BSS018-2: Individual Business Planning Report for New Business

This report assesses the critical success factors in developing a new business idea, leading, establishing, and managing a new business start-up. It focuses on ABC Cleaning Services, a cleaning service company in Manchester, England, and discusses the planning process, how business ideas are crea...Read More

Referral Assessment 2
Individual Business
Planning Report

Table of Contents
Introduction......................................................................................................................................1
Main Body.......................................................................................................................................1
How the process of planning and developing a business plan helps support a new business
venture ........................................................................................................................................1
How business ideas are created and developed...........................................................................3
Evaluation of market opportunities.............................................................................................5
Porter's model for analysis of competition..................................................................................7
Product services differentiators...................................................................................................8
Establishment of credibility and confidence in the ability to lead and manage the business.....8
Effective marketing and sales strategies.....................................................................................9
Conclusion.....................................................................................................................................12
References:.....................................................................................................................................13
Books and Journals...................................................................................................................13

Introduction
Entrepreneurship and leadership are the main essential components of modern business
activities as rapid changes taking place in the business environment has forced the business
owners to take innovative and creative approach to deal with the changing needs of customers.
Entrepreneurship is defined as the act of creation or extraction of value through creating a
business plan meanwhile scaling the business venture to generate profits. Entrepreneurs are the
business owners who have the potential and willingness to take the risk and desire to generate
profit for the survival and growth of business (Yin and et. al., 2020). Entrepreneurs convert the
invention or creative ideas into reality is regarded as innovation which brings improvements or
introduction of new products and services into the market with the aim of meeting the unsatisfied
needs of the customers. It is the leadership qualities, abilities and skills of entrepreneurs which
carved the path for success for a business venture and inspire people to believe in their vision.
ABC limited is cleaning Service Company with a few staff members, equipments and cleaning
supplies; along with transportation facility to provide cleaning and hygiene services to
homeowners, apartments, complexes, commercial building, hotels, hospitals, school and colleges
to keep the premises clean and free from viruses. The objective of the report is to discuss how
the process of planning and developing a business plan support a new business venture, how
business ideas are created and developed along with evaluation of business and market
opportunities through evaluation of environment, competition and product differentiators.
Furthermore, the report also outlines viability of new business ideas through developing effective
marketing and sales strategies, mitigation of risks, and adequate sources for funding and
financials.
Main Body
How the process of planning and developing a business plan helps support a new business
venture
Business planning is essential in two of the cases, if a business owner is planning to extend
its areas of operations or deciding on creating and developing a new business venture (Ahn and
Kim, 2019). It takes place when the business stakeholders come forwards and flesh out the goals
and objective of business, strategies and actions that they are visualising in order to achieve
business growth and success. Business planning usually involves collection of normal ideal into
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business plan along with determining the current state of business, market as well as the brief
details of the steps taken to improve the performance in the coming period. Below mentioned is
the business planning process: Summarise vision: ABC cleaning service limited aims at providing reliable and quality
cleaning and hygiene services to the customers of Manchester, England in all the
residential building, commercial complex and premises of hotel, hospitals school and
colleges. Their aim is to keep the places clean and healthy and keeping the worry of
maids and other cleaning staff away (Cohen, Kaspi-Baruch and Katz, 2019). Develop product and services: Before conducting extensive research and planning, it has
been observed that people are dealing with proper cleaning and maintenance issues and
for which as a solution ABC cleaning services provides all kind of cleaning services and
ensuring that items are cleaned with soft hands without any damage to property. Research the industry: Further step after developing a product and services is to conduct
a detailed research of the market and industry in which the business is going to operate.
