Competitive Tactics of Small and Medium Enterprises in the Public Procurement Market

Student: Nabotov Zarif

Educational Programme: Strategic Management and Corporate Governance (Master)

Year of Graduation: 2017

A study by Cardon, Stevens, and Potter (2011) aimed to discover the cause of entrepreneurial failure. Entrepreneurial failure occurs when the business venture is no longer in operation (Cardon et al., 2011). Cardon et al. determined failure occurred because of mistakes made by the entrepreneur and misfortunes that were out of the control of the entrepreneur. The geographical area chosen was another cause of failure (Cardon et al., 2011). However, Askim-Lovseth and Feinberg (2012) noted that a failure can be a crossroads that can lead to future success of their next venture. Entrepreneurs can learn from their previous losses as well as from other’s business misfortunes (Askim- Lovseth & Feinberg, 2012). Cope (2011) agreed that failure for an entrepreneur is one of the most difficult, but valuable learning experience for them.

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