Free Business Critique Examples & Topics

A business critique is an analysis and evaluation of some enterprise. If you need to write it, you should start with learning some essential information about the subject.

For starters, a business plan is a detailed description of all the aspects of your business. It contains SWOT analysis, risk analysis, all the goals, and the ways to achieve them. The business plan covers the financial, marketing, operational details of a company or nonprofit organization. Qualitative business research is also one of its crucial parts.

Any business plan is a way to attract possible investors for your startup and to achieve your goals. After completing each objective, it is necessary to update your journal and set new goals.

Good planning creates the foundation of a startup or international business. So, proper feedback is always necessary. That’s where criticism comes in handy.

Our experts have explained how to write a critique paper about business. We’ve listed what parts of the company’s plan you should evaluate and analyze. Besides, under the article you’re reading now, you’ll find business critique examples.

How to Critique a Business Plan

We hope now you realize the importance of critique for any organization. To write one, you’ll have to conduct a critical evaluation of a business plan. In this section, we’ll learn how to do so.

To do a business plan review, you’ll need to analyze the following:

Is there’s enough organizational and financial capacity to achieve the goals and follow the plan? You can think of the entrepreneurial changes needed. Consider the possible threats and how achievable the goals are.

  • Finances and organization.

Check if the numbers are precise. Are there any miscalculations in the plan? It is crucial that the costs are estimated and not omitted. Besides, there should be a possibility of revenue growth. Were the previously predicted results successful?

  • Value of the products.

Analyze the competition in the market and the target customers. Do they need what the company in question offers? Do these products or services have superiority over the competitors?

  • Techniques and models used.

Evaluate the method and the model used. Are they effective? Can the business benefit from them? Keep in mind that even poor planning might have value. Meanwhile, over-planning might cause harm.

  • Management team.

To analyze the management team, you need to evaluate its capability. Examine if the unit is complete and if it can achieve the goals listed in the plan.

Check out our business plan critique examples below to see how you can evaluate these aspects.

Structure of a Critique

To write a good critique paper about business, you need to learn how to structure it first. Let’s dive into it. For more information about organizing, read our article on how to plan your paper .

Here are the two ways you can organize your essay or research paper:

Structure 1:

  • Introduction . Introduce the case of your business critique analysis and state the points you’re going to write about in your thesis.
  • Body Paragraphs 1-3 . Analyze and evaluate one aspect per section.
  • Conclusion . Write down your essay summary and restate your thesis.

Structure 2:

  • Body Paragraph 1 . Write down a detailed description of the project.
  • Body Paragraph 2-4. Evaluate three aspects of the plan (one aspect per paragraph).

Thanks for reading! Check out the examples of critique papers about business below. There you’ll find out how to use these methods and take a look at writing samples composed by other students.

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How to Critique a Business Plan

  • Small Business
  • Business Planning & Strategy
  • Creating a Business Plan
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How to Write a One-Year Profit Projection Letter

How to write a new business pitch, why is an effective business plan introduction important.

  • How to Write the Perfect Business Plan
  • The Role of Finance in Formulating Business Strategies

Once they have completed a business plan, many entrepreneurs wonder if it is ready to present to potential financing sources. They question whether the plan is as clear as it could be and if they have covered all the important points that investors want to see. They realize that the business plan is their first and perhaps only chance to get the investor’s attention. They want to make it as good as it can possibly be. One approach is to ask experienced business associates to critique the plan and provide suggestions about how it can be improved.

Read the plan through at least twice. Don’t read it with a critical eye the first time. Just try to absorb as much information as you can. The second time through, begin making notes about sections that seem unclear or incomplete.

Think like an investor. As you review the plan, ask yourself whether this business looks like a good investment. Many plans dwell too much on how intriguing the company's technology is and ignore the factor of critical importance to investors: Can we make money? Try to identify aspects of the company’s business model that will allow it to earn higher than average profits. Perhaps it has a labor cost advantage over competitors, for example.

Analyze the benefits of the products or services. The plan should give you a clear idea of the superiority of the company’s products or services compared with those offered by competitors. Make sure you see why the target customers have a compelling need for the company’s products or services. If you don’t, suggest that this section of the plan be strengthened.

Evaluate the management team. Ask yourself whether you believe this team is capable of executing the business strategy outlined in the plan. Does the team look complete? Look for gaps in talent or experience that need to be addressed by bringing additional managers aboard. Determine whether the capabilities of the team match up well with the requirements for success in this industry.

Check the assumptions for the financial projections. Make sure the entrepreneur has provided easy-to-follow logic behind the numbers. You should be able to take the revenue assumptions and duplicate the calculations presented. Entrepreneurs tend to present overly optimistic revenue and profit projections. Look for areas where costs were underestimated or omitted altogether. Determine whether the projected revenue growth, particularly in the first two years, seems realistic.

  • Small Business Administration: Write a Business Plan
  • Check for grammatical and spelling errors. The entrepreneur is so close to the plan document that it is easy for him to overlook common errors in grammar or spelling. Finding a lot of these can be jarring to investors reading the plan and may even cast doubt about the credibility of the statements made in the document.
  • The writing style of the plan is important, not just the content. Make sure the entrepreneur conveyed excitement for the venture and its potential. The plan is partially a sales document. Look for a sense of urgency in the plan—that now is exactly the right time to be entering the market. The opportunity is emerging, and significant.

Brian Hill is the author of four popular business and finance books: "The Making of a Bestseller," "Inside Secrets to Venture Capital," "Attracting Capital from Angels" and his latest book, published in 2013, "The Pocket Small Business Owner's Guide to Business Plans."

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How to Critique a Business Plan

by Katie Jensen

Published on 1 Jan 2021

When he completes his business plan, either for internal use or to present to capital sources, an entrepreneur often wonders whether it is ready or needs more work. He may not be sure his marketing strategies are sound or whether the financial projections he created are realistic. A solution is to have one or more trusted business associates review and critique the plan.

Read the full plan completely through and form an overall impression. Read it a second time, making notes in the margins about concepts that are not clear. Clarity is one of the most important attributes of a good business plan. If the reader doesn't get a clear understanding of why the business will be profitable, for example, she might stop reading. Look for completeness -- whether all the vital sections of a business plan have been addressed. Keep an outline of a well-written business plan nearby and compare the plan you're critiquing to this standard. Mark any spelling or grammatical errors you find.

Decide whether the business opportunity is adequately explained. Evaluate whether the size of the market is large enough to sustain growth and allow the company to achieve profitability. Review the explanation of market need -- why the target customers need or want the company's products or services. Look for compelling, tangible benefits for the customers -- some aspect of the product or service that saves them time or money.

Review the sources of revenues listed in the business model section and decide whether they are fully explained. The business model should show how the company will be profitable. Identify whether there is something special about the company's model that will cause it to exceed the profit margins earned by other companies in the industry.

Evaluate the explanation of competitive advantage. Make sure the business owner shows why his products or services provide benefits that are clearly superior to those of his competitors. Judge whether the competitive advantage is sustainable over time.

Review the company's marketing strategies. The strategies should be specific actions the business owner will take, not general statements of intention. The plan should contain detailed cost estimates for implementing each strategy. Look at the financial projections and decide whether the marketing expenditures are reasonable. Many business owners underestimate the cost of selling the company's products or services.

Scrutinize the management team and staffing section to determine whether the team has the necessary skills and business experience to execute the strategies. Identify gaps in the team that need to be filled. Look at the projected growth in staff and decide whether it is sufficient to perform all the management and operations tasks required to meet the company's revenue and profitability goals.

Review the financial projections and assumptions. Look at whether the revenue growth rates and forecast pre-tax profit rates are reasonable -- aggressive yet attainable. Make sure the plan includes a detailed explanation of how the line items in the revenue forecast were calculated. You should be able to replicate the calculations.

If you have quite a few suggested changes to the plan, let the business owner make them and then offer to do a second critique of the plan. Be sure your critique includes praise for aspects of the plan that are outstanding.

Business model innovation: a review and research agenda

New England Journal of Entrepreneurship

ISSN : 2574-8904

Article publication date: 16 October 2019

Issue publication date: 13 November 2019

The aim of this paper is to review and synthesise the recent advancements in the business model literature and explore how firms approach business model innovation.

Design/methodology/approach

A systematic review of business model innovation literature was carried out by analysing 219 papers published between 2010 and 2016.

Evidence reviewed suggests that rather than taking either an evolutionary process of continuous revision, adaptation and fine-tuning of the existing business model or a revolutionary process of replacing the existing business model, firms can explore alternative business models through experimentation, open and disruptive innovations. It was also found that changing business models encompasses modifying a single element, altering multiple elements simultaneously and/or changing the interactions between elements in four areas of innovation: value proposition, operational value, human capital and financial value.

Research limitations/implications

Although this review highlights the different avenues to business model innovation, the mechanisms by which firms can change their business models and the external factors associated with such change remain unexplored.

Practical implications

The business model innovation framework can be used by practitioners as a “navigation map” to determine where and how to change their existing business models.

Originality/value

Because conflicting approaches exist in the literature on how firms change their business models, the review synthesises these approaches and provides a clear guidance as to the ways through which business model innovation can be undertaken.

  • Business model
  • Value proposition
  • Value creation
  • Value capture

Ramdani, B. , Binsaif, A. and Boukrami, E. (2019), "Business model innovation: a review and research agenda", New England Journal of Entrepreneurship , Vol. 22 No. 2, pp. 89-108. https://doi.org/10.1108/NEJE-06-2019-0030

Emerald Publishing Limited

Copyright © 2019, Boumediene Ramdani, Ahmed Binsaif and Elias Boukrami

Published in New England Journal of Entrepreneurship . Published by Emerald Publishing Limited. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this licence may be seen at http://creativecommons.org/licences/by/4.0/legalcode

1. Introduction

Firms pursue business model innovation by exploring new ways to define value proposition, create and capture value for customers, suppliers and partners ( Gambardella and McGahan, 2010 ; Teece, 2010 ; Bock et al. , 2012 ; Casadesus-Masanell and Zhu, 2013 ). An extensive body of the literature asserts that innovation in business models is of vital importance to firm survival, business performance and as a source of competitive advantage ( Demil and Lecocq, 2010 ; Chesbrough, 2010 ; Amit and Zott, 2012 ; Baden-Fuller and Haefliger, 2013 ; Casadesus-Masanell and Zhu, 2013 ). It is starting to attract a growing attention, given the increasing opportunities for new business models enabled by changing customer expectations, technological advances and deregulation ( Casadesus-Masanell and Llanes, 2011 ; Casadesus-Masanell and Zhu, 2013 ). This is evident from the recent scholarly outputs ( Figure 1 ). Thus, it is essential to comprehend this literature and uncover where alternative business models can be explored.

Conflicting approaches exist in the literature on how firms change their business models. One approach suggests that alternative business models can be explored through an evolutionary process of incremental changes to business model elements (e.g. Demil and Lecocq, 2010 ; Dunford et al. , 2010 ; Amit and Zott, 2012 ; Landau et al. , 2016 ; Velu, 2016 ). The other approach, mainly practice-oriented, advocates that innovative business models can be developed through a revolutionary process by replacing existing business models (e.g. Bock et al. , 2012 ; Iansiti and Lakhani, 2014 ). The fragmentation of prior research is due to the variety of disciplinary and theoretical foundations through which business model innovation is examined. Scholars have drawn on perspectives from entrepreneurship (e.g. George and Bock, 2011 ), information systems (e.g. Al-debei and Avison, 2010 ), innovation management (e.g. Dmitriev et al. , 2014 ), marketing (e.g. Sorescu et al. , 2011 ) and strategy (e.g. Demil and Lecocq, 2010 ). Also, this fragmentation is deepened by focusing on different types of business models in different industries. Studies have explored different types of business models such as digital business models (e.g. Weill and Woerner, 2013 ), service business models (e.g. Kastalli et al. , 2013 ), social business models (e.g. Hlady-Rispal and Servantie, 2016 ) and sustainability-driven business models ( Esslinger, 2011 ). Besides, studies have examined different industries such as airline ( Lange et al. , 2015 ), manufacturing ( Landau et al. , 2016 ), newspaper ( Karimi and Walter, 2016 ), retail ( Brea-Solís et al. , 2015 ) and telemedicine ( Peters et al. , 2015 ).

Since the first comprehensive review of business model literature was carried out by Zott et al. (2011) , several reviews were published recently (as highlighted in Table I ). Our review builds on and extends the extant literature in at least three ways. First, unlike previous reviews that mainly focused on the general construct of “Business Model” ( George and Bock, 2011 ; Zott et al. , 2011 ; Wirtz et al. , 2016 ), our review focuses on uncovering how firms change their existing business model(s) by including terms that reflect business model innovation, namely, value proposition, value creation and value capture. Second, previous reviews do not provide a clear answer as to how firms change their business models. Our review aims to provide a clear guidance on how firms carry out business model innovation by synthesising the different perspectives existing in the literature. Third, compared to recent reviews on business model innovation ( Schneider and Spieth, 2013 ; Spieth et al. , 2014 ), which have touched lightly on some innovation aspects such as streams and motivations of business model innovation research, our review will uncover the innovation areas where alternative business models can be explored. Taking Teece’s (2010) suggestion, “A helpful analytic approach for management is likely to involve systematic deconstruction/unpacking of existing business models, and an evaluation of each element with an idea toward refinement or replacement” (p. 188), this paper aims to develop a theoretical framework of business model innovation.

Our review first explains the scope and the process of the literature review. This is followed by a synthesis of the findings of the review into a theoretical framework of business model innovation. Finally, avenues for future research will be discussed in relation to the approaches, degree and mechanisms of business model innovation.

