Model of Business Management Based on the Theories of Management Thinking of the Mypes

Abstract

Business management is a characteristic trait of entrepreneurs; under this premise, the study's objective was to design a business management model based on the management thinking theory. The methodology used in the research corresponds to a quantitative and explanatory study; 101 entrepreneurs were studied using questionnaires. The results evidenced that business management practices have a positive and significant influence (?1 = 0.1324; p < 0.001) on Gci; business management practices have a positive and significant influence (?2 = 0.9782; p < 0.001) on Gv; business management practices have a positive and significant influence (?3 = 0. 3453; p < 0.001) on Ge; business management practices having a positive and significant influence (?4 = 0.2364; p < 0.001) on Gf; and business management practices having a positive and significant influence (?5 = 0.3220; p < 0.001) on Td. It is concluded that the feasibility of the GE model is crucial for the economic performance of MSEs because it combines the productive factors to undertake and innovate a production with greater human value and a greater opportunity to motivate entrepreneurs to become promoters of changes in their economic and social environments at the expense of the mechanism of managerial thinking. 

Received: 21 August 2023 / Accepted: 16 December 2023 / Published: 5 January 2024