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

Authors: Petra Gibcus, Patrick A.M. Vermeulen, Jeroen P.J. De Jong

Addresses: EIM Business and Policy Research, The Netherlands, Bredewater 26, Postbus 7001, 2701 AA Zoetermeer, The Netherlands. ' Faculty of Social and Behavioral Sciences, Department of Organization Studies, Tilburg University, The Netherlands, P.O. Box 90153, 5000 LE Tilburg, The Netherlands. ' EIM Business and Policy Research, The Netherlands, Bredewater 26, Postbus 7001, 2701 AA Zoetermeer, The Netherlands

Abstract: Most changes in firms take place after a decision has been made. Despite the small firms being no exception to this, the previous researches into decision-making processes have left this subject uncharted. The current study empirically investigates and identifies the different types of entrepreneurial decision makers. Drawing on a database of 646 entrepreneurs, five types of decision makers are distinguished: the Daredevils, the Lone Rangers, the Doubtful Minds, the Informers| Friends and the Busy Bees. We propose that the various types of Small Business Owners (SBOs) decision makers will differ in their cognitive abilities and find empirical support.

Keywords: strategic decision making; small and medium-sized enterprises; SMEs; taxonomy; decision makers; cognitive ability; small business owners; entrepreneurship.

DOI: 10.1504/IJESB.2009.021610

International Journal of Entrepreneurship and Small Business, 2009 Vol.7 No.1, pp.74 - 91

Available online: 30 Nov 2008 *

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