2. Scope and method of the literature review

Given the diverse body of business models literature, a systematic literature review was carried out to minimise research bias ( Transfield et al. , 2003 ). Compared to the previous business model literature, our review criteria are summarised in Table I . The journal papers considered were published between January 2010 and December 2016. As highlighted in Figure 1 , most contributions in this field have been issued within this period since previous developments in the literature were comprehensively reviewed up to the end of 2009 ( Zott et al. , 2011 ). Using four databases (EBSCO Business Complete, ABI/INFORM, JSTOR and ScienceDirect), we searched peer-reviewed papers with terms such as business model(s), innovation value proposition, value creation and value capture appearing in the title, abstract or subject terms. As a result, 8,642 peer-reviewed papers were obtained.

Studies were included in our review if they specifically address business models and were top-rated according to The UK Association of Business Schools list ( ABS, 2010 ). This rating has been used not only because it takes into account the journal “Impact Factor” as a measure for journal quality, but also uses in conjunction other measures making it one of the most comprehensive journal ratings. By applying these criteria, 1,682 entries were retrieved from 122 journals. By excluding duplications, 831 papers were identified. As Harvard Business Review is not listed among the peer-reviewed journals in any of the chosen databases and was included in the ABS list, we used the earlier criteria and found 112 additional entries. The reviewed papers and their subject fields are highlighted in Table II . Since the focus of this paper is on business model innovation, we selected studies that discuss value proposition, value creation and value capture as sub-themes. This is not only because the definition of business model innovation mentioned earlier spans all three sub-themes, but also because all three sub-themes have been included in recent studies (e.g. Landau et al. , 2016 ; Velu and Jacob, 2014 ). To confirm whether the papers addressed business model innovation, we examined the main body of the papers to ensure they were properly coded and classified. At the end of the process, 219 papers were included in this review. Table III lists the source of our sample.

The authors reviewed the 219 papers using a protocol that included areas of innovation (i.e. components, elements, and activities), theoretical perspectives and key findings. In order to identify the main themes of business model innovation research, all papers were coded in relation to our research focus as to where alternative business models can be explored (i.e. value proposition, value creation and value capture). Coding was cross checked among the authors on a random sample suggesting high accuracy between them. Having compared and discussed the results, the authors were able to identify the main themes.

3. Prior conceptualisations of business model innovation

Some scholars have articulated the need to build the business model innovation on a more solid theoretical ground ( Sosna et al. , 2010 ; George and Bock, 2011 ). Although many studies are not explicitly theory-based, some studies partially used well-established theories such as the resource-based view (e.g. Al-Debei and Avison, 2010 ) and transaction cost economics (e.g. DaSilva and Trkman, 2014 ) to conceptualise business model innovation. Other theories such as activity systems perspective, dynamic capabilities and practice theory have been used to help answer the question of how firms change their existing business models.

Using the activity systems perspective, Zott and Amit (2010) demonstrated how innovative business models can be developed through the design themes that describe the source of value creation (novelty, lock-in, complementarities and efficiency) and design elements that describe the architecture (content, structure and governance). This work, however, overlooks value capture which limits the explanation of the advocated system’s view (holistic). Moreover, Chatterjee (2013) used this perspective to reveal that firms can design innovative business models that translate value capture logic to core objectives, which can be delivered through the activity system.

Dynamic capability perspective frames business model innovation as an initial experiment followed by continuous revision, adaptation and fine-tuning based on trial-and-error learning ( Sosna et al. , 2010 ). Using this perspective, Demil and Lecocq (2010) showed that “dynamic consistency” is a capability that allows firms to sustain their performance while innovating their business models through voluntary and emergent changes. Also, Mezger (2014) conceptualised business model innovation as a distinct dynamic capability. He argued that this capability is the firm’s capacity to sense opportunities, seize them through the development of valuable and unique business models, and accordingly reconfigure the firms’ competences and resources. Using aspects of practice theory, Mason and Spring (2011) looked at business model innovation in the recorded sound industry and found that it can be achieved through various combinations of managerial practices.

Static and transformational approaches have been used to depict business models ( Demil and Lecocq, 2010 ). The former refers to viewing business models as constituting core elements that influence business performance at a particular point in time. This approach offers a snapshot of the business model elements and how they are assembled, which can help in understanding and communicating a business model (e.g. Eyring et al. , 2011 ; Mason and Spring, 2011 ; Yunus et al. , 2010). The latter, however, focuses on innovation and how to address the changes in business models over time (e.g. Sinfield et al. , 2012 ; Girotra and Netessine, 2014 ; Landau et al. , 2016 ). Some researchers have identified the core elements of business models ex ante (e.g. Demil and Lecocq, 2010 ; Wu et al. , 2010 ; Huarng, 2013 ; Dmitriev et al. , 2014 ), while others argued that considering a priori elements can be restrictive (e.g. Casadesus-Masanell and Ricart, 2010 ). Unsurprisingly, some researchers found a middle ground where elements are loosely defined allowing flexibility in depicting business models (e.g. Zott and Amit, 2010 ; Sinfield et al. , 2012 ; Kiron et al. , 2013 ).

Prior to 2010, conceptual frameworks focused on the business model concept in general (e.g. Chesbrough and Rosenbloom, 2002 ; Osterwalder et al. , 2005 ; Shafer et al. , 2005 ) apart from Johnson et al. ’s (2008 ), which is one of the early contributions to business model innovation. To determine whether a change in existing business model is necessary, Johnson et al. (2008) suggested three steps: “Identify an important unmet job a target customer needs done; blueprint a model that can accomplish that job profitably for a price the customer is willing to pay; and carefully implement and evolve the model by testing essential assumptions and adjusting as you learn” ( Eyring et al. , 2011 , p. 90). Although several frameworks have been developed since then, our understanding of business model innovation is still limited due to the static nature of the majority of these frameworks. Some representations ignore the elements and/or activities where alternative business models can be explored (e.g. Sinfield et al. , 2012 ; Chatterjee, 2013 ; Huarng, 2013 ; Morris et al. , 2013 ; Dmitriev et al. , 2014 ; Girotra and Netessine, 2014 ). Other frameworks ignore value proposition (e.g. Zott and Amit, 2010 ), ignore value creation (e.g. Dmitriev et al. , 2014 ; Michel, 2014 ) and/or ignore value capture (e.g. Mason and Spring, 2011 ; Sorescu et al. , 2011 ; Storbacka, 2011 ). Some conceptualisations do not identify who is responsible for the innovation (e.g. Casadesus-Masanell and Ricart, 2010 ; Sinfield et al. , 2012 ; Chatterjee, 2013 ; Kiron et al. , 2013 ). Synthesising the different contributions into a theoretical framework of business model innovation will enable a better understanding of how firms undertake business model innovation.

4. Business model innovation framework

Our framework ( Figure 2 ) integrates all the elements where alternative business models can be explored. This framework does not claim that the listed elements are definitive for high-performing business models, but is an attempt to outline the elements associated with business model innovation. This framework builds on the previous work of Johnson et al. (2008) and Zott and Amit (2010) by signifying the elements associated with business model innovation. Unlike previous frameworks that mainly consider the constituting elements of business models, this framework focuses on areas of innovation where alternative business models can be explored. Moreover, this is not a static view of the constituting elements of a business model, but rather a view enabling firms to explore alternative business models by continually refining these elements. Arrows in the framework indicate the continuous interaction of business model elements. This framework consists of 4 areas of innovation and 16 elements (more details are shown in Table IV ). Each will be discussed below.

4.1 Value proposition

The first area of innovation refers to elements associated with answering the “Why” questions. While most of the previously established models in the literature include at least one of the value proposition elements (e.g. Brea-Solís et al. , 2015 ; Christensen et al. , 2016 ), other frameworks included two elements (e.g. Dahan et al. , 2010 ; Cortimiglia et al. , 2016 ) and three elements (e.g. Eyring et al. , 2011 ; Sinfield et al. , 2012 ). These elements include rethinking what a company sells, exploring new customer needs, acquiring target customers and determining whether the benefits offered are perceived by customers. Modern organisations are highly concerned with innovation relating to value proposition in order to attract and retain a large portion of their customer base ( Al-Debei and Avison, 2010 ). Developing new business models usually starts with articulating a new customer value proposition ( Eyring et al. , 2011 ). According to Sinfield et al. (2012) , firms are encouraged to explore various alternatives of core offering in more depth by examining type of offering (product or service), its features (custom or off-the-shelf), offered benefits (tangible or intangible), brand (generic or branded) and lifetime of the offering (consumable or durable).

In order to exploit the “middle market” in emerging economies, Eyring et al. (2011) suggested that companies need to design new business models that aim to meet unsatisfied needs and evolve these models by continually testing assumptions and making adjustments. To uncover unmet needs, Eyring et al. (2011) suggested answering four questions: what are customers doing with the offering? What alternative offerings consumers buy? What jobs consumers are satisfying poorly? and what consumers are trying to accomplish with existing offerings? Furthermore, Baden-Fuller and Haefliger (2013) made a distinction between customers and users in two-sided platforms, where users search for products online, and customers (firms) place ads to attract users. They also made a distinction between “pre-designed (scale) based offerings” and “project based offerings”. While the former focuses on “one-size-fits-all”, the latter focuses on specific client solving specific problem.

Established firms entering emerging markets should identify unmet needs “the job to be done” rather than extending their geographical base for existing offerings ( Eyring et al. , 2011 ). Because customers in these markets cannot afford the cheapest of the high-end offerings, firms with innovative business models that meet these customers’ needs affordably will have opportunities for growth ( Eyring et al. , 2011 ). Moreover, secondary business model innovation has been advocated by Wu et al. (2010) as a way for latecomer firms to create and capture value from disruptive technologies in emerging markets. This can be achieved through tailoring the original business model to fit price-sensitive mass customers by articulating a value proposition that is attractive for local customers.

4.2 Operational value

The second area of innovation focuses on elements associated with answering the “What” questions. Many of the established frameworks included either one element (e.g. Sinfield et al. , 2012 ; Taran et al. , 2015 ), two elements (e.g. Mason and Spring, 2011 ; Dmitriev et al. , 2014 ). However, very few included three or more elements (e.g. Mehrizi and Lashkarbolouki, 2016 ; Cortimiglia et al. , 2016 ). These elements include configuring key assets and sequencing activities to deliver the value proposition, exposing the various means by which a company reaches out to customers, and establishing links with key partners and suppliers. Focusing on value creation, Zott and Amit (2010) argued that business model innovation can be achieved through reorganising activities to reduce transaction costs. However, Al-Debei and Avison (2010) argued that innovation relating to this dimension can be achieved through resource configuration, which demonstrates a firm’s ability to integrate various assets in a way that delivers its value proposition. Cavalcante et al. (2011) proposed four ways to change business models: business model creation, extension, revision and termination by creating or adding new processes, and changing or terminating existing processes.

Western firms have had difficulty competing in emerging markets due to importing their existing business models with unchanged operating model ( Eyring et al. , 2011 ). Alternative business models can be uncovered when firms explore the different roles they might play in the industry value chain ( Sinfield et al. , 2012 ). Al-Debei and Avison (2010) suggested achieving this through answering questions such as: what is the position of our firm in the value system? and what mode of collaboration (open or close) would we choose to reach out in a business network? Dahan et al. (2010) found cross-sector partnerships as a way to co-create new multi-organisational business models. They argued that multinational enterprises (MNEs) can collaborate with nongovernmental organisations (NGOs) to create products/or services that neither can create on their own. Collaboration allows access to resources that firms would otherwise need to solely develop or purchase ( Yunus et al. , 2010 ). According to Wu et al. (2010) , secondary business model innovation can be achieved when latecomer firms fully utilise strategic partners’ complementary assets to overcome their latecomer disadvantages and build a unique value network specific to emerging economies context.

4.3 Human capital

The third area of innovation refers to elements associated with answering the “Who” questions. Most of the established frameworks in this field tend to focus less on human capital and include one element at most (e.g. Wu et al. , 2010 ; Kohler, 2015 ). However, our framework highlights four elements, which include experimenting with new ways of doing business, tapping into the skills and competencies needed for the new business model through motivating and involving individuals in the innovation process. According to Belenzon and Schankerman (2015) , “the ability to tap into a pool of talent is strongly related to the specific business model chosen by managers” (p. 795). They claimed that managers can strategically influence individuals’ contributions and their impact on project performance.

Organisational learning can be maximised though continuous experimentation and making changes when actions result in failure ( Yunus et al. , 2010 ). Challenging and questioning the existing rules and assumptions and imagining new ways of doing business will help develop new business models. Another essential element of business model design is governance, which refers to who performs the activities ( Zott and Amit, 2010 ). According to Sorescu et al. (2011) , innovation in retail business models can occur as a result of changes in the level of participation by actors engaged in performing the activities. An essential element of retailing governance is the incentive structure or the mechanisms that motivate those involved in carrying out their roles to meet customer demands ( Sorescu et al. , 2011 ). For example, discount retailers tend to establish different compensation and incentive policies ( Brea-Solís et al. , 2015 ). Revising the incentive system can have a major impact on new ventures’ performance by aligning organisational goals at each stage of growth ( Roberge, 2015 ). Zott and Amit (2010) argued that alternative business models can be explored through adopting innovative governance or changing one or more parties that perform any activities. Sinfield et al. (2012) suggested that business model innovation only requires time from a small team over a short period of time to move a company beyond incremental improvements and generate new opportunities for growth. This is supported by Michel’s (2014) finding that cross-functional teams were able to quickly achieve business model innovation in workshops through deriving new ways to capture value.

