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How to Write a Literature Review | Guide, Examples, & Templates

Published on January 2, 2023 by Shona McCombes . Revised on September 11, 2023.

What is a literature review? A literature review is a survey of scholarly sources on a specific topic. It provides an overview of current knowledge, allowing you to identify relevant theories, methods, and gaps in the existing research that you can later apply to your paper, thesis, or dissertation topic .

There are five key steps to writing a literature review:

  • Search for relevant literature
  • Evaluate sources
  • Identify themes, debates, and gaps
  • Outline the structure
  • Write your literature review

A good literature review doesn’t just summarize sources—it analyzes, synthesizes , and critically evaluates to give a clear picture of the state of knowledge on the subject.

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Table of contents

What is the purpose of a literature review, examples of literature reviews, step 1 – search for relevant literature, step 2 – evaluate and select sources, step 3 – identify themes, debates, and gaps, step 4 – outline your literature review’s structure, step 5 – write your literature review, free lecture slides, other interesting articles, frequently asked questions, introduction.

  • Quick Run-through
  • Step 1 & 2

When you write a thesis , dissertation , or research paper , you will likely have to conduct a literature review to situate your research within existing knowledge. The literature review gives you a chance to:

  • Demonstrate your familiarity with the topic and its scholarly context
  • Develop a theoretical framework and methodology for your research
  • Position your work in relation to other researchers and theorists
  • Show how your research addresses a gap or contributes to a debate
  • Evaluate the current state of research and demonstrate your knowledge of the scholarly debates around your topic.

Writing literature reviews is a particularly important skill if you want to apply for graduate school or pursue a career in research. We’ve written a step-by-step guide that you can follow below.

Literature review guide

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Writing literature reviews can be quite challenging! A good starting point could be to look at some examples, depending on what kind of literature review you’d like to write.

  • Example literature review #1: “Why Do People Migrate? A Review of the Theoretical Literature” ( Theoretical literature review about the development of economic migration theory from the 1950s to today.)
  • Example literature review #2: “Literature review as a research methodology: An overview and guidelines” ( Methodological literature review about interdisciplinary knowledge acquisition and production.)
  • Example literature review #3: “The Use of Technology in English Language Learning: A Literature Review” ( Thematic literature review about the effects of technology on language acquisition.)
  • Example literature review #4: “Learners’ Listening Comprehension Difficulties in English Language Learning: A Literature Review” ( Chronological literature review about how the concept of listening skills has changed over time.)

You can also check out our templates with literature review examples and sample outlines at the links below.

Download Word doc Download Google doc

Before you begin searching for literature, you need a clearly defined topic .

If you are writing the literature review section of a dissertation or research paper, you will search for literature related to your research problem and questions .

Make a list of keywords

Start by creating a list of keywords related to your research question. Include each of the key concepts or variables you’re interested in, and list any synonyms and related terms. You can add to this list as you discover new keywords in the process of your literature search.

  • Social media, Facebook, Instagram, Twitter, Snapchat, TikTok
  • Body image, self-perception, self-esteem, mental health
  • Generation Z, teenagers, adolescents, youth

Search for relevant sources

Use your keywords to begin searching for sources. Some useful databases to search for journals and articles include:

  • Your university’s library catalogue
  • Google Scholar
  • Project Muse (humanities and social sciences)
  • Medline (life sciences and biomedicine)
  • EconLit (economics)
  • Inspec (physics, engineering and computer science)

You can also use boolean operators to help narrow down your search.

Make sure to read the abstract to find out whether an article is relevant to your question. When you find a useful book or article, you can check the bibliography to find other relevant sources.

You likely won’t be able to read absolutely everything that has been written on your topic, so it will be necessary to evaluate which sources are most relevant to your research question.

For each publication, ask yourself:

  • What question or problem is the author addressing?
  • What are the key concepts and how are they defined?
  • What are the key theories, models, and methods?
  • Does the research use established frameworks or take an innovative approach?
  • What are the results and conclusions of the study?
  • How does the publication relate to other literature in the field? Does it confirm, add to, or challenge established knowledge?
  • What are the strengths and weaknesses of the research?

Make sure the sources you use are credible , and make sure you read any landmark studies and major theories in your field of research.

You can use our template to summarize and evaluate sources you’re thinking about using. Click on either button below to download.

Take notes and cite your sources

As you read, you should also begin the writing process. Take notes that you can later incorporate into the text of your literature review.

It is important to keep track of your sources with citations to avoid plagiarism . It can be helpful to make an annotated bibliography , where you compile full citation information and write a paragraph of summary and analysis for each source. This helps you remember what you read and saves time later in the process.

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To begin organizing your literature review’s argument and structure, be sure you understand the connections and relationships between the sources you’ve read. Based on your reading and notes, you can look for:

  • Trends and patterns (in theory, method or results): do certain approaches become more or less popular over time?
  • Themes: what questions or concepts recur across the literature?
  • Debates, conflicts and contradictions: where do sources disagree?
  • Pivotal publications: are there any influential theories or studies that changed the direction of the field?
  • Gaps: what is missing from the literature? Are there weaknesses that need to be addressed?

This step will help you work out the structure of your literature review and (if applicable) show how your own research will contribute to existing knowledge.

  • Most research has focused on young women.
  • There is an increasing interest in the visual aspects of social media.
  • But there is still a lack of robust research on highly visual platforms like Instagram and Snapchat—this is a gap that you could address in your own research.

There are various approaches to organizing the body of a literature review. Depending on the length of your literature review, you can combine several of these strategies (for example, your overall structure might be thematic, but each theme is discussed chronologically).

Chronological

The simplest approach is to trace the development of the topic over time. However, if you choose this strategy, be careful to avoid simply listing and summarizing sources in order.

Try to analyze patterns, turning points and key debates that have shaped the direction of the field. Give your interpretation of how and why certain developments occurred.

If you have found some recurring central themes, you can organize your literature review into subsections that address different aspects of the topic.

For example, if you are reviewing literature about inequalities in migrant health outcomes, key themes might include healthcare policy, language barriers, cultural attitudes, legal status, and economic access.

Methodological

If you draw your sources from different disciplines or fields that use a variety of research methods , you might want to compare the results and conclusions that emerge from different approaches. For example:

  • Look at what results have emerged in qualitative versus quantitative research
  • Discuss how the topic has been approached by empirical versus theoretical scholarship
  • Divide the literature into sociological, historical, and cultural sources

Theoretical

A literature review is often the foundation for a theoretical framework . You can use it to discuss various theories, models, and definitions of key concepts.

You might argue for the relevance of a specific theoretical approach, or combine various theoretical concepts to create a framework for your research.

Like any other academic text , your literature review should have an introduction , a main body, and a conclusion . What you include in each depends on the objective of your literature review.

The introduction should clearly establish the focus and purpose of the literature review.

Depending on the length of your literature review, you might want to divide the body into subsections. You can use a subheading for each theme, time period, or methodological approach.

As you write, you can follow these tips:

  • Summarize and synthesize: give an overview of the main points of each source and combine them into a coherent whole
  • Analyze and interpret: don’t just paraphrase other researchers — add your own interpretations where possible, discussing the significance of findings in relation to the literature as a whole
  • Critically evaluate: mention the strengths and weaknesses of your sources
  • Write in well-structured paragraphs: use transition words and topic sentences to draw connections, comparisons and contrasts

In the conclusion, you should summarize the key findings you have taken from the literature and emphasize their significance.

When you’ve finished writing and revising your literature review, don’t forget to proofread thoroughly before submitting. Not a language expert? Check out Scribbr’s professional proofreading services !

This article has been adapted into lecture slides that you can use to teach your students about writing a literature review.

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If you want to know more about the research process , methodology , research bias , or statistics , make sure to check out some of our other articles with explanations and examples.

  • Sampling methods
  • Simple random sampling
  • Stratified sampling
  • Cluster sampling
  • Likert scales
  • Reproducibility

 Statistics

  • Null hypothesis
  • Statistical power
  • Probability distribution
  • Effect size
  • Poisson distribution

Research bias

  • Optimism bias
  • Cognitive bias
  • Implicit bias
  • Hawthorne effect
  • Anchoring bias
  • Explicit bias

A literature review is a survey of scholarly sources (such as books, journal articles, and theses) related to a specific topic or research question .

It is often written as part of a thesis, dissertation , or research paper , in order to situate your work in relation to existing knowledge.

There are several reasons to conduct a literature review at the beginning of a research project:

  • To familiarize yourself with the current state of knowledge on your topic
  • To ensure that you’re not just repeating what others have already done
  • To identify gaps in knowledge and unresolved problems that your research can address
  • To develop your theoretical framework and methodology
  • To provide an overview of the key findings and debates on the topic

Writing the literature review shows your reader how your work relates to existing research and what new insights it will contribute.

The literature review usually comes near the beginning of your thesis or dissertation . After the introduction , it grounds your research in a scholarly field and leads directly to your theoretical framework or methodology .

A literature review is a survey of credible sources on a topic, often used in dissertations , theses, and research papers . Literature reviews give an overview of knowledge on a subject, helping you identify relevant theories and methods, as well as gaps in existing research. Literature reviews are set up similarly to other  academic texts , with an introduction , a main body, and a conclusion .

An  annotated bibliography is a list of  source references that has a short description (called an annotation ) for each of the sources. It is often assigned as part of the research process for a  paper .  

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What is a literature review

“A literature review is a description of the literature relevant to a particular field or topic. It gives an overview of what has been said, who the key writers are, what are the prevailing theories and hypotheses, what questions are being asked, and what methods and methodologies are appropriate and useful" (Emerald Insight).

A literature review  is not  just a summary of everything you have read on the topic.  It is a critical analysis of the existing research relevant to your topic, and you should show how the literature relates to your topic and identify any gaps in the area of research. Our Learning Hub has lots of useful guidance for carrying out a  Literature Review .

How is it different?

It's on a much larger scale from your research for previous modules.

You may need to devise new ways of searching and managing your results.

Think about:

  • Using RefWorks to manage your references
  • Setting up alerts to retrieve new results for your searches

How to carry out a review

  • Devise a search strategy
  • Search systematically
  • Read critically – i.e. deconstruct the material
  • Put it all back together – reconstruct

1. Devise a search strategy

Think about the sort of research that would help your project.

1. What subject areas does you topic fall into?

2. What possible sources could you use? Think broadly, for example:

  • Company reports
  • Industry profiles
  • Market research
  • Financial reports
  • Newspaper articles
  • Journal articles

3. What don't you want?  What are the limits? For example, geographical restrictions or time periods.

2. Search systematically

  • Plan your search first, thinking about your keywords
  • Use the pages on this LibGuide to identify quality resources
  • Use the tutorials and advice on those pages to improve your searches
  • Use the  Inter Library Loans service  to borrow books or to obtain copies of papers which aren't in the library
  • Speak to the Business Librarians for help with your searches, or to recommend new items for library stock
  • Look at the programme of  Succeed @ Tees workshops , and attend any which are relevant.

3. Read critically - i.e. deconstruct your results

Read critically, argument: .

  • What is the main argument?
  • Is the main argument clear and logical?
  • What is the evidence?
  • Is the evidence valid?
  • Does the evidence support the conclusions?

4. Put it all back together – reconstruct

  • Group your topic areas – develop themes
  • Briefly summarise key findings

- See Phrasebank for suggestions of how to phrase your sentences.

  • Use the academic papers as examples of the style of academic writing as well as for their content
  • Check your referencing

Succeed@Tees Workshops: Writing a Literature Review

The following workshop will help you to develop your skills in writing a literature review :

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Business plan competitions and nascent entrepreneurs: a systematic literature review and research agenda

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  • Published: 28 February 2023
  • Volume 19 , pages 863–895, ( 2023 )

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Business plan competitions (BPCs) are opportunities for nascent entrepreneurs to showcase their business ideas and obtain resources to fund their entrepreneurial future. They are also an important tool for policymakers and higher education institutions to stimulate entrepreneurial activity and support new entrepreneurial ventures from conceptual and financial standpoints. Academic research has kept pace with the rising interest in BPCs over the past decades, especially regarding their implications for entrepreneurial education. Literature on BPCs has grown slowly but steadily over the years, offering important insights that entrepreneurship scholars must collectively evaluate to inform theory and practice. Yet, no attempt has been made to perform a systematic review and synthesis of BPC literature. Therefore, to highlight emerging trends and draw pathways to future research, the authors adopted a systematic approach to synthesize the literature on BPCs. The authors performed a systematic literature review on 58 articles on BPCs. Several themes emerge from the BPC literature, including BPCs investigated as prime opportunities to develop entrepreneurial education, the effects of BPC participation on future entrepreneurial activity, and several attempts to frame an ideal BPC blueprint for future contests. However, several research gaps emerge, especially regarding the lack of theoretical underpinnings in the literature stream and the predominance of exploratory research. This paper provides guidance for practice by presenting a roadmap for future research on BPCs drawing from the sample reviewed. From a theoretical perspective, the study offers several prompts for further research on the topic through a concept map and a structured research agenda.

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Introduction

Business plan competitions (BPCs) give nascent entrepreneurs the chance to present their business ideas to an industry and investment peer group tasked with judging each project and picking the most viable one (Overall et al., 2018 ). Winners are awarded various prizes (McGowan & Cooper, 2008 ). The purpose of BPCs is to stimulate new entrepreneurial activity and support novel entrepreneurial ideas (Kwong et al., 2012 ). In return, BPC organizers emphasize the benefits of participating, such as cash prizes and financing (McGowan & Cooper, 2008 ), visibility and reputational benefits (Parente et al., 2015 ), networking with other aspiring entrepreneurs (Thomas et al., 2014 ), and meeting potential stakeholders, including customers and investors (Passaro et al., 2020 ).

BPCs have been used by new entrepreneurs to kickstart their business ideas (Cant, 2018 ). They have been popular throughout the years, especially during the global recession in the first decade of the 2000s. BPCs have become widely popular across both developed (Licha & Brem, 2018 ) and developing countries (Efobi & Orkoh, 2018 ; McKenzie & Sansone, 2019 ), as poor economic conditions have driven young entrepreneurs toward any opportunity they can find (Cant, 2018 ). Since the origin of BPCs in the USA in the 1980s (Buono, 2000 ), several universities have implemented them in their educational ecosystem to foster practical learning. From there, BPCs have rapidly spread in Europe (Riviezzo et al., 2012 ) and within developing nations in Asia (Wong, 2011 ) and Africa (House-Soremenkun & Falola, 2011 ). Despite contextual peculiarities, the significance of BPCs is equally pertinent for developed and emerging economies (Tipu, 2018 ), as they contribute to shaping a lively local entrepreneurial fabric (Barbini et al., 2021 ).

