Entrepreneurial orientation (EO) has emerged as a core concept in the field of entrepreneurship. Yet, there continue to be questions about the nature of EO and how best to conceptualize and measure it. This chapter makes the case that EO has grown beyond its roots as a firm-level unidimensional strategy construct and that a new multidimensional version of EO is needed to capture the diverse manifestations and venues for entrepreneurial activity that are now evident around the world – global entrepreneurial orientation (GEO). Building on the five-dimension multidimensional view of EO set forth when Lumpkin and Dess (1996) extended the work of Miller (1983) and Covin and Slevin (1989, 1991), the chapter offers an updated definition of EO and a fresh interpretation of why EO matters theoretically. Despite earnest efforts to reconcile the different approaches to EO, in order to move the study of EO and the theoretical conversation about it forward, we maintain that as a group of scholars and a field, we need to acknowledge that two different versions of EO have emerged. Given that, we consider original approaches to measuring EO, evaluate formative measurement models, consider multiple levels of analysis, call for renewed attention to EO configurations, and discuss whether there is a theory of EO.
The authors sincerely thank the editors of the Advances in Entrepreneurship volume on Entrepreneurial Orientation – Andrew Corbett, Patrick Kreiser, Lou Marino, and Bill Wales. Their support, guidance, and patience have been vital for bringing this work forward. We are grateful to all of those who graciously provided advice and shared concerns on earlier versions of the manuscript including Sophie Bacq, Keith Brigham, Justin Craig, Brad George, Benyamin Lichtenstein, Aaron McKenny, Marcus Wolfe, and Andy Yu. The chapter also benefited greatly from the insightful discussions that emerged during presentations at the 2020 Rocky Mountain Entrepreneurship Research Conference at the University of Wyoming in Laramie, Wyoming.
Lumpkin, G.T. and Pidduck, R.J. (2021), "Global Entrepreneurial Orientation (GEO): An Updated, Multidimensional View of EO", Corbett, A.C., Kreiser, P.M., Marino, L.D. and Wales, W.J. (Ed.) Entrepreneurial Orientation:
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