INTRODUCTIONWhile plays a significant role in successful organizations, it can be argued is even more critical for small businesses. For many small businesses, the loss or gain of a single customer can often determine firm survival. What has become increasingly apparent to researchers is conventional practices are not always available or appropriate for firms. The very fact of their newness means a nascent business venture is more likely to face both uncertain market conditions and limited resources. When pursuing new opportunities with limited resources, the entrepreneur must use innovative approaches in the face of such constraints. While the approaches used by entrepreneurs reflect this innovative orientation, they may vary in their relationship or effect on outcome goals. It is critical that a new venture understand which practices are most effective, and therefore important to achieve a variety of successful outcome goals such as increases in higher profitability or market share. Therefore, the purpose of this paper is to link practices with outcome goals for small businesses.ENTREPRENEURIAL MARKETINGThe term entrepreneurial marketing merges two formerly distinct disciplines and is used to describe the processes of firms pursuing opportunities in uncertain market circumstances often under constrained resource conditions (Morris, Schindehutte, & LaForge 2002; Collinson & Shaw, 2001; Hills, 1987; and Omura, Calantone, & Schmidt, 1993). Entrepreneurial utilizes a big picture perspective and focuses on creative approaches to innovation, risk management, resource leveraging and value creation. The term describes a range of actions and responses small and mid-sized enterprises can employ (Becherer, Haynes, & Helms, 2008). Read, Dew, Sarasvathy, Song, and Wilbank (2009) compared the approach of entrepreneurs versus managers with little expertise and confirmed significant differences exist when in uncertainty. They found managers without expertise relied on predictive techniques, while the entrepreneurs tactics used or non-predictive logic.Beverland and Lockshin (2004) defined as effectual action or the adaptation of theory for the unique needs of small businesses. These actions simultaneously address opportunity, innovation, risk, and resource constraints. For the small business, these actions are the task of the individual owner/operator. Constant attention to is critical to success for newly launched or growing ventures (Hisrich, 1992; Becherer, Halstead & Haynes, 2003; Becherer, Helms, & McDonald, 2012). Simultaneously these decisions also pose some of the greatest challenges to these ventures (Morris, Sehindehutte, & LaForge, 2002; Sarasvathy, 2001; Kirzner, 1997; Stokes, 2000; Carson 2001).Small businesses face specific constraints and are set apart from their larger counterparts that have more longevity and momentum. Thus, there is justification for the adoption of an philosophy (Birley, 1989 & 1982), particularly in highly innovative organizations (Chaston & Mangles, 1999). Gruber (2004) agreed is a major determinant of success in all new firms. Marketing also is rated extremely important by venture capitalists and Chaston (1997) found is more appropriate in smaller firms.Entrepreneurial has been suggested as most effective when environmental change is great and resources are limited (Becherer & Maurer, 1997). Martin's (2009) research also found these distinctions. She compared traditional coiporate to and validated a framework for analyzing practices specific to entrepreneurs. …

Frequency of product use and date of first trial were examined as possible bases for a strategic segmentation framework. The framework was found to be quite useful for identifying early heavy users of four grocery products. Correlates of heavy usage/early trial were also determined.

Green environmental goals play a role in a firm's decision making and goal setting. Large firms typically consider being socially responsible or more environmentally oriented as part of their mission, but are these initiatives the same for small businesses? Surveying a U.S. small business sample, this exploratory study finds firm size and industry type are the two demographic variables related to the importance of environmental business issues in small business decision-making processes. Company Expertise, an internal resource advantage, and the external factors of Competitiveness and 'Environmental Hostility, were found to influence small firms' environmental goals. When examining business outcomes and small firms' satisfaction with achievement of their environmental goals, all measures studied (cash flow, market share, sales, and earnings) were related to having such goals. This study extends the dearth of literature studying small firms and the role of environmentally friendly strategies in these ventures.