Opportunities arising from BPC participation come in various forms, including knowledge (Barbini et al., 2021 ), networking, and promotion (Cant, 2016a ); however, finding economic resources to finance entrepreneurial ventures has proven to be the main concern (Kwong et al., 2012 ; McGowan & Cooper, 2008 ). BPCs are attractive to entrepreneurs, as they can be prime opportunities not only to receive feedback on their ideas, but also to get the monetary funds needed to realize them (Mosey et al., 2012 ). In addition, a successful BPC does not merely identify the most intriguing business idea but also supports entrepreneurs during the early stages of their new ventures, whether or not they win the competition (Watson et al., 2015 ).

Several research streams have emerged around the topic of BPCs (Cant, 2018 ). For example, entrepreneurial education has been investigated in several studies (Licha & Brem, 2018 ; Olokundun et al., 2017 ) as a way to effectively provide learning support to nascent entrepreneurs and boost their chances of success. Moreover, university-based BPCs are being explored in terms of their potential as learning experiences and how specific lessons learned during these competitions may affect future entrepreneurial orientations (Overall et al., 2018 ). For example, some argue that promoting sustainable production during BPCs has a tangible impact on the integration of sustainability practices into future business activities (Fichter & Tiemann, 2020 ).

Start-up competitions have gained global prominence since the 1980s (Kraus & Schwarz, 2007 ; Ross & Byrd, 2011 ). Today, they are a popular form of support for nascent entrepreneurs (Dee et al., 2015 ), featuring steady growth in numbers over recent years (Fichter & Tiemann, 2020 ). Consistent with BPCs’ importance, the literature examining them is growing, with an increasing number of empirical studies published each year. However, despite the attention from policymakers and academics, no attempts have been made thus far to review the literature on BPCs systematically. Additionally, there is a need for a structured research agenda that could shed light on currently unexplored topics in entrepreneurship research, such as the role of institutions in emergent entrepreneurial intentions (Audretsch et al., 2022 ; Barbini et al., 2021 ), contextual factors stimulating nascent entrepreneurial intentions (Zhu et al., 2022 ), and the development of richer theory about practical entrepreneurial training (Clingingsmith et al., 2022 ).

To the best of our knowledge, the only previous attempt at synthesizing BPC literature was performed by Tipu ( 2018 ). While their contribution is of absolute importance, its scope was limited to 22 papers published in the early 2000s and late 90 s, thus leaving a consistent portion of recent academic literature unexplored. Consequently, we believe that a systematic review of the BPC literature could be of interest to both practitioners and academics. Building on previous systematic literature reviews (SLRs) from the entrepreneurship field, we aim to provide a detailed analysis of the relevant literature on BPCs. We focus on several key aspects of BPCs that emerged from the analysis, starting with the ways in which they are currently implemented, the benefits they provide to new entrepreneurs, and the role played by BPC promotion in the early stages of the entrepreneurial life cycle (Cant, 2016a ). Our analysis reveals several factors that influence the successful implementation of BPCs as ways to boost the effectiveness of novel entrepreneurial ventures, including entrepreneurial education for individuals who take part in the program (McGowan & Cooper, 2008 ) and entrepreneurs’ personal traits and dispositions (Kwong et al., 2012 ). Therefore, our study is not limited to a synthesis of the existing literature on the topic; rather, it develops a comprehensive framework for both professionals and academic researchers to guide future projects on BPCs. This study is guided by four main research questions (RQs):

RQ1: What is the current research profile of BPC literature?

RQ2: What are the key emerging topics to be found in BPC literature?

RQ3: What research gaps are currently present in the BPC literature and what future research agenda can be set according to said gaps?

RQ4: Can a comprehensive conceptual framework be synthesized from the literature to help academics, practitioners, and other relevant stakeholders?

Drawing on previous SLR research on entrepreneurship (Kraus et al., 2020 ), we synthesized the literature to reach our research goal and answer the questions listed above. RQ1 was addressed by gathering all the available literature that satisfied the inclusion criteria in terms of research scope, relevance, and keywords. The research profile was then obtained by conducting several descriptive observations meant to understand the volume of annual scientific production, the most cited sources, the geographical focus, the theoretical frameworks used by the authors, and the emerging themes across the sample. RQ2 was addressed by reviewing the literature presented in the sample through in-depth content analysis techniques. From the analysis, the following themes emerged across the sample: (1) BPCs as opportunities for entrepreneurial education, (2) the role of BPCs in the promotion and visibility of nascent entrepreneurs, (3) the contexts surrounding BPCs, and (4) methodological choices and research design in BPC publications. Regarding RQ3, we manually reviewed each document to identify relevant research gaps in the BPC literature. This allowed us to suggest several research questions that could serve as a foundation for future studies. Finally, RQ4 was addressed by developing a framework that synthesized the thematic findings of our SLR.

The present SLR can contribute significantly to both theory and practice. Overall, SLRs critically assess and synthesize extant research, developing a comprehensive theoretical framework that can guide scholars and practitioners. In other words, a systematic review highlights the different thematic areas of prior research, delineates the research profile of the existing literature, identifies research gaps, projects possible avenues for future research, and develops a synthesized research framework on the topic (Dhir et al., 2020 ). Thus, from a theoretical perspective, our study should interest a broad range of researchers, as it links back to the ongoing global conversation regarding BPCs. It does so by synthesizing the knowledge on the topic and formulating a structured research agenda that could serve as a reference for researchers to conduct future studies and address issues of topical interest that have yet to receive sufficient attention from authors. The research agenda is built upon extant gaps found in our in-depth analysis of the sample. Similarly, practitioners can use the findings to recognize the drivers and outcomes of BPC programs and shed light on their core characteristics when designing one. Likewise, policymakers should use the present work as a blueprint for BPC planning, as the findings presented in this paper summarize how to set up a BPC effectively.

The article begins by outlining the scope of the research and explaining what types of studies will be included in the SLR in terms of content. We then explain the methodology used to gather the research sample and provide a descriptive overview of the data. Next, we provide a thematic review of the studies featured in the SLR. We identify gaps in the literature and avenues for further research before finally discussing the study’s limitations, as well as its theoretical and practical implications.

Scope of the review

Specifying the scope of the SLR and outlining its conceptual boundaries enhance the search protocol's transparency and academic rigor (Dhir et al., 2020 ). We achieved the above by clearly defining the theoretical background of the phenomenon under investigation, thus establishing the definition of the term BPC and employing it as the conceptual boundary of the review.

The BPC literature is part of a broader stream of competition-based learning in higher education institutions (Connell, 2013 ; Olssen & Peters, 2005 ). The peculiarities of BPCs consist in the presence of rewards for participation (Brentnall et al., 2018 ), the development of core entrepreneurial competencies (Arranz et al., 2017 ; Florin et al., 2007 ), and the overall effectiveness in terms of entrepreneurial survival (Jones & Jones, 2011 ; Russell et al., 2008 ). Previous research has focused on the core elements of BPC programs, such as mentoring, feedback, and networking; the way they affect future entrepreneurial lives (McGowan & Cooper, 2008 ; Watson et al., 2015 ; Watson & McGowan, 2019 ); and the rewards from BPC participation (Russell et al., 2008 ).

From a geographical perspective, the significance of BPCs is equally pertinent for developed and emerging economies (Tipu, 2018 ), albeit nascent entrepreneurs face unique challenges in developing countries, such as the lack of educational support (Hyder & Lussier, 2016 ) and institutional instability (Farashahi & Hafsi, 2009 ). We find the most significant levels of literary production in the USA (Buono, 2000 ), where BPCs originated back in the 1980s, and Europe (Riviezzo et al., 2012 ). BPC programs are also gaining traction in developing countries, especially in Asia (Wong, 2011 ) and Africa (House-Soremenkun & Falola, 2011 ). In China, for instance, BPCs are recognized as a reasonable means to obtain practical entrepreneurial knowledge (Fayolle, 2013 ). Similarly, in Kenya, there is an unprecedented level of interest in BPCs, especially from stakeholders involved in entrepreneurial education (Mboha, 2018 ). Finally, in Australia, Lu et al. ( 2018 ) noted the importance of funding from the federal government, such as the New Colombo Plan or the Endeavour Mobility funding schemes, in terms of support and promotion of BPC programs.

Despite the broad geographical scope of BPC literature, there is still a considerable paucity of research on the impact of BPCs on local entrepreneurship and enterprise development. Additionally, the few published studies feature mixed results. For instance, the study by Russell et al. ( 2008 ) reported a positive impact of the MI50K Entrepreneurship Competition in terms of job creation and overall funding obtained. However, the results of the study by Fayolle and Klandt ( 2006 ) are contradictory, as they note how entrepreneurial training via BPC participation does not always equate to a successful future venture. In this regard, BPC literature echoes decades-old controversial stances in entrepreneurship research, such as the perceived usefulness of business plans (Gumpert, 2003 ; Leadbeater & Oakley, 2001 ).

At this juncture, we also consider it prudent to formulate the definition of BPC that will be used as a conceptual boundary for the present study. While BPCs worldwide share a core definition and essence, they come in various forms (McKenzie, 2017 ). We adopted Passaro et al.'s ( 2017 ) definition of BPC, highlighting three essential structural and procedural features. The first is the presence of an organizing committee overseeing the competition and sponsors willing to invest in the most promising entries (Bell, 2010 ). Second, the participants are required to submit business plans to participate in the competition, and participants often consist of teams, as knowledge sharing across multiple people is deemed a crucial component of entrepreneurial success (Weisz et al., 2010 ). Third, after an initial screening, only participants with the most promising ideas are asked to further develop their business plans in the final stages of the competition (Burton, 2020 ). Thus, with the above conceptual scope in mind, our study includes contributions that have examined BPCs, their core characteristics, their implications for entrepreneurship education, and both the antecedents and consequences of BPC participation. However, we do not include studies investigating entrepreneurship education, universities' incubators, and generic entrepreneurial themes. Such studies have already been discussed at length by previous researchers.

The SLR approach was undertaken in an attempt to present the current literature in a comprehensive and extensive way. SLRs have been widely used in entrepreneurship research, and we use previously published SLRs as a methodological reference to guide our study (Mary George et al., 2016 ; Paek & Lee, 2018 ; Tabares et al., 2021 ). In accordance with previous work (Hu & Hughes, 2020 ), we performed a systematic review of BPC literature divided into two distinct steps. We first extracted the dataset required to perform the study, in what we will refer to as the data extraction phase. We later profiled the sample obtained in terms of descriptive statistics, such as annual scientific production, most cited countries, authors’ networks, and collaborations. Additional analyses were conducted by using the VOSviewer software tool (version 1.6.10., Leiden University, Leiden, the Netherlands) and Microsoft Excel (Dhir et al., 2020 ). The tools make use of bibliographic data to determine the frequencies of the published materials, design relevant charts and graphs, construct and visualize the bibliometric networks, and calculate the citation metrics.

Data extraction

The three central databases utilized for the present study are Web of Science (WoS), Scopus, and Google Scholar, as per the suggestions by Mariani et al. ( 2018 ). The first step in order to conduct the extraction of data was to identify the appropriate set of keywords. Based on the conceptual boundaries of the SLR, we determined an initial set of keywords. The keywords included ‘business plan competitions', ‘business plan contests’, and ‘business creation competitions’. The above keywords were used to perform an initial search on Google Scholar to examine if our keywords were sufficient. The first 50 results were taken into consideration (Dhir et al., 2020 ). We also searched the exact keywords in top journals, such as Entrepreneurship, Theory and Practice ; Strategic Entrepreneurship Journal ; International Entrepreneurship and Management Journal ; and Entrepreneurship Research Journal . Subsequently, we updated the list with keywords from the above sources. We consulted the panel to finalize the set of keywords, which ultimately resulted in the following: business plan competition*, business creation competition*, social business plan competition*, business plan contest*, business creation competition*, pitch competition*, pitch contest*. Data were collected from two databases, Scopus and WoS, which are generally well renowned in previous SLR studies on entrepreneurship (Hu & Hughes, 2020 ). Then, a rigorous set of inclusion and exclusion criteria was established. As for the inclusion criterion, we wanted to include only peer-reviewed works. This decision was made to strengthen the validity of the findings. Consequently, all forms of literature that may not have been subjected to a rigorous review process were excluded. This exclusion criterion thus filtered out conference proceedings, book chapters, editorials, websites, and magazine articles from the sample. The English language was used as an additional inclusion criterion to avoid language bias (Dhir et al., 2020 ). A complete list of the inclusion/exclusion criteria can be found in Table 1 .

Data collection and screening of literature

The search for keywords, abstract, and title was done in selected databases using the search string featured in Table 2 . An initial search in Scopus attained 195 distinct records, including full-length articles, book chapters, conferences proceedings, review articles, and research notes. We filtered out three publications written in languages other than English. Further, after manually reviewing each record, we excluded 36 publications that were not related to BPCs and 29 publications other than peer-reviewed journal articles. This step allowed us to reduce the overall number to 76 unique records. The same research protocol was performed on the WoS database and provided an initial total of 68 records, all of which were published in English. We filtered out 24 records as they were conference proceedings, review articles, book chapters, or meeting abstracts. Subsequently, we merged the two collections and removed any duplicate records we found in the process. As a final step, we performed chain referencing to identify further relevant studies that were not found in the previous steps. We then reviewed each publication title to identify and exclude journals that could be referred to as gray literature. This brought the total number of publications to 58, which we agreed to as the definitive number to be considered for the SLR. While somewhat limited, the final sample size is in line with the standards set for management studies (Hiebl, 2021 ) and previously published SLRs in entrepreneurship research (Paek & Lee, 2018 ; Poggesi et al., 2020 ).

Research profiling

Research profiling allowed us to review the sample in terms of several descriptive statistics meant to give us a comprehensive understanding of the current state of the art of BPC research (Dhir et al., 2020 ). Starting with Fig. 1 , we address the annual scientific production of papers included in the sample. Data suggest how BPC literature has been steady over the past two decades, with a sharp increase in recent years. The year 2018 features a significant spike in publications, with 11 distinct records to consider. These trends are in line with the consistent growth in broader entrepreneurship literature, as policymakers have shown increasing levels of interest in BPCs as effective means to create new jobs, foster innovation, and recover from economic crisis (Barbini et al., 2021 ).

figure 1

Year of publication of the selected studies

Figure 2 shows the distribution of articles throughout the various sources included in the sample. The International Entrepreneurship and Management Journal , International Journal of Entrepreneurial Behavior and Research , Journal of Entrepreneurship Education , and International Journal of Entrepreneurship and Small Business rank at the top.

figure 2

Journals publishing the selected studies

In terms of publishing outlets, the variety of journals publishing relevant research on BPC further highlights the increasing attention scholars have devoted to this domain. Through a closer analysis, we note how leading entrepreneurship journals feature most of research articles on BPCs, thus testifying the intersection between the BPC stream and entrepreneurial education literature.

figure 3

Establishments examined by the selected studies

The examination of the geographic scope of the prior studies is featured in Fig. 3 and it suggests that the majority focused on a single country, with most conducted in the United States. The United Kingdom, China, and Germany also feature a significant number of publications in terms of corresponding authors’ nationality. Other countries include South Africa, Australia, Canada, Italy, Switzerland, Argentina, Brazil, France, Nigeria, and Venezuela. The above results corroborate extant research, as it sees the USA as predominant due to them being where BPC first originated (Buono, 2000 ), thus having a more prosperous and profound history. Consistently with previous research, we also find a solid scientific presence in Europe (Riviezzo et al., 2012 ; Waldmann et al., 2010 ) and China (Fayolle, 2013 ). However, developing countries are lagging, possibly because BPCs have only recently become popular there (House-Soremenkun & Falola, 2011 ).

