Small Business Dissertation

Topics: Small business, Entrepreneurship, Business Pages: 56 (17631 words) Published: January 14, 2011
Contents

Abstract ………………………………………………………………………………………………………………………2

Section one:
1. Introduction…………………………………………………………………………………………………………….3-6

Section two: Literature Review and Research Questions
1. Entrepreneurial orientation Definition…………………………………………………………………….7-9 2.
3. Autonomous………………………………………………………………………………………………………….9-11 4.
5. Innovativeness…………………………………………………………………………………………….….………….11 6.
7. Risk Taking…………………………………………………………………………………………………….……..11-12 8.
9. Proactive………………………………………………………………………………………………………………12-14 10.
11. Competitive Aggressiveness…………………………………………………………………………………14-15 12.
13. Small business obstacles and recent growth trend…………………………………………….…15-18 14.
2.8 Management Competence……...................................................................................18-21

2.9 Research Questions……………………………………………………………………………………..………..21-24

Section Three: Research Approach
1. Methodology……………………………………………………………………………………..……………….…24-30

Section four: Finding and Results………………………………………………………………………………..…30-40

1. The degree of the entrepreneurial orientation …………………………….………………………33-35 2.
3. Company’s Obstacle……………………………………………………..……………………………………...36-37 4. The way to solve the obstacle……………………………………………………………………………….38-40

Section Five:
1. Discussion……………………………………………………………………………………………………………..40-44

Section Six:
1. Conclusion…………………………………………………………………………………………………………..44-47

Appendix………………………………………………………………………………………………………………………..48-62

Bibliography & References……………………………………………………………………………………………62-65

Entrepreneurial Orientation and its affect on business growth in small firms in the UK

Abstract
Small enterprises are facing significant challenges to sustain their business growth due to the limited resources, inexperienced management, and lack of financial stability, micro and small businesses suffer relatively high mortality rate. It is essential for micro and small businesses to realize how to overcome these challenges. The finding of this study has significant implication for entrepreneurs, new born business and small businesses in the UK by adopting entrepreneurial orientation factors to enhance their business performances and overcome their business obstacles. This dissertation investigates the obstacles for Micro and small businesses and how the entrepreneurial orientation factors. By uncovering the influences of a company’s performance, and owner’s decisions making as a means of overcoming the businesses obstacles. This dissertation is going to adopt the Entrepreneurial orientation theory as defined by G. T. Lumpkin, and Gregory G. Dess (1996). In addition, primary research methods such as a face to face qualitative interview will be used to examine two different sized businesses and Corporation Entrepreneur Audits. The key findings of this study investigate the common obstacles as small business faces that lead to failure, which compromise of: management incompetence, lack of experience, lack of strategic management and weak marketing effort. Furthermore this dissertation will uncover if any size business can adopt entrepreneurial orientation, and it influences the business owners/companies performance.

1.1 Introduction
In the United Kingdom, it is estimated that there is around 3.7m businesses including self-employed provided an estimate 57% of the employment and 54% of business sales turnover stimulate the UK economy in 2004. (Stuart Fraser 2004). Small businesses also play an integral role in creating new products, services, and processes. An entrepreneur is one who creates a business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on those opportunities. An organisation theory has come to view entrepreneurship as a firm level phenomenon. In...

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Covin, J
David Carson ‘Marketing and entrepreneurship in SMEs: an innovative approach (1995)’: Prentice Hall
David Devins, Steven Johnson, Jeff Gold and Rick Holden ‘Management Development and Learning in Micro Businesses: a missing link in research and policy’
David Stokes and Nicholas Wilson (2006) ‘Small Business Management and Entrepreneurship’. Fifth edition 2006: Thomason Learning.
Hermann Frank/ Alexander Kessler/ Matthias Fink ‘Entrepreneurial orientation and Business performance-A replication study (2010) SBR62 pp.175-198
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Ken Grant, Ryerson University, Toronto (2008) ECMLG 2008 4th European Conference on Management, Leadership and Governance pp 158
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Neil C. Churchill and Virginina L. Lewis ‘The Five Stages of Small Business Growth (1983) Harvard Business Review: President and Fellows of Harvard College.
Norman M. Scarborough and Thomas W. Zimmerer (2006) ‘Effective Small Business Management an Entrepreneurial Approach’ Eighth Edition Pearson Education
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Thelma Quince, Hugh Whittaker, Entrepreneurial Orientation and Entrepreneurs intentions and objectives’ (2003) ESRC centre for business research
Stuart Fraser ‘ Finance for Small and Medium-Sized Enterprises’ A report on the 2004 UK Survey of SME Finances
Zhan Jun ‘Exploring entrepreneurial orientation in 3 dimensions: a new prospective for analyzing the value of a company’. (2004)
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www.stats.bis.gov.uk/ed/sme - Department for Business Innovation & Skills, Statistical Press release (2010)
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Europe-Asia Studies, Vol. 58, No. 6 (Sep., 2006), PP. 855-880 Ruta Aidis and Tomasz Mickiewicz
www.entrepreneur.com/tradejournals -The Sustainability of the Entrepreneurial Orientation--Performance Relationship
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