Abstract The paper presents considerations on the entrepreneurial management of SMEs. The paper consists of two main parts. The first, theoretical part outlines the most important concepts concerning the subject under consideration. These concepts became the basis for formulating conclusions from the study in the empirical part. The empirical material allows for establishing that the entrepreneurial management in SMEs is integrated with the organisation’s strategy, with the process of knowledge location as well as with the process of creating innovative solutions. Moreover, it has been proved that the coexistence of three orientations, i.e. strategic orientation, knowledge location orientation and innovation orientation, enables SMEs to develop and implement entrepreneurial management practices that are aimed at recognising and seizing market opportunities.