Figure 4 illustrates the top 10 most cited publications. The three most cited papers were published over a decade ago, thus acting as a theoretical foundation for development of the literature stream. More specifically, the work of Liñán et al. ( 2011 ) on factors affecting entrepreneurial intention levels and education is the most cited. In their work, Liñán et al. ( 2011 ) consider and establish empathy as a necessary precursor to social entrepreneurial intentions. At the time of publication, their findings were exploratory in nature, thus prompting several additional studies to expand upon their results and further develop their conclusions.

figure 4

Most cited global documents

Furthermore, the study by Russell et al. ( 2008 ) on the development of entrepreneurial skills and knowledge by higher education institutions ranks at second place. Russell et al. ( 2008 ) noted that BPCs provide fertile ground for new business start-ups and for encouraging entrepreneurial ideas. Russell et al. ( 2008 ) were among the first to suggest a positive correlation between BPCs and entrepreneurial development, thus becoming a theoretical cornerstone for studies willing to further explore the benefits of BPCs for nascent entrepreneurs (Passaro et al., 2017 ).

The study by Lange et al. ( 2007 ) is the third most cited work. Lange et al. ( 2007 ) supported the hypothesis that new ventures created with a written business plan do not outperform new ventures that did not have a written business plan. Their work is often cited among BPC literature when discussing theoretical assumptions against the effectiveness of business plans and, consequently, BPCs (Watson & McGowan, 2019 ).

Several research methods have been adopted in the sample, both qualitative and quantitative. Figure 5 illustrates the methodological choices found within the sample, distinguished as qualitative, quantitative, mixed, and experimental research designs. The amounts shown in Fig. 5 are in absolute value and equal to n = 33 for qualitative research studies, n = 19 for quantitative research, n = 2 for mixed research, and n = 4 for experimental research. The most common choice in research design is the use of a specific BPC as a single empirical case study (Barbini et al., 2021 ; Efobi & Orkoh, 2018 ; Li et al., 2019 ). For instance, Jiang et al. ( 2018 ) investigated the “Challenge Cup” BPC to subsequently develop a longitudinal analysis on creative interaction networks and team creativity evolution. Similarly, Barbini et al. ( 2021 ) investigated data from a BPC in Rimini through the use of a mixed-method analysis. On the other hand, studies that focus on the educational implications of BPCs tend to use students as respondents, instead of BPC participants (Licha & Brem, 2018 ; Olokundun et al., 2017 ).

figure 5

The research designs used in the selected studies

In terms of methodological choices, qualitative research on BPCs is dominated by semi-structured interviews and surveys (Burton, 2020 ; Watson & McGowan, 2019 ; Watson et al., 2018 ). The above is due to how in-depth, open-ended interviews fit a case study research design, thus explaining their popularity in BPC literature (Watson et al., 2015 ). Additionally, amid qualitative research, we find focus groups (Lu et al., 2018 ), fuzzy-set (Lewellyn & Muller-Kahle, 2016 ), content analysis, and cross-sectional research (Passaro et al., 2017 ). Moreover, quantitative studies include partial least squares models (Fichter & Tiemann, 2020 ; Overall et al., 2018 ), regression analysis, longitudinal studies (Jiang et al., 2018 ; Watson et al., 2018 ), and descriptive empirical research based on surveys. Partial least squares regression models are the most popular choice in regards to quantitative BPC research (Fichter & Tiemann, 2020 ; Overall et al., 2018 ), as they have allowed authors to, among other research, test the impacts of several variables on the entrepreneurial activity of BPC participants (Fichter & Tiemann, 2020 ) and to measure the effectiveness of universities’ promotion of entrepreneurship through events, BPCs, and incubators (Overall et al., 2018 ).

Figure 6 was made with the VOSviewer tool and shows the interactions between the most prolific countries in BPC literature. It showcases the co-citation network between the authors in the sample, sorted by their country of origin. In other words, countries appearing near within the diagram have closer collaboration. The size of each bubble indicates the relevance of each country within the network in terms of overall citations. Several main collaboration groups were found, each highlighted in a distinct color. Consistently with the geographical scope of the sample illustrated in Fig. 3 , the UK and the USA play a predominant role in the collaboration network.

figure 6

The cross-country co-citation network

VOSviewer can also analyze the co-occurrence year between keywords. Through the co-occurrence chronology of keywords, the first co-occurrence time between keywords can be clearly displayed, which helps to understand the research in the field of BPC and how it has evolved over time. The co-occurrence chronology view is shown in Fig. 7 . The color of the line between the keywords in the figure indicates the first co-occurrence time of the two. The thicker the line, the greater the intensity of the two co-occurrences and the greater the number of co-occurrences between the two keywords. We notice how the field initially started around the topic of entrepreneurial education, as highlighted by the purple and blue clusters. Progressively, the focus has shifted towards social media, business development, innovation, and marketing, most likely due to the growing relevance of digital transformation throughout the past decade.

figure 7

The co-occurrence chronology view of keywords

To provide readers with a comprehensive and in-depth overview of the BPC literature, we analyzed and synthesized the sample using qualitative content analysis. This technique allows researchers to identify key emerging themes from a sample and to group the records depending on their similarities (Baregheh et al., 2009 ). Three researchers conducted the content analysis independently to uncover the thematic structure of the sample. Later, we shared our findings and discussed divergent thoughts and interpretations. The discussion was aided by a senior researcher with relevant expertise in entrepreneurship research. After much debate, we agreed to arrange the results according to four themes: (1) BPCs as opportunities for entrepreneurial education, (2) benefits of BPC participation, (3) the ideal BPC blueprint, and (4) methodological choices and research design in BPC publications. This classification allowed for a more structured overview of the sample that also afforded enough space and detail to adequately review each literature stream. The research questions that emerged from each theme are presented in Table 3 , and they could act as the backbone for future studies on the topic.

BPCs and entrepreneurial education

While entrepreneurship education existed prior to the 1960s, it only became more significant in the second half of the 20th century. Entrepreneurship education was also much more popular in the USA than in the rest of the world, due to a much greater variety of courses at both the undergraduate and postgraduate levels (Dana, 1992 ). Greater academic interest in entrepreneurship was sparked at the beginning of the 21st century, however, and it has increased rapidly over the past two decades, in terms of both scientific publications and courses available to nascent entrepreneurs (Liñán et al., 2011 ).

Overall et al. ( 2018 ) emphasize the importance of universities in entrepreneurial education and BPCs. Oftentimes, universities combine traditional lectures with more practical activities, such as BPCs, to provide students with a more practically oriented schedule. Similarly, Licha and Brem ( 2018 ) highlight the tools and services available to nascent entrepreneurs via universities, including incubators, accelerators, and entrepreneurship-specific teaching methods. The findings of Licha and Brem ( 2018 ) also suggest that universities tend to give their own spin to entrepreneurial programs and that different cultures lead to different results for BPC participants and nascent entrepreneurs in general. While differences may emerge across programs based in different countries (Lewellyn & Muller-Kahle, 2016 ; Zhou et al., 2015 ), the core elements of such competitions remain stable (Parente et al., 2015 ).

Entrepreneurial programs have steadily increased in popularity over the past decade, thus prompting a newly found interest in BPCs as core components of said programs (Laud et al., 2015 ). Raveendra et al. ( 2018 ) identified several skills that universities can transfer to BPC participants, such as time management, problem solving, communication skills, and brainstorming. Although the development of these skills is not, strictly speaking, universities’ prerogative, both governments and employers want skilled entrepreneurs in society (Russell et al., 2008 ). Indeed, BPCs are a prime opportunity for novel entrepreneurs to develop entrepreneurial skills thanks to the potential for networking with peers and a practice-focused competitive environment. Such an opportunity appears to be tied to the historical appeal of BPCs, as they have attracted students from a plethora of disciplines and sectors throughout the decades (Russell et al., 2008 ).

When BPCs are approached with positive attitudes and open minds, participants can actively benefit from what they learn during their entrepreneurial journeys (McGowan & Cooper, 2008 ). The results of their learning experiences tend to emerge during their entrepreneurial careers, as entrepreneurial skills are held in high regard by various stakeholders and shareholders alike, including investors and business angels (Olokundun et al., 2017 ). Several empirical case studies strengthen these findings, illustrating the importance of BPCs as learning opportunities and their importance in terms of future entrepreneurial life (Cervilla, 2008 ; Li et al., 2019 ; Mancuso et al., 2010 ). It is worth mentioning that some studies in the sample had contradictory results, as universities are not always able to promote entrepreneurship with satisfactory results (Wegner et al., 2019 ).

However, the conversation around entrepreneurial education is still developing. For example, not much has been said about interdisciplinary personalized training and self-learning activities (Li et al., 2019 ). Cervilla ( 2008 ) echoes the same necessity in terms of creating and nurturing an interconnected environment around universities and spin-offs. A first set of exploratory findings suggests that the intervention of external professionals could benefit the entrepreneurial education of students; however, much remains to be said about which skills are valued the most by nascent entrepreneurs (Raveendra et al., 2018 ), incentives and returns for universities that host BPCs (Parente et al., 2015 ), and BPCs as a means to instill proactive entrepreneurial intentions in students (Olokundun et al., 2017 ).

Additionally, the debate surrounding the role of higher education institutions in entrepreneurial education remains very active. While universities’ support for BPCs has been proven to benefit participants in the past (Saeed et al., 2014 ), the findings of Wegner et al. ( 2019 ) suggest that the actions of universities have little to no impact on students’ entrepreneurial intentions. Contradicting results can also be found in other studies (e.g., Coduras et al., 2016 ; Shahid et al., 2017 ), which suggests that additional research is needed to expand this literature stream further. Authors have stressed the importance of intangible benefits gained from BPCs, as participants view them as valuable learning experiences and hold the competencies gained from them in high regard, albeit not entirely useful in day-to-day routines (Watson et al., 2018 ). Still, on the topic of competence development, studies have highlighted that stressing the importance of specific skills during BPCs can seriously impact future entrepreneurial ventures (Overall et al., 2018 ).

Finally, several points of contention emerge when discussing the educational outcomes of BPCs. The literature suggests that nascent entrepreneurs rely on BPCs to refine their business ideas and get feedback (Grichnik et al., 2014 ; Tata & Niedworok, 2018 ); however, empirical and theoretical contributions to BPCs as learning experiences are limited and unclear (Schwartz et al., 2013 ). To address this issue, Watson et al. ( 2018 ) claim that researchers need to understand how participation in university-based BPCs affects entrepreneurial learning outcomes among nascent entrepreneurs. So far, the results have been contradictory. Fafchamps et al. ( 2014 ) found little to no impact on the growth of such entrepreneurial ventures.

Non-educational benefits of BPC participation

It goes without saying that winning a BPC implies a significant increase in visibility, which could lead to finding new stakeholders who could prove useful to the project (Parente et al., 2015 ). However, gray areas still exist. As Parente et al. ( 2015 ) suggest, the role of media coverage could be further improved by involving experts specialized in business and entrepreneurship, instead of generalist media alone. Competition promoters should also invest considerably more time and resources into social media promotion, as social media platforms have become more and more prominent over the years for both entrepreneurs and their potential market (Cant, 2016b ; Palacios-Marqués et al., 2015 ). This is especially relevant for tech-savvy entrepreneurs who are active on social media platforms and could benefit from social media exposure, but they need institutions to act accordingly in this regard (Botha & Robertson, 2014 ). Cant ( 2016b ) found that participants in BPCs were satisfied with the exposure they received from the event, noting that it was worth the effort. However, the author also stressed the importance of event promoters being savvy with social media promotion, which was not always the case.

More broadly speaking, BPC winners have been shown to possess a greater survival rate in entrepreneurial life due to a number of factors, including financial aid, attractiveness in the eyes of stakeholders, and a positive impact on investors (McKenzie, 2017 ). Additionally, McKenzie ( 2017 ) analyzed the YouWiN! competition and noted its impact on the survival rates of established firms and start-ups. The main effect of the competition was to enable firms to buy more capital, innovate more, and hire more workers, hence making the BPC an effective tool for long-term growth. The above results add to a pre-existing debate that has characterized entrepreneurship research in the past, as authors do not seem to reach a universal consensus on the perceived usefulness of business plans (Gumpert, 2003 ; Leadbeater & Oakley, 2001 ). Still, on the topic of firm survival, the results of the study conducted by Simón-Moya and Revuelto-Taboada ( 2016 ) are especially interesting for policymakers responsible for aid programs aiming to foster entrepreneurship, as they show how the quality of a business plan alone can be a necessary condition but not a sufficient condition to explain firm survival. Hence, there is a need for policymakers and institutions to foster entrepreneurship via institutional aid and programs, BPCs included.

Moreover, Fichter and Tiemann ( 2020 ) found that the promotion of sustainability in competitions leads to the integration of sustainability practices into future entrepreneurial activities. However, they warn that policymakers need to effectively plan the integration of sustainability with the entrepreneurial mindset of BPC participants, as generic sustainability orientations do not automatically lead to the integration of sustainability goals into future business activities (Cornelissen & Werner, 2014 ). This sentiment has been echoed in more recent research (Daub et al., 2020 ). The debate on the importance of BPC participation still features a few areas that have yet to be fully explored and discussed. For example, Tata and Niedworok ( 2018 ) claim that the evaluation of business plans changes throughout the phases the idea undergoes, which leads to a more prominent role of subjective feedback in the very early stages of their development. Much like business plan evaluators, nascent entrepreneurs change the way they value their competencies over time (Watson et al., 2018 ): what appeared most useful during their time spent educating themselves might not coincide with what is deemed most relevant during their actual entrepreneurial life; however, more evidence is required to get a proper understanding of this phenomenon.

The ideal BPC blueprint

Several studies have been conducted to explore the contexts in which BPCs thrive and the traits they need to possess to successfully shape future entrepreneurs. Cant ( 2018 ) was one of the first authors to provide a tentative blueprint for future competitions, which included a call for a more structured approach and better planning via a set of universal traits that a BPC should possess regardless of the country or culture in which it is set. Drawing on Bell ( 2010 ), Cant ( 2018 ) also stresses the importance of a go-to model as a means for inexperienced institutions to organize and manage a BPC properly without the need for previous experience.

