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Small Business Owners' Success Criteria, a Values Approach to Personal Differences

Author

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  • Marjan J. Gorgievski
  • M. Evelina Ascalon
  • Ute Stephan

Abstract

This study of 150 Dutch small business owners, identified through business/network directories, investigated relationships between owners' understanding of success and their personal values. Business owners ranked 10 success criteria. Personal satisfaction, profitability, and satisfied stakeholders ranked highest. Multidimensional scaling techniques revealed two dimensions underlying the rank order of success criteria: person‐oriented (personal satisfaction versus business growth) and business‐oriented (profitability versus contributing back to society). Furthermore, business growth, profitability, and innovativeness were guided by self‐enhancing value orientations (power and achievement). Softer success criteria, such as having satisfied stakeholders and a good work–life balance, were guided by self‐transcendent value orientations (benevolence and universalism).

Suggested Citation

  • Marjan J. Gorgievski & M. Evelina Ascalon & Ute Stephan, 2011. "Small Business Owners' Success Criteria, a Values Approach to Personal Differences," Journal of Small Business Management, Taylor & Francis Journals, vol. 49(2), pages 207-232, April.
    • Handle: RePEc:taf:ujbmxx:v:49:y:2011:i:2:p:207-232
    DOI: 10.1111/j.1540-627X.2011.00322.x
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    Cited by:

    1. Asma Ibrahim Alotaibi & Nada Saleh Badawi, 2023. "Emotional Intelligence and Entrepreneurial Success: An Empirical Study of Entrepreneurs in the Saudi Market," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 12, May.
    2. , 沈德旻, 2019. "偶然力與科學素養對創業成功影響之相關研究," OSF Preprints bym7h, Center for Open Science.
    3. Chu, Irene & Vu, Mai & Adomako, Samuel & Lanivich, Stephen E., 2024. "Human flourishing from eudaimonic balance of values in entrepreneurs," Journal of Business Research, Elsevier, vol. 175(C).

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