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The strategic issues management by small businesses in the Mamelodi metropolitan areasTshabalala, Daniel Bonginkosi 31 July 2007 (has links)
No abstract available / Business Management and Entr / M. Tech. (Business Administration)
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A framework for determining a business strategy of a small businessVan Niekerk, Daniel 03 1900 (has links)
Thesis (MBA)--Stellenbosch University, 2007. / ENGLISH ABSTRACT: There is a growing need for a framework that explains the important steps in creating
and managing a small business in a very simplistic, flexible and holistic way. The
aim of this research report is to design a framework which will guide the entrepreneur
and small business owner in the set-up and management of a small business.
The research report explores the logic of constructing the framework. It starts with the
core business transactions which justify the existence of the business. For a better
understanding of the interactions in the transactions, a system approach is followed.
Dynamic complexities focus on causality and feedback to describe how entities
influence each other. A growth loop is established with a balancing loop. On the
basis of these interactions the framework is constructed with the product and the
market on opposite sides. From the product there are growing actions in the form of
marketing. From the market a condition is created which is measured in financial
terms. These interactions are the core of the framework. A second level is added with
strategic intent and external analysis to indicate direction and to measure the
market's response.
The research report continues to describe the development of a small business in
terms of the three layers of the framework: transaction, basic business level and
extended business level. The transaction indicates the core and the reason for the
business's existence. It is a description of the value exchange process. The basic
business level is the platform in which the business is operating. The extended
business level is how the platform is used. For each of the entities indicated on the
framework an existing business model is used to explain the area. The framework is,
therefore, not presenting a new model, but only a new way of how existing business
models are related to each other.
The framework can be used in various ways. First it can be used to establish a startup
business by building it step by step from the inner layer to the outer layer.
Secondly it can be used to evaluate an existing business. Each part of the business
can be evaluated and determine whether the necessary structures are in place.
Thirdly it can be used for a turn-around on a struggling business. To do it means first
.
to evaluate the business and then use the framework to build the business structure.
To assist in this process of evaluation and building a business structure, a set of
worksheets are presented in the study to help an entrepreneur to think through every
important step of the business.
To test the above assumption that the framework can support the construction of a
business structure, a small business was selected and evaluated. The evaluation
was done in the format of an interview with the owners and the structure of the
framework was followed.
The study is concluded with recommendations on areas that need further research.
The worksheet I guideline recommendation is that the worksheets and guidelines be
developed with a specific aim in mind, for example design a new business or
evaluate an existing business. The application recommendation is to explore the use
of a rating system to do a quick evaluation of the business based on the
entrepreneur's "gut feeling". The structural recommendations are first to explore
strategic mapping to summarise the results of the design or evaluation into an
existing model. The second recommendation is to investigate the development of the
different entities in the framework in line with the business life cycle and thereby
adding a depth dimension to the framework. / AFRIKAANSE OPSOMMING: Daar is 'n groeiende behoefte na 'n raamwerk wat die belangrike stappe om 'n klein
besigheid te skep en te bestuur, in 'n baie simplistiese, buigsame en holistiese
manier verduidelik. Die doel van die navorsingsverslag is om 'n raamwerk te ontwerp
wat die entrepreneur sal lei in die opstel en bestuur van sy besigheid.
Die navorsingsverslag gee aandag aan die logika hoe die raamwerk saamgestel
word. Die raamwerk bestaan uit die kern besigheidstransaksie wat die bestaan van
die besigheid regverdig. Om die interaksies in die transaksie beter te verstaan, word
'n stelselbenadering gebruik. Dinamiese kompleksiteite fokus op oorsake en die
terugvoer hoe verskillende entiteite mekaar beinvloed. 'n Groeiende sirkelaksie en 'n
uitbalanserende sirkelaksie word gevolg. Op grond van hierdie interaksies is die
raamwerk geskep met die produk en die mark aan teenoorgestelde kante. Van die
produk is daar 'n groeiende aksie na die mark in terme van bemarking. Van die mark
is daar 'n terugvoeraksie na die produk in terme van finansiele maatstawwe. Hierdie
inleraksies vorm die kern van die raamwerk. 'n Tweede vlak word bygevoeg in die
vorm van strategies voorneme en eksterne analise om rigting aan te toon en die
mark terugvoer te meet.
