Strategic decision making in small firms: a taxonomy of small business owners

Gibcus, Petra; Vermeulen, Patrick; Jong, Jeroen P.J. de

doi:10.1504/ijesb.2009.021610

Cited by 45 publications

(33 citation statements)

References 57 publications

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“…Both risk propensity and risk perception need to be accounted for when explaining firm performance. A number of studies suggest that the concept of risk taking is more complex and that in addition to risk propensity the perception of risk is important as well (e.g., Boermans and Willebrands, 2012;Cressy, 2006;Dana, 1995;Gibcus et al, 2009;Gundolf and Jaouen, 2005;Kraus et al, 2012;Sitkin and Pablo, 1992;Willebrands et al, 2012).…”

Section: Related Literaturementioning

confidence: 99%

Entrepreneurship, risk perception and firm performance

Boermans

Willebrands

2017

IJESB

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Risk attitudes of entrepreneurs are well-established drivers of business performance. Most empirical studies in this field only take into account risk propensity, leaving out the complementary concept of risk perception. Using data on 611 entrepreneurs from Tanzania, we show that risk perception is positively associated with business performance. In addition, we classify the entrepreneurs in four different groups based on their risk profile. The results show that the worst performing entrepreneurs are those with low risk perception and high risk propensity.

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Section: Related Literaturementioning

confidence: 99%

Entrepreneurship, risk perception and firm performance

Boermans

Willebrands

2017

IJESB

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“…They guide the organization into the future and shape its course (Gibcus, Vermeulen & Jong, 2006). For more than 40 years, scholars in various academic disciplines have recognized the importance of strategic decisions, resulting in a broad variety of literature.…”

Section: Strategic Decision Making Process Dimensionsmentioning

confidence: 99%

“…This is because firstly entrepreneurs face a more hostile or uncertain environment in their decision making activities thus they do not have access to extensive information sources. Secondly the entrepreneurial environment is dynamic and complex and in this environment it is believed that the rationality of strategic decision processes tends to be lower and entrepreneurs do not develop routines and often act on the basis of opportunism (Gibcus, Vermeulen & Jong, 2006). On this account, more research focusing on rational decision making process and decision maker"s characteristics needs to be done.…”

Section: Rationalitymentioning

confidence: 99%

“…Studies on the entrepreneurs and their strategic decision-making process will enrich the knowledge of mechanisms that drive SMEs to participate in the economy life of the state, contributing to growth and prosperity for society. Research show that the importance of strategic decision-making process in SMEs (Ivanova & Gibcus, 2003;Gibcus, Vermeulen & Jong, 2006;Gibcus & Hoesel, 2004). But some debate exists regarding the factors leading to strategic decision-making process in SMEs.…”

Section: Introductionmentioning

confidence: 99%

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How Much Entrepreneurial Characteristics Matter in Strategic Decision-Making

URU¹,

CALISKAN²,

ATAM³

et al. 2011

JGSM

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“…Observing and interacting with other individuals, entrepreneurs acquire information and skills, learn how to ind the most competent employees, to obtain inancial support and identify potential buyers (Minniti, 2005). Social capital manifested through collaboration with various irms contributes to the spread of knowledge, having a positive effect on the performance of small and medium enterprises (Gibcus et al, 2009). Acquiring a rich social capital implies belonging to a network which ensures access to knowledge and various resources (Yli-Renko, 2001).…”

Section: Introductionmentioning

confidence: 99%

Influencing Factors of the Export of Romanian Bee Products

Popovici¹,

̃²,

Dezmirean³

et al. 2014

BUASVMCN-ASB

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Current global policies are encouraging activities that determine the sustainable development of rural areas and the achievement of safe and high quality agri-food products. In this context, the present research aims to study the factors that in luence the export of bee products which are consistent with the present tendency of consumers to purchase products that confer health bene its. The export of bee products is a process through which beekeepers seek opportunities for which there is demand in foreign markets and assume the risk of entering new markets in order to meet this demand. Following a survey conducted on a sample of 420 beekeepers from the North West Region of Romania, the results of the present research prove that the decision to export bee products is in luenced by the following factors: the intention of setting up a irm, farm modernization, product diversi ication, collaboration, belonging to a group of producers, farm type and farm size. In addition, the paper shows that exports represent a strategy for the revitalization and transformation of the beekeeping sector as they imply inding market opportunities and promoting various and high quality bee products. The indings of the present study can assist beekeepers in their endeavor to formulate export strategies and succeed in international markets.

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Strategic decision making in small firms: a taxonomy of small business owners

Cited by 45 publications

References 57 publications

Entrepreneurship, risk perception and firm performance

Entrepreneurship, risk perception and firm performance

How Much Entrepreneurial Characteristics Matter in Strategic Decision-Making

Influencing Factors of the Export of Romanian Bee Products

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