Strategic Decision-Making in Small Firms: Towards a Taxonomy of Entrepreneurial Decision-Makers

Jeroen de Jong, Petra Gibcus and Patrick Vermeulen

No N200511, Scales Research Reports from EIM Business and Policy Research

Abstract: Most changes in firms take place after a decision has been made. Despite that small firms are no exception to this, previous research into decision-making processes have left this subject uncharted. There are many studies with a focus on the decision-making process by managers in large firms, but only a few have paid attention to entrepreneurs in small businesses. The current study empirically investigated and identifies different types of entrepreneurial decision-makers. Drawing on a database of 646 entrepreneurs, five types of decision-makers are distinguished: Dare Devils, Lone Rangers, Doubtful Minds, Informers? Friends and Busy Bees. Implications for future research are discussed.

Pages: 30 pages
Date: 2006-01-19
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Persistent link: https://EconPapers.repec.org/RePEc:eim:papers:n200511

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