4.4 Financial value

The final area of innovation focuses on elements associated with answering the “How” questions. Previously developed frameworks tend to prioritise this area of innovation by three elements (e.g. Eyring et al. , 2011 ; Huang et al. , 2013 ), and in one instance four elements (e.g. Yunus et al. , 2010 ). These elements include activities linked with how to capture value through revenue streams, changing the price-setting mechanisms, and assessing the financial viability and profitability of a business. According to Demil and Lecocq (2010) , changes in cost and/or revenue structures are the consequences of both continuous and radical changes. They also argued that costs relate to different activities run by organisations to acquire, integrate, combine or develop resources. Michel (2014) suggested that alternative business models can be explored through: changing the price-setting mechanism, changing the payer, and changing the price carrier. Different innovation forms are associated with each of these categories.

Business model innovation can be achieved through exploring new ways to generate cash flows ( Sorescu et al. , 2011 ), where the organisation has to consider (and potentially change) when the money is collected: prior to the sale, at the point of sale, or after the sale ( Baden-Fuller and Haefliger, 2013 ). Furthermore, Demil and Lecocq (2010) suggested that changes in business models affect margins. This is apparent in the retail business models, which generate more profit through business model innovation compared to other types of innovation ( Sorescu et al. , 2011 ).

5. Ways to change business models

From reviewing the recent developments in the business model literature, alternative business models can be explored through modifying a single business model element, altering multiple elements simultaneously and/or changing the interactions between elements of a business model.

Changing one of the business model elements (i.e. content, structure or governance) is enough to achieve business model innovation ( Amit and Zott, 2012 ). This means that firms can have a new activity system by performing only one new activity. However, Amit and Zott (2012) clearly outlined a systemic view of business models which entails a holistic change. This is evident from Demil and Lecocq’s (2010) work suggesting that the study of business model innovation should not focus on isolated activities since changing a core element will not only impact other elements but also the interactions between these elements.

Another way to change business models is through altering multiple business model elements simultaneously. Kiron et al. (2013) found that companies combining target customers with value chain innovations and changing one or two other elements of their business models tend to profit from their sustainability activities. They also found that firms changing three to four elements of their business models tend to profit more from their sustainability activities compared to those changing only one element. Moreover, Dahan et al. (2010) found that a new business model was developed as a result of MNEs and NGOs collaboration by redefining value proposition, target customers, governance of activities and distribution channels. Companies can explore multiple combinations by listing different business model options they could undertake (desirable, discussable and unthinkable) and evaluate new combinations that would not have been considered otherwise ( Sinfield et al. , 2012 ).

Changing business models is argued to be demanding as it requires a systemic and holistic view ( Amit and Zott, 2012 ) by considering the relationships between core business model elements ( Demil and Lecocq, 2010 ). As mentioned earlier, changing one element will not only impact other elements but also the interactions between these elements. A firm’s resources and competencies, value proposition and organisational system are continuously interacting and this will in turn impact business performance either positively or negatively ( Demil and Lecocq, 2010 ). According to Zott and Amit (2010) , innovative business models can be developed through linking activities in a novel way that generates more value. They argued that alternative business models can be explored by configuring business model design elements (e.g. governance) and connecting them to distinct themes (e.g. novelty). Supporting this, Eyring et al. (2011) suggested that core business model elements need to be integrated in order to create and capture value ( Eyring et al. , 2011 ).

6. Discussion and future research directions

From the above synthesis of the recent development in the literature, several gaps remain unfilled. To advance the literature, possible future research directions will be discussed in relation to approaches, degrees and mechanisms of business model innovation.

6.1 Approaches of business model innovation

Experimentation, open innovation and disruption have been advocated as approaches to business model innovation. Experimentation has been emphasised as a way to exploit opportunities and develop alternative business models before committing additional investments ( McGrath, 2010 ). Several approaches have been developed to assist in business model experimentation including mapping approach, discovery-driven planning and trail-and-error learning ( Chesbrough, 2010 ; McGrath, 2010 ; Sosna et al. , 2010 ; Andries and Debackere, 2013 ). Little is known about the effectiveness of these approaches. It will be worth investigating which elements of the business model innovation framework are more susceptible to experimentation and which elements should be held unchanged. Although business model innovation tends to be characterised with failure ( Christensen et al. , 2016 ), not much has been established on failing business models. It is interesting to explore how firms determine a failing business model and what organisational processes exist (if any) to evaluate and discard these failed business models. Empirical studies could examine which elements of business model innovation framework are associated with failing business models.

Another way to develop alternative business models is through open innovation. Although different categories of open business models have been identified by researchers (e.g. Frankenberger et al. , 2014 ; Taran et al. , 2015 ; Kortmann and Piller, 2016 ), their effectiveness is yet to be established. Further research is needed to examine when can a firm open and/or close element(s) of the business model innovation framework. Future studies could also examine the characteristics of open and/or close business models.

In responding to disruptive business models, how companies extend their existing business model, introduce additional business model(s) and/or replace their existing business model altogether remains underexplored. Future research is needed to unravel the strategies deployed by firms to extend their existing business models as a response to disruptive business models. In introducing additional business models, Markides (2013) suggested that a company will be presented with several options to manage the two businesses at the same time: create a completely separate business unit, integrate the two business models from the beginning or integrate the second business model after a certain period of time. Finding the balance between separation and integration is of vital importance. Further research could identify which of these choices are most common among successful firms introducing additional business models, how is the balance between integration and separation achieved, and which choice(s) prove more profitable. Moreover, very little is known on how firms replace their existing business model. Longitudinal studies could provide insights into how a firm adopts an alternative model and discard the old business model over time. It may also be worth examining the factors associated with the adoption of business model innovation as a response to disruptive business models. Moreover, new developments in digital technologies such as blockchain, Internet of Things and artificial intelligence are disrupting existing business models and providing firms with alternative avenues to create new business models. Thus far, very little is known on digital business models, the nature of their disruption, and how firms create digital business models and make them disruptive. Future research is needed to fill these important gaps in our knowledge.

6.2 Degrees of business model innovation

Business models can be developed through varying degrees of innovation from an evolutionary process of continuous fine-tuning to a revolutionary process of replacing existing business models. Recent research shows that survival of firms is dependent on the degree of their business model innovation ( Velu, 2015, 2016 ). This review classifies these degrees of innovation into modifying a single element, altering multiple elements simultaneously and/or changing the interactions between elements of the business model innovation framework.

In changing a single element, further research is needed to examine which business model element(s) is (are) associated with business model innovation. It is not clear whether firms intentionally make changes to a single element when carrying out business model innovation or stumble at it when experimenting with new ways of doing things. It may also be worth investigating the entry (or starting) points in the innovation process. There is no consensus in the literature on which element do companies start with when carrying out their business model innovation. While some studies suggest starting with the value proposition ( Eyring et al. , 2011 ; Landau et al. , 2016 ), others suggest starting the innovation process with identifying risks in the value chain ( Girotra and Netessine, 2011 ). Dmitriev et al. (2014) suggested two entry points, namely, value proposition and target customers. In commercialising innovations, the former refers to technology-push innovation while the latter refers to market-pull innovation. Also, it is not clear whether the entry point is the same as the single element associated with changing the business model. Further research can explore the different paths to business model innovation by identifying the entry point and subsequent changes needed to achieve business model innovation.

There is little guidance in the literature on how firms change multiple business model elements simultaneously. Landau et al. (2016) claimed that firms entering emerging markets tend to focus on adjusting specific business model components. It is unclear which elements need configuring, combining and/or integrating to achieve a company’s value proposition. Furthermore, the question of which elements can be “bought” on the market or internally “implemented” and their interplay remains unanswered ( DaSilva and Trkman, 2014 ). Casadesus-Masanell and Ricart (2010) argued that “[…] there is (as yet) no agreement as to the distinctive features of superior business models” (p. 196). Further research is needed to explore these distinctive elements of high-performing business models.

In changing the interactions between business model elements, further research is needed to explore how these elements are linked and what interactions’ changes are necessary to achieve business model innovation. Moreover, the question of how firms sequence these elements remains poorly understood. Future research can explore the synergies created over time between these elements. According to Dmitriev et al. (2014) , we need to improve our understanding of the connective mechanisms and dynamics involved in business model development. More work is needed to explore the different modalities of interdependencies among these elements and empirically testing such interdependencies and their effect on business performance ( Sorescu et al. , 2011 ).

It is surprising that the link between business model innovation and organisational performance has rarely been examined. Changing business models has been found to negatively influence business performance even if it is temporary ( McNamara et al. , 2013 ; Visnjic et al. , 2016 ). Contrary to this, evidence show that modifying business models is positively associated with organisational performance ( Cucculelli and Bettinelli, 2015 ). Empirical research is needed to operationalise the various degrees of innovation in business models and examine their link to organisational performance. Longitudinal studies can also be used to explore this association since it may be the case that business model innovation has a negative influence on performance in the short run and that may change subsequently. Moreover, it is not clear whether high-performing firms change their business models or innovation in business models is a result from superior performance ( Sorescu et al. , 2011 ). Further studies are needed to determine the direction of causality. Another link that is worth exploring is business model innovation and social value, which has only been explored in a few studies looking at social business models (e.g. Yunus et al. , 2010 ; Wilson and Post, 2013 ). Further research is needed to examine this link and possibly examine both financial and non-financial business performance.

6.3 Mechanisms of business model innovation

Although we know more about how firms define value proposition, create and capture value ( Landau et al. , 2016 ; Velu and Jacob, 2014 ), what remains as a blind spot is the mechanism of business model innovation. This is due to the fact that much of the literature seems to focus on value creation. To better understand the various mechanisms of business model innovation, future studies must integrate value proposition, value creation and value capture elements. Empirical studies could use the business model innovation framework to examine the various mechanisms of business model innovation. Also, the literature lacks the integration of internal and external perspectives of business model innovation. Very few studies look at the external drivers of business model innovation and the associated internal changes. The external drivers are referred to as “emerging changes”, which are usually beyond manager’s control ( Demil and Lecocq, 2010 ). Inconclusive findings exist as to how firms develop innovative business models in response to changes in the external environment. Future studies could examine the external factors associated with the changes in the business model innovation framework. Active and reactive responses need to be explored not only to understand the external influences, but also what business model changes are necessary for such responses. A better understanding of the mechanisms of business model innovation can be achieved by not only exploring the external drivers, but also linking them to specific internal changes. Although earlier contributions linking studies to established theories such as the resource-based view, transaction cost economics, activity systems perspective, dynamic capabilities and practice theory have proven to be vital in advancing the literature, developing a theory that elaborates on the antecedents, consequences and different facets of business model innovation is still needed ( Sorescu et al. , 2011 ). Theory can be advanced by depicting the mechanisms of business model innovation through the integration of both internal and external perspectives. Also, we call for more empirical work to uncover these mechanisms and provide managers with the necessary insights to carry out business model innovation.

7. Conclusions

The aim of this review was to explore how firms approach business model innovation. The current literature suggests that business model innovation approaches can either be evolutionary or revolutionary. However, the evidence reviewed points to a more complex picture beyond the simple binary approach, in that, firms can explore alternative business models through experimentation, open and disruptive innovations. Moreover, the evidence highlights further complexity to these approaches as we find that they are in fact a spectrum of various degrees of innovation ranging from modifying a single element, altering multiple elements simultaneously, to changing the interactions between elements of the business model innovation framework. This framework was developed as a navigation map for managers and researchers interested in how to change existing business models. It highlights the key areas of innovation, namely, value proposition, operational value, human capital and financial value. Researchers interested in this area can explore and examine the different paths firms can undertake to change their business models. Although this review pinpoints the different avenues for firm to undertake business model innovation, the mechanisms by which firms can change their business models and the external factors associated with such change remain underexplored.

business plan critique paper

The evolution of business model literature (pre-2000 to 2016)

business plan critique paper

Business model innovation framework

Previous reviews of business model literature

Reviewed papers and their subject fields

Source of our sample

Business model innovation areas and elements

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Wilson , F. and Post , J.E. ( 2013 ), “ Business models for people, planet (& profits): exploring the phenomena of social business, a market-based approach to social value creation ”, Small Business Economics , Vol. 40 No. 3 , pp. 715 - 737 .

Wirtz , B.W. , Pistoia , A. , Ullrich , S. and Göttel , V. ( 2016 ), “ Business models: origin, development and future research perspectives ”, Long Range Planning , Vol. 49 No. 1 , pp. 36 - 54 .

Wu , X. , Ma , R. and Shi , Y. ( 2010 ), “ How do latecomer firms capture value from disruptive technologies? A secondary business-model innovation perspective ”, IEEE Transactions on Engineering Management , Vol. 57 No. 1 , pp. 51 - 62 .

Yunus , M. , Moingeon , B. and Lehmann-Ortega , L. ( 2010 ), “ Building social business models: lessons from the grameen experience ”, Long Range Planning , Vol. 43 Nos 2-3 , pp. 308 - 325 .

Zott , C. and Amit , R. ( 2010 ), “ Business model design: an activity system perspective ”, Long Range Planning , Vol. 43 Nos 2-3 , pp. 216 - 226 .

Zott , C. , Amit , R. and Massa , L. ( 2011 ), “ The business model: recent developments and future research ”, Journal of Management , Vol. 37 No. 4 , pp. 1019 - 1042 .

Further reading

Weill , P. , Malone , T.W. and Apel , T.G. ( 2011 ), “ The business models investors prefer ”, MIT Sloan Management Review , Vol. 52 No. 4 , pp. 17 - 19 .

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How to Write a Critique Paper: Format, Tips, & Critique Essay Examples

A critique paper is an academic writing genre that summarizes and gives a critical evaluation of a concept or work. Or, to put it simply, it is no more than a summary and a critical analysis of a specific issue. This type of writing aims to evaluate the impact of the given work or concept in its field.

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Want to learn more? Continue reading this article written by Custom-writing experts! It contains:

  • best tips on how to critique an article or a literary work,
  • a critique paper example with introduction, body, and conclusion.

💁 What Is a Critique Paper?

