Abstract
The aim of this study was to develop a parsimonious scale to measure the goals (objectives) of SME owner–operators. Our results, using a combination of both focus groups and surveys, indicate (as expected) that SME owner–operator goals cannot be satisfactorily proxied by economic factors alone but can be appropriately assessed using four multi-item factors (extrinsic rewards; time flexibility; family; and staff relations) and three single-item measures (customer relations; independence; and intrinsic rewards). Given the results of our tests of concurrent validity are generally as expected, we suggest that the parsimonious scale developed in this study can be used to appropriately assess the goals of SME owner–operators and, therefore, the performances of their firms.
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