Presently, there is low and mild competition into this industry as there is are few player
who offer such personalised cleaning services to the people of Manchester. Analyse the market: One of the best option to define the target market is to conduct
segmentation, targeting and positioning which helps the company in getting better insight
of target market and their unmatched needs. With the help of demographics and
geographic information ABC cleaning service can come to know what actually customer
want, how to reach them and forms as a basis for building effective marketing plan (De
Bernardi and Azucar, 2020). Size up competitors: One of the key elements in forming a business venture is to identify
the potential direct and indirect competitors in the industry. Currently, there are few
companies operating in this sectors and does not provide complete cleaning and hygiene
solutions to the mortar and bricks establishment like ABC cleaning services, thus there is
low competition in the market. Design the company: In order give a legal formation and provide a legal entity to
business firms the options opted is partnership firm where there are two partners agreed
upon some of the desired share of investment, profit and loss, risk and responsibilities of
a company. It is one of the simplest forms to enter into business as the amount of
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investment and risk is diversified and knowledge of another person can be a added value
for the company. ABC cleaning services will visit the clients property and will provide
complete cleaning and maintenance solutions on a daily and weekly basis as per the
demand. The company makes use of disinfectant and other cleaning solutions to remove
germs and make the place hygiene and virus free (Chang and Chen, 2020). Create a marketing strategy: A well defined marketing strategy is concerned with
business plan with the aim of reaching prospective customer and convert them into
potential customer for the products and services of the business firm. Developing a
marketing mix will help ABC cleaning service company in getting know about the type
of product, pricing strategy, methods of promotion and channels of distribution to reach
target audience. Determine financial needs: Financial resources are the life blood for creating,
developing and maintaining a business venture. By keeping the mind lower sales for the
first year and high cost of operating activities, ABC cleaning services is sourcing fund
from banks to keep the business alive until it start to make forecasted sales and generate
desired amount of profit for the survival of business (Jafari-Sadeghi, and et. al., 2020).
 Plan your operations: For getting cleaning solutions, tools, equipments and supporting
items such as gloves, garbage bags, extra mops, water container and spar bottles etc, the
business needs to but these items to support their cleaning activities and acquisition of
manpower and a vehicle to make a movement from one place to another.
How business ideas are created and developed
Before starting a business venture first and foremost thing that comes to mind is an idea
to start up a business and reason for creating a business venture. The best idea determines the
success and failure of business therefore it is essential to have a most reliable and viable business
idea, but this is not enough even good ideas need a grooming before they are being ready to
implement and move to a further stage. Below mentioned six steps idea generation and
development stage will take the new business venture towards success and growth (Bu and
Cuervo‐Cazurra, 2020). Generate some ideas: The ideas begins to emerge out when we thing for a while with a
meaningful conscious and note the ideas that pop up into the mind. At this stage
creativity and ability to think big works to a greater extent and think as much as to create
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most viable and reliable business ideas. Best ideas can be generated spontaneously or can
be come out with a need to provide a solution to a problem. For instance, idea for
opening a cleaning service company cam out with the need to keep the places hygiene
and virus free amidst pandemic. Select the best idea: After listing out best ideas generated on paper, the next step is to
select the best idea that matches as per the market needs, demands and potential of an
entrepreneur to realise those ideas. The best approach is to keep all the ideas on a paper
written down and do not delete it because these ideas would be required in future in case
of business idea fails (Belousova, Hattenberg and Gailly 2020). Refine the idea: The next step followed by the two initial stages is to conduct a proper
research with the aim of modifying the concept as per the requirements. Market research
includes determining customer segment, buying habits of people, economic conditions,
market and industry trends, availability of natural resources, competitors analysis and
determining substitute products. At this stage, if the ideas won't work then wise option is
to select the another idea and work on that. Test the idea: Then, the next step is to conduct preliminary research to identify if there is
potential in the idea that has been developed for opening a business venture through
identifying the interest and need for that idea, product or services developed for the
business venture. While establishing the business ideas to provide cleaning services in
Manchester, ABC cleaning service company has conducted the market research for the
need of services and in turn got good response and appreciation (Radović-Marković,
Brnjas and Simović, 2019).
 Identify the market: After determining the viability of an idea based on test conducted on
sample target market the next step for making an idea more successful is to identify and
determine the potential target audience with their ability and acceptability to pay for such
business product and services. For this, a further extensive and detailed research is also
conducted to know the target audience and behaviour of customer towards the developed
products and services.
Therefore, from the above process it has been analysed that ideas are best generated and
developed based on their viability and reliability to produced desire results. The above process
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helps in selecting the best idea which suits as per the market needs and capabilities of
entrepreneur to work on that idea or concept (Jolley and Pittaway, 2019).
Evaluation of market opportunities
Market opportunities are best identified and determined with the analysis of external and
internal market environment which provides a in depth knowledge of the market and its business
environment in which it is operating. For evaluating best market opportunities companies
conduct PESTLE analysis for the market environment and for analysing of the competition
within industry and its competitors Porter's generic model is the best technique to have a better
insight of the market opportunities. Below mentioned is the PESTELE framework for ABC
cleaning service limited for finding the best possible opportunities and understanding the market.
