Whom to Ask for Help? Entrepreneurs’ Networking Strategy

Whom to Ask for Help? Entrepreneurs’ Networking Strategy

It is not easy to start a business on your own. Even when you try to keep as much as possible for yourself, you will still need others to help you or provide you with resources such as money, information, ideas, materials, etc. A question that entrepreneurs face then is whom to ask for help? They c ...
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Does Planning or Effectuation Work?

Does Planning or Effectuation Work?

In my previous blog I wrote that business plans are not necessarily used as planning devices. The research that I discussed there is part of a broader stream of research I am involved in on the role of planning and effectuation in entrepreneurship. In this blog and the next blog I will share some fu ...
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A Business Plan is Not a Plan

A Business Plan is Not a Plan

“In preparing for battle, I have always found that plans are useless but planning is indispensable.”Dwight D. Eisenhower (1890-1969)Along the line of Eisenhower’s words, entrepreneurship researchers, teachers and practitioners have a paradoxical attitude towards the role of planning in strateg ...
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Four Questions about Effectuation

Four Questions about Effectuation

Since Saras Sarasvathy's various papers and books on 'effectuation', we know that there is more to entrepreneurship than the goal-driven, business plan based approach to starting a new venture that was propagated before. In short, effectuation means that entrepreneurs try to control their future rat ...
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An Alternative for the Balanced Scorecard: The Performance Prism

An Alternative for the Balanced Scorecard: The Performance Prism

Categories Frameworks
In my previous blog I gave a number of reasons why Kaplan & Norton’s Balanced Scorecard is not as good as its popularity suggests. Also, as mentioned there, better alternatives are available. One of these alternatives, and one that I particularly favor, is the Performance Prism developed by An ...
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Five Reasons to Abandon the Balanced Scorecard

Five Reasons to Abandon the Balanced Scorecard

Categories Frameworks
The balanced scorecard is amongst the most used strategy tools in practice. Especially in the United States its adoption rate has been high – the majority of Fortune 1000 companies have at some point of time implemented it. Its main strength is its departure from financial performance measures alo ...
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What Core Competencies Are Not

What Core Competencies Are Not

As a follow-up on my previous blog on core competencies, I give some further clarification about the notion of core competencies in this blog. I hope this helps to still better understand this important strategy concept. This time I will define core competencies by distinguishing them from well-know ...
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What Are Core Competencies?

What Are Core Competencies?

An important way by which companies can distinguish themselves from others and generate a competitive advantage over their competitors is by developing one or few core competencies.This idea has already been put forward by C.K. Prahalad and Gary Hamel in 1990 in their paper 'The Core Competence of t ...
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Downloadable and Printable Value Model Canvas

Downloadable and Printable Value Model Canvas

On July 13th, I wrote a blog in which I introduced the value model canvas as an alternative to the popular business model canvas. To facilitate working with the value model canvas, I followed Osterwalder's example and turned it into a printable format. You can download the JPEG and PDF versions of t ...
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Four Risks of a Blue Ocean Strategy

Four Risks of a Blue Ocean Strategy

As also remarked in my previous blog on blue ocean strategy, I think Kim & Mauborgne's book on Blue Ocean Strategy forms a valuable addition to the strategy literature, particularly for managers and entrepreneurs who try to develop a unique value-adding strategy. One of the main strength of the ...
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