Big five personality dimensions (Vecchio, 2003)
1. Need for achievement (importance of parental influences).2. Need for autonomy 3. Locus of control: Internal (control of own destiny)/ external (others control my Destiny)4. Risk taking propensity. 5. Entreperneurial Self Efficacy (ESE)
PHASE 1 start up
Pitfalls (pièges): 1.The owner works for free. 2.Less attention to Financial aspects. 3.Everybody feels responsible, no one is responsible. 4. Too Much excitement. Down to earth!
Skills: 1.Accounting skills . 2.Leadership skills. 3.Capability to slow down
PHASE 2 steadying the ship
1.Less attention for management of the company. 2.Conflicts among Managers and departments. 3.Working in the company instead of working at The company.
Skills: 1.Managerial skills. 2.Able To analyse changes in the business environment
PHASE 3 business consolidation
Pitfalls: 1.The company is too heavy and slow. 2.Too much departments. 3.Conflict between new Staff members and established staff About the company culture
Skills: 1.Managerial skills. 2.Able to analyse changes in the business Environment. Strategic thinking.
Why does being internationally Active increase SME performance?
àreinforce growth à bigger market; make niche market profitable (enough scale)
à enhance competitiveness à more competition makes you stronger
àSupport LT Sustainability à Less dependent of just one Market (and related state of economy)
Better results for internationally active SMEs
1. Create more jobs. 2. More innovative. 3. Import is a stepping stone. 4. Public support goes largely un-noticed.
Distinctive characteristics of Micro & small enterprises with regard to employment relations
·Central role of the entrepreneur (owner, manager, Worker,...)
·Close relation employer-employee (not always Harmonious)
·Employees more visible to employer (and vice-versa)
·Family involvement within the firm and its employment
·Informality of management and lack of procedures
·Distinctive employment characteristics (gender, Education, skills, contracts,...)
·SME’s are more economically vulnerable
Three primary functions of a leader: 1.The achievement of The task.. 2.The building and maintenance of the team. 3.The Support and development of the individual.