Additionally, several common trends have emerged that could help determine a generalized BPC blueprint as accurately as possible. First, it is important to ensure that the BPC is embedded in an entrepreneur-friendly ecosystem in which both nascent entrepreneurs and professionals, such as venture capitalists, business angels, and generic investors, can interact and network with each other in a seamless way (Passaro et al., 2017 ). The formulation and development of a business plan is an extremely important yet delicate step for new entrepreneurs, and being able to effectively assess their opportunities and make use of feedback from established professionals is crucial (Botha & Robertson, 2014 ). This two-way feedback mechanism can be implemented both in the early stages of competitions via workshops and lectures and after the winner is picked so that everyone has the chance to understand their results and improve (Cant, 2018 ).

Cant’s ( 2018 ) blueprint stresses the importance of industry specialists aiding participants with their submissions. This finding is supported by a case study by Moultry ( 2011 ), in which industry professionals effectively participated in lectures, provided panel discussions, and helped conduct a BPC for pharmacy students. The vast majority of students who took part in the experiment claimed that the help of industry professionals significantly increased their understanding of business plans and consequently increased their chances of future entrepreneurial success. Moreover, establishing a collaboration network that ties BPC participants to industry professionals greatly increases the chances of survival for university spin-offs (Cervilla, 2008 ).

Finally, an effective BPC should provide winners and, when possible, participants in general with enough resources to fund the early stages of their entrepreneurial journeys (Feldman & Oden, 2007 ; Kolb, 2006 ). Funding nascent entrepreneurs through BPCs could provide several benefits that significantly increase their chances of survival, while also providing them with new opportunities, such as access to debt and equity capital (Burton, 2020 ). However, nascent entrepreneurs themselves need to be able to convince investors that their business ideas are worthy of their funding and resources, and in that regard, opportunity templates vary among people who occupy different professional roles (Tata & Niedworok, 2018 ). While expressing their concerns about founders speculating on financial rewards in the business-idea phase and proposing their own BPC evaluation framework, Tata and Niedworok ( 2018 ) call for a balanced number of jurors from each professional domain to mitigate unfair rating biases. However, much about BPC blueprints remains to be determined. Cant ( 2018 ) explains that there are no set rules applicable to all competitions and that, given the increase in popularity of BPCs all over the world, evaluating similar competitions in Europe and Asia would be a natural progression for this specific literature stream.

Methodological choices and research design in BPC publications

The BPC literature features several research design choices, with both qualitative and quantitative approaches to data collection. Generally speaking, there is a noticeable predominance of empirical research based on case studies and descriptive analysis of BPC scenarios (Efobi & Orkoh, 2018 ; Li et al., 2019 ), with little emphasis on theoretical underpinnings or theory development. Multiple longitudinal studies were identified in the sample (Mosey et al., 2012 ; Watson et al., 2018 ; Jiang et al., 2018 ). We were not able to find SLRs on the topic of BPCs, other than the one performed by Tipu ( 2018 ).

From a qualitative perspective, there were several case studies from both developed (Licha & Brem, 2018 ) and developing countries (Efobi & Orkoh, 2018 ; McKenzie & Sansone, 2019 ). A few qualitative studies have also taken an experimental approach (Fafchamps & Quinn, 2017 ; Fafchamps & Woodruff, 2017 ), which was made possible by the availability of students and higher education institution facilities at the authors’ disposal. Semi-structured interviews were conducted in a few studies, mostly with exploratory intentions (Burton, 2020 ; Watson & McGowan, 2019 ).

Only one study can be labeled as mixed methods research (Barbini et al., 2021 ), whereas the remaining studies were quantitative. Methodological approaches using partial least squares regression are prevalent in BPC research (Overall et al., 2018 ; Wegner et al., 2019 ; Fichter & Tiemann, 2020 ) in which authors attempted to test the impacts of several variables on the entrepreneurial future of BPC participants. For example, Fichter and Tiemann ( 2020 ) used structural equation modeling to test whether the integration of sustainability goals into BPC programs affects the future business outcomes of nascent entrepreneurs, especially in terms of the inclusion of sustainability topics. Moreover, Wegner et al. ( 2019 ) applied a similar research design to determine whether universities’ role in promoting entrepreneurship contests such as BPCs positively affects students’ entrepreneurial intentions. Finally, Overall et al. ( 2018 ) used the theory of planned behavior (TPB) as a theoretical framework to measure the effectiveness of universities’ promotion of entrepreneurship through events, BPCs, and incubators.

Additionally, the topic of BPCs is multi-theoretical in nature, allowing scholars to use various theoretical underpinnings to investigate their nature. The sample features several theoretical frameworks used by authors, including screening and signaling theory for the analysis of early-stage venture-investor communication (Wales, et al., 2019 ); the Fishbein–Ajzen framework to predict planned behavior based on four components of reasoned action (Overall et al., 2018 ); institutional theory as a means to explain variation in entrepreneurial intention (Lewellyn & Muller-Kahle, 2016 ); and variations of the psychological model of “planned behavior” (Liñán et al., 2011 ). It is worth noting that while theoretical perspectives are plenty, records featured in the sample do not use multiple theoretical lenses in the same study. Finally, we find a few studies synthesize and develop their unique theoretical frameworks based on extant theory and empirical observations (Wen & Chen, 2007 ; McGowan & Cooper, 2008 ), even though a considerable portion of the sample features purely empirical results (McKenzie, 2017 ; Moultry, 2011 ).

Research gaps

Several research gaps were identified in the sample. To give a more thought-out structure to the presentation of these results, we classified the gaps into two categories: gaps related to the data and gaps related to the analysis.

Data-related gaps

A few studies had generalizability problems. The exploratory nature of some case studies presented intrinsic limitations to generalizability, as the findings were sometimes not applicable to different contexts (Cervilla, 2008 ; Li et al., 2019 ). For example, Licha and Brem’s ( 2018 ) study features two universities located in Germany and Denmark. Future research could expand upon their findings by investigating several other universities in different countries to strengthen and confirm their results.

Several studies have employed qualitative research methods using exploratory (Parente et al., 2015 ) or experimental approaches (Efobi & Orkoh, 2018 ; McKenzie, 2017 ). There are inherent weaknesses in such research, as self-reported surveys cannot guarantee unbiased responses (Efobi & Orkoh, 2018 ). Similarly, semi-structured interviews feature the same bias; however, their results can be verified with follow-up quantitative research on a larger scale (Licha & Brem, 2018 ; Watson et al., 2015 , 2018 ).

Some studies were also limited due to their sample sizes. Small-scale studies are valuable for exploratory research, as they allow for an initial step into a novel investigation, but they lack in terms of representativeness (Tornikoski & Puhakka, 2009 ; Watson et al., 2018 ; Barbini et al., 2021 ). For example, Wegner et al. ( 2019 ) warn readers of the intrinsic limitations of small sample sizes and ask for larger-scale surveys that could potentially test and expand the results of their initial exploratory research. Moreover, Watson et al. ( 2018 ) claim that it is important to investigate other types of competitions and not limit the scope of BPC research to university-based competitions. In doing so, future research could yield new insights and even adopt comparative perspectives to determine the differences between the two worlds (Watson et al., 2018 ).

Gaps related to analysis

Several main gaps were identified related to analysis, including a narrow focus of prior research, limited geographic scope, and a lack of theoretical underpinnings. A few studies were conducted with very narrow foci, effectively leaving the door open for future studies to bridge the gaps they highlighted. For example, Barbini et al. ( 2021 ) focused on the educational backgrounds of nascent entrepreneurs without considering the implications of their work experience. This gap could be addressed in some capacity by future research. Furthermore, Wegner et al. ( 2019 ) point out that their research shared the same limitation, as they focused on comparing individual students’ entrepreneurial intentions rather than comparing the same individual’s intentions over time. They suggest that future research could explore the influence of universities and BPCs on students’ entrepreneurial intentions (Liñán et al., 2011 ).

Another issue related to the analysis was the limited geographic scope of the sample. While the BPC literature includes contributions from both developed and developing countries (Olafsen & Cook, 2016 ), contextual empirical evidence from both sides of the spectrum is limited. Cross-cultural analysis from different countries could lead to new findings and a more comprehensive look at the BPC phenomenon, especially in developing countries, as thus far only one study exists.

Finally, another gap identified in the sample was the lack of theoretical underpinnings in many of the studies. Most of the selected manuscripts featured qualitative case studies or empirical survey-based data (Cervilla, 2008 ; Li et al., 2019 ). Although their findings were insightful, the authors themselves note that the exploratory nature of most of the studies reflects the need for more theory-building studies on BPCs or the implementation of behavioral theories to strengthen the hypotheses developed by researchers.

Potential research areas

We identified several research areas that could be explored in the future by entrepreneurship researchers. Our selection was based on a combination of our manual review of the content included in the sample and the need for further research expressed by the authors themselves. The suggestions refer primarily to the replication of exploratory research, the need for further longitudinal research, and the testing of hypotheses and measures developed by the authors, each of which is discussed below.

Replication of exploratory studies

The lack of representativeness in the studies was the most evident and recurrent gap highlighted in the sample. Scholars could start from the preliminary research findings provided by current BPC research and replicate studies in different geographical contexts. Although BPCs share several similarities in the way they function and are managed, differences in their efficacy and the survival rate of winners and participants in general can arise. However, replicability is useful for demystifying not only the entrepreneurial lives of winners, but also BPC designs themselves. For example, the blueprint developed by Cant ( 2018 ) can be replicated and tested in several contexts to validate its effectiveness and to provide novel insights into it. Future research is required to explore this ongoing debate and to find as much information as possible on how to plan the support of professionals from outside of universities accordingly (Burton, 2020 ) and how they affect BPC participants’ attitudes and entrepreneurship intentions (He et al., 2020 ).

Longitudinal studies on BPC participants’ entrepreneurial survival

Multiple authors have called for longitudinal studies designed to follow the lives of BPC participants both prior to and after the contests take place. A few longitudinal studies already exist; however, they have also called for more studies with similar research designs. For example, Watson et al. ( 2018 ) call for longitudinal research to test the notion of competition competency they introduced in their study. Similarly, Jiang et al. ( 2018 ) claim that their longitudinal approach was severely limited by being narrowly focused on a single competition. Therefore, they call for further longitudinal studies to strengthen the validity of their findings.

Collecting longitudinal data seems to be a fitting way to contribute to BPC research, specifically, and to entrepreneurial research, more broadly, as metrics could help researchers understand the development of nascent entrepreneurial ventures over time while highlighting the effects of factors such as entrepreneurial education or institutional support for BPC participants at the beginning of their journeys (Wegner et al., 2019 ). Currently, little research has been conducted on a longitudinal basis; thus, there is still a severe lack of understanding of BPCs’ impacts on the entrepreneurial teams and businesses that emerge from them (McGowan & Cooper, 2008 ).

Utilization of diverse research methods

Scholars could make use of a more diverse set of research methods in future BPC studies to overcome the paucity of theoretical contributions and quantitative research in general. While several exploratory studies serve as a strong starting point for BPC research (Burton, 2020 ; Parente et al., 2015 ), it is important to approach the topic in a more multidisciplinary manner, for instance, by including more mixed-method studies in the future (Barbini et al., 2021 ). This could lead to more comprehensive results and a more holistic understanding of the BPC literature among academics and practitioners (Efobi & Orkoh, 2018 ).

Diverse theoretical perspectives

Little theory is currently available on BPCs (Cant, 2018 ). Although multi-theoretical in nature, BPC literature draws on a limited number of existing theories, such as the quadruple-helix model (Parente et al., 2015 ) and the TPB (Overall et al., 2018 ). While the results from exploratory research are interesting and valuable, most of these studies are not underpinned by theory or theoretical frameworks of any kind. Furthermore, the paucity of theoretical underpinnings in our sample can be used as a prompt for future research. To date, only a few studies have grounded their research in established theories (Lv et al., 2021 ; Overall et al., 2018 ). Future research could try to bridge this gap, especially with behavior-centered theories and frameworks, which could be used to address several research questions in terms of BPCs’ impacts on future entrepreneurial lives and the way nascent entrepreneurs incorporate what they learn during competitions into their everyday professional practice (Watson & McGowan, 2019 ).

Theoretical framework

After reviewing the theoretical underpinnings found within the sample, we find a predominance of the conceptual framework developed by Fishbein and Ajzen ( 1975 ), namely the theory of reasoned action (TRA), which allows for a systematic theoretical orientation on beliefs and attitudes to perform a certain behavior. By using the TRA as a base reference, we synthesized extant theoretical research found in the BPC literature. We listed several independent and dependent variables depicted in previous work, reviewed the connections found between them, and illustrated the role played by moderating variables. The framework also serves as a reference to determine the impact each factor has on BPC participants in their entrepreneurial futures. The framework is illustrated in Fig. 8 .

figure 8

BPC theoretical framework

In the context of BPC, several antecedents can be identified as determinants of future entrepreneurial behavior. Our framework draws on previously published theoretical underpinnings to define both the antecedents of entrepreneurial activity and the multiple intrinsic factors that contribute to its multifaceted nature. We start by identifying entrepreneurial intention and entrepreneurial competence, which have been investigated in the literature through the theoretical lens of the TPB (Ajzen, 1991 ). Then, drawing on the theoretical model Lv et al. ( 2021 ) developed, we expect entrepreneurial teaching and practice support to positively impact future entrepreneurial intention and the development of entrepreneurial competencies. This theoretical assumption is backed by a few studies (Liñán et al., 2011 ) and deemed worthy of further attention. For example, future research could adopt a hierarchical multiple regression to determine the impact of entrepreneurial teaching on future entrepreneurial intention (Olokundun et al., 2017 ). Alternatively, the impact could be investigated through multiple regression models by developing a set of factors tailored to the entrepreneurial education programs and extracted via questionnaires (Liñán et al., 2011 ).

Drawing on entrepreneurial research, we find the perceived desirability of entrepreneurship and the perceived feasibility of entrepreneurship (Schlaegel & Koenig, 2014 ) as the two main attitudes toward entrepreneurial intentions (Ajzen, 1991 ; Fishbein & Ajzen, 1975 ). In other words, per the theoretical model proposed by Overall et al. ( 2018 ), entrepreneurial orientation leads students and nascent entrepreneurs to the desirability of an entrepreneurial career and the perceived feasibility of said career, which subsequently influence their entrepreneurial intentions. Then, drawing on the TRA and TPB frameworks, we propose that when individuals possess strong desirability toward an entrepreneurial career and perceive said career as feasible, they will most likely form entrepreneurial intentions (Overall et al., 2018 ).