Die navorsingsverslag gaan voort om die ontwikkeling van 'n klein besigheid te
beskryf in terme van die drie vlakke: transaksie, kern besigheidvlak en uitgebreide
besigheidvlak. Die transaksie toon die kern en die rede vir die besigheid se bestaan
aan. Dit is die beskrywing van die waarde uitruilingsproses. Die kern besigheidsvlak
is die platform waarop die besigheid funksioneer. Die uilgebreide besigheidsvlak is
die manier hoe die besigheid die platform gebruik. Vir elk van die entileite wat in die
raamwerk aangetoon word, word 'n bestaande besigheidsmodel gebruik om die
detail te verduidelik. Die raamwerk moet daarom nie gesien word as 'n nuwe model
nie, maar net as 'n manier hoe bestaande besigheidsmodelle in verhouding tot
mekaar staan.
Die raamwerk kan in verskeie maniere gebruik word. Eerstens kan dit gebruik word
om 'n aanvangsbesigheid stap-vir-stap volgens die verskillende vlakke in die
raamwerk te bou. Tweedens kan dit gebruik word om 'n beslaande besigheid te
evalueer. Elke deel van die besigheid kan beoordeel word en so bepaal of die nodige
strukture in plek is. Derdens kan dit gebruik word om 'n omkeer op 'n sukkelende
besigheid te doen. Om dit te doen sal beteken om eerstens 'n evaluasie te doen op
grond van die raamwerk en dan die nodige strukture te bou of herbou. Om die
proses van bou en herbou te ondersteun stel die studie werksblaaie voor wat gebruik
kan word. Die doel hiervan is om die entrepreneur se denke deur die belangrlkste
stappe te lei.
Om die bogenoemde aanvaarding te toets dat die raamwerk gebruik kan word om
die bou van 'n besigheidstruktuur te ondersteun, was 'n klein besigheid geselekteer
en ge-evalueer. Die evaluasie was gedoen in die vorm van 'n onderhoud met die
eienaars en die struktuur van die raamwerk was gebruik.
Die navorsingsverslag word afgesluit met aanbevelings oor areas wat verdere
ondersoek nodig het. Die werksblaaie en riglyne aanbeveling is dat die werksblaaie
en riglyne vir 'n spesifieke doel ontwerp word, byvoorbeeld die ontwerp van 'n nuwe
winkel of die evaluasie van 'n bestaande winkel. Die aanwendingsaanbeveling is om
'n evalueeringstelsel te ontwikkel waar 'n evaluasie gegrond op 'n entrepreneur se
aanvoeling kan plaasvind. Die struktuuraanbevelings is om eerstens strategiese
kaartering te ondersoek om die resultate van die ontwerp of evaluasie in 'n bestaande
model op te som. Die tweede aanbeveling is om die ontwikkeling van die
verskikkelende entiteite van die raamwerk in Iyn met die besigheidslewensiklus te
ondersoek en sodoende 'n diepte dimensie by die raamwerk te voeg.
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Development of a critical success factor assessment for small organisationsMaritz, Anna-marie 03 1900 (has links)
Thesis (MBA)--Stellenbosch University, 2001 / ENGLISH ABSTRACT: Small businesses are the traditional source of local and national economic
growth. Small businesses in South Africa absorb almost half the people formally
employed in the private sector and contribute nearly thirty seven percent to the
country's gross domestic product. Unfortunately small businesses also have the reputation of a high failure rate some literature quote figures as high as sixty six percent of all small businesses
within the first six years of their existence. An Australian survey indicated that nearly sixty five percent of all business
failures were caused by controllable factors, which implicates that the use of
consultants, or simply better management of the small business, could have
prevented the failure. This study explains why small business owners are so
reluctant to make use of outside consultants and looks into the most common
causes of small organisation failure.
This research project is designed as an incremental development study, where
an existing model is adjusted to focus on a smaller nische market. A consulting
model, developed to use in large organisations, was evaluated by identifying the
problem areas that most often cause small organisations to fail and then
comparing them to the areas addressed in the existing model. The conclusion reached was that although this model will definitely help small business owners
to improve their businesses, it doesn't address the mest common causes of
small business failure and adjustments is needed to customise this product for
the small organisation.
Based on the available data on the most common causes of small organisational
failure, a new model is developed, which addresses the specific causes of small
organisation failure.
