1. Introduction
Over the years, the importance of SMEs has lain in the role they have played as a driving force in employment and in their contribution to better development and economic growth in many countries; therefore, it is advisable to continue promoting their creation in various sectors (
Palomo González 2005). In addition to generating jobs and boosting the economy, they are also able to adapt to different aspects, whether technological or social, thus achieving better performance (
Delgado Delgado and Chávez Granizo 2018).
Few SMEs are successful and manage to stay in the market for years. Some of them become large, competitive, and productive companies (
Saavedra García et al. 2018;
Atristain and Rajagopal 2010) and generate significant economic income (
Jiménez Martínez 2007;
Gonzales 2011;
Chong et al. 2019). Entrepreneurs focus on achieving the legal requirements that regulate SMEs in order to preserve profits, but at the same time limit their growth (
Tsuruta 2020). Along with the above, SMEs have other impediments to their competitiveness and growth, such as lack of capital and skills (
Maksum et al. 2020), basic and traditional use of technology (
Mohd Selamat et al. 2020), as well as others. For this reason, these companies have been studied from different perspectives and approaches, and by numerous countries.
1.1. SMEs and Their Areas of Study
For improvement to occur in an SME, it is necessary to know its business orientation and objectives, and thus implement strategies by examining their effects (
Felzensztein et al. 2015) with a positive implementation directed towards performance (
Butkouskaya et al. 2020). To achieve this, it is important to have learning perspectives at all organizational levels (
Brettel and Rottenberger 2013;
Altinay et al. 2016); to be clear about the importance of an external orientation that seeks to drive the benefits of organizations (
Brettel et al. 2015); the ease of creating knowledge and sharing it in order to increase their competitiveness (
Pérez-Luño et al. 2016); and to recognize the fundamental role of knowledge in the external market. Related to business orientation in SMEs, those companies focused on innovation with a strong organizational culture, concerned about a good development and growth in the future (
Basile 2012), are highlighted, since an innovative business model has a positive and significant impact on the competitiveness and performance of SMEs (
Anwar 2018).
Sustainability has been studied as an emerging issue in SMEs (
Bartolacci et al. 2020;
Bakos et al. 2020;
Jansson et al. 2017), as the topic has aroused great interest not only in academia and society, but also at the business level (
Bartolacci et al. 2020). One of the challenges they face is climate change, so they should always consider environmentally friendly and sustainable practices (
Bakos et al. 2020), with the fact that it has become a very relevant factor within the business environment (
Jansson et al. 2017). Another addressed topic is human resource management, starting with all the members of the organization who contribute to achieving the proposed goals and objectives; it is also considered a determining key in guiding the course of the organization (
Harney and Alkhalaf 2020) and focusing on needs, such as training to achieve better control and good performance within the organization (
Bermúdez Carrillo 2015).
Another addressed topic is human resource management, starting with all the members of the organization who contribute to achieving the proposed goals and objectives; it is also considered a determinant in guiding the course of the organization (
Harney and Alkhalaf 2020) and focusing on needs, such as training to achieve better control, and good performance within the organization (
Bermúdez Carrillo 2015).
Consequently, in order for SMEs to transcend, it is necessary to focus on their finances and the existing accounting of their organizational structure, since they are considered a source of competitive advantage and an essential element for making decisions (
García Pérez De Lema et al. 2006); nevertheless, the main challenge they face is the competitive environment, since dealing with it requires effort. That is why there are several systems that allow SMEs to be properly managed as accounting systems that bring benefits in terms of performance (
López Mejía and Hernández 2010) and thus are able to reduce risks (
Berger and Schaeck 2011). Those that are related to the operation of the companies and their supply chain must be identified in order to generate proposals to mitigate the impact (
Fan and Stevenson 2018). Internally, insufficient utility may be of greater risk than other situations (
Oláh et al. 2019); externally, it is important to locate economic, geopolitical, social, technological, and environmental risks, of which the latter are considered to be of lesser impact (
Asgary et al. 2020).
For SMEs, their performance is fundamental, so being interested in planning and control factors has become imperative for companies to plan carefully and thereby reduce difficulties (
Yusuf and Saffu 2005), due to the fact that in some cases they show structures that are not well planned, preventing them from increasing their performance (
Cortés et al. 2016). That is why it is important to design strategies that bring positive effects to the organization (
Radicic and Pugh 2017), as well as structured work systems, proper resource management, and knowledge creation, among others (
Klaas et al. 2006).