This study examines how entrepreneurial marketing dimensions (proactiveness, opportunity focused, leveraging, innovativeness, risk taking, value creation, and customer intensity) are related to qualitative and quantitative outcome measures for the SME and the entrepreneur (including company success, customer success, financial success, satisfaction with return goals, satisfaction with growth goals, excellence, and the entrepreneurʼs standard of living). Using factor analysis, three success outcome variables (financial, customer, and strong company success) emerged together. A separate factor analysis identified satisfactory growth and return goals. Stepwise regression revealed entrepreneurial marketing impacts outcome variables, particularly value creation. Implications for entrepreneurs and areas for research are included.

Customer orientation is considered to be an essential element for small firm success despite relatively little empirical evidence to support such a claim. This research examines the customer orientationperformance relationship among 180 small firms, and the moderating influence of risk-taking, innovativeness, and opportunity focus on that relationship. Results support the overall positive influence of customer orientation on performance and indicate that the influence is stronger as risk-taking, innovativeness, and opportunity focus increase. Interestingly, customer orientation does not positively influence small firm performance under low levels of risk-taking, innovativeness, and opportunity focus.

PurposeThe Caribbean Island of Cuba, only 90 miles from the US mainland, has remained one of the world's few examples of a centralized communist economy since Fidel Castro overthrew the government in 1959. The country has declined in recent years, most significantly since the fall of Cuba's key trading partner and ally, the former Soviet Union. Recently, under the direction of Fidel's brother, Raúl Castro, the island appears to be slowly loosening some restrictions and promoting new venture creation by allowing more private enterprises and forcing laid‐off state employees to consider entrepreneurship. The purpose of this paper is to investigate whether entrepreneurship will be the answer to improving Cuba's economy.Design/methodology/approachUsing Graham's framework of conditions necessary for encouraging entrepreneurship, Cuba is examined with actual observations by the authors after a July 2010 State Department‐sanctioned research trip to observe entrepreneurship within the centralized economy.FindingsFurther enhancements to encourage new venture creation in Cuba are identified, along with areas for future research on new venture creation.Originality/valueThe value of this research lies in the fact that there are many paths to create an entrepreneurial economy in an emerging market. Cuba represents a nascent entrepreneurial economy with many barriers to overcome based upon its legacy of communism. The country and market has seldom been examined and there is a dearth of literature on Cuba and other countries trying to move immediately from communism to capitalism when their economy is in crisis.

Combination courses highlighted in pink: both courses must be taken in order to receive credit for the specific articulated ISU course. If only one course is taken, elective credit will be awarded. Major Elective: Course will transfer as a general elective. Non‐Major Elective: Course will transfer as a general elective. No Credit: Course will not be awarded credit. Specific Course Title: Course will transfer as acceptable substitutions for the identified ISU course. AMALI (Asia, the Middle East, Africa, Latin America, or Indigenous Peoples of the World): This course will meet ISU’s AMALI (formerly known as Global Studies) graduation requirement. BS‐SMT: This course will meet ISU’s Bachelor’s of Science—Science Math and Technology graduation requirement. *NOTE: This must be a course beyond general education requirements. Gen Ed: ISU General Education Program ‐ The appropriate Gen Ed requirement will be listed. IAI ‐ Illinois Articulation Initiative General Education Core Curriculum: The appropriate IAI code will be listed.

Writing business plans is often the first step for entrepreneurs in developing new venture ideas. Trade press publications support their value and include templates or even software for crafting the business plan. However, the academic literature supporting the value of a business plan is limited, particularly on how the plan directly affects entrepreneurs and their standard of living. This study polls a national cross section of owner/operators of small to mid-sized business start-ups in operation less than ten years to determine the value of the business plan for the business, its success and longevity, and even its value, separately, for the founding entrepreneur. Results indicate a relationship between the use of a business plan in start up and the age of the business, its financial success, strong company success, and the achievement of financial return goals. Findings support the link between a business plan and the achievement of an excellent overall organization.