  • 👣 Critical Writing Steps

👀 Critical Essay Types

📝 critique paper format, 📑 critique paper outline, 🔗 references.

A critique is a particular academic writing genre that requires you to carefully study, summarize, and critically analyze a study or a concept. In other words, it is nothing more than a critical analysis. That is all you are doing when writing a critical essay: trying to understand the work and present an evaluation. Critical essays can be either positive or negative, as the work deserves.

👣 How to Write a Critique Essay: Main Steps

Starting critique essays is the most challenging part. You are supposed to substantiate your opinion with quotes and paraphrases, avoiding retelling the entire text. A critical analysis aims to find out whether an article or another piece of writing is compelling. First, you need to formulate the author’s thesis: what was the literary work supposed to convey? Then, explore the text on how this main idea was elaborated. Finally, draft your critique according to the structure given below.

Critical Writing Steps Include: Critical Reading, Analyzing the Text, and Making the Draft.

Step 1: Critical Reading

1.1. Attentively read the literary work. While reading, make notes and underline the essentials.

  • Try to come into the author’s world and think why they wrote such a piece.
  • Point out which literary devices are successful. Some research in literary theory may be required.
  • Find out what you dislike about the text, i.e., controversies, gaps, inconsistency, or incompleteness.

1.2. Find or formulate the author’s thesis. 

  • What is the principal argument? In an article, it can be found in the first paragraph.
  • In a literary work, formulate one of the principal themes, as the thesis is not explicit.
  • If you write a critique of painting, find out what feelings, emotions, or ideas, the artist attempted to project.

1.3. Make a summary or synopsis of the analyzed text. 

  • One paragraph will suffice. You can use it in your critique essay, if necessary.
  • The point is to explore the gist.

Step 2: Analyzing the Text

After the reading phase, ask yourself the following questions :

  • What was your emotional response to the text? Which techniques, images, or ideas made you feel so?
  • Find out the author’s background. Which experiences made them raise such a thesis? What other significant works have they written that demonstrate the general direction of thought of this person?
  • Are the concepts used correctly in the text? Are the references reliable, and do they sufficiently substantiate the author’s opinion?

Step 3: Drafting the Essay

Finally, it is time to draft your essay. First of all, you’ll need to write a brief overview of the text you’re analyzing. Then, formulate a thesis statement – one sentence that will contain your opinion of the work under scrutiny. After that, make a one-paragraph summary of the text.

You can use this simple template for the draft version of your analysis. Another thing that can help you at this step is a summary creator to make the creative process more efficient.

Critique Paper Template

  • Start with an introductory phrase about the domain of the work in question.
  • Tell which work you are going to analyze, its author, and year of publication.
  • Specify the principal argument of the work under study.
  • In the third sentence, clearly state your thesis.
  • Here you can insert the summary you wrote before.
  • This is the only place where you can use it. No summary can be written in the main body!
  • Use one paragraph for every separate analyzed aspect of the text (style, organization, fairness/bias, etc.).
  • Each paragraph should confirm your thesis (e.g., whether the text is effective or ineffective).
  • Each paragraph shall start with a topic sentence, followed by evidence, and concluded with a statement referring to the thesis.
  • Provide a final judgment on the effectiveness of the piece of writing.
  • Summarize your main points and restate the thesis, indicating that everything you said above confirms it.

You can evaluate the chosen work or concept in several ways. Pick the one you feel more comfortable with from the following:

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  • Descriptive critical essays examine texts or other works. Their primary focus is usually on certain features of a work, and it is common to compare and contrast the subject of your analysis to a classic example of the genre to which it belongs.
  • Evaluative critical essays provide an estimate of the value of the work. Was it as good as you expected based on the recommendations, or do you feel your time would have been better spent on something else?
  • Interpretive essays provide your readers with answers that relate to the meaning of the work in question. To do this, you must select a method of determining the meaning, read/watch/observe your analysis subject using this method, and put forth an argument.

There are also different types of critiques. The University of North Carolina-Chapel Hill, in the article “ Writing critiques ,” discusses them as well as the appropriate critique language.

Critique Paper Topics

  • Critique of the article Is Google Making Us Stupid? by Nicholas Carr .
  • Interpret the symbolism of Edgar Alan Poe’s The Black Cat .
  • Examine the topicality of the article Impact of Racial/Ethnic Differences on Child Mental Health Care .
  • Critical essay on Alice Walker’s short story Everyday Use .
  • Discuss the value of the essay The Hanging by George Orwell .
  • A critique on the article Stocks Versus Bonds : Explaining the Equity Risk Premium .
  • Explore the themes Tennessee Williams reveals in The Glass Menagerie.
  • Analyze the relevance of the article Leadership Characteristics and Digital Transformation .
  • Critical evaluation of Jonathan Harvey’s play Beautiful Thing .
  • Analyze and critique Derek Raymond’s story He Died with His Eyes Open .
  • Discuss the techniques author uses to present the problem of choice in The Plague .
  • Examine and evaluate the research article Using Evidence-Based Practice to Prevent Ventilator-Associated Pneumonia .
  • Explore the scientific value of the article Our Future: A Lancet Commission on Adolescent Health and Wellbeing .
  • Describe the ideas E. Hemingway put into his A Clean, Well-Lighted Place .
  • Analyze the literary qualities of Always Running La Vida Loca: Gang Days in L. A .
  • Critical writing on The Incarnation of Power by Wright Mills .
  • Explain the strengths and shortcomings of Tim Kreider’s article The Busy Trap .
  • Critical response to Woolf’s novel Mrs. Dalloway .
  • Examine the main idea of Richard Godbeer’s book Escaping Salem .
  • The strong and weak points of the article The Confusion of Tongues by William G. Bellshaw .
  • Critical review of Gulliver’s Travels .
  • Analyze the stylistic devices Anthony Lewis uses in Gideon’s Trumpet.
  • Examine the techniques Elie Wiesel uses to show relationship transformation in the book Night .
  • Critique of the play Fences by August Wilson .
  • The role of exposition in Achebe’s novel Things Fall Apart.
  • The main themes John Maxwell discusses in his book Disgrace .
  • Critical evaluation of Ray Bradbury’s Fahrenheit 451 .
  • The ideas and concept of the book The Vegetarian Imperative .
  • Different points of view on one historical figure in the book Two Lives of Charlemagne .

Since the APA critique paper format is one of the most common, let’s discuss it in more detail. Check out the information below to learn more:

The APA Manual recommends using the following fonts:

  • 11-point Calibri,
  • 11-point Arial,
  • 10-point Lucida Sans Unicode,
  • 12-point Times New Roman,
  • 11-point Georgia,
  • 10-point Computer Modern.

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Add 1-inch margins on all sides.

📌 Page numbers

Page numbers should appear at the top right-hand corner, starting with the title page.

📌 Line spacing

The entire document, including the title page and reference list, should be double-spaced.

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📌 Title page

The title page should include the following information:

  • page number 1 in the top right-hand corner of the page header,
  • paper title,
  • the student’s name,
  • the name of the department and the college or university,
  • course number and name,
  • the instructor’s name,
  • due date (the date format used in your country).

📌 Critique paper title

The title of your critique paper should be no more than 12 words. In addition, it should be centered and typed in bold using title case.

📌 In-text citations

For the in-text citation, provide the author’s last name and publication year in brackets. If you are using direct citation, add the page number after the year.

📌 References

The last page of your paper should include a list of all sources cited in your essay. Here’s a general format of book and journal article citations you should use:

Book: Last name, First initial. Middle initial. (Year). Book title: Subtitle . Publisher.

Journal article: Last name, First initial. Middle initial. (Year). Title of the article. Journal Title, volume (issue number), start page–end page.

The main parts of good critical response essays are:

  • Introduction. The introduction is the most essential part of the critical response. It should be concise and include the author and title of the work being analyzed, its main idea, and a strong thesis statement.
  • Summary. This should be brief and to the point. Only the author’s/creator’s main ideas and arguments should be included.
  • Analysis/interpretation. Discuss what the author’s/creator’s primary goal was and determine whether this goal was reached successfully. Use the evidence you have gathered to argue whether or not the author/creator achieved was adequately convincing (remember there should be no personal bias in this discussion).
  • Evaluation/response. At this point, your readers are ready to learn your objective response to the work. It should be professional yet entertaining to read. Do not hesitate to use strong language. You can say that the work you analyzed was weak and poorly-structured if that is the case, but keep in mind that you have to have evidence to back up your claim.
  • Conclusion. The last paragraph of your work should restate the thesis statement, summarize the key points, and create a sense of closure for the readers.

Critique Paper Introduction

The introduction is setting the stage for your analysis. Here are some tips to follow when working on it:

  • Provide the reader with a brief synopsis of the main points of the work you are critiquing .
  • State your general opinion of the work , using it as your thesis statement. The ideal situation is that you identify and use a controversial thesis.
  • Remember that you will uncover a lot of necessary information about the work you are critiquing. You mustn’t make use of all of it, providing the reader with information that is unnecessary in your critique. If you are writing about Shakespeare, you don’t have to waste your or your reader’s time going through all of his works.

Critique Paper Body

The body of the critique contains the supporting paragraphs. This is where you will provide the facts that prove your main idea and support your thesis. Follow the tips below when writing the body of your critique.

  • Every paragraph must focus on a precise concept from the paper under your scrutiny , and your job is to include arguments to support or disprove that concept. Concrete evidence is required.
  • A critical essay is written in the third-person and ensures the reader is presented with an objective analysis.
  • Discuss whether the author was able to achieve their goals and adequately get their point across.
  • It is important not to confuse facts and opinions . An opinion is a personal thought and requires confirmation, whereas a fact is supported by reliable data and requires no further proof. Do not back up one idea with another one.
  • Remember that your purpose is to provide the reader with an understanding of a particular piece of literature or other work from your perspective. Be as specific as possible.

Critique Paper Conclusion

Finally, you will need to write a conclusion for your critique. The conclusion reasserts your overall general opinion of the ideas presented in the text and ensures there is no doubt in the reader’s mind about what you believe and why. Follow these tips when writing your conclusion:

  • Summarize the analysis you provided in the body of the critique.
  • Summarize the primary reasons why you made your analysis .
  • Where appropriate, provide recommendations on how the work you critiqued can be improved.

For more details on how to write a critique, check out the great critique analysis template provided by Thompson Rivers University.

If you want more information on essay writing in general, look at the Secrets of Essay Writing .

Example of Critique Paper with Introduction, Body, and Conclusion

Check out this critical response example to “The Last Inch” by James Aldridge to show how everything works in practice: 

Introduction 

In his story “The Last Inch,” James Aldridge addresses the issue of the relationship between parents and children. The author captured the young boy’s coming into maturity coinciding with a challenging trial. He also demonstrated how the twelve-year-old boy obtained his father’s character traits. Aldridge’s prose is both brutal and poetic, expressing his characters’ genuine emotions and the sad truths of their situations.

Body: Summary 

The story is about Ben Ensley, an unemployed professional pilot, who decides to capture underwater shots for money. He travels to Shark Bay with his son, Davy. Ben is severely injured after being attacked by a shark while photographing. His last hope of survival is to fly back to the little African hamlet from where they took off.

Body: Analysis 

The story effectively uses the themes of survival and fatherhood and has an intriguing and captivating plot. In addition, Ben’s metamorphosis from a failing pilot to a determined survivor is effectively presented. His bond with his son, Davy, adds depth and emotional importance to the story. At the same time, the background information about Ben’s past and his life before the shark attack could be more effectively integrated into the main story rather than being presented as separate blocks of text.

Body: Evaluation 

I find “The Last Inch” by James Aldridge a very engaging and emotional story since it highlights the idea of a father’s unconditional love and determination in the face of adversity. I was also impressed by the vivid descriptions and strong character development of the father and son.

Conclusion 

“The Last Inch” by James Aldridge is an engaging and emotional narrative that will appeal to readers of all ages. It is a story of strength, dedication, and the unbreakable link between father and son. Though some backstory could be integrated more smoothly, “The Last Inch” impresses with its emotional punch. It leaves the readers touched by the raw power of fatherly love and human will.

📚 Critique Essay Examples

With all of the information and tips provided above, your way will become clearer when you have a solid example of a critique essay.

Below is a critical response to The Yellow Wallpaper by Charlotte Perkins Gilman.

When speaking of feminist literature that is prominent and manages to touch on incredibly controversial issues, The Yellow Wallpaper is the first book that comes to mind. Written from a first-person perspective, magnifying the effect of the narrative, the short story by Charlotte Perkins Gilman introduces the reader to the problem of the physical and mental health of the women of the 19th century. However, the message that is intended to concern feminist ideas is rather subtle. Written in the form of several diary entries, the novel offers a mysterious plot, and at the same time, shockingly realistic details.

What really stands out about the novel is the fact that the reader is never really sure how much of the story takes place in reality and how much of it happens in the psychotic mind of the protagonist. In addition, the novel contains a plethora of description that contributes to the strain and enhances the correlation between the atmosphere and the protagonist’s fears: “The color is repellent, almost revolting; a smoldering unclean yellow, strangely faded by the slow-turning sunlight” (Gilman).

Despite Gilman’s obvious intent to make the novel a feminist story with a dash of thriller thrown in, the result is instead a thriller with a dash of feminism, as Allen (2009) explains. However, there is no doubt that the novel is a renowned classic. Offering a perfect portrayal of the 19th-century stereotypes, it is a treasure that is certainly worth the read.

If you need another critique essay example, take a look at our sample on “ The Importance of Being Earnest ” by Oscar Wilde.

