When studying entrepreneurial action under uncertainty, one key question is whether entrepreneurs may benefit from planning to produce an organised response, and whether having a plan is enough to navigate through a crisis. Research shows that planning processes could have a positive effect on survival and on venture performance – as long as it is not overdone.
To provide insight into how entrepreneurs can take action and respond to the pandemic, Esade associate professor Jan Brinckmann suggests examining three major perspectives: business planning, frugality and social support.
This infographic is based on research findings published by Jan Brinckmann in the Journal of Venturing Insights.
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