ABSTRACT Entrepreneurial marketing describes a range of actions and responses small to mid-sized enterprises (SMEs) can employ. This study examines how the use of entrepreneurial marketing varies as a result of the experience and motivations of the owner/operator and how the SME was started or acquired. Based on a survey of owner/operators, results suggest that experienced entrepreneurs, while more opportunity driven and able to leverage resources, placed less emphasis on a proactive orientation. Differences in emphasis on aspects of entrepreneurial marketing were found based on owner/operator motivations and means of business acquisition. Implications of findings and areas for future research are discussed. INTRODUCTION While marketing plays a significant role in successful organizations, it can be argued that it is even more critical for small to mid-sized enterprises (SMEs), for which the loss or gain of a single customer can often determine firm survival. What has become increasingly apparent to researchers is that conventional marketing practices are not always available, or appropriate, for entrepreneurial firms. The very fact of its newness means a nascent business venture is more likely to face uncertain market conditions and limited resources. When pursuing new opportunities with limited resources, the entrepreneur must use innovative approaches in the face of these uncertainties. While the marketing approaches used by entrepreneurs reflect this innovative orientation, they may vary across entrepreneurs based upon the extent of their entrepreneurial experience, the motivations for starting the business, and how the business was acquired. ENTREPRENEURIAL MARKETING Merging two formerly distinct disciplines, the term entrepreneurial marketing is used to describe the marketing processes of firms pursuing opportunities in uncertain market circumstances, often under constrained resource conditions (Collinson & Shaw, 2001; Hills, 1987; Omura, Calantone, & Schmidt, 1993). Beverland and Lockshin (2004) define entrepreneurial marketing as effectual action or adaptation of marketing theory to the particular needs of the small business. These effectual actions must simultaneously address many issues: opportunity, innovation, risk, and resource constraints. For the SME, the source of these actions is likely to be an individual owner/operator. Constant attention to marketing is critical to success for newly launched or growing ventures (Becherer, Halstead, & Haynes, 2003; Hisrich, 1992), yet marketing decisions also pose some of the greatest challenges to these ventures (Carson, 2001; Kirzner, 1997; Morris, Schindehutte, & LaForge, 2002; Sarasvathy, 2001; Stokes, 2000). Because SMEs face specific constraints, they are set apart from their larger business counterparts which have more longevity. Thus there is a justification for adoption of an entrepreneurial marketing philosophy (Birley, 1982, 1989), particularly in highly innovative organizations (Chasten & Mangles, 1999). Gruber (2004) agrees that marketing is a major determinant of success in all new firms and is rated extremely important by venture capitalists. Chasten (1997) asserts entrepreneurial marketing is more appropriate in the smaller firm. Entrepreneurial marketing utilizes a big picture perspective and focuses on creative approaches to innovation, risk management, resource leveraging and value creation. The concept of entrepreneurial marketing is a framework encompassing a range of marketing activities the organization will employ, particularly in a turbulent marketing environment. Entrepreneurial marketing has been suggested as most effective when environmental change is great and resources are limited (Becherer & Maurer, 1997). A firm's emphasis on entrepreneurial marketing will tend to vary in intensity based on the stage of organizational development and level of environmental turbulence. …

Internet auctions have become a major aspect of e-Commerce, and one of them, eBay, has become the world's largest person-to-person auction site. This research examines several aspects of eBay auction offerings as they relate to two auction outcomes, the number of "sold'' auctions and the final closing prices. Results confirm some of the previous findings and conclusions regarding auction outcomes, but little support was found for the effects of certain auction characteristics. Suggestions for online auction sellers are provided.

Entrepreneurship and leadership may flow from the same genealogical source and the appearance of separation of the two constructs may be due to differences in the contexts through which the root phenomenon flows. Entrepreneurship and leadership are figuratively different manifestations of the need to create. To better understand the origin of entrepreneurship and leadership, research must first focus on the combinations or hierarchy of traits that are necessary, but perhaps not sufficient, to stimulate the two constructs. Factors that trigger a drive to create or take initiative within the individual in the context of a particular circumstance should be identified, and the situational factors that move the individual toward more traditional leader or classic entrepreneurial-type behaviors need to be understood.

