Handling Risk in Business Plan Development: Concepts and Appliance of Simulation Software

Finanz Betrieb, Vol. 8, No. 1, pp. 56-62, 2006

Posted: 22 May 2006

See all articles by Tomasz P. Bednarczyk

Tomasz P. Bednarczyk

European Business School

Stephan Golla

EBS Universität für Wirtschaft und Recht - EBS Business School - Strascheg Institute for Innovation and Entrepreneurship

Heinz Klandt

EBS Universität für Wirtschaft und Recht - EBS Business School - Department of Governance & Economics

Abstract

The paper presents a theoretical and practical oriented approach how to manage uncertain assumptions during the development of business plans. Future planning with uncertain variables requires managing future influence factors in order to determine the potential success. We develop a case study, which illustrates the (dis- and) advantages of a static data gathering. In a second step uncertain assumptions are taken into account. Herewith we show how the information degree of a business plan increases, by referring to various sources of uncertain information.

Keywords: Business Plan, Monte Carlo Simulation, Uncertainty, Risk Management

JEL Classification: M13, C15

Suggested Citation

Bednarczyk, Tomasz Piotr and Golla, Stephan and Klandt, Heinz, Handling Risk in Business Plan Development: Concepts and Appliance of Simulation Software. Finanz Betrieb, Vol. 8, No. 1, pp. 56-62, 2006, Available at SSRN: https://ssrn.com/abstract=902305

Tomasz Piotr Bednarczyk (Contact Author)

European Business School ( email )

International University Schloß Reichartshausen
Oestrich-Winkel, 65375
Germany
+49 (178) 837 777 8 (Phone)
+49 (12120) 202 652 (Fax)

Stephan Golla

EBS Universität für Wirtschaft und Recht - EBS Business School - Strascheg Institute for Innovation and Entrepreneurship ( email )

Gustav-Stresemann-Ring 3
65189 Wiesbaden, Hessen
Germany

Heinz Klandt

EBS Universität für Wirtschaft und Recht - EBS Business School - Department of Governance & Economics ( email )

Gustav-Stresemann-Ring 3
65189 Wiesbaden, Hessen
Germany

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