THE INTERRELATIONSHIP BETWEEN BUSINESS PLANNING AND BUSINESS MODELS: A STRATEGIC APPROACH TO SUSTAINABLE GROWTH
Keywords:
Business Planning, Business Models, Strategic Management, Sustainable Growth, Market AdaptabilityAbstract
This paper explores the critical interrelationship between business planning and business models, emphasizing their importance in achieving sustainable growth in contemporary business environments. The study examines the theoretical frameworks underpinning business planning and models, reviews empirical evidence on their impact on business performance, and provides strategic insights into their effective integration. Findings suggest that businesses that align their planning processes with an adaptable business model framework are better positioned to navigate market uncertainties and capitalize on emerging opportunities.
References
- Brinckmann, J., Grichnik, D., & Kapsa, D. (2010). Should entrepreneurs plan or just storm the castle? A meta-analysis on contextual factors impacting the business planning-performance relationship in small firms.
*Journal of Business Venturing, 25*(1), 24-40. - Delmar, F., & Shane, S. (2003).
Does business planning facilitate the development of new ventures? *Strategic Management Journal, 24*(12), 1165-1185. - Morris, M., Schindehutte, M., & Allen, J. (2005).
The entrepreneur’s business model: Toward a unified perspective. *Journal of Business Research, 58*(6), 726-735. - Osterwalder, A., & Pigneur, Y. (2010).
*Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers*. John Wiley & Sons. - Teece, D. J. (2010). Business models, business strategy and innovation. *Long Range Planning, 43*(2-3), 172-194.
