Entrepreneurial Capability and Entrepreneurial Success of Small and Medium Enterprises: A Review of Conceptual and Theoretical Framework

Abstract

The incidence of business failure especially in the small and medium enterprises sector is on the increase. This calls for more empirical research to investigate entrepreneurial factors to address business failure. Since the person behind the successful performance is the entrepreneur himself, his capabilities express in terms of entrepreneurial orientation and entrepreneurial competencies become the most important factors to investigate to ensure business successful in a constantly changing or dynamic business environment. This paper provides a review of conceptual and theoretical frameworks on entrepreneurial orientation and entrepreneurial competencies for empirical research on entrepreneurial success factors.

Keywords: Entrepreneurial success, entrepreneurial orientation, entrepreneurial competencies, small and medium enterprises.