PESTLE Analysis
`It is an acronym stands for the Political, Economical, social, technological, legal and
environmental which are the six main essential components of understanding the external
environment better (Zeitoun, Nordberg and Homberg, 2019). Political factors: These factors defines the extent to which government intervene into the
business firms, industry and market in which it operates. Theses factors undertakes fiscal
policies, tax regimes and policies, trade tariffs and duties imposed. Government of UK
has taken huge initiative to support small and medium businesses which is backed by the
loan amounts and tax rebates and subsidies. This allows the company to operate in a
market at low cots and less formalities to run its business along with liberal trade polices
and tax benefits. Economical factors: These factors determines the performance level of economy which
encompasses the some of the significant factors such as inflation rate, interest rates,
foreign exchange rates, economic cycle etc. Evidently, currently the UK 's economy is
passing through a phase of recession where banks and governments are infusing money
into economy to give it a boost and contribute towards economic development. ABC
cleaning services gets the the favourable economic conditions to operate in the market
where resources including human capital and financial resources are easily available at
low interest rates (Canestrino and et. al., 2020). Socio-economic factors: These factors plays a significant role in scrutinize the social
environment of the target market and helps in determining the cultural trends,
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demographics, lifestyle, beliefs, attitude, buying habits etc. Amidst Pandemic become
have become conscious about the cleanliness, hygiene and safety of their healthy and
family members. Commercial buildings, hotels, schools, hospitals are looking for a
cleaning and disinfectant services to keep their premises free from virus and makes less
prone of spreading of virus which provides a great opportunity for the wider acceptability
of ABC cleaning services across the region. Technological factors: These factors pertains to the any advancements and innovations
taking place in the industry or market. With the rise in the use of technology have
reduced the number of workers in operations and technology has taken place of to serve
and meet the demands of customer (Isabelle, 2020). There are low sound and light
machines which are more effective in removing dust particles and use of automatic
sanitisers, disinfectant and air purifiers can lead to the decline in the demands of ABC
cleaning services as they make use of manpower and equipments to keep the place
healthy and hygiene. Legal factors: These factors affects the operations of business firm to a greater extent as
there are external laws made by government that vary as per nation to nation and internal
laws which company makes to conduct its business activities in a legal and ethical
manner. While operating in a cleaning service industry it is imperative for the company
to comply with the safety and hygiene standards, safety of consumer property along with
ensuring employees are safe in working environment. Furthermore, government is has
strict and rigid policies to keep the interest of customer safe and act companies in a
responsible manner (Stephens and et. al., 2019).
 Environmental factors: These factors encompasses all such factors which are
determined by the surrounding environment where business operates and some of these
factors are limited to climate, weather, global changes in climate etc. Being a cleaning
service provider ABC company makes a less deteriorating impact over environment as
they are dealing primarily in cleaning and disinfecting the premises of residential
building, commercial properties, complexes etc. However, the transportation used by
them to commute causes air pollution and to mitigate the impact, ABC must makes use of
fuel efficient and electric vehicles to make movement.
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Therefore from the above environmental analysis it has been identified that ABC cleaning
services has huge potential and wide number of opportunities available primarily through social,
political and economical factors. Whereas, growth in technology and changes in laws and
regulations may cause a barrier in their further journey (Hayduk, 2020).
Porter's model for analysis of competition Competition in the industry: ABC cleaning services company faces intense and cut
throat competition in the relevant industry as there are already established firms which
are operating in the market to meet the safety and hygiene ends of customers. Due to high
profits and increase in demand for the cleaning companies amidst pandemic there is high
intensity of competition each one striving to out perform another company. New Entrants into industry: As the cost of entry into market is significantly low and
high potential of profits and growth attracts the new entrants into business with
innovation which can lead to a decline in the business of ABC cleaning services
company. Power of suppliers: In cleaning business the inputs and materials which are required by
ABC are disinfectants, cleaning solutions, air blowers, clothes to wipe and other material
which are easily available and from numerous sources, thus making the power of
suppliers low and helping company in maintaining its cost benefits (Welsh and Kaciak,
2019). Power of buyers: Evidently there are large number of cleaning service provider in UK
such as Casterile, Office pride, FastKclean etc which offers exceptionally good and cost
friendly services. Therefore, the power of buyers is relatively high and ABC cleaning
service company must offer differentiation services or services with extra value added
and benefits to maintain its existence.
