Financial planning in business venturing
by Benjamin B. Gansel
International Journal of Entrepreneurship and Innovation Management (IJEIM), Vol. 8, No. 4, 2008

Abstract: The literature provides limited methods that aid entrepreneurs in understanding the financial magnitude of their decisions. Conventional planning approaches are adopted from large-scale international companies. The primary aim is the creation of pro-forma financial statements. The paper proposes a financial planning framework that goes beyond existing approaches. Firstly, it provides a decision aid that can improve the decision making of entrepreneurs by identifying critical decisions/uncertainties and revealing the flow of information. Secondly, the framework enhances learning in a highly uncertain environment. Thirdly, it provides a method to accomplish the sequence of financial planning by quantifying the corporate strategy.

Online publication date: Wed, 31-Dec-2008

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