The new model gives examples of what would be in place in an organisation
where the relevant critical success factor is successfully implemented as well as
examples of what the situation will be if the relvant factor is absent. The small
business owners evaluate themselves on a scale of one to ten. The model has a
dual purpose, firstly to create an awareness with the owner of the full spectrum
of factors that need to receive attention in a small organisation, and secondly to
give a benchmark against which progress on each of the critical success factors
can be measured. / AFRIKAANSE OPSOMMING: Klein besighede vorm die ruggraat van die Suid Afrikaanse ekonomie, met byna
sewe-en-dertig persent van die Bruto Nasionale Produk (BNP), wat aan klein
besighede toegeskryf kan word en as werkverskaffer aan bykans die helfte van
alle werknemers wat formeel in diens is van die private sektor. Ongelukkig het
klein besighede ook die reputasie van 'n groot mislukkingskoers met mislukkings
so hoog as ses-en-sestig persent van alle klein besighede in die eerste ses jaar
van die ondernemings se bestaan.
'n Australiese studie het getoon dat ongeveer vyf-en-sestig persent van die
oorsake van klein besigheid mislukkings aan beheerbare faktore toegeskryf kan
word. Met ander woorde hulp van konsultante, of bloot beter bestuur van die
klein besigheid, kon die mislukking verhoed het. Hierdie werkstuk kyk na redes
hoekom konsultante so min deur klein besighede gebruik word en na die mees
algemene oorsake van klein besigheid mislukkings.
Die werkstuk neem die vorm aan van 'n inkrementele ontwikkeling studie waar 'n
reeds bestaande evaluasie model, aangepas word om te fokus op 'n kleiner
nismark. 'n Konsultasie model, wat ontwikkel is vir gebruik in die diagnostiese
fase van die konsultasieproses vir groot besighede, is ondersoek en daar is
gekyk watter van die mees algemene faktore vir klein besigheid mislukking in hierdie model aangespreek is. Die gevolgtrekking was dat alhoewel die model
definitief klein besigheids eienaars sal help om hul organisasies te verbeter, dit
meeste van die oorsake vir mislukking in klein besighede nie direk aanspreek
nie, en dat aanpassings van die model nodig is.
Gebasseer op reeds bestaande navorsing oor die oorsake van klein besigheid
mislukkings, is 'n nuwe model ontwikkel, wat spesifiek gerig is daarop om die mees
algemene oorsake van mislukking aan te spreek.
Die hersiene model gee voorbeelde van wat in plek sal wees in 'n organisasie
waar die kritieke suksesfaktor suksesvol geimplementeer is asook voorbeelde
van hoe die situasie daar sal uitsien indien die relevante faktor afwesig is. Klein
besigheidseienaars evalueer hulself op 'n skaal van een tot tien. Die doel van die
model is tweeledig, eerstens om die eienaar attent te maak op die volle omvang
van faktore waaraan aandag gegee moet word, en tweedens om 'n riglyn te bied
waarteen vordering op elkeen van die kritieke sukses faktore gemeet kan word.
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Determinants of Small Firm Performance: the Importance of Selected Managerial Personality Traits, Perceived Environmental Uncertainty, Scanning Activities, and Managerial Goal Setting ActivitiesWalker, Jim L. 05 1900 (has links)
Much of the previous research on organizational performance deals with the larger businesses. As such, the owner/managers of small firms and researchers interested in small businesses have had to work with planning models which were not formulated with small businesses in mind. Therefore, the general purpose of this study is to help correct this deficiency and add to the body of knowledge concerning the contributions specific factors make toward increasing the performance of small firms. Specifically, selected managerial personality traits, managerial perceived environmental uncertainty, managerial scanning habits, and managerial goal setting activities are utilized to develop three models. The three models are used to determine the relationship the factors have to each other and the contribution the variables make toward the performance of the firm. The firms included in this study are located in a South Central metropolitan area. The firms have between 2 and 100 employees, sales of less than 3 million dollars, and have been in operation 2 years or longer. This study utilizes regression analysis and path analysis to determine the effects the factors have on each other and their contribution to the firm's performance. The Statistical Package for the Social Sciences (SPSSx) is utilized to run the regression analysis. An Analysis of Linear Structural Relationships by the Method of Maximum Likelihood (LISREL) is utilized for the path analysis. Using path analysis, the third model demonstrates a total coefficient of determination for structural equations of 0.09. However, only two of the four factors have a t value of 2.0 or greater. The study also indicates the personality trait of dogmatism is inversely related to managerial scanning -.349 p <.01. Perceived environmental uncertainty is negatively correlated to performance at -.215 p <.05. None of the remaining factors demonstrated significant relationship to the firm's performance.