CASE DESCRIPTION The primary subject matter of this case is the formation of a comprehensive wedding center in Kentucky. The case is positioned to present the business formation process and the search for partners and financing for a new business venture. It also involves turning a number of fragmented product and service providers in the wedding industry into a one-stop center, representing a new product/service combination. More specifically, the case deals with the human issues and challenges in selecting among a number of disparate partners and determining their potential equity stake, investment, and obtaining funding for the business. Secondary issues examined in the case include assessing the new venture idea based upon actual narrative among the potential founders and excerpts from their business plan. Students should be able to directly identify with the wedding industry and the young couple in the case. Family business challenges also emerge into the case and the owners struggle to make the decisions necessary to turn their business idea into a reality. The case has a difficulty level of two or three, and is best utilized in a junior or senior-level entrepreneurship, small business, strategic management, marketing of services or product/service development course. This case is very appropriate for undergraduate courses as: 1) students can relate to this industry, 2) the human issues demonstrate the challenges involved in starting a business, 3) and the financial analysis is fundamental and straightforward. It is an excellent case for in-class discussion in a 50 to 75-minute class period and should include debate of alternative issues, particularly when parts B and C of the case (included) are used to follow-up on the main case decisions and actions in the following class meeting. It lends itself to role- playing of the key participants involved, particularly the discussion with the various potential partners over options for structuring the business. The case requires two hours of preparation. CASE SYNOPSIS Julie had long dreamed of starting a wedding center. In her business plan, she wrote: Anchored by an attractive wedding chapel capable of seating 350 people, the complex will include retail shops that offer floral, catering, dresses and tuxes, photography and video, accessories and possibly even a travel agency, beauty salon and jeweler. To complete the offerings, a large expandable reception hall with a complete commercial kitchen and bar will allow the complex to provide every need associated with a complete wedding. Landscaping will be designed to accommodate outdoor weddings, as well as, create a garden setting to the surroundings. With her husband's support and the help of his entrepreneurship professor and her wedding planning colleagues, her dream might become a reality. This case involves a couple's efforts to turn a home-based wedding planning business into a one-stop shopping center offering customers every aspect needed for a complete wedding event. It represents an effort by a recent business graduate to take a business plan developed in an entrepreneurship course from a class project to reality. The proposed center will include wedding planning services, dresses and formal wear, photography, florist and catering services, as well as a wedding chapel and reception facilities. By offering customers the opportunity for one-stop shopping for their wedding, the involved businesses should have a competitive advantage over established concerns that only offer individual components. The case provides a first-hand account of the excitement and frustrations involved in developing an entrepreneurial idea and obtaining financing to turn the dream into an actual business venture. Careful discussion of the case should enable the business students to better understand (1) structuring the deal for a new venture, (2) weighing the pros and cons of both debt and equity financing, (3) vertically and horizontally integrating a fragmented industry, (4) searching for appropriate and acceptable venture partners, (5) personality challenges in running a family business, (6) the personal decisions involved in starting a business, (7) analyzing market potential and assessing a new business venture, and (8) understanding the consequences of poor credit and the importance of conducting due diligence on all potential acquisitions. …