 Threat of substitute: This factor takes into account any similar solutions to the problem
provided by the company. As there are no substitute of cleaning and hygiene services in
entire UK which makes it beneficial for the company and provides an edge to stand in the
market and makes adequate profits for its on going survival.
Product services differentiators
From the above analysis it has been observed that ABC cleaning services faces intense
and cut throat competition in the cleaning service industry as there are several key players that
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are existed in the market and offerings cutting edge services to out perform its other rivalry firms
(Brown and Mawson, 2019). In order to maintain its existence and face the competition, services
differentiation strategy will allow company to gain competitive edge and increase its brand
awareness. ABC cleaning services not only provide delicate cleaning services to households,
commercial buildings but also provide them complete solutions for home maintenance and
repairing through well developed mobile application which enable customer to book services at
just one single click.
Establishment of credibility and confidence in the ability to lead and manage the business
It is essential that a leader or a manager must enhance their credibility and confidence
skill which will help them to grow their business well. There are few ways by which the business
owner or a management team of ABC Ltd. can build confidence and credibility ability and these
ways are mentioned below-
 Honest- Being truthful to the subordinates at workplace is one of the best way to create
credibility. Here, the owner of ABC Ltd. can share truthful information to their working
staff related to time hours and salary paid by company to them for their work. This will
help them to develop good reputation in front of their staff and they can establish
credibility also (Harris and Ozdemir, 2020).
 Actively listen- It is good for the owner of ABC Ltd. to listen properly that what their
staff members are saying. Putting only one's point of view and consider that only is not
good for the business. Hence to develop credibility and confidence, the owner must listen
what their teammates are saying and giving chance to everyone to express their point of
view on business decisions is an good activity.
 Get to the point- It is a good habit to communicate with staff properly and having a
positive work environment but it is important for management team or owner of a
business that they must get to the point of the topic so that their staff members will focus
that what exactly the owner wanted to convey. In case ABC Ltd. Owner want to convey
the message then it must be clear and up to the point where the owner must change their
tone and ask their team to listen properly so that the team will aware them self that now
the owner is going to convey some important message. Conveying message clearly and
covers all necessary information will help the owner to develop credibility and
confidence ability in them (Welter, Baker and Wirsching, 2019).
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 Get to know as many people as possible- It is another good point to develop the
networking with other people and get to know about many people because by doing this
the owner can communicate more to their surrounding as well as the owner can identify
the behaviour and learn from their experience about how others can develop their
credibility skills. Communicating more people will help to develop confidence abilities.
In context of ABC Ltd., their owner must attached with many people and grab
opportunities to expand their networking skill so that more people they get to know will
help them to develop more confidence skill.
 Education- It is the main factor which should bring a good level of credibility and
confidence in a manager or a owner. A proper knowledge about the business will help to
develop confidence in all decisions which is taken for the betterment of the company.
Business world is very dynamic (Liu, 2020). Hence, it is essential for ABC Ltd. owner to
update their knowledge up to the present date so that in case they need to take any new
decision in their business then they will take it quickly without delaying because owner
knows every new law and rules. The biggest reason of low confidence is lack of
knowledge due to which many decisions also delayed in businesses. Hence, it is good for
ABC Ltd. To improve proper knowledge about business world and their industry to
develop confidence and credibility abilities.
Effective marketing and sales strategies
Marketing strategy can be best defined as the way to reach out the target audience in a
best possible way whereas sales strategy defines how the company converts prospect customers
into potential customers. An effective marketing strategy sets the path for company in identifying
the prospect customers and ways to keep them engage so as to communicate with them essential
features of products and develop an interest of customers for the products and services
(Mathews, Wessel and Goldsby, 2020). Sales and marketing strategies are essential for each and
every business firm as it defines the customer journey from initial stage awareness to final
purchase decision. Prime objective of marketing strategy is to define how the offerings will be
promoted to the target audience to have a better reach and gain competitive advantage over
others. On the other hand., sales strategy is aimed towards building up an most effective path to
enable the companies to convert interested prospect into successful buyers.
