles:
Bird-in-Hand (Means)
Affordable Loss
Crazy Quilt (Partnerships)
Lemonade (Leverage Contingencies)
Pilot-in-the-Plane (Control vs. Predict)
External Link:
http://www.google.com/url?sa=X&q=http%3A//www.thehindubusinessline.com/features/…