And here are some more critique paper examples for you check out:

  • A Good Man Is Hard to Find: Critique Paper
  • Critique on “The Yellow Wallpaper” by Charlotte Perkins Gilman
  • “When the Five Rights Go Wrong” Article Critique
  • Homer’s Iliad and Odyssey — Comparison & Critique
  • “The TrueBlue Study”: Qualitative Article Critique
  • Ethical Conflict Associated With Managed Care: Views of Nurse Practitioners’: Article Critique
  • Benefits and Disadvantages of Prone Positioning in Severe Acute Respiratory Distress: Article Critique
  • Reducing Stress in Student Nurses: Article Critique
  • Management of Change and Professional Safety – Article Critique
  • “Views of Young People Towards Physical Activity”: Article Critique

Seeing an example of a critique is so helpful. You can find many other examples of a critique paper at the University of Minnesota and John Hopkins University. Plus, you can check out this video for a great explanation of how to write a critique.

  • Critical Analysis
  • Writing an Article Critique
  • The Critique Essay
  • Critique Essay
  • Writing a Critique
  • Writing A Book Critique
  • Media Critique
  • Tips for an Effective Creative Writing Critique
  • How to Write an Article Critique
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45 Critique Examples

critique examples and definition, explained below

A critique is an in-depth analysis and evaluation of a work, idea, or event. Critical evaluation is considered a higher-order thinking skill necessary for logical reasoning and development of new ideas.

Critique not only includes critical evaluation of content, but also an assessment of the structure, style, and effectiveness of a work or idea in achieving its purpose.

The importance of critique lies in its capacity to challenge assumptions, illuminate underlying ideologies, and promote critical thinking.

We need critical thinking skills in order to make sound judgments, develop well-formed opinions, and enhance our understanding of our world.

As such, critique is a valuable tool for academic, artistic, and professional contexts, driving innovation, improvement, and progress.

Critique Examples

1. assessing relevance.

Relevance is all about whether the point being made is valuable for the broader discussion or debate.

For example, bringing up stars in an astrology discussion is relevant; discussing the price of fish at the supermarket, on the other hand, is completely irrelevant to an astrology discussion!

In a critique, it is essential to evaluate whether the presented arguments and statements are pertinent to the core theme or purpose.If the content is irrelevant, it detracts from the main message, undermining the overall credibility and effectiveness of the work.

Assessing Relevance Example : The lecture on marine biology seemed out of place at a conference primarily focused on space exploration and astrophysics.

2. Evaluating Accuracy

Evaluating accuracy involves scrutinizing the factual correctness and reliability of the information or arguments presented in a work or idea.

Meticulous fact-checking is central to this evaluation process, ensuring that the claims made are based on accurate information.

Inaccurate or misrepresented facts can compromise the integrity of the work, and undermine its value to its audience or stakeholders. So, evaluating accuracy is a fundamental task in critique, contributing to the credibility and trustworthiness of the work.

Evaluating Accuracy Example : During the review of a book on World War II history, discrepancies were found between the dates mentioned in the book and the accepted historical timeline, bringing into question the book’s accuracy.

chris

3. Analyzing Structure

Analyzing structure refers to the process of examining the arrangement or plan of a work or idea. This is common, for example, in the critical analysis of art and fashion.

This process could involve looking at how the various elements are organized and interlinked to form a coherent whole.

There are different conventions about what a well-structured work or idea looks like, depending on the discipline. For example, in fashion, it may have to do with how the clothing accentuates body features, whereas in non-fiction, it might be able how well a text presents logically ordered elements that enable easier understanding and following of the topic.

Analyzing Structure Example: In a film critique, the reviewer noted how the narrative structure, with flashbacks interspersed at strategic points, amplified the emotional impact and depth of the story.

4. Considering Originality

Originality refers to the creativity, novelty, or freshness brought to a work or an idea.

For a critique, weighing originality involves exploring whether the work or idea offers new perspectives, unique themes, or innovative methods. Or, in contrast, does the work simply repeat tired old tropes ?

The level of originality can greatly enhance the value of a work or idea by stimulating thought, provoking discussion, or advancing knowledge.

In many fields, such as art, literature, and academia, originality is a highly sought characteristic since it identifies works or ideas that break from convention and inspire progress.

Originality Example: In a critique of a music album, it was noted that the artiste successfully incorporated a blend of traditional folk and modern electronic music in their compositions, enhancing the album’s originality.

5. Questioning Sources

Questioning sources involves scrutinizing the origin and credibility of the evidence supporting a work or an idea.

Sources provide the foundation for arguments and assertions in a work, and their reliability and relevance are crucial for validity.

In a critique, evaluating sources helps ascertain the accuracy and integrity of the work, ensuring the information is well-founded and correctly attributed.

This is particularly important in academic and journalistic works wherein the veracity and reliability of sources significantly affect the overall validity and strength of the work.

Questioning Sources Example: During the peer-review of a scientific paper, one reviewer questioned the credibility of a non-peer reviewed website that the author had used extensively to support their arguments.

6. Examining Clarity

Examining clarity refers to checking the transparency, simplicity, and comprehensibility of a work or an idea.

Clarity ensures that the message or argument is effectively communicated to and understood by the audience. It helps avoid misunderstandings and misinterpretations.

In a critique, clarity examination entails assessing the work’s language, terminology, and style, evaluating whether these elements facilitate understanding.

A work displaying a high degree of clarity allows its audience to comprehend and engage with its content with relative ease.

Examining Clarity Example: The reviewer of a mystery novel observed that the author’s clear and concise writing style made the complex plot twists and clues easy to follow throughout the story.

7. Appraising Depth

Appraising depth is the examination of how profound a work or an idea is. In other words, has this person said something of meaning, or only scraped the surface of the concept?

A deep and thorough treatment of the subject matter suggests nuanced understanding, and often adds value to the work or idea.

I often tell my students that to achieve depth in essays, they need to consider the level of detail, context, compare-and-contrast, and insight they have provided. Furthermore, they might want to consider various perspectives related to the topic, not just one.

Appraising Depth Example: Upon analyzing an analysis of economic policy, it was recognized that the author’s in-depth exploration of varying socioeconomic impacts showed their deep understanding and research into the subject matter.

8. Reviewing Consistency

Reviewing consistency entails checking for the uniformity and reliability of the arguments, facts, and tone within a work or an idea.

Consistency is important because it lends credibility and cohesiveness to a work or idea. It shows that the author has a clear understanding and thoughtful execution of their topic or theme.

In a critique, consistency is assessed by observing the steadiness of the work’s arguments, use of evidence, and tone. Any inconsistencies detract from the overall quality and reliability of the work.

Reviewing Consistency Example : In a politician’s speech critique, it was noted that their stance concerning environmental policies remained consistent, maintaining the same core arguments throughout each policy discussion, lending strength to their overall position.

9. Assessing Feasibility

When we assess feasibility, we’re assessing whether something is really practical or viable. Quite simply, we’re asking: “will this actually work?”

Assessing feasibility can include exploring aspects such as financial considerations, available resources, and time factors.

This method is particularly useful for the critique of a proposal, business plan, or research project. A feasible work or idea has a much higher chance of achieving its intended outcome, making it more reliable and, in the case of business, attractive to stakeholders such as investors.

Exploring Feasibility Example: The critique of an ambitious development plan included an assessment of its feasibility. Given the budget constraints and tight timeframe, the plan was determined to be unrealistic in its current form.

10. Scrutinizing Aesthetic Appeal

Scrutinizing aesthetic appeal involves assessing the visual or sensory attractiveness of a work or idea.

This is significant especially in fields such as art, design, and literature where aesthetic attractiveness can greatly enhance the appeal and appreciation of the work.

In a critique, this might involve reviewing elements such as color, composition, style, form, and intricacy to determine how well they harmonize to create an appealing visual or sensory output.

Scrutinizing Aesthetic Appeal Example: In a review of a new architectural structure, the critic lauded the creative blending of traditional and modern design elements, which added to the aesthetic appeal of the building.

11. Measuring Efficiency

Measuring efficiency relates to the examination of how optimally resources were utilized.

In a critique, efficiency measurement can relate to various elements including workflow, process design, time allocation, use of labor, or use of technology, among other things. A highly efficient operation minimizes waste, reduces costs, and maximizes results.

Measuring Efficiency Example : In a critique of a production process, it was observed that by adopting automation, the company significantly improved its efficiency, allowing it to produce more units in less time.

12. Gauging Effectiveness

Gauging effectiveness is about determining the success of a work or an idea in achieving its intended purpose or objective.

This requires an examination of the outcomes, results, or impact of the work or idea relative to its stated goals.

In a critique, this will often require a summative assessment of performance measures. An advertising campaign, for example, may require a poll or consumer survey to get the results of how effective it was in increasing brand awareness.

Gauging Effectiveness Example: A critique of an educational program looked at student test scores, classroom engagement, and teacher feedback to gauge how effectively the program was in improving student learning outcomes.

13. Investigating Methodology

Investigating methodology refers to the critical examination of the strategies, techniques, or procedures employed in the formulation of a work or an idea. This is particularly common in academic critique.

For example, this means examining the soundness and relevancy of the chosen methods in achieving the objective or producing the required results. Why did the person choose qualitative over quantitative methods? Was that a good idea, or did they miss an opportunity in this choice? Did they defend their choice sufficiently?

A well-chosen and properly executed methodology supports the conclusions and enhances the integrity and trustworthiness of a work or idea.

Investigating Methodology Example: In a critique of a psychological study, the peer-review process involved questioning the appropriateness of the chosen experimental design and statistical analysis techniques, thus investigating the research methodology.

14. Probing Author Bias

Probing author bias deals with uncovering and examining the unstated beliefs, values, or principles of the author which influence their claims.

Take, for example, a media critique, where you realize that the person writing a newspaper article has an underlying self-interest in what they’re saying. For example, someone who writes an article denying climate change may also have a lot of shares in a coal company, so they’ve got self-interest and bias inherent in their writing.

Probing Bias Example: In a critique of an economic policy proposal, the critic highlighted the underlying assumption that economic growth always leads to improved social welfare, provoking a deeper debate on the correlation between growth and welfare.

15. Judging Coherence

Judging coherence involves assessing how well the different parts of a work or an idea logically fit together to form a meaningful whole.

Coherence is vital in ensuring that a work or idea makes sense to the audience and that the overall message or argument is clear and consistent.

In a critique, examining coherence may include looking at how arguments are structured, how information is sequenced, and how concepts relate to each other.

A highly coherent work or idea effectively communicates its message or purpose, making it easy for its audience to understand and follow.

Judging Coherence Example : While critiquing an academic essay, the evaluator noted high coherence since the arguments were logically ordered, well connected, and systematically built up to support the overall thesis.

Other Techniques for Critique

Media Critique

  • Evaluating cultural sensitivity.
  • Analyzing representation and inclusivity.
  • Examining bias and objectivity.
  • Considering emotional resonance.
  • Assessing narrative flow.
  • Investigating technical proficiency (e.g., in films: cinematography, editing).
  • Evaluating character development and depth.
  • Probing thematic depth and complexity.
  • Gauging audience reception and feedback.
  • Analyzing historical context and accuracy.

Academic Critique

  • Evaluating research methodology .
  • Assessing the adequacy of literature review.
  • Analyzing the validity of conclusions.
  • Inspecting the rigor of data analysis.
  • Questioning the reliability of the instruments used.
  • Investigating potential conflicts of interest.
  • Examining the relevance and recency of cited sources.
  • Gauging the scope and limitations of the study.
  • Evaluating the theoretical framework and its application.
  • Assessing the generalizability of the findings to broader populations.

Business Critique

  • Analyzing financial viability and profitability.
  • Evaluating the effectiveness of marketing strategies.
  • Assessing organizational structure and hierarchy.
  • Investigating ethical business practices.
  • Gauging scalability and growth potential.
  • Reviewing talent acquisition and retention strategies.
  • Examining stakeholder and shareholder relations.
  • Scrutinizing supply chain and operational efficiencies.
  • Evaluating product or service innovation and differentiation.
  • Analyzing competitive positioning and market share.

The Difference Between Critique and Criticism

Critique is a good-faith evaluation of a range of factors, positive and negative, to provide constructive feedback on a topic. Criticism is a fully negative evaluation that’s often interpreted as an attack in bad faith.

  • Critique is generally viewed as a detailed, analytical assessment aimed at understanding and improving a work or idea. This process usually involves constructive feedback, evaluating the strengths and the weaknesses while offering enlightening perspectives for enhancement. Sometimes, we call it ‘ constructive criticism ‘.
  • Criticism often bears a negative connotation, focusing mainly on pointing out faults and shortcomings, often without providing considerable insight for improvement or recognizing the positive aspects of the work or idea.

The act of critique is a powerful tool that adds depth to our understanding and interpretation of works or ideas. The multilayered aspects of critique, ranging from analyzing the structure to questioning underlying assumptions, work together to provide a holistic evaluation. It allows us to identify strengths, expose weaknesses, and ultimately discover ways to improve. Therefore, honing critique skills is critical for intellectual growth, creativity, and progression in numerous fields of study and professional arenas.

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Chris Drew (PhD)

Dr. Chris Drew is the founder of the Helpful Professor. He holds a PhD in education and has published over 20 articles in scholarly journals. He is the former editor of the Journal of Learning Development in Higher Education. [Image Descriptor: Photo of Chris]

  • Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 5 Top Tips for Succeeding at University
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Why Some Companies Grow Amid Uncertainty — and Others Don’t

  • Simon Freakley
  • David Garfield

business plan critique paper

A survey of 3,000 global executives suggests that it’s not strategic thinking that sets them apart. It’s their inclination to move quickly.