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Strategic planning and its relationship with the performance of small and medium-sized enterprises in Gauteng ProvinceSandada, Maxwell 10 1900 (has links)
D. Tech. (Logistics, Faculty of Management Sciences), Vaal University of Technology. / and medium sized enterprises (SMEs) are the mainstay of economies and societies of many countries around the world. These enterprises are critical to the economy because of the way in which they contribute to the Gross Domestic Product, export revenue generation, innovation, the provision of goods and services thatlarge enterprises depend upon, and the creation of employment opportunities, social stability and improvement of economic welfare.
SMEs operate within the economic environment characterised by volatility, dynamism and competitive markets that may seriously threaten their survival. In South Africa, the operating environment for SMEs is constantly changing in the face of a volatile economic environment and a highly competitive market. For SMEs to weather the storm of such volatility and competitive climate, they need to engage in strategic planning processes.
While strategic planning research in large organisations has been studied extensively, little attention has been paid to strategic planning of small and medium sized enterprises. Strategic planning has not significantly filtered down to the SME sector. SMEs which practice strategic planning have plans, which are unstructured, less comprehensive and sporadic.
There is little evidence of empirical research that has sought to evaluate strategic planning within the sphere of small business research. Therefore, despite the widespread recognition of the importance and significant contributions of SMEs, research on these small businesses remains scarce. There is need for more systematic research aimed at revealing the true nature of strategic planning in SMEs. Despite the contributions of a number of researchers in the field, there is still no universal agreement as to the impact of particular types of planning on SME performance. The study analyses the relationship between strategic planning and the performance of SMEs. It is unique in that rather than using the traditional objective performance measures, subjective measures are used to measure the performance of SMEs.
The objective of this study was to establish the relationship between strategic planning and the performance of SMEs measured by perceptual measures of business performance. It also sought to ascertain the relationship between strategic planning and the plans of the business, as well as determining the relationship between business performance and its plans. Another objective was to examine the extent to which SMEs in South Africa have adopted the strategic planning practices. Finally, this study sought to determine if there are differences in strategic planning practices with regard to demographic variables, namely gender, age, and position occupied in the business. A quantitative method was used. Surveys were conducted with 415250 SMEs, which were identified by convenience sampling method. Data from owners/managers of these SMEs was collected using self-administered structured questionnaires. Factor, correlation and regression analyses were conducted and the findings were discussed.
The main components of strategic planning include environmental scanning, business mission and vision, formality of strategic planning, employee participation in the strategic planning process, source of information about the environment, strategy implementation incentives, monitoring, evaluation and control, and time horizon of strategic planning. The finding of this study shows that there is a positive causal relationship between strategic planning and the performance of SMEs measured by perceptual measures of business performance. It was also found that there is a mixed relationship between strategic planning and future plans of the SMEs. An additional finding is that business performance has a positive relationship with the plans of the business. The results also indicate that the majority of SMEs practice strategic planning. Finally, the results reveal that the gender, age and occupation of the respondent do not influence the strategic planning practices in SMEs. The only strategic component that depends on the occupation of the respondent is the use of mission and vision statements. Given that today’s business environments for SMEs are characterised by high levels of competition, uncertainty and turbulence, it is recommended that SMEs should adopt more strategic planning practices so that they can make informed decisions. In order to ensure their success and sustainability, SMEs should scan the environment more frequently and seriously than they currently do.
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Využití informací manažerského účetnictví v malých podnicích (na příkladu konkrétní firmy) / Application of management accounting elements in small business segment (on the example of particular company)Andronava, Dziyana January 2010 (has links)
In my thesis I am focusing on the possibility of using elements of management accounting in small and medium-sized businesses, on a particular production company. The target is to show, how using elements of management accounting help to develop quality information system in the company. Generally is considered that management accounting is a tool for managing complex and large enterprises. This leads, that this information is used in a few small businesses. Owners of small businesses are afraid that the information system for managing their business is expensive, and often do not have knowledge of economic management and information support. I feel that it applies to the company of my parent as well. My goal is to evaluate the current state of managing company of my parents, with an emphasis on tools and information of management accounting, which will provide better information support, and system of information that will ensure the necessary information to the development of the company.
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The impact of integrating entrepreneurship education in a real estate degree programme on entrepreneurship intentMasia, Karabo January 2017 (has links)
Thesis is submitted in partial fulfilment for the degree of M.Sc. (Building) in Property Development to the Faculty of Engineering and the Built Environment, School of Architecture and Planning at the University of the Witwatersrand, Johannesburg, 2017 / The lack of entrepreneurship is an obstacle to economic development. In South Africa (SA),
disciplines are taught in a context that is enterprise-based, with no emphasis on the need to impart
business start-up skills within specific disciplines. A culture of entrepreneurship is lacking, resulting
in low records of entrepreneurship incidents in SA.
