Transforming an idea into a strategic decision in SMEs

Entrepreneurs in small and medium sized firms (SMEs) are dynamic when it comes to decision-making. 65% of the interviewed entrepreneurs in our sample took an important decision in the last three years or will take an important decision in the near future. In this report we investigated the stages and crucial moments in the decision-making process of SMEs. By means of two extensive pilot studies we developed a model, distinguishing three stages and two moments in the decision-making process.