Luca Dörr, Kerstin Fliege, Claudia Lehmann, D. Kanbach, S. Kraus
Digital Transformation (DT) has become a challenge and opportunity for firms competing in dynamic and volatile markets. Especially small and medium sized enterprises (SMEs) face difficulties within the digitalization process based on their limited resources and capabilities. It is essential to understand which factors influence this process to enable the success of DT in SMEs. However, there is fragmented research on DT in SMEs. To close this gap this paper aims to identify and categorize the influencing factors of DT in SMEs by building on the Attention Based View (ABV). Therefore, a systematic literature review was conducted with a total of 75 papers published from January 2012 to January 2022. 354 factors were identified. With the help of Gioia-Method a taxonomy was created. The main finding of the research is a taxonomy, which consists of three main categories and 17 sub-categories, which organize the factors identified from the sample. The taxonomy answers the calls in research for a comprehensive and tangible picture on the influencing factors of DT in SME independent from disciplines or industries. For practitioners the taxonomy allows to understand and approach what specific factors influence their digital transformation journey and where to put attention.
{"title":"A Taxonomy on Influencing Factors Towards Digital Transformation in SMEs","authors":"Luca Dörr, Kerstin Fliege, Claudia Lehmann, D. Kanbach, S. Kraus","doi":"10.53703/001c.66283","DOIUrl":"https://doi.org/10.53703/001c.66283","url":null,"abstract":"Digital Transformation (DT) has become a challenge and opportunity for firms competing in dynamic and volatile markets. Especially small and medium sized enterprises (SMEs) face difficulties within the digitalization process based on their limited resources and capabilities. It is essential to understand which factors influence this process to enable the success of DT in SMEs. However, there is fragmented research on DT in SMEs. To close this gap this paper aims to identify and categorize the influencing factors of DT in SMEs by building on the Attention Based View (ABV). Therefore, a systematic literature review was conducted with a total of 75 papers published from January 2012 to January 2022. 354 factors were identified. With the help of Gioia-Method a taxonomy was created. The main finding of the research is a taxonomy, which consists of three main categories and 17 sub-categories, which organize the factors identified from the sample. The taxonomy answers the calls in research for a comprehensive and tangible picture on the influencing factors of DT in SME independent from disciplines or industries. For practitioners the taxonomy allows to understand and approach what specific factors influence their digital transformation journey and where to put attention.","PeriodicalId":52115,"journal":{"name":"Journal of Small Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42265077","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The inability of small and early firms to successfully innovate beyond their first product is a strategic problem that has been a topic of academic attention for decades. Yet the phenomenon has not abated in practice. Extant research has most often focused on the search and planning stages, and applied the resource-based view for operational problems (e.g. within R&D), for explanations and solutions. This paper tests hypotheses that emerged from our initial field research and also builds on prior scholarship. To test hypotheses, we performed a full census of all small, newer U.S. software firms and measured the magnitude of this innovation problem (scarce follow-on products) in small/newer business settings. It undertakes to understand two constructs: 1. the degree to which follow-on innovation projects (the next product) may deteriorate more than all other R&D projects in newer firms after the first product is released , and 2. to test theory-based explanations for “the why” any such deterioration may occur. The research quantifies the following: while firms do plan for follow-on innovations (the next product), these project types become uniquely resource deprived over time from their original plan when compared to the rersource changes made to all other competing R&D projects of the firm. Furthermore, our behavioral-based hypotheses from both agency and resource dependence theories are operationalized and tested for explanatory significance.
