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

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  • Jeroen de Jong
  • Petra Gibcus
  • Patrick Vermeulen

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.

Suggested Citation

  • Jeroen de Jong & Petra Gibcus & Patrick Vermeulen, 2006. "Strategic Decision-Making in Small Firms: Towards a Taxonomy of Entrepreneurial Decision-Makers," Scales Research Reports N200511, EIM Business and Policy Research.
    • Handle: RePEc:eim:papers:n200511
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    File URL: http://www.entrepreneurship-sme.eu/pdf-ez/N200511.pdf
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    Cited by:

    1. Faezeh Hanifzadeh, 2022. "A comprehensive model for determining the role of entrepreneurial decision-making in recognition and evaluation of opportunities: a meta-synthesis review," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 12(1), pages 395-422, December.

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