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 surveyedfirms. 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 shortcomings 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