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Entrepreneurship and PlanningInterview with the founders of 100 companies41% have no business plan at all.26% had just rudimentary type of plan.5% worked up for financial projections.28% wrote up a full blown plan.

Continuation of Mintsberg strategyStrategy making in the entrepreneurial mode is characterized by dramatic leaps forward in the face of uncertainty.Growth is the dominant goal of the entrepreneurial organization. Visionary Leadership Planning faltered, Vision arose.How to distinguish the real vision?True vision is something you can see in your mind's eye.A vision has to distinguish an organization.If it is really a vision, you'll never forget it." Bennis and Namus devote a good deal of attention to visionTo choose a direction, a leader must first have developed a mental image of a possible and desirable future state of the organization.A vision is a target that beckons.By focusing attention on a vision, the leader operates on the emotional and spiritual resources of the organization, on its values, commitment, and aspirations.Studies Conducted at McGill UniversityA paper co-authored by Frances Westley and Henry Mintzberg (1989) contrasted two views of visionary leadership. One, more traditional, is likened to a hypodermic needle. The active ingredient is loaded into a syringe, which is injected into the employees.Drawing from a book on theater by Peter Brook (1968:154), the legendary director of the Royal Shakespeare Company, the authors conceived strategic vision, like drama.Brook argued that, in theater, the magic is the result of endless "rehearsal,(repetition) followed by the "performance(performance) itself, supported by the "attendance(attendance) of the audience. In short Visionary leadership is style and strategy coupled together. It is drama, but not play-acting. Such leadership is born and made, the product of a historical moment. ENTREPRENEURIAL STRATEGY FORMATION IN A SUPERMARKET CHAINCompany: Steinberg's, a Canadian retail chain Two major reorientations of strategy:a move into self-service in the 1930s and one into the shopping center business in the 1950s.CONCEIVING A NEW VISION IN A GARMENT FIRMCompany: CanadelleProduct: Womens UndergarmentsKurt Lewin's (1951) three-stage model of changeunfreezing, changing, and refreezingPremises of Entrepreneurial SchoolStrategy exists in the mind of the leader as perspective. The process of strategy formation is semiconscious. The leader promotes the vision single-mindedly. The organization is likewise malleable,

Contribution, Critique, and Context of the Entrepreneurial SchoolEntrepreneurial School suggests Personalized leadership. In this organizations benefit from sense of direction and integration.Not following Me too Strategy.Deficiency in Entrepreneurial school is that the strategy is formulated by single individual.If too much focuse is given to operations then strategy will be missed out and, viceversaStacey (1992) has pointed to a number of harmful consequences, they are:visions can fix managers too tightly in one direction.Current quests for vision place "a tremendous and unrealistic burden on the 'leader'.One heart attack can literally wipe out the organization's key strategist.