{"title":"One Hit Wonders; Why Do New Firms Largely Not Deliver a Second Product?","authors":"Craig Randall","doi":"10.53703/001c.57748","DOIUrl":"https://doi.org/10.53703/001c.57748","url":null,"abstract":"The inability of small and early firms to successfully innovate beyond their first product is a strategic problem that has been a topic of academic attention for decades. Yet the phenomenon has not abated in practice. Extant research has most often focused on the search and planning stages, and applied the resource-based view for operational problems (e.g. within R&D), for explanations and solutions. This paper tests hypotheses that emerged from our initial field research and also builds on prior scholarship. To test hypotheses, we performed a full census of all small, newer U.S. software firms and measured the magnitude of this innovation problem (scarce follow-on products) in small/newer business settings. It undertakes to understand two constructs: 1. the degree to which follow-on innovation projects (the next product) may deteriorate more than all other R&D projects in newer firms after the first product is released , and 2. to test theory-based explanations for “the why” any such deterioration may occur. The research quantifies the following: while firms do plan for follow-on innovations (the next product), these project types become uniquely resource deprived over time from their original plan when compared to the rersource changes made to all other competing R&D projects of the firm. Furthermore, our behavioral-based hypotheses from both agency and resource dependence theories are operationalized and tested for explanatory significance.","PeriodicalId":52115,"journal":{"name":"Journal of Small Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42387651","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research investigates the relationship between adaptability and small-and-medium enterprises (SME) performance, and the mediating role of action orientation. We highlight the importance of risk-taking on the relationship between adaptability and action orientation. Our study integrates research on dynamic capabilities and SME culture and how they translate into financial performance. We develop a moderated-mediation model of adaptability, linking perceptions of action to organizational performance. We argue these relationships are moderated by risk-taking. Our findings suggest: (a) there is a positive relationship between organizational adaptability and action; (b) action is positively related to organizational performance; (c) the indirect effect of organizational adaptability on organizational performance (via action) is stronger when employees work in a more risk-oriented environment.
{"title":"How SMEs Leverage Adaptability, Risk-Taking, and Action Into Positive Performance— A Moderated Mediation Model","authors":"J. Franczak, Laurence G. Weinzimmer","doi":"10.53703/001c.40318","DOIUrl":"https://doi.org/10.53703/001c.40318","url":null,"abstract":"This research investigates the relationship between adaptability and small-and-medium enterprises (SME) performance, and the mediating role of action orientation. We highlight the importance of risk-taking on the relationship between adaptability and action orientation. Our study integrates research on dynamic capabilities and SME culture and how they translate into financial performance. We develop a moderated-mediation model of adaptability, linking perceptions of action to organizational performance. We argue these relationships are moderated by risk-taking. Our findings suggest: (a) there is a positive relationship between organizational adaptability and action; (b) action is positively related to organizational performance; (c) the indirect effect of organizational adaptability on organizational performance (via action) is stronger when employees work in a more risk-oriented environment.","PeriodicalId":52115,"journal":{"name":"Journal of Small Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43803833","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Using novel and primary data on local SMEs belonging to the Portuguese furniture production cluster, this study examines local firms’ strategic responses to IKEA’s entry and its impact on their performance. Local firms seem to respond in diverse ways and implement different strategies to obtain performance gains, leading to an upgrade in size, resources and competences. A differentiation focus strategy is one of the most frequently adopted strategic responses, having a positive and significant effect on the evolution of the local firms’ performance after IKEA’s entry. By contributing towards the knowledge on the strategic responses of firms located in clusters, this study offers an original view on the impact of MNCs’ entry on the SMEs’ strategy of local firms, blending together contributions from different strands of the literature on MNCs, clusters and SMEs’ strategy.
{"title":"SMEs’ Strategic Responses to a Multinational’s Entry Into a Cluster","authors":"V. Eiriz, Natália Barbosa","doi":"10.53703/001c.38513","DOIUrl":"https://doi.org/10.53703/001c.38513","url":null,"abstract":"Using novel and primary data on local SMEs belonging to the Portuguese furniture production cluster, this study examines local firms’ strategic responses to IKEA’s entry and its impact on their performance. Local firms seem to respond in diverse ways and implement different strategies to obtain performance gains, leading to an upgrade in size, resources and competences. A differentiation focus strategy is one of the most frequently adopted strategic responses, having a positive and significant effect on the evolution of the local firms’ performance after IKEA’s entry. By contributing towards the knowledge on the strategic responses of firms located in clusters, this study offers an original view on the impact of MNCs’ entry on the SMEs’ strategy of local firms, blending together contributions from different strands of the literature on MNCs, clusters and SMEs’ strategy.","PeriodicalId":52115,"journal":{"name":"Journal of Small Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41916128","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The concept of business exit has been relatively well explored in the literature in terms of publicly traded companies. However, exit from privately held companies has received much less attention. The principal question to be examined by this research is to determine whether or not there is an increase in the transaction price of a privately held firm upon owner exit when a seller carry note is part or all of the consideration. Using a sample of privately held firm sales, we find that the existence of a seller carry note is positively related to a higher transaction price in the sale of these companies. This finding implies a spillover effect that indicates the full risk of carrying the note is not borne by the rate of interest on the note. This information is important to business exit outcomes for owners and managers of these firms as they negotiate the transaction price for their companies and to researchers attempting to increase their understanding of owner exit from privately held business organizations.