CASE DESCRIPTION The primary subject matter of this case is the formation of a comprehensive wedding center in Kentucky. The case is positioned to present the business formation process and the search for partners and financing for a new business venture. It also involves turning a number of fragmented product and service providers in the wedding industry into a one-stop center, representing a new product/service combination. More specifically, the case deals with the human issues and challenges in selecting among a number of disparate partners and determining their potential equity stake, investment, and obtaining funding for the business. Secondary issues examined in the case include assessing the new venture idea based upon actual narrative among the potential founders and excerpts from their business plan. Students should be able to directly identify with the wedding industry and the young couple in the case. Family business challenges also emerge into the case and the owners struggle to make the decisions necessary to turn their business idea into a reality. The case has a difficulty level of two or three, and is best utilized in a junior or senior-level entrepreneurs hip, small business, strategic management, marketing of services or product/service development course. This case is very appropriate for undergraduate courses as: 1) students can relate to this industry, 2) the human issues demonstrate the challenges involved in starting a business, 3) and the financial analysis is fundamental and straightforward. It is an excellent case for in-class discussion in a 50 to 75-minute class period and should include debate of alternative issues, particularly when parts B and C of the case (included) are used to follow-up on the main case decisions and actions in the following class meeting. It lends itself to role- playing of the key participants involved, particularly the discussion with the various potential partners over options for structuring the business. The case requires two hours of preparation. CASE SYNOPSIS Julie had long dreamed of starting a wedding center. In her business plan, she wrote: Anchored by an attractive wedding chapel capable of seating 350 people, the complex will include retail shops that offer floral, catering, dresses and tuxes, photography and video, accessories and possibly even a travel agency, beauty salon and jeweler. To complete the offerings, a large expandable reception hall with a complete commercial kitchen and bar will allow the complex to provide every need associated with a complete wedding. Landscaping will be designed to accommodate outdoor weddings, as well as, create a garden setting to the surroundings. With her husband's support and the help of his entrepreneurs hip professor and her wedding planning colleagues, her dream might become a reality. This case involves a couple 's efforts to turn a home-based wedding planning business into a one-stop shopping center offering customers every aspect needed for a complete wedding event. It represents an effort by a recent business graduate to take a business plan developed in an entrepreneurship course from a class project to reality. The proposed center will include wedding planning services, dresses and formal wear, photography, florist and catering services, as well as a wedding chapel and reception facilities. By offering customers the opportunity for one-stop shopping for their wedding, the involved businesses should have a competitive advantage over established concerns that only offer individual components. The case provides a first-hand account of the excitement and frustrations involved in developing an entrepreneurial idea and obtaining financing to turn the dream into an actual business venture. Careful discussion of the case should enable the business students to better understand (1) structuring the deal for a new venture, (2) weighing the pros and cons of both debt and equity financing, (3) vertically and horizontally integrating a fragmented industry, (4) searching for appropriate and acceptable venture partners, (5) personality challenges in running a family business, (6) the personal decisions involved in starting a business, (7) analyzing market potential and assessing a new business venture, and (8) understanding the consequences of poor credit and the importance of conducting due diligence on all potential acquisitions. …

