Strategic Decision-Making in Small Firms: Towards a Typology of Entrepreneurial Decision-Makers

Most changes in firms take place after a decision has been made. Obviously small firms are no exception to this, but how this decision-making process looks like is still an uncharted area of research. There are many studies that focus on the decision-making process of large firms, but only a few pay attention to small firms. The underlying quantitative study investigated the decision-making process in SMEs. Drawing upon a database of 646 firms across eight industries, this paper develops a typology of decision-makers in small firms.