We define entrepreneurial teaching as the essential aspect of entrepreneurship education. Research suggests that educational support affects nascent entrepreneurs by providing them with adequate skills to tackle better entrepreneurial life (Grichnik et al., 2014 ; Tata & Niedworok, 2018 ). In other words, entrepreneurial education programs actively contribute to entrepreneurial development (Škare et al., 2022 ). The positive effects of educational support on entrepreneurial success and intention can be found in empirical studies (Thomas et al., 2014 ; Passaro et al., 2020 ). More specifically, we note entrepreneurial education as a key factor in influencing innovation and development. The entrepreneur’s competencies are seen as an individual and organizational resource that needs to be properly developed through educational programs in order to bring out its potential for the entrepreneurial future (Salmony & Kanbach, 2022 ). Overall, drawing on the theoretical framework of Lv et al. ( 2021 ), we find both entrepreneurial teaching and entrepreneurial practice, intended as BPC participation, to affect their entrepreneurial intention significantly.

A set of moderating control variables can be used to provide a more comprehensive overview of the influence played by the stakeholders mentioned above. Wegner et al. ( 2019 ) suggest that future research could specify how age moderates the relationship between entrepreneurial support variables and the outcomes of BPC participants. Other studies have also supported the use of age as a moderator of the effectiveness of BPC support on entrepreneurial intention (Cant, 2018 ; Passaro et al., 2020 ). Furthermore, McGowan and Cooper ( 2008 ) claim that entrepreneurs’ levels of knowledge could be tested as moderating variables of entrepreneurial intention and behavior, as BPC participants might have different backgrounds and levels of expertise, which could influence the outcomes of their entrepreneurship activities. Additionally, Lewellyn and Muller-Kahle ( 2016 ) propose using gender as a moderator of entrepreneurial activity. Finally, Terán-Yépez et al. ( 2022 ) discuss the use of affective dispositions as variables influencing entrepreneurial activity. Future research could expand upon their findings and use hope, courage, fear and regret as moderating variables of entrepreneurial intentions.

Entrepreneurial intention as a variable that affects entrepreneurial behavior is backed by a theoretical study conducted by Overall et al. ( 2018 ), underpinned by the TPB (Ajzen, 1991 ). A positive correlation between the two was deemed consistent and statistically significant. In conclusion, the above framework could help explore the connection between BPC participation and the development of entrepreneurial activity, which thus far has received little empirical attention in research. Future research could delve further into the impact of BPC participation and institutional support on entrepreneurial activity to give proper closure to a long-lasting debate on the usefulness of BPC as a stimulant for entrepreneurial practice (Fayolle & Klandt, 2006 ; Russell et al., 2008 ). In addition, many methodological approaches could effectively encapsulate the impact described above, as seen in entrepreneurship research. For instance, future studies could employ a longitudinal case study approach (Overall et al., 2018 ) to follow nascent entrepreneurs in their journey and determine the impact of BPC participation. Longitudinal studies have proven effective in capturing the factors and variables influencing entrepreneurial life over the years (Petty & Gruber, 2011 ).

Conclusions

The purpose of this SLR was to critically analyze the literature related to BPCs and set the future research agenda for the area of entrepreneurship. To the best of our knowledge, ours is the first SLR to review research focused on recent BPC literature (Tipu, 2018 ), thus making our contribution original in its approach. The originality of the study lies in it being the first attempt at conducting an SLR on the topic of BPCs and contributing to science in several ways, as depicted below. Our study on BPC research has several implications for both academics and practitioners. From a theoretical perspective, our study makes several contributions to BPC and entrepreneurship literature. It does so by not only synthesizing extant research, but also by providing a structured research agenda built upon the several gaps found amid BPC literature. A further contribution to science is the development of a theoretical framework that will enable future researchers to have a bird’s-eye view of the domain and structure their future contributions accordingly. From a practical perspective, the study is of interest to practitioners and nascent entrepreneurs, as it provides policymakers and practitioners with a BPC blueprint featuring state-of-the-art characteristics and several key implications on how and why participating in BPCs is beneficial to nascent entrepreneurs. We propose a more detailed look at both theoretical and practical implications below.

Implications for research

Our main research contribution is a detailed review of the recent literature on BPCs, which can be deemed original, as no authors have attempted to systematically synthesize the existing BPC research. Our approach to the design of the SLR was twofold. We first provided a descriptive overview of the sample in terms of annual scientific production and geographical relevance. We then applied qualitative content analysis to highlight key emerging themes that were used to identify foci for future research directions. Based on our classification, we contend that the theoretical advancement of this research area requires greater attention to both antecedents and consequences of BPC attendance.

Our second contribution was the development of a research framework to synthesize existing knowledge on BPCs and to provide new and original insights into the BPC literature stream. Our framework explicates the role played by BPCs in the professional lives of nascent entrepreneurs (McKenzie, 2018 ; Overall et al., 2018 ) in terms of how it affects their entrepreneurial behavior (Burton, 2020 ; Passaro et al., 2017 ) and identifies the specific characteristics BPCs should feature to be as effective as possible. The same framework also helps define the scope for future research, as it identifies several avenues that future entrepreneurship scholars should explore (Fichter & Tiemann, 2020 ; Li et al., 2019 ). The framework provides future researchers a bird’s-eye view of the existing knowledge base in the area, indicating, at the same time, what remains underexplored or ignored. Additionally, by profiling extant research on BPCs, we offer scholars a comprehensive overview of potentially appropriate outlets for their studies, along with the most widely used methods and theories that could help them design their future research.

Finally, we contribute by systematically uncovering crucial research gaps in the reviewed literature on BPCs from both a methodological and a content perspective. From a methodological perspective, our analysis has revealed the need for future research to broaden the methodological scope of BPC research (Efobi & Orkoh, 2018 ). Thus far, the BPC literature stream has been dominated by empirical research featuring case studies and experimental designs (Cervilla, 2008 ; Li et al., 2019 ; Mancuso et al., 2010 ). Quantitative and mixed-method research is needed to further expand upon the findings of exploratory BPC research and to test their validity on a larger scale. From a content perspective, our study has defined a structured research agenda synthesized from extant gaps. We have identified and listed several research questions that could drive future work on the topic. Additionally, our study has highlighted the uneven distribution of BPC research from a geographical standpoint. While their significance is equally pertinent for developed and emerging economies (Tipu, 2018 ) and BPC programs are becoming increasingly popular in developing countries (House-Soremenkun & Falola, 2011 ; Wong, 2011 ), our findings suggest that country-specific production is still lagging behind pioneering nations, namely the USA and the UK. Hence, there is a need for additional evidence from developing countries, along with cross-cultural analyses to highlight the cultural differences in BPC and entrepreneurial education.

Practical implications

Our study has multiple implications for BPC practices. First, it provides policymakers and practitioners with a BPC blueprint featuring state-of-the-art characteristics. Drawing on Cant’s ( 2018 ) BPC blueprint, which was an attempt to identify an ideal set of characteristics for BPCs, we reviewed and expanded upon their findings by adding new points of view taken from empirical studies found in our sample to add new insights and incorporate more contributions from the literature. Overall, the ideal BPC should feature active participation from industry professionals, as they can provide participants with valuable insights into the professional world (Botha & Robertson, 2014 ), which BPC research has shown to be important (Moultry, 2011 ). Furthermore, a serious effort should be made to guarantee BPC participants funds and financial resources for the early stages of their entrepreneurial lives, as material support and knowledge sharing are both crucial to increasing their chances of survival (Burton, 2020 ; Passaro et al., 2017 ).

Second, our study informs practitioners of the importance of longitudinally monitoring BPC participants throughout their entrepreneurial lives (Watson et al., 2018 ). Longitudinal data allow a better understanding of the factors and variables influencing entrepreneurial life (Petty & Gruber, 2011 ). This could help BPC organizers better weigh the design choices in their educational courses by monitoring the returns they get from the seeds planted during the developmental phase of nascent business ideas (Jiang et al., 2018 ). Longitudinal monitoring of BPC participants is valuable in several ways. As suggested by McKenzie ( 2017 ), BPC winners tend to possess a greater survival rate in entrepreneurial life, which contributes to the debate on whether the quality of business plans affects the future survival rate (Simón-Moya & Revuelto-Taboada, 2016 ). Practitioners and policymakers should be asked to monitor and support BPC participants after the competition. As noted by Cant ( 2018 ), building a long-lasting collaboration with BPC participants increases their chances of survival, regardless of whether they have won the actual competition. The role played by BPC organizers in building a post-competition collaborative network is vital and has a significant impact on the survival rate, employment, profits, and sales of ventures participating in BPCs (McKenzie, 2017 ).

Our study could also be beneficial to managers, entrepreneurs, and professionals alike, as it can provide them with several key implications on how and why participating in BPCs is beneficial to nascent entrepreneurs, in terms of visibility, knowledge development, and networking opportunities (Thomas et al., 2014 ; Passaro et al., 2020 ). This is true both for novel entrepreneurs who have yet to emerge and for industry professionals who are willing to get in touch with future generations of entrepreneurs and stimulate the discussion around the topic of BPCs (Barbini et al., 2021 ). While participants generally obtain more tangible benefits from winning BPCs, their very participation in the competition can provide several intangible benefits as well, primarily in terms of networking opportunities and skill development. In this regard, our study is of practical significance for nascent entrepreneurs willing to partake in BPCs, as it features a clear depiction of what to expect to gain from the competition.

Limitations and future research

We adopted an SLR methodology to analyze the available research on BPCs. Our systematic review of the BPC literature provided descriptive and original contributions to the field. Four research questions were addressed in this article. RQ1 was addressed by providing an overview of the current state of the art of BPC research in what we refer to as research profiling. Fifty-eight unique records were extracted from the Scopus and WoS databases and analyzed in terms of annual scientific production, publication sources, geographical contexts, and influence in terms of citations. We addressed RQ2 by adopting qualitative content analysis and identifying several emerging themes across the sample, which led to a structured overview of the existing knowledge on BPCs. In regards to RQ3, we were able to identify several research gaps in the empirical literature and suggest avenues for further research. Finally, we addressed RQ4 by developing a theoretical framework that uses the above sample as its foundation. The framework aims to investigate the multidimensional nature of BPCs and provide future researchers with a theoretical underpinning for their studies.

In regards to future research directions, our systematic review has highlighted several thematic areas of prior research and investigated extant gaps both in terms of topics and in terms of methodological choices. We have, thus, identified various possible avenues for future research and presented them in a theoretical framework, that acs as a synthesized view of the existing research, serves as the basis for identifying visible gaps in prior research and suggesting various theme-based research questions and avenues of future research. In other words, the framework aims to investigate the multidimensional nature of BPCs and provide future researchers with a theoretical underpinning for their studies.

There are a few caveats worth mentioning regarding this study, some of which are intrinsic to the SLR methodology. First, the sample may not have included a few records that did not appear in the online repository due to missing or different keywords. Although chain referencing reduces the chances of this happening, the risk is still there and needs to be addressed. Second, our research protocol included only peer-reviewed journal articles written in English, as conference proceedings, book chapters, and review articles were excluded from the sample. Future research could include gray literature and other sources to compare their results with those published in peer-reviewed journals. Third, the scope of the SLR was limited to BPCs. Therefore, it did not explore nascent entrepreneurs or the role of entrepreneurial education in universities in general, despite both topics being strongly related to BPCs. Future SLRs could take a broader approach and discuss the topic of entrepreneurial education, to which the BPC stream contributes.

Data availability

The datasets generated during and/or analysed during the current study are available from the corresponding author on reasonable request.

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* Mboha, S. (2018). An assessment of the impact of business plan competitions on enterprise development in Kenya: A case study of Chora bizna enablish LaunchPad. European Scientific Journal, 14 (10), 390. https://doi.org/10.19044/esj.2018.v14n10p390

* McGowan, P., & Cooper, S. (2008). Promoting technology-based enterprise in higher education: The role of business plan competitions. Industry and Higher Education, 22 , 29–36. https://doi.org/10.5367/000000008783876968

* McKenzie, D. (2017). Identifying and spurring high-growth entrepreneurship: Experimental evidence from a business plan competition. American Economic Review, 107 (8), 2278–2307. https://doi.org/10.1257/aer.20151404

* McKenzie, D. (2018). Can business owners form accurate counterfactuals? Eliciting treatment and control beliefs about their outcomes in the alternative treatment status. Journal of Business & Economic Statistics: A Publication of the American Statistical Association, 36 (4), 714–722. https://doi.org/10.1080/07350015.2017.1305276

* McKenzie, D., & Sansone, D. (2019). Predicting entrepreneurial success is hard: Evidence from a business plan competition in Nigeria. Journal of Development Economics, 141 , 102369. https://doi.org/10.1016/j.jdeveco.2019.07.002

* Mosey, S., Noke, H., & Binks, M. (2012). The influence of human and social capital upon the entrepreneurial intentions and destinations of academics. Technology Analysis and Strategic Management, 24 (9), 893–910. https://doi.org/10.1080/09537325.2012.718664

* Moultry, A. M. (2011). A mass merchandiser’s role in enhancing pharmacy students’ business plan development skills for medication therapy management services. American Journal of Pharmaceutical Education, 75 (7), 133. https://doi.org/10.5688/ajpe757133

Olafsen, E., & Cook, P. A. (2016). Growth entrepreneurship in developing countries: a preliminary literature review. 

* Olokundun, M. A., Ibidunni, A. S., Peter, F., Amaihian, A. B., & Ogbari, M. (2017). Entrepreneurship educator’s competence on university students’ commitment to learning and business plan writing. Academy of Strategic Management Journal, 16 (2)

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Paek, B., & Lee, H. (2018). Strategic entrepreneurship and competitive advantage of established firms: Evidence from the digital TV industry. International Entrepreneurship and Management Journal, 14 (4), 883–925. https://doi.org/10.1007/s11365-017-0476-1

Palacios-Marqués, D., Soto-Acosta, P., & Merigó, J. M. (2015). Analyzing the effects of technological, organizational and competition factors on Web knowledge exchange in SMEs. Telematics and Informatics, 32 (1), 23–32. Elsevier BV.  https://doi.org/10.1016/j.tele.2014.08.003

* Parente, R., Feola, R., Cucino, V., & Catolino, G. (2015). Visibility and reputation of new entrepreneurial projects from academia: The role of start-up competitions. Journal of the Knowledge Economy, 6 (3), 551–567. https://doi.org/10.1007/s13132-015-0255-6

* Passaro, R., Quinto, I., & Thomas, A. (2017). Start-up competitions as learning environment to foster the entrepreneurial process. International Journal of Entrepreneurial Behaviour & Research, 23 (3), 426–445. https://doi.org/10.1108/ijebr-01-2016-0007

* Passaro, R., Quinto, I., & Thomas, A. (2020). Supporting entrepreneurship policy: An overview of Italian start-up competitions. International Journal of Entrepreneurship and Innovation Management, 24 (1), 1. https://doi.org/10.1504/ijeim.2020.105274

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* Raveendra, P. V., Rizwana, M., Singh, P., Satish, Y. M., & Kumar, S. S. (2018). Entrepreneurship development through industry institute collaboration: An observation. International Journal of Civil Engineering and Technology, 9 (6), 980–984.