When you cannot base strategy on reasonably certain premises — or when those reasonable premises are undone by unforeseeable events — what is a company to do? You still have to make plans, allocate capital, and invest for the future. Some argue that agility is the key to thriving in disruptive times, but if all you do is pivot, you are just going around in circles. The annual AlixPartners Disruption Index surveys 3,000 global executives about what is knocking them sideways. Among other things, it shows that three out of five say that it is increasingly challenging to know which disruptive forces to prioritize. Amid all this, there is a group of companies doing very well: about one in five said their companies lead their industry in revenue growth. In this article, the authors dig into that 2024 data to find out what sets these companies apart, and what other companies can learn from them about setting growth strategy in an uncertain world.

Strategic planning plays a key role in helping companies anticipate and manage business cycles. But forces like emerging digital technologies, climate change, and deglobalization — not to mention “black swan” events like the Covid-19 pandemic and wars — have turned a rolling sea into a choppy one, where companies are beset by currents, crosscurrents, riptides, and squalls. This multiplicity of related, unrelated, and inter-related difficulties have one thing in common: They are unpredictable.

  • SF Simon Freakley is the Chief Executive Officer of AlixPartners, a post he has held since 2015. He is based in New York.
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Strategic Management and Planning Literature Critique

Introduction.

This paper seeks to discuss about strategic planning based on the statement of Richard Whittington who said that almost 10 years ago, the average book on strategic planning (management) is pretty cheap, so how come if the secrets of strategic management are so cheaply and easily available, many organizations fail to develop successful strategies? Is there something wrong with the literature or maybe even the concept itself (Clegg et. al 2005).

Analysis and Discussion

What is strategic planning.

Gale, (2006) defined strategic management as the process of defining the purpose of the pursuits of the organization and the methods for achieving them. It was Robert Grant who emphasized there is competition in business that provides the rationale for strategy hence strategy must be winning the said contest or game. The inter-dependence of therefore of competitors play an important role on what strategy will be adopted by the players thus it is logical to view that indeed the actions of individual competitors and teams of competitors are determinative of outcome for other players or companies in the industry (Gale, 2006).

Playing therefore a game requires some skills as it could be left to chance. This makes business them different from pure game of chance as there is better chance if one player has a skill. But the correctness of applicability of the skills played and their knowledge of the rules of the game would really be material if winning is an objective of the players. Gale (2006) emphasized the need for the companies to have strategic focus if these companies intend to survive and flourish in the long term.”

Strategic management involves strategy formulation or development and strategy implementation or deployment. As such success in the first does not necessarily result in the success to the second but success in first is requirement for the success in the second. The development part of the model is about the creation and establishment of the company’s overall mission and vision and the means to achieve them creation and establishment of an organization’s overall mission and vision and the means to achieve them. It is under this stage also that the internal and external assessment is made in terms of company strengths and weaknesses and industry opportunities and threats. This also include an assignment of who will do the strategies, tactics and actions plans (Gale, 2006)

After the plans or strategies are formulated, the same would be followed by implementation or deployment where the plans are put into action and result. It is therefore the execution stage in all levels of the organization. This normally includes measurement and feedback as way on monitoring on whether what is being implemented is done and whether modifications are necessary.

Is there something wrong with the literature on strategic planning?

This researcher believes that there is nothing wrong with the literature on strategic planning on matters where strategies formulated are supposed to be implemented but there were many aspects that were overlooked. Gale (2006) provided several reasons why strategic planning failed. If one traces the history of strategic planning in the 60’s and 70’s, one would notice that strategic planning was viewed as the best way to ensure productivity and profits.

The 1980 however saw the disappointment of some executives who began to feel the return on their investment in the development of large strategic planning departments as the increase in computer technology and globalization of industries caused increased complexity in those industries, and the strategic models of the 1960’s and 1970’s were n not responsive to the dynamics of the market place (Gale, 2006).

Planning departments were found decreasing during 1980s and 1990s as strategic planning was replaced in the minds of executives with the thoughts of improving quality and productivity through operational innovation. The most prominent of these approaches included total quality management (TQM) and the Quality philosophies of authors then like Deming. Reengineering and downsizing as a means to attain operational activities came into being as promoted by Hammer and Champy in the Process Reengineering. The latter was accepted by many as strategies to increase productivity (Gale, 2006)..

Strategic planning came back to life in the 1990s but this time it is used more on growth through mergers and acquisitions, joint ventures, innovation through decentralized strategic efforts within the company, emergent strategy and leveraging core competencies to create strategic intent.

To say there is something wrong with the literature on strategic planning is not borne by evidence. Their uses have been there under different names over the years.

Is the concept of strategic planning wrong itself?

Although it was explained that it could not be literature on strategic planning that was wrong but there are factors to account for failure, this section does not necessarily prejudice the analysis as attacking the concept of strategic planning itself has different arguments to assert said proposition.

The argument that would support the idea that strategic planning was not needed is found in some success stories of companies which essentially the side that strategic planning is not needed or its concept has no application to reality indeed.

Corporate Strategy: Management Guide (2000) however cited that were other scholars have long contended that business is too complex to allow rational and deliberative a process – and that real- world companies don’t operate like that anyway. The paper argued that while middle managers decide which initiatives to push, sales people decide which customers to focus on. In noting that some strategic moves work, while others don’t and thus the company modifies its strategy accordingly. This latter act of modification of strategy was called by McGill University professor Henry Mintzberg as emergent strategy (Corporate Strategy: Management Guide, 2000).

If the concept of emergent strategy is to be sustained there seems to be good reason to believe that what really matters in this model strategy making is not analysis and wise decision making at the top (being equated with strategic planning) but creating the right conditions for effective experimentation and learning such as opening up the process to those “new voices” and tapping into entrepreneurial energy that can be found in any organization.

A continual probing and testing would be more important than what was really thought at the start at the top (Corporate Strategy: Management Guide, 2000). This is on the premise that this strategic plan may actually become obsolete overnight because of the dynamic market place. It is therefore argued that what is really happening is testing whatever hypothesis will actually work in reality (Corporate Strategy: Management Guide, 2000).

It is also argued that what is right to one company is a question of what will happen in the future. Corporate Strategy: Management Guide, (2000) cited the fact that strategic theorists make bold statements, as if their prescriptions are appropriate for every era. This is also the seeming explanation why consultants want to garner all the clients they can, yet the more fruitful approach may be to begin with the company’s unique situation, then assess the relative importance of industry position, internal capabilities and fit between them.

There are also classic mysteries when it comes to strategy. Corporate Strategy: Management Guide (2000) explained cited a statement that strategy is clear only in retrospect. As proof two stories that have provoked the most disagreement on the use of strategic planning is being made part this paper.

These are the cases of The Railroad and Honda. In the case of The Railroad, Professor Theodore Levitt of Harvard Business School published a “manifesto” in 1960 about a topic he called “Marketing Myopia,” where he pointed out that companies often commit the strategic error of defining market too narrowly. He cited the case of railroad executives who had led their companies into decline because they thought of themselves in the railroad business, not the transportation business. Railroad is not just about the raid road trains and tracks but about any that move people (Corporate Strategy: Management Guide, 2000).

When a company does this narrow view, it is actually limiting itself to the potentials of its business by thinking only of its own distinctive competencies. A flexible organization which can build on whatever strengths they can make use are the one who will survive. This sound almost similar to what Charles Darwin has said it is not the strongest of our species that survives nor the most intelligent but those most adaptable to (“Some Timely Evolutionary Quotes”, n.d.).

In the case of Honda what happened was Honda had tried to introduce motorcycles as those done by British and American competitors in the US but had failed miserably. By discovering its strategy by accident, Honda subsequently introduces a small, user-friendly motorcycle on to a U.S. market dominated by big bikes and black-leather-jacket image. After the successful introduction, it slowly moves up-market, elbowing aside once-powerful British and American manufacturers. Honda’s emergent strategy was not considered a brilliant conceived and executed strategy (Mintzberg, et al.,1996). Rather it was a strategy by accident and the Boston Consulting Group reported that Honda’s case became the basis for widely used business-school cases (Corporate Strategy: Management Guide, 2000).

As proof of its emergent strategy, Honda had to create a market and a distribution system from scratch, which it actually did so mostly by trial and error (Corporate Strategy: Management Guide, 2000). To say therefore that strategic planning takes a considerable explanation to overcome the story of Honda.

Although it appears that there are cases that are the product of accident it does not mean that business entities would opt not to plan. This researcher therefore honestly believes that there is nothing wrong with the concept of strategic planning itself. The concept has basis in logic and in principle and some companies have in fact benefited from it. The fact that a few arise by accident and some strategic plans failed does not mean that the concept is wrong. To simplify the argument, the original composer and singer of a song may execute the song by singing it well. The fact however that the same song is not beautifully sung by another person does not mean that original song is wrong. There are many reasons to prove the cause the faulty singing of the song is not in the song but in the singer.

Having proven that there in nothing wrong with the concept and literature that could be supported with evidence, the assertion of this paper would be strengthened by knowing some specific reason or explanations of failure of strategic planning in the next section.

Why Did Traditional Strategic Management/Strategic Planning Fail?

Henry Mintzberg attributed the ultimate failure of strategic planning models of the 1960s and 1970s to the failure to distinguish between strategic planning and strategic thinking. He argued that traditional strategic planning models got heavily oriented to quantitative analysis, the result of which directed the executive towards what strategy should be taken. The effect was actually to subvert strategic thinking that involves the synthesis on one’s experience, intuition and creativity, in addition to analysis. There was therefore failure to do strategic thinking first before strategic planning (Gale, 2006). It was not the literature that was wrong. It was the user who misinterpreted the literature.

Mintzberg also found that the traditional planning failed to include in the planning process those who had to implement the strategic plan. Since strategic planning was done at the very top of the organization, or by expert consultants, the result was just to have strategic plan handed down to managers in bound, published documents. This caused therefore managers to become less committal as it failed to take into account the actual business challenges these managers faced on a day-to-day basis (Gale, 2006). Again, there was a misused by the people who had to implement strategic plan.

Mintzberg also blamed some fundamental flaws like the fallacies of prediction, of detachment and of formalization as explained and each is explained below.

Under the fallacy of prediction, traditional strategic planning was based on the assumption that one could measure all the variables that were relevant to the future of a business, analyze the result, and construct strategies based upon the results that, if followed, would ensure future success. This fallacy overlooks unforeseen economic, industry, social, and market shifts, thus this fallacy of prediction inevitably leads to the downfall of traditional strategic planning as what was planned could not longer be delivered because of change condition. (Gale, 2006). It may be observed that the existence of the policy of prediction presupposes the existence of assumptions that proved to be incomplete.

Under the fallacy of detachment , t raditional strategic planning assumed that it was better to detached from the workers and from middle managers when analyzing data, in order to prevent bias in the planning process. This simply separated the strategy makers from the strategy implementers, which turned out to be a fatal mistake as there is a need for collaboration between the two (Gale, 2006).

Under the fallacy of formalization, some executives wrongly believes that formal systems are superior to human systems in the terms of information processing and decision making. Mintzberg explains that while formal systems can process larger amounts of data than humans can, only human can integrate, synthesize or create new directions from such analysis (Gale, 2006).

Other explanations

Miller offered another perspective as to why strategies often fail. In his land mark study, Miller name the result of his findings, Icarus Paradox (Miller, 1990), after the tragic failure from Greek mythology where Icarus’ father named Daedalus and who was an inventor, was asked to build a labyrinth for King Minos. This resulted to King Minos not allow Daedalus to leave after the latter’s completion of the task thus causing Daedalus to escape.

Daedalus and his son Icarus built wings for themselves by adhering the wings of birds onto long boards with wax. Having experienced fascination in flying using invention, Icarus was warned only to fly only at a moderate height, thus the escape was indeed a success but along the way Icarus had ignored the advice of his father not to fly too high because of the confidence gained in his ability to fly. Icarus’ have grown more daring, causing him to ultimately flew too high to get too close to the sun, hence the heat from the sun just caused the wax to melt that resulted to foiled escape (Gale, 2006). The lesson of story was that it was to too much or uncontrolled use of skill and technology which led him to freedom and ultimately his death (Gale, 2006) and such could happen to corporations’ management.

Miller discovered the reality of this Icarus paradox his research that the victories and strengths of companies can often be the cause of their failure, which he delineated into four major causes of strategic failure while an organization is experiencing successfully in its strategic initiatives. These are the leadership traps, monolithic cultures and skills, power and politics, and structural memories (Gale, 2006).

As to leadership traps, Miller came to know that steady success tend to strengthen leaders’ world views and ties them rigidly to the strategies and processes that brought about past successes. This in turn produces over confidence, prone to excess and neglect and even being prone to shape strategies based on their preferences rather than what data changing business circumstances. By becoming conceited leader succumbed to the adulation given upon them by the press, subordinates, shareholders and other admirers that eventually caused them to be isolated from the reality of the market place (Gale, 2006).

As to monolithic cultures sand skills, organizations were found by Miller to be tending to rely on “star” departments and the culture that builds up around them thereby causing certain imbalance (Mintzberg, 1994). Thus as one department takes the center state and other business functions are seen as less important, and perhaps even unimportant, to the success of the organization (Gale, 2006) organizational cultures in successful companies tend to become monolithic, intolerant and focused on a single goal or very limited goals over time. By giving more power to star departments, the later use there increased power to play politics and hence gaining more resources and success but would result to an imbalance organization that eventually cause the failure of the organization.

Another plausible explanation for failure is the role of disruptive technologies. In relation to this, Christensen (1997) discussed the case of Innovator’s Dilemma where he found that even when companies do follow sound management practices they still are exposed to events and problems that can cause strategic failure. He argued that good management involves sustaining the success of products and processes, and the companies are generally good at this, yet the possibility of being blind sided is there by the emergence of disruptive technologies. What caused successfully companies to miss seeing the threat of disruptive technologies is their being essentially caught in the routine of maintaining their current success.

