Business Plan Vs Business Model Canvas in Entrepreneurship Trainings: A Comparison of Students’ Perceptions

Türko, Esra Sena

doi:10.5539/ass.v12n10p55

Cited by 30 publications

(17 citation statements)

References 11 publications

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“…This model illustrates and visualizes business ideas that are planned and suitable for innovative startup companies (Alias, Goudz, Jawale, & Noche, 2015). Türko (2016) has conducted research on students' perceptions of entrepreneurial learning that applies the business plan model and BMC. The result, 62% of students stated that it was difficult to prepare on busines plan model because it was more complicated, longer and tedious.…”

Section: Introductionmentioning

confidence: 99%

Impact of Business Models Canvas Learning on Improving Learning Achievement and Entrepreneurial Intention

Hutasuhut

Irwansyah

Rahmadsyah

et al. 2020

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Indonesian university graduates skills in creating job opportunities or entering the workforce are still low. It can be seen from the facts that the undergraduate unemployment rate is still higher than the national unemployment rate. Although entrepreneurship education has been considered as one solution to this problem, the best entrepreneurship education model has not been agreed among researchers. This study examines the application of Business Model Canvas (BMC) on enhancing student achievement and student entrepreneurial intentions and the interaction of entrepreneurial learning achievement levels and the application of BMC on entrepreneurial intentions. The method used in this research is quasi-experiment by assigning two classes of entrepreneurship courses at the Faculty of Economics, Medan State University, one class as an experimental class (BMC) and the other class as the control class. Hypothesis testing was conducted with t-test and ANOVA. The findings showed that the average entrepreneurial learning achievement of the BMC class was 12.52% higher than that of the control class. Entrepreneurial intentions of the BMC class was only 6.15% higher than that of the control class. BMC is proven to be positive and significantly improves learning achievement. The level of learning achievement is proven to be positive and it significantly increases entrepreneurial intentions. However, BMC learning has not been proven to increase entrepreneurial intentions. The results of this study are useful for entrepreneurial instructors to design learning that can increase entrepreneurial intentions.

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Section: Introductionmentioning

confidence: 99%

Impact of Business Models Canvas Learning on Improving Learning Achievement and Entrepreneurial Intention

Hutasuhut

Irwansyah

Rahmadsyah

et al. 2020

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show abstract

“…As can be seen, access to finance (or loan) as a key factor in business development, is linked to the ability to conduct market research and develop a business model. The business plan is the final product of the business modelling activity, which documents the overall business model, including what it seeks to achieve and how (Türko, 2016).…”

Section: Discussion Of Findings Of Influential Factors Of Business Dementioning

confidence: 99%

The influential factors of business development among SMEs in the Food Industry of the GCC Region

Alharbi¹,

Al-Ashaab²

2020

JBRMR

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SMEs are the core engine of most economies around the world. Empowering SMEs with the right tools, especially those tools utilized to formulate business models would help the ventures to thrive more successfully. This study aims to provide such business development support tools to the food sectors SMEs of the GCC. This paper presents the results of an ongoing research, part of which is investigating the factors influencing business development decision making, among SMEs operating in the food industry of the Gulf Cooperation Council (GCC). To that end, the paper conducts an extensive literature review on the topic, which is followed by an industrial field study, and analysis of the data obtained. The field study involved 36 companies within the food industry of the GCC region. The findings from this study show that the SMEs in the food industry in the GCC region will need to have an effective business model in order to successfully run or grow their businesses. The initial result of this research shows that the business model canvas is the most suitable for SMEs in the GCC food sector. Furthermore, from the field study, a total of eleven influential factors have been identified, and these factors influence the approach to the business development process and the eventual success of such business development activities. Finally, from the eleven factors, three themes were established. These themes showed the relationship between the influential factors and the BMC; the themes were the value proposition design, customer segmentation and business planning. In conclusion, it was identified that the major challenge the food SMEs face is that of establishing a product-market fit in the development of their products and services. Product market fit as a challenge in the GCC is associated with the rapid geopolitical and social changes being experienced in the region. Hence, leading to changes in the demand and delivery of food products. Product market fit challenge is also linked to the fundamental weakness of the BMC identified in the study. Therefore, further research is required to see how the BMC can be enhanced, to make it more effective to the specific needs and structure of the GCC market environment. To do this will require to capture and incorporate the knowledge from this study and those from successful food SMEs into a single enhanced BMC.

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“…Develop a business model canvas instead of writing a business plan. (Türko, 2016;Jackson, et al, 2015;Siddiqui, 2021) Spend more time to gather and process information and finalize the business feasibility study. (Barr, et al 2009) Role of Markets and Networks in Crossing the Valley of Death: The markets domain refers to people willing to pay for a product or service (Isenberg, 2011).…”

Section: Entrepreneurial Actionmentioning

confidence: 99%

Crossing the Valley of Death: lessons for young entrepreneurs

Al-Shaikh¹,

Siddiqui²

2021

JESI

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Valley of Death (VoD) is a metaphor often used to describe the situation in which many new startups fail to survive. This paper aims to share the experiences of developing guidelines for young entrepreneurs to successfully cross the Valley of death. The ideal target audience for this paper includes young entrepreneurs eager to launch their startups and preferably attending business incubation or acceleration programs. This research hypothesized to make a conceptual model crossing the Valley of death using the entrepreneurial ecosystem. The entrepreneurship ecosystem consists of six higher-order domains, including enabling government policies and leadership, financial capital, culture, support services, human capital, and markets. From earlier studies, entrepreneurial actions to cross the Valley of death were extracted. Entrepreneurship experts, including business incubation center managers, mentors, entrepreneurship faculty from business schools, validated these entrepreneurial actions. Analyses show four domains replicated in the study, enabling government policies and leadership, financial capital, support services, and markets. Furthermore, culture was partially replicated while the experts did not validate human capital. Finally, it presents entrepreneurial actions used to cross the Valley of death by new startups. These entrepreneurial actions are mapped on the entrepreneurial ecosystem. Findings include an emphasis on the understanding of ten issues including, entrepreneurial ecosystem, government rules, procedures, and incentives (like tax benefits, grants) for similar startups, intellectual property rights for similar projects, the role of leadership in startup performance, financial capital for the startup, risks and decision-making choices, regional entrepreneurial culture, support services for similar startups, markets, customers & competitors, the commercial value of the research project/product. Findings also show how to perform these actions and the appropriate timings of these entrepreneurial actions.

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Business Plan Vs Business Model Canvas in Entrepreneurship Trainings: A Comparison of Students’ Perceptions

Cited by 30 publications

References 11 publications

Impact of Business Models Canvas Learning on Improving Learning Achievement and Entrepreneurial Intention

Impact of Business Models Canvas Learning on Improving Learning Achievement and Entrepreneurial Intention

The influential factors of business development among SMEs in the Food Industry of the GCC Region

Crossing the Valley of Death: lessons for young entrepreneurs

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