I. INTRODUCTION Statement of the Problem It is a well documented fact that most small businesses fail*. It is reasonable to assume that the majority of those businesses had a business plan. Clearly if the business failed, the business plan failed to achieve its objectives. While there are many reasons for this failure rate, it is my contention that a significant, but rarely focused upon, reason for business plan failure is the lack of congruity between the skills and personalities of the key management personnel and the tasks those key management personnel will be required to complete to achieve the objectives of the business plan. If the personalities and skill sets of the management team make them ill suited to perform the tasks necessary for the business plan to succeed, it is logical that the plan might fail. It is the frequent lack of matching skills and personalities to expected tasks that in my opinion leads to the failure to execute many business plan objectives. This is the problem that this thesis will explore. Purpose of the Study The purpose of this study is threefold: 1. Explore the connection between the failures to meet business plan objectives and the management team member’ skills and personalities. 2. Discuss the reasons for the selection of key management personnel who lack the ability to complete their objectives. 3. Suggest a solution to this problem Importance of the Study The failure rate of small businesses is alarmingly high. Business failures have dire financial, psychological and sociological consequences. This study is important by virtue of the fact that its intention is to explore ways in which to reduce the small business failure rate. Scope of the Study The study will be limited to small businesses where the actions or inactions of key management personnel clearly impact the success or failure of the business plan. It would be difficult to study large enterprises in this way as the impact of individuals on the company as a whole is often difficult to identify. Rationale of the Study The rationale of this study is that business plan writers seldom take into account the skill sets and personalities of personnel when writing job descriptions. The typical needs analysis sets forth criteria limited to prior experience and credentials when describing the type of individuals that would fill key management positions. It is my contention that two more criteria need to be examined in order to choose individuals that are likely to accomplish their goals within a particular enterprise. These additional criteria are interpersonal skill sets and personality traits. I intend to show that choosing team members without taking into account these traits greatly diminishes the probability that the management team will be successful in achieving their objectives. Definition of Terms Small business Key management personnel Business plan Strategic objectives Personality traits Skill sets Overview of the Study This study will proceed in the following way: 1. I will clearly state the problem as I see it. 2. I will reference literature that relates to this study. 3. I will show how that literature supports my hypothesis. 4. I will suggest way to address the problem. 5. I will summarize my findings and position.