Entrepreneurial Behaviour in Periods of Deterioration of Small Firms' Condition

Abstract

Objective: The aim of the paper is to indicate types of entrepreneurial behaviour which should be triggered during periods of deterioration of small firms' condition.

Research, Design & Methods: The study concerned the causes and symptoms of economic failure identified along the trajectories of this phenomenon. The paper uses selected parts of the study related to the non-occurrence of entrepreneurial behaviour or errors in this behaviour identified in the surveyed firms. The entire study was conducted based on the analysis of 32 case studies carried out among the former entrepreneurs  of  micro  and  small  firms  liquidated  in  the  period  from  01.01.2006  to 31.12.2011.

Findings: The  study  helped  to  identify  shortcoming  in the entrepreneurial  process along individual trajectories of economic failure of the surveyed companies.

Implications & Recommendations: As a result of the conscious  entrepreneurial  process, small firms have the opportunity to leave the trajectory of economic failure, indicated by the deteriorating condition of the company.  It is therefore necessary to develop knowledge concerning the entrepreneurial processand entrepreneurship among managers of small firms.

Contribution & Value Added: According to the author, one of the key factors affecting the survival of small businesses in the period of deterioration of their condition is the initiation of the entrepreneurial process and/or its deliberate continuation. It seems quite natural to base components of this process on the existing support tools for entrepreneurs that are at risk of economic failure.

Keywords

entrepreneurial process, economic failure, small firms, entrepreneurial behaviour, firm's survival, entrepreneurship, trajectories of economic failure

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