The challenges and/or benefits of integrating entrepreneurship education within the South African real
estate (RE) course and its effects on graduates’ entrepreneurial intent, is not well understood. The
purpose of the research is to investigate whether the introduction of entrepreneurship education within
the RE discipline would encourage graduates to become entrepreneurial in the practice of real estates.
A mixed methodology approach has been used in this research. Primary and secondary research data
has been made available in the form of questionnaire surveys of graduates and course
directors/lecturers from the University of the Witwatersrand and other international universities that
have entrepreneurship education embedded within their real estate programmes, as will be selected by
the researcher.
The research has found that both pedagogical strategies of course work and applying experiential
learning teaching methods would be required to effectively integrate entrepreneurship education
within a real estate programme in a manner that would stimulate graduates to be entrepreneurial in the
practice of real estate, although it was not known whether the graduates would actually start
businesses and when they intended to do so. It was also found that those students whose studies took
place in real estate programmes that had entrepreneurship education embedded in them were more
commercially aware. The integration of entrepreneurship education also resulted in an improvement
of graduate self-esteem and confidence. Graduates were endowed with adequate professional,
interpersonal, technical and business skills. The research, however, found the majority of real estate
courses lacked in teaching graduates to be more versatile. The courses largely lacked in the provision
of industry exposure and were inadequate in teaching graduates how to market themselves and their
real estate businesses. According to the findings on the individual entrepreneurship test, graduates that
studied entrepreneurship-based real estate courses had a higher probability of starting a business. / MT2018
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Estudo dos fatores contribuintes para a mortalidade precoce de micro e pequenas empresas de São Paulo / Study of the factors associated to the early failure of the small companies in São PauloFilardi, Luis Fernando 21 September 2006 (has links)
O objetivo principal deste trabalho foi identificar, descrever, classificar, analisar e apresentar os fatores contribuintes para a mortalidade precoce de micro e pequenas empresas de São Paulo. A metodologia de pesquisa utilizada buscou analisar os dados disponibilizados pela junta comercial do Estado de São Paulo - JUCESP sobre extinção de empresas, e com base neste levantamento descobrir quais são os fatores contribuintes para a mortalidade destas empresas. Foram adotadas, como ponto de partida, algumas hipóteses definidas a priori às quais foram submetidas aos testes para verificar se alguns fatores contribuem ou não para a mortalidade precoce das empresas nos primeiros anos de atividade. As hipóteses foram testadas e como resultado da pesquisa foi gerado um conjunto de conclusões e recomendações gerenciais destinadas a reduzir taxas de mortalidade precoce de novas empresas no Brasil, aumentando assim as possibilidades de sucesso de novos empreendimentos. / The main objective of this research is to identify, describe, classify, analyse and present the factors that contributed to the early failure of the São Paulo small companies. The methodology was focused on the analysis of São Paulo commercial office data about business failure, and researching deep in this survey discover the factors relationed to the early failure of this companies. As a kick-off was adopted some hipothesis that could be related to the factors relationed to the early failure in the first three years of activities. The hypothesis was tested and the results of this thesis produced a list of conclusions and management advices that probably can reduce the early failure taxes in Brasil, lifting the success possibilities to the start ups.
