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
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11. Competitive Aggressiveness…………………………………………………………………………………14-15
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13. Small business obstacles and recent growth trend…………………………………………….…15-18
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2.8 Management
Therefore it is more imperative to concentrate on analysing the failure factors in order to help the existing and new small businesses circumvent the common business mistakes, and to assist in stabilising and improving the UK’s economy. The current management development relates to micro and small enterprise, and owner/ manager’s perception of the role of management development in the running of their companies. Entrepreneur’ characteristics orientation, personality and the way they manage the business can shape their companies performance. These characteristics can consist of Entrepreneurial Orientation. This research examines the sustainability of the Entrepreneurial orientation that could effect the way that microbusiness and small owner’s operate the business; i.e., whether EO affects business performance. Analysing the Entrepreneurial orientation factors between microbusiness owner (up to 10 employees) and small firm top management team (up 50 employees). The issue of linking the character traits of an individual to the success of a business needs to be approached with caution because it is not always possible to link the individual to the success or failure of the venture (H. Frank and A.Kessler, 2010). The character of the owner is just one factor. Success or failure in business comes from a mix of many of things including the history