ABSTRACT This study examines the diverse strategies small to medium-sized enterprises (SMEs) employ to seek profitability. Three distinct profitability strategies are identified, and these strategies are compared across firms in terms of the geographical scope of operations and industry. Profitability strategies are also correlated with the entrepreneurial marketing dimensions that firms employ to implement them. INTRODUCTION Growth, profitability, cash flow for short-term survival-while all these may at times be critical performance goals for organizations, the drive for profitability may be most important in smaller owner-operated firms. Unlike larger organizations, in these smaller firms small strategic changes can have enormous impact on profitability and survival. The struggle to survive often overwhelms SME ventures, with 1 out of every 10 companies going out of business according to the most recent U.S. Census Bureau data. Moreover, there are many paths to profitability. This study examines the paths to profitability reported by a survey of owner-operated firms. In addition, the use of entrepreneurial marketing actions to support differing profitability strategies will be examined. Paths to Profitability in SMEs All journeys begin with a first step. For the SME seeking profitability, this step must involve defining its arena of operations or game. Beyond this first step, however, SME actions are likely to diverge, since staying on the path to profitability requires firms to adapt their capabilities and practices to the particular selected (Miller & Floricel, 2004). By their very nature, entrepreneurial ventures often leave the usually crowded, beaten path. The motivations and decisions that direct a firm to a different yet particularly well suited path are proactive adaptations and fundamental entrepreneurial behavior (Dess, Lumpkin, & Covin, 1997). Essential to success are the adaptations the SME employs in selecting that path and determining how it is traveled. Such adaptations create a better with a dynamic, challenging environment. Entrepreneurial success results from the union of a market opportunity and a well-crafted business concept, with the fit between the two determining the degree of success. There may be false starts and missteps by SMEs seeking a successful path, with fit not always present from the beginning. However, more adaptive firms that redirect their steps have also been found to be more profitable (Schindehutte & Morris, 2001). Faced with changing market conditions, firms may select a path of innovating with new product/service mixes, of targeting new markets, or of restructuring and reengineering to maintain profits (Mullins & Forlani, 2005; Dickson, 1992, Carpentar & Nakamoto, 1989; Hammer & Champy, 1993). In the SME, the competitive game and profitability path selected are closely linked to the owner/operator who influences the firm directly, rather than through layers of management. The culture and consequent actions of the firm greatly depend upon the attitudes and perceptions of the owner/operator (Miller & Friesen, 1982; Carson & Gilmore, 2000). From the framework of those attitudes and perceptions, the entrepreneur shapes key adaptations, deciding on what opportunity to pursue and how the firm will go about that pursuit. Perceptions influence the choice of opportunity, with entrepreneurs often seeing opportunity where others see little potential (Palich & Bagby, 1995). What may appear to be risk-seeking behavior in a high-risk new venture may actually be a carefully calculated entrepreneurial choice, with entrepreneurs viewing risk taking as part of their job (Mullins & Forlani, 2005). On the selected path, SMEs often encounter resource constraints, challenges that might render the path treacherous and untenable. Adaptations in response to resource constraints can become instead an additional opportunity source, whether from fast and flexible processes to innovative partnerships that leverage available resources (Carson & Gilmore, 2000; Schindehutte & Morris, 2001; Wiklund & Shepherd, 2005). …

The decision-making tactics of small businessowners and the influence of the means of business acquisition on strategicdecision-making are studied. Means of acquisition could be inheritance from thefamily, started from scratch, or purchased as an existing entity. Data were collected on 428 persons who applied for a new business license ina five-county, metropolitan statistical area. Results reveal that, while firmand owner characteristics do influence day-to-day decision-making, the means ofacquisition does not. The opposite was found to be true for long-termdecision-making; that is, personal and firm characteristics do not influencelong-term decision-making, while means of acquisition does. Owners of inherited businesses were found to have less day-to-day andlong-term strategic decision-making involvement than those who started theirbusinesses from scratch or purchased them. Most inherited businesses areacquired passively, often utilizing the pre-existing decision system andrunning the business until a suitable buyer comes along, while self-startedbusinesses are more often run actively with a new decision-making system.(LKB)

