The Relationship Between Wealth Creation and Professional Management in Small-Medium Enterprises

Abstract

This mixed method study explored the relationship between the employment of professional managers and wealth creation in small-medium enterprises. Specifically, the study attempted to determine whether professional managers contribute to the profitability of small-medium enterprises in the secondary wood manufacturing industry. Furthermore, the study investigated the reasons why entrepreneurial firms have difficulty attracting and retaining professional managers. The study involved 36 secondary wood manufacturing firms engaged in the manufacture of a variety of products. The research validated that the more professional managers entrepreneurial firms employ, the greater profitability they realize and furthermore, entrepreneurial firms face major challenges in their pursuit to attract and retain professional management.

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