A Crossnational Prediction Model for Business Success

Abstract

In this study, the Lussier (1995) success prediction model, originally developed using U.S. data, is tested using a sample of firms from Central Eastern Europe. The same factors found to be predictors of success in the U.S. (staffing, education level, use of professional advice, and planning) were also predictors of success and failure in Central Eastern Europe. All these factors have to do with the firm's human resources. These findings should lead to reconsideration of preconceptions existing in Central Eastern Europe regarding small business, as in many of its countries it is commonly believed that human resources have little to do with business success and failure.

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