Small Business Dissertation

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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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