It can be concluded that based on the foregoing analysis, there is nothing wrong with the literature of strategic planning. The problem is neither in the concept too. It is the people who misunderstood the concept and related literature that mainly caused of the failure of strategic planning on the part of the companies. The fact the strategic planning has evolved (Crittenden and Crittenden, 2000; Stollar, et. al, 2006) over the years from 1950s when its theme was budgeting planning and control to this present century under its theme of strategic and organizational innovation is a proof that strategic planning is necessary in business.

The fact also that accidents could happen sometimes does not mean the accidents become the general guides for business. This paper therefore concludes that the concept of strategic planning is not wrong but there was only a limitation of the user on now to interpret the same. Although a strategy may be called emergent does not mean that it is not longer strategic. The basis of strategic planning was never fixed conditions. So that when conditions changes strategies must lend some flexibility likewise although not necessarily at the top but the tactical or operation level which are within the purview of strategic decisions. This is the reason why strategic plans are broad plans and if ever the market reacts differently does not mean that plan was wrong. Strategic plans can change in the process (Porter, 1985; Porter, 1998).

Several reasons for failure of strategic plan were cited which means that the concept and literature are valid. To synthesize it could be said that emerging organizations failed to understand either or both their complementary competencies and synergies (Iii and Daly, 2007; Dull, et. al, 1995; Kaounides, 1999) as against the areas that are not complementary and synergistic, it is not the fault of strategic planning but on the people who should benefit from it. Knowing strategic planning is not limited to knowing its definitions, there may critical issues that must be evaluated along the way and strategic plans are just guide to make the best choice. Making therefore the wrong choice is not necessarily the fault of strategic planning.

References:

“ Some Timely Evolutionary Quotes ”. (n.d.). Web.

Christensen (1997), The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail. Cambridge, Boston, Massachusetts: Harvard Business School Press.

Clegg, S., et al. (2005) Managing and Organisations: An Introduction to theory and practice, Sage, London.

Corporate Strategy: Management Guide (2000) Harvard Management Update, Article Reprint No. UOOO1A.

Crittenden and Crittenden (2000) Relationships between Organizational Characteristics and Strategic Planning Processes in Nonprofit Organizations; Journal of Managerial Issues, Vol. 12.

Dull, et. al (1995) Partners; The McKinsey Quarterly.

Gale (2006) STRATEGIC PLANNING FAILURE . Web.

Iii and Daly (2007) Alternative Knowledge Strategies, Competitive Environment, and Organizational Performance in Small Manufacturing Firms; Entrepreneurship: Theory and Practice, Vol. 31.

Kaounides (1999) Science, Technology, and Global Competitive Advantage: The Strategic Implications of Emerging Technologies for Corporations and Nations; International Studies of Management & Organization, Vol. 29.

Levitt, T. (1960) “Marketing Myopia”, Harvard Business Review.

Miller (1990) The Icarus Paradox : How Exceptional Companies Bring About Their Own Downfall. New York: HarperCollins.

Mintzberg (1994), “The Fall and Rise of Strategic Planning” Harvard Business Review .  107–114.

Mintzberg, et al. (1996) The ‘Honda Effect’ Revisited, “ California Management Review , vol 38, no. 4.

Porter (1985) Competitive Advantage. New York: The Free Press.

Porter (1998) Competitive Strategy: Techniques for Analyzing Industries and Competitors. New York: The Free Press, A Division of McMillen, Inc.

Stollar, et. al (2006) Collaborative Strategic Planning as Illustration of the Principles of Systems Change; School Psychology Review, Vol. 35.

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Sample Essay on: Business Plan Critique

Essay / research paper abstract.

This 6 page paper provides an outline of a business plan as part of a critique of one submitted. Bibliography lists 1 source.

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6 pages (~225 words per page)

File: D0_KThobble.doc

Unformatted sample text from the term paper:

comprehensive, comprehensible and professionally presented will save frustration and heartache later in the process. The business plan is meant for two audiences: the person planning the business and the potential investors. The owner to be will find that they learn a great deal about themselves, the business world and the business they are proposing in the process of writing a business plan. In looking over the business plan provided, the primary aspect that needs to be addressed is form. Generally, a business plan follows a very specific format, beginning with a title page that may or may not include the table of contents. Many people think that the title page looks more professional without the table of contents, in which case it follows the title page with the inclusion of the company heading. Think of the business plan as a resume for your business, only instead of employment you are looking for financing. What you want to do, first off, is to impress the potential investor. This is done by appearance. Never, NEVER, misspell words and always have some-one else read the plan before you submit it so that errors in grammar can be identified and changed as well as spelling. Use quality paper and printing facilities - it sounds a bit silly but it makes a difference on how the investors approach the request. So, the Title page will have the name of your business situated prominently, in bold type and in capitals: HOBBLE CREEK. (a suggestion? because you are looking at a retail venture, include the store name: HOBBLE CREEK FLY FISHING EMPORIUM). Go with a 14 point font or larger - just so it looks balanced on the page. Above the ...

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Direct File officially opens in 12 pilot states following positive early reviews; eligible taxpayers can file online directly with the IRS for free

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Taxpayers encouraged to try innovative new option before April 15 deadline

IR-2024-68, March 12, 2024

WASHINGTON — The Internal Revenue Service announced today the full-scale launch of the innovative Direct File pilot and encouraged eligible taxpayers in 12 states to try the new service to file their tax returns online for free directly with the IRS.

The pilot effort has been in testing mode for several weeks, allowing early users to file their 2023 federal tax returns online for free and directly with the IRS. Thousands of taxpayers have successfully used the system, and early users are giving the new option positive reviews.

Following the initial Direct File success, the IRS is moving the pilot out of the test phase, allowing all eligible taxpayers in the 12 states – representing 19 million taxpayers – to use the system at any time. Taxpayers can log in to Direct File to start their return and complete it any time before the April filing deadline.

“The early results from Direct File have shown taxpayers like the ease and convenience of the tool, and moving into the full-scale launch of the pilot will give more taxpayers the chance to use this free option,” said IRS Commissioner Danny Werfel. “Expanding Direct File as the tax deadline approaches will provide more taxpayers a way to file directly with the IRS for free, and it will give us more valuable information to assess this pilot. For those who haven’t filed their taxes in these 12 states, we encourage them to visit IRS.gov and see if Direct File is the right option for them.”

Direct File is one of many options that taxpayers have to file their taxes, including tax software and tax professionals. For the pilot, the IRS worked on a streamlined way for people with simpler tax situations to file directly with the agency.

“A team of experts from across government built and tested the Direct File pilot to give taxpayers an easy, accurate free way to file their taxes online directly with the IRS,” Werfel added. “Our goal with the Direct File pilot is to help people meet their tax obligations as easily and quickly as possible. We developed Direct File from the beginning with taxpayers’ help, and we’ll continue to talk to taxpayers about their experience to learn more about what taxpayers want for future digital services.”

Direct File walks the taxpayer through the complexities of the nation’s tax code to complete their filing easily with an accurate calculation of their refund or tax owed. Direct File is designed to be easy for taxpayers to use. At every step, it shows the work behind the calculations, so users can be confident that the tax return is complete and accurate. Once taxpayers start their return on the Direct File site, they can pause and then securely sign in to finish any time before the April filing deadline.

Users can also get support from special IRS customer service representatives through Direct File’s live chat feature. Direct File, like other electronic filing options, allows taxpayers to typically get their refund in less than 21 days when the direct deposit is chosen.

“We’ve gotten great initial feedback from the thousands of taxpayers who used it during testing,” Werfel said. “Many taxpayers we’ve heard from filed their taxes in less than 30 minutes using Direct File and praised it as an easy, no cost tax filing experience.”

Who’s eligible?

Taxpayers in 12 pilot states who meet certain requirements can use Direct File through the April tax deadline. Pilot states include:

  • Massachusetts
  • New Hampshire
  • South Dakota
  • Washington State

After completing their federal returns, taxpayers in the states with a state-income tax – Arizona, California, Massachusetts and New York -- will be guided to a state-sponsored tool to complete their state tax return.

The IRS designed the pilot to follow the best practices for launching a new technology platform by starting small, making sure it works and then building from there. The pilot is purposefully limited to cover relatively straightforward tax situations.

The Direct File pilot is an option for taxpayers who fall into these categories:

  • Report income earned from jobs that generate a Form W-2; including taxpayers with more than one job with W-2 wages;
  • Claim Earned Income Tax Credit, Child Tax Credit and the Credit for Other Dependents;
  • Claim the standard deduction and deductions for educator expenses and student loan interest;
  • Lived in the same state for the entire calendar year 2023.

Interested taxpayers can go to directfile.irs.gov , where they can determine if they are eligible. Using Direct File requires identity verification through ID.me. Once their identity is verified and they’ve signed in securely to Direct File, they will be providing the tax information directly to the IRS, not a third party.

For taxpayers who visit Direct File but aren’t eligible for the pilot, they will be directed to Free File on IRS.gov . Now in its 22nd filing season, taxpayers across the nation can access free software products provided by IRS Free File trusted partners. Through this public-private partnership, tax preparation and filing software providers make their online products available to eligible taxpayers. Eight private-sector Free File partners provide online guided tax software products this year to any taxpayer with an Adjusted Gross Income (AGI) of $79,000 or less in 2023. Free access to online products is available by starting from IRS Free File.

Direct File pilot for filing season 2024

The IRS launched the Direct File pilot for the 2024 filing season. The Inflation Reduction Act mandated that the IRS study interest in and feasibility of creating a direct e-filing tool taxpayers could use to prepare and file their federal income tax return. The IRS commissioned an independent study, which indicated broad interest in such a system, which the IRS detailed in a Direct File Report to Congress in May 2023.

Shortly after that report, as directed by the Treasury Department, the IRS assembled a team of tax experts, technologists, engineers and strategists from across government to build the Direct File system. The IRS worked closely with the U.S. Digital Service and the General Services Administration’s technology office 18F to build and test Direct File.

Initial testing began in early February 2024 with a handful of federal and state government employees, followed by short open availability windows for more taxpayers to start their returns. On March 4, the IRS announced that Direct File would enter final testing, which included an allotment of available spaces with more spaces added every day. Direct File is now open to all eligible taxpayers in pilot states to decide if it is the right option for them to file their 2023 federal tax return online for free, directly with IRS.

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Baltimore Port: What impact will bridge collapse have on shipping?

U.S. President Joe Biden visits the Port of Baltimore

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Francis Scott Key Bridge collapse in Baltimore

Philippines' Marcos boosts maritime security as China tension rises

Philippine President Ferdinand Marcos Jr has ordered his government to strengthen its coordination on maritime security to confront "a range of serious challenges" to territorial integrity and peace, as a dispute with China escalates.

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The head of Ukraine's largest private energy firm, DTEK, said on Saturday that five of its six plants had been damaged or destroyed with 80% of its generating capacity lost after two weeks of Russian attacks and that repairs could take up to 18 months.

Three United Nations observers and a translator were wounded on Saturday when a shell exploded near them as they were carrying out a foot patrol in south Lebanon, the U.N. peacekeeping mission said, adding it was still investigating the origin of the blast.

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‘Old-fashioned embezzlement’: where did all of FTX’s money go?

Sam Bankman-Fried oversaw its collapse – now the crypto firm is in bankruptcy proceedings as contentious as his fraud trial

S am Bankman-Fried, former CEO of the bankrupt cryptocurrency exchange FTX , presided over a spectacular collapse that cost his customers billions of dollars. He argues in court filings that anyone owed money by FTX “will eventually be paid in full”. The US government says he’s living in a fantasy land. He was sentenced to 25 years in prison on Thursday.

Last week, FTX’s caretaker, John Ray III, appointed to oversee the company’s bankruptcy proceedings, reminded the court that Bankman-Fried had masterminded a “colossal fraud”, lived a “life of delusion”, and called Bankman-Fried’s lawyers’ claim that no one had been harmed as “categorically, callously, and demonstrably false”.

Bankman-Fried was sentenced after being convicted of fraud and conspiracy to launder money in the multibillion-dollar collapse of his cryptocurrency exchange. If given the maximum penalty, he would have faced 100 years in prison. His lawyers asked for a six-year sentence. The US government wanted to see the 32-year-old ex-CEO, who defrauded his own customers out of $8bn, sentenced to 40 to 50 years.

Attorneys for the Department of Justice argued that Bankman-Fried’s sentencing submission shows attempts “to reframe his crimes as mere mistakes or misunderstandings” – and if released at a young age there is “significant likelihood” he would commit another fraud.

Judge Lewis Kaplan doled out two and a half decades to Bankman-Fried. But even as the hubbub over the founder of FTX crests and then subsides, the bankruptcy proceedings of the cryptocurrency exchange are heating up, becoming as contentious as Bankman-Fried’s blockbuster trial. They are likely to continue long after he reports to prison.

FTX: new technology, old-fashioned embezzlement

The crypto entrepreneur laid a smokescreen, spending millions of customer funds on his lifestyle, drawing in politicians and celebrities with donations and endorsement deals, and fronting a pseudo-philosophy of effective altruism that boiled down to the greater the profits, the greater the good.

Last year, Ray testified to Congress that FTX’s collapse was “really old-fashioned embezzlement. This is just taking money from customers and using it for your own purposes.” Justice department prosecutors echoed his statements in the immediate aftermath of Bankman-Fried’s conviction.

At trial, the court heard from an accounting expert who said that $11.3bn in customer funds were supposed to be held at Alameda Research, FTX’s hedge fund arm. But only $2.3bn could be located. The rest had gone toward investments, political contributions, charity foundations and real estate purchases. FTX, remarkably, had left almost no records of transactions.

“The harm was vast. The remorse is non-existent. Effective altruism, at least as lived by Samuel Bankman-Fried, was a lie,” Ray said in a recent court submission, adding that he and his team had spent “over a year stewarding the estate from a metaphorical dumpster fire”.