Riviezzo, A., De, A., & Rosaria, M. (2012). Attractiveness of European higher education in entrepreneurship: A strategic marketing framework. Entrepreneurship - Creativity and Innovative Business Models. InTech.

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* Russell, R., Atchison, M., & Brooks, R. (2008). Business plan competitions in tertiary institutions: Encouraging entrepreneurship education. Journal of Higher Education Policy and Management, 30 (2), 123–138. https://doi.org/10.1080/13600800801938739

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Salmony, F. U., & Kanbach, D. K. (2022). Personality trait differences across types of entrepreneurs: A systematic literature review. Review of Managerial Science, 16 (3), 713–749. https://doi.org/10.1007/s11846-021-00466-9

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* Schwartz, M., Goethner, M., Michelsen, C., & Waldmann, N. (2013). Start-up competitions as an instrument of entrepreneurship policy: The German experience. European Planning Studies, 21 (10), 1578–1597. https://doi.org/10.1080/09654313.2012.722960

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Škare, M., Blanco-Gonzalez-Tejero, C., Crecente, F., & del Val, M. T. (2022). Scientometric analysis on entrepreneurial skills - creativity, communication, leadership: How strong is the association? Technological Forecasting and Social Change, 182 , 121851. https://doi.org/10.1016/j.techfore.2022.121851

Tabares, A., Chandra, Y., Alvarez, C., & Escobar-Sierra, M. (2021). Opportunity-related behaviors in international entrepreneurship research: A multilevel analysis of antecedents, processes, and outcomes. International Entrepreneurship and Management Journal, 17 (1), 321–368. https://doi.org/10.1007/s11365-020-00636-3

* Tata, A., & Niedworok, A. (2018). Is beauty in the eye of the beholder? An empirical study of how entrepreneurs, managers, and investors evaluate business opportunities at the earliest stages. Venture Capital, 22 (1), 71–104. https://doi.org/10.1080/13691066.2018.1526449

Terán-Yépez, E., Jiménez-Castillo, D., & Sánchez-Pérez, M. (2022). The role of affect in international opportunity recognition and the formation of international opportunity beliefs. Review of Managerial Science, 1–43.

Thomas, D. F., Gudmundson, D., Turner, K., & Suhr, D. (2014). Business plan competitions and their impact on new ventures' business models. Journal of Strategic Innovation & Sustainability, 10(1).

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* Tornikoski, E. T., & Puhakka, V. (2009). Exploring firm emergence: Initially conditioned or actively created? International Journal of Entrepreneurship & Small Business, 7 (1), 123. https://doi.org/10.1504/ijesb.2009.021613

* Waldmann, N., Schwartz, M., & Michelsen, C. (2010). From the intention to the foundation - start-up competitions in germany. List Forum Fur Wirtschafts- Und Finanzpolitik, 36 (4), 301–317. https://doi.org/10.1007/BF03373978

* Wales, W., Cox, K. C., Lortie, J., & Sproul, C. R. (2019). Blowing smoke? How early-stage investors interpret hopeful discourse within entrepreneurially oriented business plans. Entrepreneurship Research Journal, 9 (3), 20180114. https://doi.org/10.1515/erj-2018-0114

* Watson, K., & McGowan, P. (2019). Emergent perspectives toward the business plan among nascent entrepreneur start-up competition participants. Journal of Small Business and Enterprise Development, 26 (3), 421–440. https://doi.org/10.1108/jsbed-02-2018-0038

* Watson, K., McGowan, P., & Cunningham, J. A. (2018). An exploration of the Business Plan Competition as a methodology for effective nascent entrepreneurial learning. International Journal of Entrepreneurial Behaviour & Research, 24 (1), 121–146. https://doi.org/10.1108/ijebr-05-2017-0158

* Watson, K., McGowan, P., & Smith, P. (2015). Leveraging effectual means through business plan competition participation. Industry and Higher Education, 29 (6), 481–492. https://doi.org/10.5367/ihe.2015.0285

* Wegner, D., Thomas, E., Teixeira, E. K., & Maehler, A. E. (2019). University entrepreneurial push strategy and students’ entrepreneurial intention. International Journal of Entrepreneurial Behaviour & Research, 26 (2), 307–325. https://doi.org/10.1108/ijebr-10-2018-0648

* Weisz, N., Vassolo, R. S., Mesquita, L., & Cooper, A. C. (2010). Diversity and social capital of nascent entrepreneurial teams in business plan competitions. Management Research the Journal of the Iberoamerican Academy of Management, 8 (1), 39–63. https://doi.org/10.1108/1536-541011047903

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Dana, LP., Crocco, E., Culasso, F. et al. Business plan competitions and nascent entrepreneurs: a systematic literature review and research agenda. Int Entrep Manag J 19 , 863–895 (2023). https://doi.org/10.1007/s11365-023-00838-5

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The Management of a Business Strategic Plan: A Systematic Literature Review

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2022, Zenodo (CERN European Organization for Nuclear Research)

The strategic business plan is an important document for every organisation aiming at remaining focused and profitable in its area of operation and it further acts as a guide for the period specified therein.

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This study aims to shed light on the role of strategic planning by utilizing the resource-based view (RBV) model to achieve an organization’s success. Through reviewing related literature it becomes necessary for organizations to prepare their financial or non-financial resources as success instigators. This applies mainly to tangible assets that can produce high-quality products and human resources and can attract potential customers to achieve competitive advantage. Hence, the ultimate finding articulates that using strategic planning through a resource-based view is the key to success. For future study there is a need to include more resources in a resource-based view like a relationship with key stakeholders that is also considered an essential asset.

MUSTAFA T E V F İ K KARTAL

Companies have a variety of aims. Among them, the most important one is to survive. However, survival is not an easy subject in the global environment. Even surviving becomes harder while competition increases. So, companies have to deal with both globalization and competition at the same time. Although it is possible to mention about lots of tools, one of the most important innovative management tool is strategic planning in terms of the financial success perspectives. The strategic plan (SP) is a tool that can be used to shape their future and to survive by companies. It is concluded that SPs have important benefits. Firstly, SPs make the contribution to the survival. Secondly, SPs are helpful to plan future. Thirdly, SPs are used as a guide. Fourthly, SPs trigger good management practices and innovation culture because of requiring transformation processes. Fifthly, due to triggering internal transformation works, SPs make the contribution to gain the comparative competitive advantage. Sixthly, by implementing SPs well, it is inevitable to reach good financial results.

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A literature review is a document or section of a document that collects key sources on a topic and discusses those sources in conversation with each other (also called synthesis ). The lit review is an important genre in many disciplines, not just literature (i.e., the study of works of literature such as novels and plays). When we say “literature review” or refer to “the literature,” we are talking about the research ( scholarship ) in a given field. You will often see the terms “the research,” “the scholarship,” and “the literature” used mostly interchangeably.

Where, when, and why would I write a lit review?

There are a number of different situations where you might write a literature review, each with slightly different expectations; different disciplines, too, have field-specific expectations for what a literature review is and does. For instance, in the humanities, authors might include more overt argumentation and interpretation of source material in their literature reviews, whereas in the sciences, authors are more likely to report study designs and results in their literature reviews; these differences reflect these disciplines’ purposes and conventions in scholarship. You should always look at examples from your own discipline and talk to professors or mentors in your field to be sure you understand your discipline’s conventions, for literature reviews as well as for any other genre.

A literature review can be a part of a research paper or scholarly article, usually falling after the introduction and before the research methods sections. In these cases, the lit review just needs to cover scholarship that is important to the issue you are writing about; sometimes it will also cover key sources that informed your research methodology.

Lit reviews can also be standalone pieces, either as assignments in a class or as publications. In a class, a lit review may be assigned to help students familiarize themselves with a topic and with scholarship in their field, get an idea of the other researchers working on the topic they’re interested in, find gaps in existing research in order to propose new projects, and/or develop a theoretical framework and methodology for later research. As a publication, a lit review usually is meant to help make other scholars’ lives easier by collecting and summarizing, synthesizing, and analyzing existing research on a topic. This can be especially helpful for students or scholars getting into a new research area, or for directing an entire community of scholars toward questions that have not yet been answered.

What are the parts of a lit review?

Most lit reviews use a basic introduction-body-conclusion structure; if your lit review is part of a larger paper, the introduction and conclusion pieces may be just a few sentences while you focus most of your attention on the body. If your lit review is a standalone piece, the introduction and conclusion take up more space and give you a place to discuss your goals, research methods, and conclusions separately from where you discuss the literature itself.

Introduction:

  • An introductory paragraph that explains what your working topic and thesis is
  • A forecast of key topics or texts that will appear in the review
  • Potentially, a description of how you found sources and how you analyzed them for inclusion and discussion in the review (more often found in published, standalone literature reviews than in lit review sections in an article or research paper)
  • Summarize and synthesize: Give an overview of the main points of each source and combine them into a coherent whole
  • Analyze and interpret: Don’t just paraphrase other researchers – add your own interpretations where possible, discussing the significance of findings in relation to the literature as a whole
  • Critically Evaluate: Mention the strengths and weaknesses of your sources
  • Write in well-structured paragraphs: Use transition words and topic sentence to draw connections, comparisons, and contrasts.

Conclusion:

  • Summarize the key findings you have taken from the literature and emphasize their significance
  • Connect it back to your primary research question

How should I organize my lit review?

Lit reviews can take many different organizational patterns depending on what you are trying to accomplish with the review. Here are some examples:

  • Chronological : The simplest approach is to trace the development of the topic over time, which helps familiarize the audience with the topic (for instance if you are introducing something that is not commonly known in your field). If you choose this strategy, be careful to avoid simply listing and summarizing sources in order. Try to analyze the patterns, turning points, and key debates that have shaped the direction of the field. Give your interpretation of how and why certain developments occurred (as mentioned previously, this may not be appropriate in your discipline — check with a teacher or mentor if you’re unsure).
  • Thematic : If you have found some recurring central themes that you will continue working with throughout your piece, you can organize your literature review into subsections that address different aspects of the topic. For example, if you are reviewing literature about women and religion, key themes can include the role of women in churches and the religious attitude towards women.
  • Qualitative versus quantitative research
  • Empirical versus theoretical scholarship
  • Divide the research by sociological, historical, or cultural sources
  • Theoretical : In many humanities articles, the literature review is the foundation for the theoretical framework. You can use it to discuss various theories, models, and definitions of key concepts. You can argue for the relevance of a specific theoretical approach or combine various theorical concepts to create a framework for your research.

What are some strategies or tips I can use while writing my lit review?

Any lit review is only as good as the research it discusses; make sure your sources are well-chosen and your research is thorough. Don’t be afraid to do more research if you discover a new thread as you’re writing. More info on the research process is available in our "Conducting Research" resources .

As you’re doing your research, create an annotated bibliography ( see our page on the this type of document ). Much of the information used in an annotated bibliography can be used also in a literature review, so you’ll be not only partially drafting your lit review as you research, but also developing your sense of the larger conversation going on among scholars, professionals, and any other stakeholders in your topic.

Usually you will need to synthesize research rather than just summarizing it. This means drawing connections between sources to create a picture of the scholarly conversation on a topic over time. Many student writers struggle to synthesize because they feel they don’t have anything to add to the scholars they are citing; here are some strategies to help you:

  • It often helps to remember that the point of these kinds of syntheses is to show your readers how you understand your research, to help them read the rest of your paper.
  • Writing teachers often say synthesis is like hosting a dinner party: imagine all your sources are together in a room, discussing your topic. What are they saying to each other?
  • Look at the in-text citations in each paragraph. Are you citing just one source for each paragraph? This usually indicates summary only. When you have multiple sources cited in a paragraph, you are more likely to be synthesizing them (not always, but often
  • Read more about synthesis here.

The most interesting literature reviews are often written as arguments (again, as mentioned at the beginning of the page, this is discipline-specific and doesn’t work for all situations). Often, the literature review is where you can establish your research as filling a particular gap or as relevant in a particular way. You have some chance to do this in your introduction in an article, but the literature review section gives a more extended opportunity to establish the conversation in the way you would like your readers to see it. You can choose the intellectual lineage you would like to be part of and whose definitions matter most to your thinking (mostly humanities-specific, but this goes for sciences as well). In addressing these points, you argue for your place in the conversation, which tends to make the lit review more compelling than a simple reporting of other sources.

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What is a literature review?

Why conduct a literature review, stages of a literature review, lit reviews: an overview (video), check out these books.

  • Types of reviews
  • 1. Define your research question
  • 2. Plan your search
  • 3. Search the literature
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  • 5. Synthesize your findings
  • 6. Write the review
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business plan literature review

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business plan literature review

Definition: A literature review is a systematic examination and synthesis of existing scholarly research on a specific topic or subject.

Purpose: It serves to provide a comprehensive overview of the current state of knowledge within a particular field.

Analysis: Involves critically evaluating and summarizing key findings, methodologies, and debates found in academic literature.

Identifying Gaps: Aims to pinpoint areas where there is a lack of research or unresolved questions, highlighting opportunities for further investigation.

Contextualization: Enables researchers to understand how their work fits into the broader academic conversation and contributes to the existing body of knowledge.

business plan literature review

tl;dr  A literature review critically examines and synthesizes existing scholarly research and publications on a specific topic to provide a comprehensive understanding of the current state of knowledge in the field.

What is a literature review NOT?

❌ An annotated bibliography

❌ Original research

❌ A summary

❌ Something to be conducted at the end of your research

❌ An opinion piece

❌ A chronological compilation of studies

The reason for conducting a literature review is to:

business plan literature review

Literature Reviews: An Overview for Graduate Students

While this 9-minute video from NCSU is geared toward graduate students, it is useful for anyone conducting a literature review.

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Writing literature reviews: A guide for students of the social and behavioral sciences

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Extended Critical Argument with SLR in Business Research for Entrepreneur Personal Branding for SME Startup Success

This extended critical argument will be highlighting the three main areas on which SLR is established. We will be evaluating an entrepreneur’s branding in an SME in this regard.

Executive Summary

Emerging social networking and the internet quest also brought in two distinct phenomena: Social networking is a modern communications tool for SMEs and consumers to connect in a corporate sense. This thesis tries to investigate the effect of social networking on small businesses. This approach uses a systematic literature review (SLR). The method is carried out by reading journals that deal with research matters SME users in all nations exhibited common effects of social network use SMEs’ uses of social media can be linked to their goals. Its influence is mostly because of clients, partners, partners, and rivals. The results are, however, broad and impersonal. Therefore, more study is needed to understand better the factors that influence social media use in small businesses.

Introduction

Small and medium businesses are essential for many countries. Because of their contributions to creating employment and economic growth that positively affect the world, small businesses pose fresh obstacles in today’s economy because of increased variation and competitiveness brought about by globalization. Small- to medium-sized enterprises provide both financial and human capital that are very limited on the other. Conversely, to help SMEs conquer networks outside their current markets, proximity to external funding, and product creativity (Khedher, M., 2014).