{"title":"The INFLUENCE of SELLER CARRY NOTES in TRANSACTION PRICING of SALES of CLOSELY HELD BUSINESS ORGANIZATIONS","authors":"John R. Cooper, Patty B. Cooper","doi":"10.53703/001c.38552","DOIUrl":"https://doi.org/10.53703/001c.38552","url":null,"abstract":"The concept of business exit has been relatively well explored in the literature in terms of publicly traded companies. However, exit from privately held companies has received much less attention. The principal question to be examined by this research is to determine whether or not there is an increase in the transaction price of a privately held firm upon owner exit when a seller carry note is part or all of the consideration. Using a sample of privately held firm sales, we find that the existence of a seller carry note is positively related to a higher transaction price in the sale of these companies. This finding implies a spillover effect that indicates the full risk of carrying the note is not borne by the rate of interest on the note. This information is important to business exit outcomes for owners and managers of these firms as they negotiate the transaction price for their companies and to researchers attempting to increase their understanding of owner exit from privately held business organizations.","PeriodicalId":52115,"journal":{"name":"Journal of Small Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41711966","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The goals of this study are to explore the use of the Management Control Systems (MCS) by SMEs’ managers at the country level in order to identify the importance given to financial and nonfinancial measures, as well as key performance indicators. In this study, we use the behavioral accounting lens and adopt mixed methods approach to study the use of the MCS in Portuguese small to medium enterprises (SMEs): a correlational and a configurational analysis. Data was collected from a cross-sectional survey of 414 top managers of Portuguese SMEs across several industries. The results show that managers’ perceptions of the importance given to financial measures is positively and significantly related to the importance given to several nonfinancial measures. We take an original approach by addressing the managers’ perceptions to contribute to the understanding of Portuguese SMEs’ use of tools for strategy implementation: the use of different MCS. Additionally, the study discovers alternative configurations of individual and organizational conditions that lead to the managers’ perception of the importance given to financial and nonfinancial measures. This paper offers support for SMEs based on controlling strategy implementation by using MCS. The study’s limitations regard a relatively low response rate to the questionnaire (4.56%), which may be justified because data was collected during the COVID-19 pandemic. We offer alternative configurations that generate the perception of managers about the importance of using financial and nonfinancial measures. Our results enlighten the use of such tools in support of strategic accomplishment.
{"title":"SMEs Managers’ Perceptions of MCS: A Mixed Methods Approach","authors":"C. Curado, M. Jesús, N. Bontis","doi":"10.53703/001c.37758","DOIUrl":"https://doi.org/10.53703/001c.37758","url":null,"abstract":"The goals of this study are to explore the use of the Management Control Systems (MCS) by SMEs’ managers at the country level in order to identify the importance given to financial and nonfinancial measures, as well as key performance indicators. In this study, we use the behavioral accounting lens and adopt mixed methods approach to study the use of the MCS in Portuguese small to medium enterprises (SMEs): a correlational and a configurational analysis. Data was collected from a cross-sectional survey of 414 top managers of Portuguese SMEs across several industries. The results show that managers’ perceptions of the importance given to financial measures is positively and significantly related to the importance given to several nonfinancial measures. We take an original approach by addressing the managers’ perceptions to contribute to the understanding of Portuguese SMEs’ use of tools for strategy implementation: the use of different MCS. Additionally, the study discovers alternative configurations of individual and organizational conditions that lead to the managers’ perception of the importance given to financial and nonfinancial measures. This paper offers support for SMEs based on controlling strategy implementation by using MCS. The study’s limitations regard a relatively low response rate to the questionnaire (4.56%), which may be justified because data was collected during the COVID-19 pandemic. We offer alternative configurations that generate the perception of managers about the importance of using financial and nonfinancial measures. Our results enlighten the use of such tools in support of strategic accomplishment.","PeriodicalId":52115,"journal":{"name":"Journal of Small Business Strategy","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41358605","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Giovanna Afeltra, S. A. Alerasoul, E. Minelli, Yari Vecchio, C. Montalvo
Sustainable Development Goals (SDGs) have gained importance and the world is moving on a sustainability trajectory, which requires organisations to balance financial, environmental, and social dimensions of management. Companies are encouraged to adopt sustainable innovations that include resource efficiency, waste reduction, energy use, responsible behavior etc., to overcome environmental issues and incorporate societal aspects. However, the types of innovations that embrace the so-called triple bottom line philosophy have been tenuously investigated in relation to organisational performance of firms. Through an empirical study, this work investigates the relationship between sustainable innovation in its three dimensions and organisational performance, including stakeholder management, human resource management and process measures, in the context of Italian manufacturing companies. The results show that a greater emphasis on sustainable innovations has a positive impact on the organisational performance and competitive advantage of firms, revealing the key role of human capital and portraying important avenues for future research.