Ways to develop marketing strategy
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 ABC Vision and goals: ABC cleaning service vision is to provide most reliable and
quality services with value added benefits to the customer in a cost effective price with a
intense and good band image in the market. The company has a mission to establish a
strong customer base with a wider reach in local market with complete cleaning and
maintenance solutions (Yin and et. al., 2020). Value proposition: ABC cleaning services makes the services easily accessible though
well developed mobile application which offers solutions for home repair and
maintenance. Positioning: ABC cleaning services has positioned itself as a complete “cleaning and
maintenance services under one roof” as it encompasses broad range of services in a cost
effective price.
 Customer persona: Customer segment of ABC cleaning services includes households,
commercial buildings and complexes of city Manchester who is currently dealing with
the problem of maintaining cleaning and hygiene at home and workplaces.
 Marketing goals: The most essential goal is to create a strong brand awareness and reach
a targeted audience through digital marketing by highlighting the salient features of
services (Ahn and Kim, 2019).
Ways to develop a sales strategy Forecasting: Forecasting in sales strategy to determine the future demand of the services
and makes plans accordingly to allocate the resources and efforts of company. Lead tracking: One of the significant component in sales strategy is to keep the tracks of
the queries generated and conversion of these queries into successful leads through
numerous channels and tools. Discount strategies: ABC cleaning services can offer attractive discounts on bundle
services to existing and new customers with the aim of converting them into loyal
customers.
 Channel support: The medium of communication to keep the customers engaged with
the brand is use of social media and print media so that customers gets to know about the
services and quality of ABC cleaning company (Cohen, Kaspi-Baruch and Katz, 2019) .
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 Customer meetings: Another element is building effective sales strategy is to organise a
customer meetings on regular basis to collect feedbacks and to know more about their
unsatisfied needs and wants.
Funding and Finances
In order to start a new business venture, run and manage daily business operational activities;
financial resources are required. Clear and most adequate ways to acquire financial resources
helps the company in making financial planning and projections.
Sources of finances Bank loan: UK government is offering low interest and secure financial loans to the
small start-ups and business in order to start their business and boost sluggish economy
growth after the impact of pandemic. These loans are easily available and needs less
documentation (De Bernardi and Azucar, 2020). Personal savings: Putting one's own money into business is the most secured and reliable
source of funding which does not required to be paid back and free from the burden of
heavy interest rates for the beginners.
 Anger Investors: Those are wealthiest and experienced working professional who invest
into the business which has huge potential to grow, succeed and generate high rate of
returns. They seek some shares in the business in exchange of their investment amount
and share their expertise with business owners.
Risk Mitigation and Planning
Business environment and economies of a nation encounters several ups and downs that
may lead to the shut down or heavy losses for the business, therefore risk management is a
significant tool which prevents the business from being destroyed and ensure smooth functioning
of business activities. Below mentioned planning and strategies will helps the business in
analysing the risk in advance and take necessary measures to reduce chances of occurring risks
(Chang and Chen, 2020). Identifying the potentials risks along with their origin: Before planning to mitigate risk
it is necessary to determine the types of risks and rank them with largest and smallest
potential effect on business. Some of these risks are physical risks, external risks,
strategic risks, team and technology risks. Identifying and prioritizing the risk helps the
business in preparing contingency plans.
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 Strategies of risk mitigation: Perform detailed assessment of risks: At this stage
potential risks are reviewed by ABC cleaning service company and assign them as per
their level of occurrence such as extremely likely, moderate, less likely etc. develop contingency plan: Further as per the ranking contingency plans are developed in
order to implement those plans in case of any uncertainties. Contingency plans include
Risk mitigation where a detailed strategies are made to minimize the impact and costs of
risks which takes place (Jafari-Sadeghi, and et. al., 2020). Further there is a risk sharing
which is related with diversifying the risk with other third party stakeholders and in last
there is risk acceptance and risk retention which takes into account ability of company to
acknowledge and accept risk as a whole in business.
 Develop implementing and monitoring risks: It is essential for the business firm to
make ongoing assessment of risk exposure and development of contingency plan which
will enable the firm to cover up the cost, keeping operations ongoing and preventing
from unforeseen costs and errors occurred due to contingencies.
Conclusion
From the above report it has been concluded that while deciding to start and operate a
new business venture it is essential for the business owners to make an effective business plan
along with detailed planning process. There are some factors that has be to undertaken in order to
operate and run business successfully such as extensive market research, defining target audience
, sources of finances and risk management process. In order to prevent businesses from failure
and shut down of operation, it is advisable to check on priority basis the viability of business idea
and development of contingency plans to keep business alive and grow.
