Strategic Decision Making of Entrepreneurs within Small High Innovator Firms
International Entrepreneurship and Management Journal, Vol. 2, pp. 261-280, 2006
Posted: 15 Apr 2007
The study examines strategic decision making among entrepreneurs from small firms engaged in early stage commercialisation. It is based on a questionnaire survey of 57 firms and the results suggest that if entrepreneurs within small innovator firms feel the innovation can be commercialised with relatively few obstacles they will tend to downgrade the importance of external advisors. Greater value is placed on the views of customers and where the entrepreneur has the power to proceed with the innovation without recourse to other stakeholders he/she is most likely to go ahead if a positive response is received from leading customers. The article expands upon these findings to outline the design, development and application of a diagnostic assessment and screening tool to assist such entrepreneurs, formulate more systematic strategies than the response to an initial customer.
Keywords: Small Firms, Entrepreneurs, Innovation, Commercialisation, Case Studies, Strategic Decision Making, Diagnostic Assessment
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