{"title":"Assessing the Integrated Impact of Sustainable Innovation on Organisational Performance: An Empirical Evidence From Manufacturing Firms","authors":"Giovanna Afeltra, S. A. Alerasoul, E. Minelli, Yari Vecchio, C. Montalvo","doi":"10.53703/001c.38515","DOIUrl":"https://doi.org/10.53703/001c.38515","url":null,"abstract":"Sustainable Development Goals (SDGs) have gained importance and the world is moving on a sustainability trajectory, which requires organisations to balance financial, environmental, and social dimensions of management. Companies are encouraged to adopt sustainable innovations that include resource efficiency, waste reduction, energy use, responsible behavior etc., to overcome environmental issues and incorporate societal aspects. However, the types of innovations that embrace the so-called triple bottom line philosophy have been tenuously investigated in relation to organisational performance of firms. Through an empirical study, this work investigates the relationship between sustainable innovation in its three dimensions and organisational performance, including stakeholder management, human resource management and process measures, in the context of Italian manufacturing companies. The results show that a greater emphasis on sustainable innovations has a positive impact on the organisational performance and competitive advantage of firms, revealing the key role of human capital and portraying important avenues for future research.","PeriodicalId":52115,"journal":{"name":"Journal of Small Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42703736","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
SMEs’ survival and performance continue to be a central concern for strategy experts. Numerous factors affect the SMEs’ survival for new entrants in the industry. This study incorporates research on the survival and performance of new entrant SMEs in a relationship with initial capital investment, experience, R&D, and innovation culture. We examined the influence of the SMEs’ initial investment, experience, R&D, and innovation culture on their survival and performance guided by the evolutionary model of entry and exit to conclude whether these are positively related to each other. Further, we investigated moderated role of innovation culture between initial capital, experience, R&D, and firm performance. The outcomes of this study established on a large size sample of 337 SMEs suggest that firms with a large initial investment, prior experience, and R&D have higher probabilities of survival and economic performance, and innovation culture strengthens the relationship between predictor and outcome constructs.
{"title":"An Empirical Examination of the Impact of Initial Capital, Prior Experience, and R&D on SMEs’ Survival and Economic Performance: Moderating Role of Innovation Culture","authors":"S. A. A. Bokhari","doi":"10.53703/001c.36937","DOIUrl":"https://doi.org/10.53703/001c.36937","url":null,"abstract":"SMEs’ survival and performance continue to be a central concern for strategy experts. Numerous factors affect the SMEs’ survival for new entrants in the industry. This study incorporates research on the survival and performance of new entrant SMEs in a relationship with initial capital investment, experience, R&D, and innovation culture. We examined the influence of the SMEs’ initial investment, experience, R&D, and innovation culture on their survival and performance guided by the evolutionary model of entry and exit to conclude whether these are positively related to each other. Further, we investigated moderated role of innovation culture between initial capital, experience, R&D, and firm performance. The outcomes of this study established on a large size sample of 337 SMEs suggest that firms with a large initial investment, prior experience, and R&D have higher probabilities of survival and economic performance, and innovation culture strengthens the relationship between predictor and outcome constructs.","PeriodicalId":52115,"journal":{"name":"Journal of Small Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49072948","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aimed to investigate gender-specific differences in internal and external motivation, intention to stay in business and growth aspirations of small business entrepreneurs in the Gauteng Province, South Africa. Furthermore, it aimed at determining if motivation and intention to stay in business predict business growth aspirations. The study adopted a descriptive, single-sample, cross-sectional design. A structured questionnaire was used to collect data from a sample of 298 male and female small business entrepreneurs. The data were analyzed using exploratory factor analysis, internal consistency reliability analysis, descriptive statistics, independent samples t-test and regression analysis. Only one significant difference was observed between males and females and the study variables. Male entrepreneurs displayed a statistically significant higher mean compared to females, indicating that they were more motivated by external factors such as enjoying the direct benefits of higher status and influence in the community, rising to a higher position and proving that they were successful in business. Additionally, it was found that the intention to stay in business was the main predictor of business growth aspiration in both groups. The findings of this study contrast with some prior studies, which indicated that differences exist between male and female entrepreneurs. However, the practical implication of the higher external motivation of males to prove their status, influence, success, and the position may explain why they generally perform better than females. The study provides insights for policymakers in tailoring support for male and female entrepreneurs and provides the impetus for further investigation. The study proved that similarities between male and female entrepreneurs do exist. However, in this study, a notable difference, that males valued external motivation higher, is still present. This increased external motivation to create wealth may explain the greater number of male-run businesses.
