Critical entrepreneur knowledge dimensions for the SME performance

Abstract

PurposeThe purpose of this paper is to illustrate the entrepreneurship knowledge construct with its dimensions and its significance for the firm performance via a model. This research attempts to comprehensively examine the criteria for measuring entrepreneurial knowledge performance outcomes in small and medium enterprises. To date no studies developed a set of widely accepted measurement criteria associated to entrepreneur knowledge and firm performance. This paper, therefore, aims to fill the gap.Design/methodology/approachExisting studies on entrepreneurial knowledge were reviewed and their limitations were identified. Mailed structured questionnaire data for this study were collected from SME in Slovenia (168 usable responses). Exploratory and confirmatory factor analysis with structural equation modelling was used to estimate the model.FindingsThe model hypothesis on the relationship among entrepreneurial knowledge and performance were mainly supported, thus reflecting the positive effect of entrepreneurial knowledge and all its dimensions on SME performance.Research limitations/implicationsThe study is limited to Slovenian SME, but can be generalised to other regions.Practical implicationsEntrepreneurial knowledge can have beneficial effects on the firm's growth and profitability. The findings can be used to guide entrepreneur in developing different dimensions of knowledge.Originality/valueThis study proved latent elements of entrepreneurial knowledge model. It gives valuable information, which hopefully will help SMEs to respect more the meaning of knowledge.

Convergence of Conceptual Innovation Model to Reduce Challenges Faced by the Small and Medium Sized Enterprises’ (SMEs) in Bangladesh

“…It has been observed that entrepreneurs with procedural backgrounds may find challenges in handling progressions and operative areas of the industry [27][28][29]. The growth of small and medium enterprises may also be obstructed by some major external challenges, such as competition, unfriendly business environment, government regulatory and law issues and the condition of the economy [30][31][32][33].…”

Towards Sustainable Entrepreneurship Holistic Construct

“…For this reason, apart from the typical form of a systematic literature review [2,5,19], an increasing number of researchers have started paying attention to the multidimensional aspects of SE, concerning various factors, drivers and variables. For example, as the results of these works, researchers propose to group the reviewed papers into categories [4], to construct a conceptual model [45], to define value creation strategies [34], to build sustainable business models [60], or integrated framework [7], or to build theory of SE [61], especially taking into account multidimensional social entrepreneurship [4], or ecologically sustainable entrepreneurship aspects [45]. Summarizing the contribution of the extant literature review of the field of sustainable entrepreneurship, there is a clear need to continue to build on these new areas of research.…”

“…The other important factor is that researchers may focus on knowing how sustainable enterprises develop their roadmap [8,[25][26][27][28], and which factors are most influential on social and environmental issues [29][30][31]. Other implication is related to help in identifying most prominent cooperative categories and also value creation contributing positively to develop sustainable businesses [32][33][34].…”

The Determinants of Enterprise Profi Tability During Reduced Economic Activity

“…Many researchers suggest that among internal factors that determine the firms' profitability particularly important are management practices of individuals who run the firm (Wijewardena et al 2008;Andersson, Tell 2009). Moreover, there is a general agreement that other personality characteristics, managerial knowledge, experience, motivation and risk-taking propensity of managers are factors that may have either a positive or a negative impact on firm performance (Omerzel, Antoncic 2008;Ackelsberg 1985;Covin, Slevin 1989;Miller, Toulouse 1986;Reijonen, Komppula 2007;Jennings, Beaver 1995;McCartan-Quinn, Carson 2003).…”