At Bankman-Fried’s sentencing hearing, Kaplan agreed. He said FTX’s customers had lost some $8bn and that its investors had lost $1.7bn.

Who gets paid in FTX’s bankruptcy, and how?

FTX collapsed over 10 days in November 2022 and soon after filed for Chapter 11 bankruptcy – a statute used to reorganize a failing company “in the public interest”. FTX’s exchange, its main product, was not so much reorganized as shut down.

On 31 January, FTX announced it would not reopen its exchange and would instead liquidate all its assets. It has promised to pay its account holders the value of the deposited crypto in dollars.

A series of civil lawsuits have challenged decisions made in the handling of FTX after Bankman-Fried’s departure, however. The company says it will pay creditors based on the value of their cryptocurrency at the time of FTX’s bankruptcy, when bitcoin was trading at just over $17,000. Bitcoin is currently four times more valuable, trading at over $67,000 – one of the main reasons FTX’s representatives say they can pay customers back. Plaintiffs in the suits argue FTX owes them the higher value, though.

Bankman-Fried invested $500m in the AI startup Anthropic when it was valued at $3.4bn. It’s now valued at about $15bn, and FTX plans to sell the stake for some $884m .

In a lawsuit filed in January, four FTX creditors said the plan to return customer funds did not reflect the company’s obligations under Chapter 11 bankruptcy law. Some have objected to their crypto holdings being converted to dollars – “dollarization” – and the transparency that would come with it.

Last week, Ray pushed contentions about visibility aside. The CEO said he could not return the crypto assets because they don’t exist. “A jury has concluded beyond a reasonable doubt that Mr Bankman-Fried stole them and converted them into other things,” he wrote in a court filing.

Kaplan also rejected Bankman-Fried’s argument that customers could be paid back, and compared the former billionaire to “a thief who takes his loot to Las Vegas”, saying that Bankman-Fried was not entitled to leniency by trying to use his winnings to pay back what he stole.

Moreover, FTX bankruptcy claims have become a hot commodity, with the London-based distressed asset investor Attestor buying up the company’s assets at rock bottom prices. Attestor is now in a New York court defending itself from a Panamanian holder of an FTX account who wants the bankruptcy claim – now worth more than double – back.

FTX shareholders get zilch

One class of creditor is unlikely to see any of their money returned: FTX shareholders. Millions of shares were held by Tiger Global management, the Ontario teachers’ pension plan, Sequoia Capital, New England Patriots owner Robert Kraft, NFL quarterback legend Tom Brady and his ex-wife Gisele Bündchen, who both advertised for the company. Their stakes , once valued at tens of millions, are assumed to be worthless.

The bankrupt FTX has likewise had little success clawing back the charitable and political donations Bankman-Fried made, including $44.6m to Democratic candidates and causes, and at least $23.9m to Republicans in the last election cycle. In total, FTX dished out of $93m in political donations between March 2020 and November 2022. In February 2023, the exchange asked for its donations to be returned, claiming it would sue, but has not followed through with the threat.

But some of the beneficiaries of FTX’s PR largesse, designed some claim to influence regulations around crypto, have returned their donations: New York’s Metropolitan Museum of Art returned $550,000 it received from FTX in 2022. Stanford, where Bankman-Fried’s parents work as law professors, pledged to return a $5.5m donation.

Academics raise questions about FTX’s bankruptcy

A recently published academic paper claims that FTX was placed in the hands of legal counsel, Sullivan & Cromwell, which had “undisclosed potential conflicts of interest” in its dealings with the company and Bankman-Fried “due to apparent errors, omissions and deceptions”.

Law professors Jonathan Lipson at Temple University and David Skeel at the University of Pennsylvania contend that “FTX is a cautionary tale about the power that lawyers have to frame, control, and profit from” claims about the public interest and that the bankruptcy included “bargain-basement asset-sales to favored insiders”.

In their paper, the academics called for an independent examiner to look at how the precipitous bankruptcy was handled.

“It doesn’t appear from the public record that they made any serious effort to restart the exchanges,” Lipson told the Guardian. “Sullivan & Cromwell had an unusually long and important relationship with FTX and with Bankman-Fried before bankruptcy, so our concern is that the appearance of a conflict of interest caused them to panic and mislead Bankman-Fried into giving up control of the company, which then may have distorted the criminal case and hurt depositors and creditors.”

‘His redemption narrative’

In a text exchange with the Vox reporter Kelsey Piper , Bankman-Fried appeared to diminish the underpinnings of the effective altruism ideology he once championed.

“I feel bad for those who get fucked by it, by this dumb woke game westerners play where we say all the right shibboleths and so everyone likes us.”

Last month, Bankman-Fried replaced his trial lawyer with Marc Mukasey, who has represented Donald Trump, and Alex Mashinsky, the former CEO of the bankrupt cryptocurrency exchange Celsius, another mogul accused of fraud. Mukasey has described Bankman-Fried as a hard-working billionaire who avoided the trappings of great wealth and fame, and whose brusque social manner could be ascribed to “neurodiversity”.

In January, the Yale Law professor Ian Ayres and the Stanford Law professor John Donohue, two friends of the Bankman-Fried family, published an essay in Project Syndicate making the argument that FTX had sufficient assets to make its customers whole.

And Daniel Chapsky, the former head of data science at FTX, wrote that Bankman-Fried was only interested in helping bankruptcy lawyers and had “worked almost around the clock, to the point of exhaustion”.

But the government has pushed back on those efforts. “The point is that the defendant is motivated to launch his redemption narrative and has already been thinking about how to spin it. It is realistic that he will settle on a narrative, lean into it, and convince other people to part with their money based on lies and the promise of false hope,” prosecutors said in a filing.

At his sentencing, Bankman-Fried’s redemption narrative was unsuccessful. He said he was “sorry about what happened” and that he had made “a series of bad decisions”, but Judge Kaplan still called him remorseless, castigating him for “never a word of remorse for the commission of terrible crimes”.

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8 New Books We Recommend This Week

Suggested reading from critics and editors at The New York Times.

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Our fiction recommendations this week include a “gleeful romp” of a series mystery, along with three novels by some heavy-hitting young writers: Téa Obreht, Helen Oyeyemi and Tommy Orange. (How heavy-hitting, and how young? Consider that Obreht was included in The New Yorker’s “20 Under 40” issue in 2010 — and she’s still under 40 today. So is Oyeyemi, who was one of Granta’s “Best Young British Novelists” in 2013, while Orange, at 42, has won the PEN/Hemingway Award, the John Leonard Prize and the American Book Award. The future is in good hands.)

In nonfiction, we recommend a painter’s memoir, a group biography of three jazz giants, a posthumous essay collection by the great critic Joan Acocella and a journalist’s look at American citizens trying to come to terms with a divided country. Happy reading. — Gregory Cowles

THE MORNINGSIDE Téa Obreht

After being displaced from their homeland, Silvia and her mother move into the Morningside, a weather-beaten luxury apartment building in “Island City,” a sinking version of New York in the middle of all-out climate collapse. Silvia learns about her heritage through the folk tales her aunt Ena tells her, and becomes fascinated with the mysterious woman who lives in the penthouse apartment.

business plan critique paper

“I marveled at the subtle beauty and precision of Obreht’s prose. … Even in the face of catastrophe, there’s solace to be found in art.”

From Jessamine Chan’s review

Random House | $29

A GRAVE ROBBERY Deanna Raybourn

In their ninth crime-solving tale, the Victorian-era adventuress and butterfly hunter Veronica Speedwell and her partner discover that a wax mannequin is actually a dead young woman, expertly preserved.

business plan critique paper

“Throw in an assortment of delightful side characters and an engaging tamarin monkey, and what you have is the very definition of a gleeful romp.”

From Sarah Weinman’s crime column

Berkley | $28

THE BLOODIED NIGHTGOWN: And Other Essays Joan Acocella

Acocella, who died in January, may have been best known as one of our finest dance critics. But as this posthumous collection shows, she brought the same rigor, passion and insight to all the art she consumed. Whether her subject is genre fiction, “Beowulf” or Marilynne Robinson, Acocella’s knowledge and enthusiasm are hard to match. We will not see her like again.

business plan critique paper

"Some critics are haters, but Acocella began writing criticism because she loved — first dance, and then much of the best of Western culture. She let life bring her closer to art."

From Joanna Biggs’s review

Farrar, Straus & Giroux | $35

WANDERING STARS Tommy Orange

This follow-up to Orange’s debut, “There There,” is part prequel and part sequel; it trails the young survivor of a 19th-century massacre of Native Americans, chronicling not just his harsh fate but those of his descendants. In its second half, the novel enters 21st-century Oakland, following the family in the aftermath of a shooting.

business plan critique paper

“Orange’s ability to highlight the contradictory forces that coexist within friendships, familial relationships and the characters themselves ... makes ‘Wandering Stars’ a towering achievement.”

From Jonathan Escoffery’s review

Knopf | $29

PARASOL AGAINST THE AXE Helen Oyeyemi

In Oyeyemi’s latest magical realist adventure, our hero is a woman named Hero, and she is hurtling through the city of Prague, with a shape-shifting book about Prague, during a bachelorette weekend. But Hero doesn’t seem to be directing the novel’s action; the story itself seems to be calling the shots.

business plan critique paper

“Her stock-in-trade has always been tales at their least domesticated. … In this novel, they have all the autonomy, charisma and messiness of living beings — and demand the same respect.”

From Chelsea Leu’s review

Riverhead | $28

3 SHADES OF BLUE: Miles Davis, John Coltrane, Bill Evans, and the Lost Empire of Cool James Kaplan

On one memorable occasion in 1959, three outstanding musicians came together for what may be the greatest jazz record ever, Davis’s “Kind of Blue.” Kaplan, the author of a Frank Sinatra biography, traces the lives of his protagonists in compelling fashion; he may not be a jazz expert but he knows how to tell a good story.

business plan critique paper

“Kaplan has framed '3 Shades of Blue' as both a chronicle of a golden age and a lament for its decline and fall. One doesn’t have to accept the decline-and-fall part to acknowledge that he has done a lovely job of evoking the golden age.”

From Peter Keepnews’s review

Penguin Press | $35

WITH DARKNESS CAME STARS: A Memoir Audrey Flack

From her early days as an Abstract Expressionist who hung out with Jackson Pollock and Willem de Kooning at the Cedar Bar to her later success as a pioneering photorealist, Flack worked and lived at the center of New York’s art world over her long career; here she chronicles the triumphs, the slights, the sexism and the gossip, all with equal relish.

business plan critique paper

“Flack is a natural, unfiltered storyteller. … The person who emerges from her pages is someone who never doubts she has somewhere to go.”

From Prudence Peiffer’s review

Penn State University Press | $37.50

AN AMERICAN DREAMER: Life in a Divided Country David Finkel

Agile and bracing, Finkel’s book trails a small network of people struggling in the tumultuous period between the 2016 and 2020 U.S. presidential elections. At the center is Brent Cummings, a white Iraq war veteran who is trying to cope with a country he no longer recognizes.

business plan critique paper

“Adroitly assembles these stories into a poignant account of the social and political mood in the United States. … A timely and compelling argument for tolerance and moral character in times of extreme antagonism.”

From John Knight’s review

Random House | $32

Explore More in Books

Want to know about the best books to read and the latest news start here..

James McBride’s novel sold a million copies, and he isn’t sure how he feels about that, as he considers the critical and commercial success  of “The Heaven & Earth Grocery Store.”

How did gender become a scary word? Judith Butler, the theorist who got us talking about the subject , has answers.

You never know what’s going to go wrong in these graphic novels, where Circus tigers, giant spiders, shifting borders and motherhood all threaten to end life as we know it .

When the author Tommy Orange received an impassioned email from a teacher in the Bronx, he dropped everything to visit the students  who inspired it.

Do you want to be a better reader?   Here’s some helpful advice to show you how to get the most out of your literary endeavor .

Each week, top authors and critics join the Book Review’s podcast to talk about the latest news in the literary world. Listen here .

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  25. Direct File officially opens in 12 pilot states following positive

    Taxpayers encouraged to try innovative new option before April 15 deadline. IR-2024-68, March 12, 2024. WASHINGTON — The Internal Revenue Service announced today the full-scale launch of the innovative Direct File pilot and encouraged eligible taxpayers in 12 states to try the new service to file their tax returns online for free directly with the IRS.

  26. 2024 CTP: INDOT Certified Technician Program Exam, May 13th

    CLICK HERE to review the Certified Technician Program requirements. Ticket sales open at least 3 weeks prior to the exam date and close the week prior to the exam on Monday. All 6 CTP exams are offered at each exam session in Electronic format. Electronic Manual w/ Electronic Exam ticket - a PDF CTP manual is provided to the registrant for use during the exam. The registrant's self-provided ...

  27. Baltimore Port: What impact will bridge collapse have on shipping?

    Item 1 of 2 A view shows the port as U.S. President Joe Biden (not pictured) visits the Port of Baltimore, Maryland, U.S., November 10, 2021. REUTERS/Evelyn Hockstein/File Photo

  28. Why BlackRock's C.E.O. Wants to Rethink Retirement

    Adam Neumann reportedly makes a formal bid for WeWork. The bankrupt co-working company's former C.E.O. has offered more than $500 million to buy the business, according to The Wall Street ...

  29. 'Old-fashioned embezzlement': where did all of FTX's money go?

    Millions of shares were held by Tiger Global management, the Ontario teachers' pension plan, Sequoia Capital, New England Patriots owner Robert Kraft, NFL quarterback legend Tom Brady and his ex ...

  30. 8 New Books We Recommend This Week

    In nonfiction, we recommend a painter's memoir, a group biography of three jazz giants, a posthumous essay collection by the great critic Joan Acocella and a journalist's look at American ...