1. bookTom 55 (2022): Zeszyt 2 (May 2022)
Informacje o czasopiśmie
License
Format
Czasopismo
eISSN
1581-1832
Pierwsze wydanie
17 Oct 2008
Częstotliwość wydawania
4 razy w roku
Języki
Angielski
access type Otwarty dostęp

The Interplay of Restaurant SMEs’ Entrepreneurial and Environmental Characteristics, Management of the Requisite Assets, and Operational Efficiency

Data publikacji: 23 Jun 2022
Tom & Zeszyt: Tom 55 (2022) - Zeszyt 2 (May 2022)
Zakres stron: 160 - 177
Otrzymano: 22 Feb 2022
Przyjęty: 17 May 2022
Informacje o czasopiśmie
License
Format
Czasopismo
eISSN
1581-1832
Pierwsze wydanie
17 Oct 2008
Częstotliwość wydawania
4 razy w roku
Języki
Angielski
Abstract

Background/Purpose: SMEs are subject to different factors in the business environments that influence their business performance. Considering the importance of restaurants’ environmental characteristics, entrepreneurs can also, through their entrepreneurial characteristics, influence SMEsʼ management of the requisite assets (MRA). Accordingly, this study examines the influence of restaurant SMEs’ entrepreneurial (self-efficacy, orientation, and demographics) and environmental (location, size, and competition) characteristics on MRA and, consequently, on SMEs’ operational efficiency.

Methods: Primary data relating to the environmental (location, size, and competition) and entrepreneurial (self-efficacy, orientation, and demographic) characteristics were obtained using a survey questionnaire, while the secondary data were obtained from SMEs’ official financial reports. The sample consists of 266 restaurant SMEs in the Republic of Slovenia. Efficiency was analysed using data envelopment analysis (DEA), and structural equation modelling (SEM) was used to test the research model.

Results: The results indicate that environmental characteristics have a much more significant impact on MRA than entrepreneurial characteristics. Entrepreneurial self-efficacy and most demographic characteristics (age, gender, education, and experience) proved not to influence significantly MRA and, consequently, SMEs’ operational efficiency.

Conclusion: SMEs’ external environment is generally not directly influenced by managerial decisions. Therefore, it is critical to strengthen the influence of the internal environment through an active development of entrepreneurial characteristics, which could result in a more effective MRA and higher efficiency. The conclusion provides suggestions for future research and valuable information for entrepreneurs, academia, and policymakers.

Keywords

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