1.2. The Entrepreneurial Behavior of Companies
Regarding the research focused on entrepreneurial behavior, there are some studies related to the empirical analysis of various variables, where it is important to note that there is a significant relationship between the links of organizational capacity and entrepreneurial behavior (
De Oliveira 2009;
Svensson 2020). On the other hand, it is considered important that leadership is present for entrepreneurial behavior, since it is of utmost necessity when there is crisis and uncertainty; that is, to help cope with difficult environments (
Horta and Kong 2014), and innovation is an element that contributes to improving economic growth (
Wu and Huang 2008).
Similarly, emphasis is placed on studies about entrepreneurship from a human and social capital development perspective (
Obschonka et al. 2012;
Khoshmaram et al. 2020). Likewise, entrepreneurial behavior is not only empirically evidenced, but also addresses theoretical aspects, where it is necessary to deepen, understand, explain, and highlight the importance it has had over time and continues to have in organizations and society in general (
Busenitz 2007;
Gruber and Macmillan 2011;
Teague and Gartner 2017). Entrepreneurial behavior has been considered a decisive element in organizations (
Guachimbosa et al. 2019), as well as a key factor in generating strategies, providing various practical and theoretical benefits (
Anderson et al. 2019), and also identifying relevant opportunities in the business context (
Baltar and Brunet 2013;
Andrés Pulgarín Molina and Acevedo 2011). Therefore, the importance of such behavior is drawing attention due to the organizational results it offers (
Rutherford and Nagy 2014).
On the other hand, it is possible to highlight studies focused on the entrepreneurial behavior associating it with diverse variables, such as strategy, business success, and industrial environment, among others (
Entrialgo et al. 2001). Similarly, entrepreneurial behavior within SMEs has also been analyzed in relation to other variables to clarify the link between them and behavior within organizations, such as sustainable development, where there is a positive association, indicating that while a company is focused on entrepreneurship it is likely to be committed to sustainable development (
Iqbal and Malik 2019;
Ayuso and Navarrete-Báez 2018).
1.3. Characteristics of the Business Manager
Several investigations have shown the relevant performance that organizations have had and the role they play within the economy; this is due to the characteristics of the owners, managers, and directors, such as demographic characteristics (
Zhang 2017;
Kellermanns et al. 2008;
Peni 2014;
Nguyen et al. 2018;
Saidu 2019;
Davidson et al. 2006;
Yeoh and Hooy 2020;
McKnight et al. 2000) which include seniority and educational level, among others. Other characteristics of a manager are those that are identified by the way they carry out their management; the way they establish their goals and objectives, both strategically and personally; how they make decisions; and how they delegate actions within the company (
Mukhtar 2002). All of the above characteristics of managers have an impact on company performance, as they are considered management activities, such as entrepreneurship, perception of social responsibility, as well as social capital (
Kim and Jung 2015).
On the other hand, there are other characteristics of managers that allow a better performance for the company, such as experience, choice of a successor, tenure (
Newman et al. 2018), gender diversity, time in office, duality (
Rubino et al. 2017), strategic change, knowledge, cultural aspects (
Le and Kroll 2017), and business education, that in one way or another affect the results and performance of the company (
Pascal et al. 2017). Within the research analyzed and focused on the characteristics of the manager, those oriented to personality and educational characteristics stand out, since they can have a dominant influence on the members of the organization (
Haas and Speckbacher 2017) and the ownership of the company (
Yang et al. 2020); in addition to characteristics such as mental capacity, personality traits and ethics, among others, due to the importance they have both in companies and in society in general (
Omri and Becuwe 2014).
In addition to the above, there are also characteristics catalogued as attributes of the managers that are considered to be of a subjective nature, such as the command of languages, degree of study, personality traits, and aggressiveness, among others, which directly impact the attitude of the members of the company and the dynamism of the work (
Río 2006). On the other hand, other relevant characteristics of the manager in small and medium enterprises are processes and management functions, the results of the management process, components of the organizational environment (
Foxley 1980), the way of working, decision making, aspects of ownership, and succession, among others, which have been considered factors of improvement with benefits and advantages to the organization (
Shih and Wickramasekera 2011).
As can be observed, research works oriented to the entrepreneurial behavior in SMEs and the characteristics of their managers are scarce. One of them considers the characteristics of the owners/managers of the companies for their individual entrepreneurial behavior (
Entrialgo et al. 1999), while another one accounts for the characteristics of the managers in the entrepreneurial behavior of the company (
Suárez et al. 2000), that is, it goes from the individual to the organizational. It is precisely in this possibility of study that the following question arises as a research question: what is the difference in the entrepreneurial behavior of SMEs based on the demographic characteristics of their managers?
