Author : Faiza Ali Shahani 1
Date of Publication :19th July 2018
Abstract: The rationale of this paper is to analyze the impact of entrepreneurial knowledge on the organic growth and performance of business managed by family owners and business that are being managed by professionals. Entrepreneurial knowledge can be described as the potential in an individual to identify an opportunity and practically implement it with an intention to realize knowledge that is innovative in practice.This research focuses on evaluating the effect of entrepreneurial education on the growth of business. This research has distinguished between two types of the firms: family firms managed by family owners and firms managed by the professionals with business degree. Restaurants were selected which are owned and managed by people with business or management or other business related degrees; diplomas etc. This was compared with the family business owners who do not have prior relevant knowledge or qualifications. The research also helps to analyze the status of business with respect to multiple factors that are identified from the literature review. In this research data is collected from owners of the restaurants, employees and the customers of the business through close ended questionnaires and is analyzed in SPSS. Pearson’s chi square tests and MANOVA tests are used to compare the land growth and employee growth of businesses owned by family, with businesses that are not family owned. The findings reveal that non-family owned businesses are more productive as compared to the family owned business. It also reveals that entrepreneurial degree and knowledge plays a fundamental role in the organic growth of the business.
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