The Influences of Entrepreneurial Motivation and New Business Acquisition on Strategic Decision Making
AbstractStrategic management is the domain of upper-level corporate management. The ability to make corporate decisions based on the company's internal strengths and externalities in the macro-environment is a key duty of top management. In small businesses, the business owner or founder generally operates the business and is in a leadership role as the CEO. Are the strategic management and decision-making processes similar for small entrepreneurial businesses? Is the strategic or long-term decision making the same for all entrepreneurs who start their own companies? Does the involvement of top managers in entrepreneurial companies vary in their day-to-day versus their long-term decision making? Small businesses may be inherited from family, started from scratch by an entrepreneur, or purchased as an existing entity. Is the involvement by the small business owner in decision making influenced by the way the business was founded or acquired? The purpose of this exploratory paper is to investigate the decision-making tactics of the small business owner or entrepreneur and to determine the influence, if any, of the means of business acquisition. Discussion and ideas for further research are presented.
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