The findings are in part backed by information and communication technologies, which have impacted sales for the last two decades. The industry is riding the internet’s coattails. The expansion of the internet has given rise to two significant effects: social networking and search engines. Social networking is a modern engagement tool that businesses may use to engage with consumers.

Social networking is a credible and up-to-to-date resource. Social networking enables quick communication and helps businesses have an accurate sense of consumer desires and better serve them. The rise of social networking has given small businesses new reasons to become more ambitious in marketing, labels, or services. The number of social media users grows per year.

Additionally, both kinds of social networking sites continue to grow in use. Social networking is a routine tool for everyday use. It has triggered conduct improvement for the company to handle. Strategies and tools have completely shifted with the emergence of social networking. Today, different social media channels have become an essential part of all marketing efforts, particularly for SMEs.

.In contrast, social networking seems to have different advantages. It is essential for the consumer base and retaining your current customers. Often, using social networking for consumers will help to fuel new product development. According to an industry study, most advertisers agree that social networking is a part of their overall communication strategy. Using social networking is significantly less expensive and more efficient than most contact methods.

More companies are using social networking to boost their brand recognition, consumer care offerings and increase revenue. Many businesses have social networking use as an essential goal also, marketing through social media may improve a company’s image. Customers have links to different consumer experiences and feedback using social media.

Based on the information above, it seems that SMEs have accepted the presence of social media. Social networking has functionalities. This research unveiled seven blocks of social network features, including personality, conversation, appearance, and credibility.

Concerning small businesses, each social media has its unique influence. Studies can be done on how social networking is utilized for small businesses. No analysis so far has been able to test the validity of this hypothesis. (Nyoni, T. ,Bonga and W.G., 2018)

Social media’s impact on small businesses has been widely studied before. Some earlier research explored the social networking use of small businesses and how they use it to drive their engagement in the industry. So far, there has not been any comprehensive research into how social networking influences the sales phase in SMEs.   (Wardati, N.K., Mahendrawathi, and E.R., 2019). Will the use of social media have an impact on small business sales? (not Citation Analysis or Completion) (SLR). In the first step of SLR, previous pieces of literature will be collected as data.

Each stage was executed in order:

  • Keyword searching for relevant texts under the requirements specified in the plan.
  • Except for literature that does not follow the inclusion/exclusion criterion.
  • Reading articles whose titles follow the criteria and elimination occurred until involuntariness.
  • Determining the full authorship of the literature and determining the content
  • They use keywords such as “social networking” while searching the Science Direct index “S.M. “small-enterprises” and “sales” or “sales.”
  • In Emerald, keyword, and content search method was used in the journals:

either “social media “OR “S.M.” and “small businesses “SME’s” AND “selling.”

Number of journals generated at each quest stage and journal findings shown in Table 1 center

The next step in the literature review is to weed out irrelevant, and important literature Inclusion requirements are literature review criteria, although exclusion criteria are already existing literature review criteria. The below are the inclusion criteria:

  • The article included in this issue
  • The journal studies the social media use
  • The findings were first presented in 2018
  • The paper journal is available in English (Q1 and Q2)
  • The research requirements are as follows:
  • This literature has little to do with small businesses and does not meet their business study needs.
  • Only scholars can find the literature (not in English)
  • It was out before 2017

After the literature has been identified, the next phase is to evaluate the quality. Evaluation of the literature is dependent on the OR operation. We’ve looked up titles, keywords, and abstracts for 18 publications. Out of the 18 papers, they’ll be choosing according to the principles. the papers are the last of the screening process to gain a greater understanding, will be studied to see how the papers represent the study’s issue or concept. (Costa, 2019)

Synthesis is the final move. This process was carried out to resolve the issue outlined in the introduction. The Systematic Literature Review (SLRLC) was done in several steps, as seen in Fig. 1.

Sample Master Business Literature Review

The literature analysis was completed, 12 of the 18 journals were selected. The analysis covers 12 articles. The findings of the literature analysis of 12 approved articles were arranged and organized based on the forms of social media, their use, and the case studies applied. A short overview of the 12 selected articles is designed to explain further the literature relevant to the formulation of the issue. The last move was to study social networking on small businesses from the systematic literature review. The response to the question can be found.

According to the synthesis findings, there are 12 papers included in this analysis. We collected case studies from many countries. Furthermore, the forms of social networking and usage of each industry are different. can be seen in Fig. 2

Sample Master Business Literature Review

Many journals used in the field refer to small and medium-sized businesses only, as in Fig. 2a Fig. 2b reveals that traditional social networking has been heavily researched. People commonly use Facebook, and that’s why it is convenient to learn.

Such case studies also included social networking, for example, Facebook and Twitter. Much of the published studies have been completed in the U.K. Most U.K. small businesses use I.T. (Matthews, R.S., Chalmers, D.M. and Fraser, S.S., 2018)

Social networking has various corporate purposes, such as communications, public relations, customer care, human services, employee training, and client relations. Web 2.0 philosophy and technologies form the basis of social networking, which aids the production and distribution of information developed by users.

Many social media websites involve social networking sites (SNS), forums, newsletters, microblogging, product/service ratings, and video sharing. Social networking promotes sharing and material creation through individuals. Internet networks such as Facebook, YouTube, Instagram, TripAdvisor, forums, Wikipedia, and review websites are used for sharing interactions and interactions. As long as consumers have access to mobile devices such as smartphones or laptops, they will remain connected with social media. (Yadav, N., Gupta, K., Rani, L., and Rawat, D., 2018.)

Following the literature community, a more thorough review of social network use of the sales mechanism was conducted on 12 trade papers used as testing resources. The effect of social network use on small businesses is visible in Table 2.

Sample Master Business Literature Review

Based on the literature review, social networking had several effects on the sales phase. 12 studies say social networking had little impact on small business sales operations.

Any of these journals teach you about consumer engagement, as well as measuring customer traits on social media. Consequently, social media use (SMEs) impacts were observed to apply to diverse sectors and different forms of social communication.

It can be widely inferred that the use of social networks is widespread among small businesses. Anything hinges on the form of small businesses and social networking. They use social media for business goals. Nearly all of the results apply to small and medium-sized companies’ sales and marketing processes, including their interaction with clients, corporate associates, and rivals.  (Secundo, G., Del Vecchio, P. and Mele, G., 2020)

Social networking is classified into social bookmarking, social networks, downloading, knowledge, and reporting on Facebook, Twitter, LinkedIn, Instagram, and Pinterest, becoming part of social publishing. A majority of companies use social messaging through social networks specific to the business’s plans and goals that utilize social networking. Additionally, therefore, much of the focus demographics with the usage of social media utilise social media.

The influence of social media on the small-entry phase will boost earnings (examples of television programs, films, books). However, this is not the norm in primary industries such as agriculture, which includes low-value-chain knowledge but just low information intensity. Many stakeholders, such as customers and staff, are willing to engage in the active use of social media. Businesses would assume a more critical, online, interactive, and transformational position with all their SMEs.

With this, companies will encourage and lead to the birth of entrepreneurial [generations]. Based on recent experience, SMEs get input from customers from social media. In other words, SMEs explore social media with their corporate interests. Marketing analysis solicits information from different stakeholders (customers, vendors, and employees) to make businesses aware of consumer demands and use those findings to produce new goods or services.

Additionally, social network use helps reduce expenses, creates stronger consumer connections, and allows access to relevant knowledge. extensive promotion doesn’t take a big expense on small and midsize businesses.  (Pittaway, L. and Cope, J., 2007)

The only way for a small business to expand its reach is to penetrate new markets, even though they have only a handful of human capital and insufficient financing. Social media is for businesses is to better advertise, collaborate, and network with stakeholders. This kind of organization wants more than a singular platform.

Social networking facilitates scheduled and constructive selling. Social networking is created by fresh and emerging tools that affect the market. As mentioned by The Industrial Marketing and Purchasing (IMP) theory will back this up by citing the relevance of social networking in tandem with other interconnected tools. First, social media is used by salespeople and sales managers.

Thirdly, social networking is successful in selling activities. Understanding the social networking tools and the real and future contribution of social network capital could be different. The popularity of social networking in small businesses relies on the company’s status. (Morais, F. and Ferreira, J.J., 2020)

SMEs don’t care for social networking. These issues are exacerbated by elderly business owners who find social networking challenges, which causes them to avoid social networking and utilize other tools. This research highlights the primary targets of social networking adoption in small to medium-sized businesses. Social media’s popularity often relies on how small businesses manage business functionality. Nevertheless, certain issues need further examination:

  • Effective application of social networking strategies benefits small to medium-sized companies. Small to medium-sized businesses (SMEs) can easily use social media. Social networking is more about intent, with no rules. The use of social media has been studied among small and medium-sized businesses. Social media’s position and effect are highly dependent on other services inside small and medium-sized companies. Therefore, there is a need to study the social networking effect on small businesses.
  • Alignment between social network functionalities to increase SMEs’ efficiency is different from any social networking service. Social networking was placed in the same study to be functional. This partnership tested how social networking built on top of SMEs’ usage would support social strategies.
  • Social media’s impact on small businesses and executing a successful social networking campaign, results, and perceived effects must also be factored. Allow it to demonstrate how much social media contributes to their development.

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business plan literature review

It is to find out how social networking affects small business sales methods by a systematic literature review (SLR). From the findings of several journals, we will determine certain social network impacts. The formula was applied to both of these impacts. One consequence of small business social networking use is greater exposure to customers and better communication, and another is greater content exposure at a lower rate. The impacts are variable, depending on the market and the social network.

This study looks at the effects of social network use on various sectors of small businesses. For the most part, this is a narrative of SMEs’ overall success. More analysis is needed to understand better the reasons behind social media usage in a wide range of small businesses. We will need to explore the connection between small businesses and social networking strategies.

SLR Protocol

Change of record, document history.

Although small and medium-sized enterprises (SMEs) account for 99 percent of private-sector firms, policymakers often ignore them, and the importance of the SME leader’s role is vastly underestimated.

Given this, is information management (K.M.) in small and medium-sized enterprises (SMEs) getting adequate coverage in K.M. research?

A recent study1 summarized and critiqued the literature on information management (K.M.) in SMEs, offering a summary of the state of the field and proposing a potential research agenda. The research used a systematic literature review approach to analyze 89 articles written in ten publications devoted to knowledge management. Personal branding can add up to the value of the SME as it directly affects the business the SME is doing. (Reed and C.J., 2018)

Research Questions

The aims of the SLR are to

  • To figure out the importance of self-branding in the SME ecosystem.
  • Collect and examine the information from these studies to determine the potential advantages and drawbacks of using personal branding to add value to the SME.
  • A realistic view of research in the field.
  • To provide a proper frame of reference.
  • To find the ultimate answer to the question: “Have entrepreneurs been good at marketing themselves.”

Strategy for Search

This segment explains the strategy for primary study searching. The quest strategy aims at identifying and collecting all literature that meets the inclusion and exclusion requirements set out. A hybrid quest approach will be developed, which involves both automated database scans automatically and manual meeting searches and journal searches. The quest technique was developed based on the experience of conducting a comprehensive mapping analysis. Note, publishing year is not limited as trial searches mean that a manageable number of findings can be provided by the devised quest technique that does not require further reduction.

Criteria for Selection

This segment outlines the conditions for inclusion and exclusion to ensure that only valid literature is admitted into the SLR.

Criteria for Inclusion

  • Publications can only study the usage of entrepreneurial marketing abilities that have already branded themselves to add value through their SMEs.
  • Documents including an observational analysis or a ‘learned lesson’ feature (experience report) shall be included.
  • The latest article used in many journals reporting the same research.
  • Release date is not a deterrent to inclusion.
  • Where applicable, grey literature (such as technical articles and government reports) would be approved.

Criteria for Exclusion

  • Publications shall be omitted if their primary emphasis is not on the marketing expertise of entrepreneurs.
  • Documents and analyses shall be omitted when the summary is accessible but not the complete text.
  • Publications that are not published in English shall be omitted.
  • All is omitted by letters, editorials, and opinion papers.

Selection Process

The selection method will be conducted by one researcher (the author) after an interval (of one month) to validate the selection process. In addition, a second researcher (a Ph.D. supervisor) may independently pick and equate a random subset of the archived search results with the search results they have conducted. By following these methods, the inclusion and exclusion conditions may be checked and validated.

The selection process is split into two phases:

  • Publications discovered during the initial review are analyzed based on their title and abstract study—meaningless literature.
  • Publications chosen during Phase 1 and open to further review (i.e., complete text reading). It was done to ensure that this publication includes details important to the research and evidence that can be retrieved for later review.

Study Quality Assessment

Each publication would be evaluated for its content. The quality testing process will proceed simultaneously with retrieving appropriate data and ensuring that a specific study result makes a meaningful contribution to the SLR.

Extraction of Data

This portion explains how the necessary knowledge is gathered from each publication.

Collection of Data

All details are retrieved by a single reviser (the author). A second evaluator (a Ph.D. supervisor) may derive knowledge separately from a random collection of publications. The findings can then be compared and compared. There are substantial irregularities in testing this random sample, consultations with the assessors, and a second doctoral supervisor to address the issue.

Synthesis of Data

The data synthesis technique will not be finalized until the effects of the SLR are aggregated. However, it is anticipated that details will be tabled in various tables relating to study questions.

If you need assistance with writing your literature review, our professional literature review writers are here to help!

Study limitations.

The investigator does not influence one part of the analysis concerning the electronic databases used during the SLR. Although these automated tools immediately retrieve the data. It could lead to two searches being genuinely similar and subsequent experiments to reproduce the study accurately.

Protocol Validation

The protocol submitted was validated after two expert reviewers were granted a previous edition (1.1). The modifications proposed by these reviewers were included in the provided procedure.

Nyoni, T. and Bonga, W.G., 2018. Anatomy of the small & medium enterprises (SMEs) critical success factors (CSFs) in Zimbabwe: Introducing the 3E model. Dynamic Research Journals’ Journal of Business & Management (DRJ-JBM), 1(2), pp.01-18.

Wardati, N.K. and Mahendrawathi, E.R., 2019. The impact of social media usage on the sales process in small and medium enterprises (SMEs): A systematic literature review. Procedia Computer Science, 161, pp.976-983.

Costa, E., Soares, A.L. and De Sousa, J.P., 2016. Information, knowledge and collaboration management in the internationalization of SMEs: A systematic literature review. International Journal of Information Management, 36(4), pp.557-569.

Matthews, R.S., Chalmers, D.M. and Fraser, S.S., 2018. The intersection of entrepreneurship and selling: An interdisciplinary review, framework, and future research agenda. Journal of Business Venturing, 33(6), pp.691-719.

