Entrepreneurship and Firm Performance in Small and Medium Restaurants
This objective in this research is to examine characteristics of entrepreneur and to appraise firm performance. This aimed to examine the relationship between entrepreneurship and firm performance. Quantitative technique was applied in this research. The sample size of quantitative technique in this research was 385 people who are the owner of restaurants in Bangkok Metropolitan area, Thailand. Research methodology was comprised of data collection and data analysis. For data collection, 25 questions were used in the questionnaire. For data analysis, descriptive statistics and Pearson’s Correlation were applied to find out relationship between independent variables ( proactive defined as X1, risk taking defined as X2, innovative defined as X3) and dependent variables (business growth defined as Y1, service innovation defined as Y2, turnover defined as Y3) to test the hypothesis.
The results suggested that proactive, risk-taking and innovative had a relationship with the business growth, service innovation and turnover. Innovative characteristic had the most positive relationship with service innovation.
Overall entrepreneurs in this questionnaire mostly in the characteristic of innovative person Moreover, service innovation also had a positive relationship with proactive and risk-taking characteristic of entrepreneurs. Adding on value to your customers can lead to bring the satisfaction and expand their royalty for your restaurants which lead you to a better firm performance. Innovative and behave as a proactive in suitable and useable can help earn more benefit to your business growth.
Keywords— Entrepreneurship, Firm Performance, Small and Medium Restaurant.