Translating knowledge in new entrepreneurial ventures: the role of business plan development

Abstract

Purpose This paper aims to analyse the role of business plan development as a knowledge translation tool, especially for the creation of start-ups. In a complex knowledge ecosystem populated by multiple diverse and autonomous actors (such as potential entrepreneurs, local companies, local public entities and business consultants) bonded together by a joint search for valuable knowledge, business plan development can work as a powerful enabler for the translation of knowledge. Design/methodology/approach The study uses a qualitative multi-case study approach by examining the results of a public programme devoted to the creation of new entrepreneurial ventures. The authors analysed 418 complete business plans and followed up with all the participants with an interview. In total, 40 cases were investigated more in detail. Findings Results show how business plan development can function as a bridge between academic, theoretical and general knowledge on start-up creation on the one hand and practical contextualised activities of potential entrepreneurs on the other. Practical implications The process of knowledge translation is crucial to ensure that relevant knowledge coming from both the inside (the entrepreneur) and outside (the stakeholders) of the organisation is effectively applied. To facilitate the translation process, key knowledge users should be supported in contextualising and making sense of the research knowledge. Initiatives carried out by local entities and other actors, gathering several stakeholders to develop business plans, can become valuable opportunities to facilitate the translation process for start-up development. Originality/value The paper contributes to knowledge management and knowledge translation literature by demonstrating the role of business plan development as an effective knowledge translation enabler. It also adds to the understanding of innovation management and entrepreneurial education by proving the relevance of the translation of knowledge for the creation of new business ventures.

Development of Entrepreneurship Strategic Planning Model at Al-Fitrah Islamic Boarding School Surabaya

“…The development results in an entrepreneurial strategy plan book at the Al Fithrah Islamic Boarding School Surabaya, which has been used to compile a business plan for business actors in the Al Fithrah Islamic Boarding School Surabaya. The implementation of the preparation of the entrepreneurial strategy plan with outputs in the form of a strategy map and business strategy plan for each business actor (Al-Filali et al, 2023;Dal Mas et al, 2023;Gura et al, 2023;Siokas, 2023;Yulianti et al, 2023), both independent and involved in business activities in each business unit under the Al Khidmat Indonesia Foundation, was carried out during a workshop on preparing an entrepreneurial strategic plan on June 19, 2023, at the Al Fithrah Islamic Boarding School Surabaya.…”

What is the link between entrepreneurial knowledge, business planning and entrepreneurial intentions? An empirical study on Indian Higher Education Institutions

“…(Longva et al, 2020). Despite the pervasiveness of BP in a university context, the theoretical and practical underpinning of BP is poorly understood in literature (Mas et al, 2021;Vuorio et al, 2023).…”