To achieve the objective of this research, which is to determine the difference in the entrepreneurial behavior of companies based on the demographic characteristics of their managers and to publicize compliance, a section on materials and methods is included, in which the subjects of study, the instrument used, and the statistical analysis used are described. Subsequently, the results show the main findings, in which the entrepreneurial behavior of companies varies in relation to the age and education of the managers; however, gender and seniority are not differentiating factors.
4. Discussion
In addition, the most relevant findings generated from the tests can be grouped into two. The first group is related to the characteristics of the managers that do not present differences among them in the entrepreneurial behavior. In this case, gender can be mentioned, in such a way that there is no difference in the entrepreneurial behavior of the studied organizations when they are managed by men or women. This contrasts with studies in which women play an important role in family type organizations (
Acheampong 2018), and on the difference between the ways organizations run by men and women are managed (
Mukhtar 2002), especially due to cognitive and emotional issues (
Li et al. 2019).
The seniority of the company’s manager is not relevant for such behavior either; that is, the difference in the years that managers have been working is not a determinant for organizations to undertake different projects. This may be subject to debate since there is evidence that greater seniority at work has an influence on the knowledge of the job and the ability to perform it (
Schmidt et al. 1986); while less experience leads to greater cultural intelligence (
Puyod and Charoensukmongkol 2019). To keep the discussion open and unfinished, it was found that the most entrepreneurial companies have management teams with more previous joint experience, but at the same time with significant experience diversity (
Suárez et al. 2000).
Contrary to the two previous aspects, a difference was found in the distribution of the entrepreneurial behavior of the companies in relation to the age of the managers, particularly those managed by people between 20 and 40 years old who have a greater entrepreneurial behavior than those managed by those who are 61 years old or older; nevertheless, the 41–60 age group showed no difference from either of the other two age groups. Without being conclusive, there is an approach in identifying age as a factor that may interfere in the entrepreneurial behavior. In that sense, there are previous studies in which the most entrepreneurial companies have management teams with a lower average age (
Suárez et al. 2000); likewise, executive directors in the early stages of their careers tend to make more risky decisions, and after the age of 40, they begin to decline (
Yeoh and Hooy 2020). One idea that can be considered socialized and confirmed by some studies is that young people are more entrepreneurial than older people (
Lévesque and Minniti 2006), yet a positive self-image based on age increases the likelihood of being an entrepreneur regardless of chronological age (
Kautonen et al. 2015).
The level of education of managers is another aspect in which there is a significant difference in the distribution of entrepreneurial behavior of companies. Specifically, companies that are managed by people with undergraduate or graduate studies show greater entrepreneurial behavior than those whose manager has non-professional studies (high school or less). Previous studies related to the above state that the most entrepreneurial companies have management teams with high technical training (
Suárez et al. 2000), since the education of the CEO has positive effects on company indicators (
Saidu 2019;
Haas and Speckbacher 2017). Not only does having an education have better results, but also those with an entrepreneurial education perform significantly better than those with other educational backgrounds (
Pascal et al. 2017).
In summary, it can be said that the entrepreneurial behavior of the companies shows differences based on the analysis of the age categories and the educational level of the managers. Seniority in the company and the gender of the person responsible for the company are not significant differentiating elements of this type of behavior, at least in the studied companies.
This work has important contributions to knowledge, especially in increasing the endless debate on the characteristics of those who lead companies and their impact on business performance. Although there is an approach and a contribution in that sense, it should be mentioned that the non-parametric statistical analysis limits statements of greater scope; in addition, the approach to SMEs delimits a more complex organizational reality such as the one existing in large companies. Finally, focusing on only four demographic characteristics of managers achieves a limited vision of the intangible reality in the management of companies in which qualities such as the way they communicate, negotiate, motivate, manage conflicts, and make decisions, among others, are left out.
The above limitations generate areas of opportunity and future study areas to expand this work, complement it, or move it to another level. It is proposed to carry out studies in which other study variables are correlated with the entrepreneurial behavior of companies or their performance; which involve the use of statistical tests with greater precision and depth that allow greater generalization; expand to other sizes, sectors and geographical regions that achieve a greater number of study subjects; and incorporate, in addition to demographic characteristics, personal characteristics that allow the analysis of knowledge, skills, and attitudes of managers for the performance of their work.
The directors of the studied companies are characterized by being mostly men, with less than 20 years of service in the company, with bachelor’s degrees, and approximately half of them are under 40 years old. Some of these characteristics can achieve a balance in the relationship between work and family; in the same way, they contribute to the entrepreneurial performance of the companies since family-to-work conflict (FWC) and family-to-work enrichment (FWE) shape the performance of entrepreneurial firms directly and indirectly (
Lu et al. 2020). This demonstrates the opportunity for future studies, in which the direct relationship of age and seniority of managers with the work-family relationship is addressed in depth.