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Business Planning and Entrepreneurship by Michael Kraten

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Chapter 3

Justifying the Process Chain With Statistical Evidence

About This Chapter

Chapter 3 continues our exploration of the business model by describing how entrepreneurs should collect and analyze data to support their process chains. They accomplish these tasks by identifying key relationships, defining causal and effect variables, collecting data in quantitative format from a representative sample, and analyzing the information in a statistically valid manner.

At this early stage of the business planning process, the quantitative data are nonfinancial in nature. Nevertheless, the analytical conclusions that are drawn from the data support the financial details that follow throughout the business plan.

Although the conceptual components ...

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