{"title":"Motivation and Intention of Small Business Entrepreneurs: A Gender Perspective","authors":"N. Meyer, C. Schachtebeck, C. Nieuwenhuizen","doi":"10.53703/001c.40316","DOIUrl":"https://doi.org/10.53703/001c.40316","url":null,"abstract":"This study aimed to investigate gender-specific differences in internal and external motivation, intention to stay in business and growth aspirations of small business entrepreneurs in the Gauteng Province, South Africa. Furthermore, it aimed at determining if motivation and intention to stay in business predict business growth aspirations. The study adopted a descriptive, single-sample, cross-sectional design. A structured questionnaire was used to collect data from a sample of 298 male and female small business entrepreneurs. The data were analyzed using exploratory factor analysis, internal consistency reliability analysis, descriptive statistics, independent samples t-test and regression analysis. Only one significant difference was observed between males and females and the study variables. Male entrepreneurs displayed a statistically significant higher mean compared to females, indicating that they were more motivated by external factors such as enjoying the direct benefits of higher status and influence in the community, rising to a higher position and proving that they were successful in business. Additionally, it was found that the intention to stay in business was the main predictor of business growth aspiration in both groups. The findings of this study contrast with some prior studies, which indicated that differences exist between male and female entrepreneurs. However, the practical implication of the higher external motivation of males to prove their status, influence, success, and the position may explain why they generally perform better than females. The study provides insights for policymakers in tailoring support for male and female entrepreneurs and provides the impetus for further investigation. The study proved that similarities between male and female entrepreneurs do exist. However, in this study, a notable difference, that males valued external motivation higher, is still present. This increased external motivation to create wealth may explain the greater number of male-run businesses.","PeriodicalId":52115,"journal":{"name":"Journal of Small Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42457513","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates whether an individual’s tendency to maximize when making decisions influences their entrepreneurial intentions, innovation behavior, entrepreneurial alertness, and opportunity evaluation. It is predicted that maximizers will have greater entrepreneurial intentions. Underlying this process, it is predicted that maximizers will report greater innovation behavior and entrepreneurial alertness. Using data from a survey of 253 working professionals in the U.S., hypotheses are tested using multiple regression and mediation analysis. The results suggest that maximizers have higher entrepreneurial intentions, and that this relationship is mediated by their innovation behavior and entrepreneurial alertness. A second study is conducted with a survey of 192 students to explore how maximizers evaluate a specific entrepreneurial opportunity, and how their evaluation influences their entrepreneurial intentions. Using mediation analysis, findings of study 2 suggest that maximizers are more likely to see business opportunities as attractive, which increases their entrepreneurial intentions. The second study also replicates the main results of study 1 in a unique sample.
{"title":"When ‘Good Enough’ Is Not Enough: The Role of Maximizing or Satisficing Decision-Making Styles, Innovation Behavior, and Entrepreneurial Alertness in the Pursuit of New Business Opportunities","authors":"Brandon Soltwisch, D. Ma, Imran Syed","doi":"10.53703/001c.36755","DOIUrl":"https://doi.org/10.53703/001c.36755","url":null,"abstract":"This paper investigates whether an individual’s tendency to maximize when making decisions influences their entrepreneurial intentions, innovation behavior, entrepreneurial alertness, and opportunity evaluation. It is predicted that maximizers will have greater entrepreneurial intentions. Underlying this process, it is predicted that maximizers will report greater innovation behavior and entrepreneurial alertness. Using data from a survey of 253 working professionals in the U.S., hypotheses are tested using multiple regression and mediation analysis. The results suggest that maximizers have higher entrepreneurial intentions, and that this relationship is mediated by their innovation behavior and entrepreneurial alertness. A second study is conducted with a survey of 192 students to explore how maximizers evaluate a specific entrepreneurial opportunity, and how their evaluation influences their entrepreneurial intentions. Using mediation analysis, findings of study 2 suggest that maximizers are more likely to see business opportunities as attractive, which increases their entrepreneurial intentions. The second study also replicates the main results of study 1 in a unique sample.","PeriodicalId":52115,"journal":{"name":"Journal of Small Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42179354","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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