Yadav, N., Gupta, K., Rani, L., and Rawat, D., 2018. Drivers of sustainability practices and SMEs: A systematic literature review. European Journal of Sustainable Development, 7(4), pp.531-531

Secundo, G., Del Vecchio, P. and Mele, G., 2020. Social media for entrepreneurship: myth or reality? A structured literature review and a future research agenda. International Journal of Entrepreneurial Behavior & Research.

Morais, F. and Ferreira, J.J., 2020. SME internationalization process: Key issues and contributions, existing gaps, and the future research agenda. European Management Journal, 38(1), pp.62-77.

Pittaway, L. and Cope, J., 2007. Entrepreneurship education: A systematic review of the evidence. International small business journal, 25(5), pp.479-510.

Nolan, C.T. and Garavan, T.N., 2016. Human resource development in SMEs: a systematic review of the literature. International Journal of Management Reviews, 18(1), pp.85-107.

Reed, C.J., 2018. Personal branding mastery for entrepreneurs. Evolve Global Publishing.

Iso-Berg, M., 2015. Entrepreneur’s Identity in Personal Branding-A Study on Building the Brand.

Brems, C., Temmerman, M., Graham, T. and Broersma, M., 2017. Personal branding on Twitter: How employed and freelance journalists stage themselves on social media. Digital journalism, 5(4), pp.443-459.

Raftari, M. and Amiri, B., 2014. An entrepreneurial business model for personal branding: proposing a framework. Journal of Entrepreneurship, Business, and Economics, 2(2), pp.121-139.

Khedher, M., 2014. Personal branding phenomenon. International journal of information, business, and management, 6(2), p.29.

Frequently Asked Questions

How to write a masters level literature review.

To write a master’s level literature review:

  • Define the scope and purpose.
  • Search and select relevant sources.
  • Summarize and analyze each source.
  • Identify trends and gaps.
  • Organise into themes.
  • Critically evaluate sources.
  • Synthesize findings coherently.

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business plan literature review

How to create a business plan for writers

Business plans for writers are valuable documents for setting, tracking and learning from goals and strategies for selling books. Read 9 steps for developing a thorough plan.

  • Post author By Jordan
  • 9 Comments on How to create a business plan for writers

How to create a business plan for writers

The business of writing has as many moving parts as writing craft. This brief guide on how to create a business plan for writers will help you take steps to plan and adhere to SMART writing goals while keeping the business of writing (selling books and marketing your novels or non-fiction) firmly in mind.

What is a business plan for writers?

If you’ve ever watched a reality show about business investment such as the UK show Dragon’s Den (aired as Shark Tank in the US), you’ll know that start-ups that win big backing have one thing in common: a clear plan .

A classic business plan is:

  • A comprehensive document stating future business objectives plus strategies for achieving them
  • A guide to each stage of starting and/or managing a business over a future term used to record goals (and stay on track or rein in scope)
  • A reference document to use towards measuring outcomes (for example, whether or not the goals in the plan were met, the strategies used, and how effective they were)

A good business plan goes hand in hand with other essentials: Knowing your niche, your value, and your target market . Make forming one an integral part of your story planning process .

Standard business plans vs business plans for writers

A business plan for writers differs from the type of plan a start-up would use to pitch investors:

  • If you are an indie author (or hoping to become one), there will be less emphasis on proving your business case (its commercial viability). Your plan won’t need to convince investors to part with their cash in exchange for specific forecast returns (ROI)
  • Your plan will feature aspects that are highly specific to the business of writing (such as book cover design and costs, editing, and other professional writing overheads)

Let’s explore 9 steps for building a business plan for a book or series:

9 steps to create a kickass writing plan for your business:

  • Begin building your platform and audience.
  • Brainstorm business-phase-specific writing goals.
  • Prioritize goals by need, not wish.
  • Create a living writing business plan.
  • Itemize your planned expenses.
  • Calculate what you need to sell to break even.
  • Explore and choose strategies for selling.
  • Create a compelling showcase for your brand.
  • Measure results and adjust as you go.

Begin building your platform and audience

Why does building a platform/audience come first? Because it’s never too early to start connecting with others who may value, enjoy, and be willing to pay to further enjoy your voice.

Ways to build your writing platform:

  • Create an author site that will be home to your future publications. To keep costs down you can use an all-in-one website design and hosting service such as Wix . Keep in mind that using designers and developers provides even more customization potential and design/functionality freedom, but may cost more.
  • Blog about topics relevant to potential readers in your target audience.
  • Create author pages on social media for sharing writing snippets, promo and news.
  • Build a newsletter for your author site and offer giveaways (such as short stories or guides).
  • Host or co-host webinars or lives on social media with other writers.

These are just some ideas.

Indie publishing expert Joanna Penn raises an important platform – building caveat . If you are in the early stages of writing a book, the types of platform available to you (and what is most popular with netizens) may have changed a lot by the time your book is out . (TikTok, for example, now hugely popular, was only started in 2016.)

Penn’s advice is to at least have a simple website with some form of email-gathering function. Email remains an effective way to spread the word about your newest and existing releases.

John Green quote on publishing

Brainstorm business-phase-specific writing goals

The first, proper step of creating a business plan for writers is to brainstorm goals specific to the phase of writing you’re in .

For example, if you’re working on your debut novel and are not yet published (traditionally or independently), your goals will likely look substantially different to a so-called ‘Midlist Author’ (an author who publishes consistently profitable books, but is not yet a publishing sensation landing seven-figure deals).

For midlist to top-tier authors, goals often focus on expansion oriented tasks such as speaking engagements or tapping new audiences by branching out into other genres or subgenres (for example, the way She-Who-Must-Not-Be-Named moved into writing thrillers as Robert Galbraith after her fantasy success). Now Novel writing coach Romy Sommer discusses tailoring strategy to your professional phase in our writing webinar on building a writing career.

Examples of goals specific to the current phase of your professional writing life might be:

  • Finding and hiring a fiction editor for a recently completed draft
  • Shortlisting agents open for queries who are interested in your genre and/or subject matter niche
  • Creating a website that will provide a showcase and selling tool for your future publications

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Prioritize goals by need, not wish

Once you’ve brainstormed a list of specific goals that may be relevant to your writing business plan, it’s time to finesse these down to the most important, SMART goals.

SMART goals are goals that are specific, measurable, attainable, realistic, and time-based.

Prioritize goals by their relevance to tangible objectives. For example, formatting your book for X platform by Y date.

These are more practical than ‘nice to haves’ that have hard-to-predict impact on finances. For example, ‘becoming a bestseller’ – a ‘bestseller’ after all may mean radically different sales numbers in different countries or genres.

Examples of SMART business plan goals for writers

‘Research and write a list of ten agents currently open to queries in my genre/subject matter and start querying next Monday’ is a SMART goal.

It’s relevant to a specific business phase (having a manuscript to publish, in this example, traditionally). It’s attainable, actionable, and time-based .

‘Become a bestselling author’ is not (there are too many variables and moving parts; it lacks specificity). This is not to say that big dreams are invalid or not worth holding! But … they’re the driving, desiring force behind a good business plan, not the main content.

What do you need to do most urgently to get to a point where you have books to sell to an audience that’s dying to read them?

Angela Ackerman, in a helpful article for Jane Friedman’s publishing blog on the first steps in creating a writing business plans, says:

Sometimes desire (wanting to be published right now, for example) can get in the way of what we actually need (to hone our craft further). To be objective, set emotion aside. Ask yourself hard questions about what your career really needs. Angela Ackerman, in ‘The 7-Step Business Plan for Writers’, via Jane Friedman’s blog.

Starting a writing business - Elon Musk on balance and having the right ingredients

Create a living writing business plan

So you’ve prioritized goals for the next six months to a year ahead. You’ve made sure they’re SMART and tailored to where you’re at now. The next step is to create a living business plan for your writing.

Why a ‘living’ plan? There are times in any strategic process such as selling your work where you may want to reflect on how things are going, what’s working, and what isn’t, and regroup.

Begin your plan with a mission statement. Try to keep this to a sentence or two at most. For example:

‘Hire a cover designer, editors and formatting professional for my urban fantasy debut, create author profiles on Goodreads, Amazon and Wattpad, and self-publish my book by next June.’

Create a checklist of action items or ‘jobs to be done’ for your plan, prioritized by urgency. The satisfaction of ticking off checklist items is great motivation.

Itemize your planned expenses

Whether you want to sell enough books in a year’s trade to quit your day job or just see how many copies you can sell if you are systematic, it’s important to tracks costs vs returns.

For example, for a typical 80,000 word genre fiction debut, you might create a table in your business plan that looks something like this:

Cover design and editing are essential if you want your book to stand out, and to do the utmost to win over first-time readers.

As in the table above, you may have expenses such as website hosting and design requiring further research, because there are just so many options. The same goes for turning your manuscript into an audiobook .

The promo spend of $150 above is based on the minimum daily spend for Instagram ads being $5 (assuming, for this example, that you wanted to pay to promote your indie book to a niche reader audience matching your genre on Instagram for 30 days).

The above example of costs is a rough example, of course. You may well find cover designers whose services cost less than a lower- mid-priced professional who has more experience. Ditto for editing (remember the caveat though: ‘You get what you pay for’). Having a good estimate of costs for your business plan (and replacing these with hard figures as quotes come in and you choose which to accept) will help you budget and work out what you need to sell to break even:

Calculate what you need to sell to break even

Going off the above table (which does only include copy-editing, and not a manuscript evaluation , developmental editing or proofreading, and leaves out other costs such as print copies), you would need to sell 2182 digital copies of your book at a promo price of $0.99 to earn back your (known) expenses, or 1086 copies at a launch/promo price of $1.99 per copy ($2160 of known expenses divided by your selling price and rounded up).

Having this figure is vital as it gives you an exact target for sales, as well as an idea of the sweet spot for promo pricing to at least recoup your expenses in the first push.

Will you sell your book cheaply to start for the sake of a lower barrier to entry for potential readers with whom you have not yet proven your entertainment value?

This is a particularly helpful strategy for selling a new series, as you can up your pricing for sequels.

As part of working out selling price and launch strategies, read publishing experts’ blogs and thoughts on the matter. Joanna Penn has a helpful article on the benefits of selling with platform exclusivity versus ‘going wide’ (selling on multiple platforms), for example.

9 steps to a business plan for writers - infographic

Explore and choose strategies for selling

There are many platforms, models and strategies for selling your stories.

Long gone are the days of book chains, indie stores and physical libraries being the main way to find your favorite stories.

The mix of in-store and digital gives you many ways to promote your writing and find an audience that may be hungry for the exact themes, topics, and experiences your work explores.

Some selling strategies to explore and choose from to add to your growing business plan include:

  • Platform-specific promo services (such as KDP Select , Amazon’s promotional program for authors willing to sign over exclusive publishing rights to their platform for 90 days)
  • Book blog tours and giveaways (partnering with writing sites that have blogs to talk about your book – for example, we interview members who have new releases to share here on Now Novel)

If your marketing knowledge and experience is scant, it may be worth taking a book marketing course (remember to add this to the expenses portion of your writing business plan). Coursera is a fantastic resource for university-run short learning courses, and may help you grasp marketing fundamentals or how to use tools for understanding how to convert website visitors into customers/readers.

Create a compelling showcase for your brand

Many artists and writers are allergic to marketing terms such as ‘brand’. They tend to sound clinical, the kind of buzzwords that people throw out a mile a minute at conferences.

Yet branding is a helpful concept to think about as you create your writing business plan.

What is an author’s brand?

If you look at a major brand such as Nike’s advertising, a specific ‘brand persona’ becomes clear. Nike is all about the ‘mentor/coach’ archetype (from their slogan ‘Just Do It’ to their visual choices such as the tick-like swoosh logo), their brand is all about helping the customer reach their own potential.

An author brand differs in several ways (authors don’t have catchphrases or slogans, of course). Yet having a clear author brand can (like Nike) differentiate what is unique and wonderful about your work in a crowded bookshelf or marketplace. From cover design choices to titling, how you represent your work infers a certain tone and persona. In the podcast with Joanna Penn mentioned above, Penn shares that she’s interested in the spooky and how she shares pictures of eerie environs because she knows these appeal to a certain type of reader who would fall within her target audience – that’s a branding decision.

Ways to build showcasing your brand into your writing business plan

  • Plan the language and tone of your newsletter and social media posts. If you write cozy mysteries, for example, what cozy language or mystery can you carry over into what you share?
  • Plan how you’ll incorporate the emotion your writing intends to stir in readers into your visual design language , on your author site and social media. If you write bloodcurdling, violent fantasy, what color, typographical and other design choices will communicate what your writing is all about?
  • Think about what types of promotions you could run that are on-brand . An author who writes ‘choose-your-own-adventure’ books like Goosebumps titles in this format could run a book giveaway contest where readers combine given elements to create their own flash fiction, for example, for a book giveaway.
  • Create a calendar of images, quotes and videos to share that m atch the tone, mood, spirit and/or subjects of your stories.

Measure results and adjust as you go

In any business, it helps to be agile, able to pivot fast to let go of strategies not working or embrace newer methods or platforms that are well-aligned to your goals.

Make your business plan a living document that you review regularly and adjust as needed so that you factor in assessing, learning what worked and what didn’t, and coming back stronger.

Looking for professional fiction editing services or a writing coach to guide you through each stage of writing and querying? Now Novel offers companionship and a supportive network, every step of the way.

Further resources

Rick Lite has a helpful guide for IngramSpark for creating a book promo timeline.

Zara Altair at ProWritingAid provides helpful questions to ask in deciding your book’s value and price .

Are you making regular earnings on your books? What’s the one tip you’d give another writer on going pro? Let us know down below.

Related Posts:

  • 10 useful apps for writers to help you create
  • How to plan a story in scenes: 5 steps
  • What is a plot point? Find and plan clear story events
  • Tags book marketing , writing business , writing process

business plan literature review

Jordan is a writer, editor, community manager and product developer. He received his BA Honours in English Literature and his undergraduate in English Literature and Music from the University of Cape Town.

9 replies on “How to create a business plan for writers”

Extremely helpful! Thank you, Jordan.

Hi Allorianna, thank you! I’m glad you found this helpful. See you in the next webinar 🙂

Jordan! Thanks a million! What a detailed and helpful post! I’ve bookmarked this!

Hi Michi, it’s a pleasure. Thanks for reading this and for sharing your feedback 🙂

Excellent follow-up to the webinar! Great tips. I will be printing out the 9 Steps graphic. Thanks for all your expertise.

Hi Billy, thank you for sharing your feedback – I’m glad you found this a helpful supplement to the webinar. It’s a pleasure, happy writing!

Thanks a lot for your work. Great article. Everything is very clear and understandable.

excellent writing and every thing is understandable

Dear Asif, I’m so pleased you found this useful! Thanks for writing in. All the best with your writing.

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  1. Writing a Successful Business Plan: An Overview

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