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References:
Books and Journals
Welter, F., Baker, T. and Wirsching, K., 2019. Three waves and counting: the rising tide of
contextualization in entrepreneurship research. Small Business Economics, 52(2),
pp.319-330.
Ahn, S. and Kim, J., 2019. The effect of managerial characteristics on the performance of
technology-based start-ups in Korea. International Journal of Global Business and
Competitiveness, 14(1), pp.11-23.
Belousova, O., Hattenberg, D.Y. and Gailly, B., 2020. Corporate entrepreneurship: from
structures to mindset. Organizational Mindset of Entrepreneurship; Springer: Cham,
Switzerland, pp.211-233.
Brown, R. and Mawson, S., 2019. Entrepreneurial ecosystems and public policy in action: a
critique of the latest industrial policy blockbuster. Cambridge Journal of Regions,
Economy and Society, 12(3), pp.347-368.
Bu, J. and Cuervo‐Cazurra, A., 2020. Informality costs: Informal entrepreneurship and
innovation in emerging economies. Strategic Entrepreneurship Journal, 14(3), pp.329-
368.
Canestrino, R., and et. al., 2020. Understanding social entrepreneurship: A cultural perspective
in business research. Journal of Business Research, 110, pp.132-143.
Chang, Y.Y. and Chen, M.H., 2020. Creative entrepreneurs’ creativity, opportunity recognition,
and career success: Is resource availability a double-edged sword?. European
Management Journal, 38(5), pp.750-762.
Cohen, H., Kaspi-Baruch, O. and Katz, H., 2019. The social entrepreneur puzzle: the
background, personality and motivation of Israeli social entrepreneurs. Journal of
Social Entrepreneurship, 10(2), pp.211-231.
De Bernardi, P. and Azucar, D., 2020. Innovation and entrepreneurial ecosystems: structure,
boundaries, and dynamics. In innovation in food ecosystems (pp. 73-104). Springer,
Cham.
Harris, P. and Ozdemir, O., 2020. Turkish delight a public affairs study on family business: The
influence of owners in the entrepreneurship orientation of family‐owned
businesses. Journal of Public Affairs, 20(1), p.e2082.
Hayduk, T., 2020. The future for sport entrepreneurship. In Sport entrepreneurship and public
policy (pp. 135-152). Springer, Cham.
Isabelle, D.A., 2020. Gamification of entrepreneurship education. Decision Sciences Journal of
Innovative Education, 18(2), pp.203-223.
Jafari-Sadeghi, V., and et. al., 2020. Internationalisation business processes in an under-
supported policy contexts: evidence from Italian SMEs. Business Process Management
Journal.
Jolley, J. and Pittaway, L., 2019. Entrepreneurial ecosystems and public policy. Journal of
Entrepreneurship and Public Policy.
Liu, Y., 2020. The micro-foundations of global business incubation: Stakeholder engagement
and strategic entrepreneurial partnerships. Technological Forecasting and Social
Change, 161, p.120294.
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Mathews, R.D., Wessel, R. and Goldsby, M., 2020. An examination of the effect of new venture
ideation exercises on entrepreneurial intentions. Entrepreneurship Education and
Pedagogy, p.2515127420951956.
Radović-Marković, M., Brnjas, Z. and Simović, V., 2019. The impact of globalization on
entrepreneurship. Economic Analysis, 52(1), pp.56-68.
Stephens, B., and et. al., 2019. Austin, Boston, Silicon Valley, and New York: Case studies in
the location choices of entrepreneurs in maintaining the Technopolis. Technological
Forecasting and Social Change, 146, pp.267-280.
Welsh, D.H. and Kaciak, E., 2019. Family enrichment and women entrepreneurial success: the
mediating effect of family interference. International Entrepreneurship and
Management Journal, 15(4), pp.1045-1075.
Yin, J., and et. al., 2020. Team leader’s conflict management styles and innovation performance
in entrepreneurial teams. International Journal of Conflict Management.
Zeitoun, H., Nordberg, D. and Homberg, F., 2019. The dark and bright sides of hubris:
Conceptual implications for leadership and governance research. Leadership, 15(6),
pp.647-672.
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