ABSTRACT This study makes a contribution to the existing literature on entrepreneurial perception. A model is developed and tested to capture how entrepreneurs perceive the associated with new business ventures. Two variables are examined to assess the entrepreneur's perception of the of risk, and another variable captures the of loss associated with the new business. The individual's prior disposition, referred to here as risk is tested for influence on the magnitude and likelihood factors. The research results confirm the roles of the likelihood of losing money on a new venture and the size of the potential loss in determining how much the entrepreneur perceives in a new venture. These research findings suggest that in order to reduce perceived among perspective entrepreneurs, two issues must be addressed. First, it is important to provide information that assures the entrepreneur that issues that can adversely affect the outcome of the new business venture have adequate contingency plans. Second, raising and allocating capital in stages, rather than the entire amount up front, will reduce the perceived in the eyes of the entrepreneur. INTRODUCTION The literature on entrepreneurial risky decision-making has evolved dramatically over the last decade. Early studies on entrepreneurship evoked the premise that entrepreneurs were de facto seekers who pursued business opportunities others deemed too risky. More recently, cognitive differences involving biases and heuristics have been shown to affect the perception, rather than the propensity, of entrepreneurs in assessing the of new business ventures (Palich and Bagby 1995; Simon, Houghton and Aquino 1999). The role of in entrepreneurship is important to study not only at the individual level to find ways to create reduction strategies, but also at a macro level in understanding similarities and differences across cultures or economies. Variances in both management style (Bjerke 2000) and operational strategy (Sum, Kow, and Chen 2004) among entrepreneurs from different cultures and nations have been recognized. Considering perceptions, Asian entrepreneurs are generally considered to be more risk-averse than entrepreneurs in Western nations (Bjerke 2000). Some research does suggest, however, that entrepreneurs share certain inherent traits despite differences in culture and nationality (McGrath and MacMillan 1992). While some aspects of perception may be part of the predisposition of the individual or influenced by the culture, the environmental context of the economy may also play a role. Tan (2002) for example, found that mainland Chinese exhibited a higher level of willingness to take risks than Chinese Americans or Caucasian Americans. He posited that they need to take a higher level of when starting a new venture due to the harsh governmental restraints they face. The research stream of perception in entrepreneurs, its antecedents, and its consequences continues to develop. Classic decision theory has been the starting point for researchers in identifying and validating direct influences on perceived risk. The venture related variables likelihood and magnitude - have emerged as important influences on the perception of the in a new venture. Likelihood of loss is defined as the probability that a new venture's financial outcome will be less than expected. Magnitude of loss refers to the absolute and relative amount of wealth loss that would result from the new venture failing. Likelihood of loss as a factor influencing new venture is most firmly supported in the classic decision theory and economics literature, while magnitude of loss became apparent in research specifically focused on business decision-making (March and Shapira 1987). The individual entrepreneur's inclination to take risks has also been identified as an influence on perception. …

Strategic management is the domain of upper-level corporate management. The ability to make corporate decisions based on the company's internal strengths and externalities in the macro-environment is a key duty of top management. In small businesses, the business owner or founder generally operates the business and is in a leadership role as the CEO. Are the strategic management and decision-making processes similar for small entrepreneurial businesses? Is the strategic or long-term decision making the same for all entrepreneurs who start their own companies? Does the involvement of top managers in entrepreneurial companies vary in their day-to-day versus their long-term decision making? Small businesses may be inherited from family, started from scratch by an entrepreneur, or purchased as an existing entity. Is the involvement by the small business owner in decision making influenced by the way the business was founded or acquired? The purpose of this exploratory paper is to investigate the decision-making tactics of the small business owner or entrepreneur and to determine the influence, if any, of the means of business acquisition. Discussion and ideas for further research are presented.

Internet marketing is a field that is continuing to grow, and the online auction concept may be defining a totally new and unique distribution alternative. Very few studies have examined auction sellers and their internet marketing strategies. This research examines the internet auction phenomenon as it relates to the marketing mix of online auction sellers. The data in this study indicate that, whilst there is great diversity among businesses that utilise online auctions, distinct cost leadership and differentiation marketing strategies are both evident. These two approaches are further distinguished in terms of the internet usage strategies employed by each group.

Marketing orientation can be described as a culture in which organizations strive to create superior value for their customers (and superior performance for the business) by focusing on customer needs and long‐term profitability. Some studies have found that firms with a high degree of marketing orientation experience improved performance; othershave found mixed or non‐significant results. While all firms are strongly influenced by their external environment, small to medium sized firms (SMEs) may be even more influenced by their own internal culture. The smaller firms are less bureaucratic and more a reflection of their own specific leadership and internal circumstances. The marketing orientation of these firms may in part be determined by such factors as the scope of the business or the managerial style of the president. This study examines the market orientation of SMEs relative to several characteristics of the organization and the managerial style and background of the company president. In addition, marketing orientation is examined relative to company performance in terms of both change in sales and change in profits. The results of this study confirm some earlier research on marketing orientation and provide some new insights and questions on this important strategic dimension.