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Perception on limitations of mentorship programme for emerging contractors against its effective implementation in the Western CapeLufele, Sikhumbuzo Christian January 2019 (has links)
Thesis (Master of Construction Management))--Cape Peninsula University of Technology, 2019. / This study evaluates both the Contractor Development Programme (CDP) mentorship programme and the emerging contractors’ personal limitations in achieving a successful programme implementation. The objectives of the study were as follows: (i) to ascertain whether the perception of limitations of the mentorship programme differs in accordance with contractor’s profile; (ii) to ascertain whether there is any statistically significant difference between the profiles of contractors with regard to the perception on mentorship programme limitations; (iii) to ascertain whether the perception of limitations of the contractors’ personal limitations differs in accordance with contractor’s profile; (iv) to ascertain whether there is any statistically significant difference between the profiles of emerging contractors with regard to the perception on personal limitations. The study adopted a quantitative research method which was preceded by an exploratory study. The study targeted emerging contractors in the Western Cape. The exploratory study was undertaken at the initial stage of the study to gain more insight in terms of the impact of limited contracting opportunities for emerging contractors on the Western Cape CDP mentorship programme. The data was collected by means of conducting semi-structured interviews to purposely selected emerging contractors, and was subsequently transcribed and analysed using content analysis. With regard to the main study, the questionnaire survey with closed-ended questions was distributed to the population of 16 emerging contractors with CIDB grade 3 and 5. The descriptive and inferential statistics were used to analyse the main study. The study has uncovered a number of gaps in terms of the implementation processes of CDP mentorship programme. In regard to the mentorship programme limitations: The findings have revealed the use of ineffective recruitment and selection methods, the lack of training projects for contractors to tender, the lack of MOUs between the banks and the Western Cape CDP to ease access to credit, the lack of continuity in terms of mentoring services, the failure to evaluate contractors when they enter the mentorship programme, failure to monitor contractors’ development during mentorship, the failure to evaluate contractors when they exit the mentorship programme. In regard to the emerging contractors’ personal limitations: The findings have discovered the lack of tendering skills among contractors, lack of skills in interpreting construction drawings, the lack of planning for construction projects, the lack of estimation, and the lack of negotiation skills with material and plant suppliers. The research concludes by recommending that the Department of Transport and Public Works should review the entire mentorship programme. This will be achieved by appointing a business development practitioner to re-design and re-structure the entire mentorship programme so that it can be able to attract and select suitable contractors while meeting the governments’ objective of developing and promoting of emerging contractors in the construction industry.
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Modelo conceitual de jogos de empresas para empreendedores do século XXI / Conceptual Model of Business Games for 21st Century EntrepreneursRosas, André Rosenfeld 28 November 2006 (has links)
A presente pesquisa descreve a elaboração do modelo conceitual de um simulador para jogos de empresas que visa oferecer formação prática a empreendedores, estimulando-os a criar negócios na perseguição de oportunidades. O Empreendedorismo é visto como o motor da Economia, segundo a clássica visão de Schumpeter, publicada em 1911. Compõe-se de um meta-modelo, que consolida conceitos recorrentes na literatura, e de um diagrama de influência, que representa as inter-relações entre incertezas, decisões e suas conseqüências presentes no processo de criação de um negócio sustentável. As principais decisões foram identificadas na literatura internacional e, em seguida, organizadas em quatro grupos: 1) posicionamento no mercado, 2) finanças, 3) equipe de trabalho e rede de contatos, e 4) aspectos formais e legais do negócio. Para apoiar a pesquisa bibliográfica, foram realizadas entrevistas internacionais e nacionais com professores e pesquisadores no tema, tendo como meta a adequação do modelo à realidade brasileira. A versão final do modelo é composta por 19 decisões, 13 incertezas e três conseqüências, sendo oito destas decisões não cobertas pelos dois simuladores identificados na literatura internacional (TEG e DEAL). Foram então discutidas as diferenças do empreendedorismo nos contextos brasileiro e norte-americano, além das distinções entre os modelos do século XX e século XXI. Esta pesquisa traz uma importante contribuição: a construção de um modelo com uma declarada preocupação metodológica para publicação no meio acadêmico. A modelagem terá continuidade, tanto pelo exame de outros estágios do ciclo de vida da empresa (crescimento e maturidade) quanto pela elaboração dos modelos matemático e computacional para aplicação e teste. / This research describes the creation of a conceptual model of a business game simulator for entrepreneurial education in order to stimulate entrepreneurs to pursue business opportunities. From Schumpeter's point of view, published in 1911, Entrepreneurship is the engine of an Economy. The model consists of a meta-model, organizing the most cited historical concepts of entrepreneurship, and of an influence diagram, describing the relationships among uncertainties, decisions, and its consequences present on the start-up stage of an organization life cycle. The main decisions identified in important books and research papers were organized in four groups: 1) market positioning, 2) financing, 3) internal people and networking and 4) formal and legal issues. International and national interviews with professors and researchers were performed in order to support the literature review and to include the Brazilian context in the model. The final version of the model is composed of 19 decisions, 13 uncertainties and three consequences. Eight new decisions are not covered by the two business game simulators published in the international literature (TEG and DEAL). The final discussion focuses on differences between entrepreneurship in Brazil and US and between 20th and 21st Century' models. The main contribution of this study for the literature is the creation of a model based on research methods and publication for academic purposes. The modeling process will be continued in two directions: 1) the new stages of the life cycle model (growth and maturity), and 2) the mathematical and computerized models for implementation and test.
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