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Book part
Publication date: 12 January 2021

G. T. Lumpkin and Robert J. Pidduck

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…

Abstract

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.

Details

Entrepreneurial Orientation: Epistemological, Theoretical, and Empirical Perspectives
Type: Book
ISBN: 978-1-83867-572-1

Keywords

Article
Publication date: 31 January 2020

Ekawee Vaitoonkiat and Peerayuth Charoensukmongkol

The purpose of this paper is to explore the interaction effect of entrepreneurial orientation and stakeholder orientation on the business performance of small and medium…

Abstract

Purpose

The purpose of this paper is to explore the interaction effect of entrepreneurial orientation and stakeholder orientation on the business performance of small and medium enterprises. In particular, four components of stakeholder orientation including customer orientation, competitor orientation, employee orientation and shareholder orientation were considered as the moderating factors to analyze the interaction effect between each of these stakeholder groups and the entrepreneurial orientation on firms’ performance. This research used resources-based views of firms and stakeholder theory as an integrated theoretical framework to explain the interaction effect of entrepreneurial orientation and stakeholder orientation on firms’ performance.

Design/methodology/approach

Survey data were collected from 370 small and medium firms in the steel fabrication industry in Thailand using probability sampling. Partial least-squares structural equation modeling was used for model estimation.

Findings

The results significantly supported a positive contribution of entrepreneurial orientation to firms’ performance. The moderating effect analysis additionally found that the contribution of entrepreneurial orientation to firms’ performance was positively moderated by customer orientation but negatively moderated by shareholder orientation.

Originality/value

This research extended prior studies on entrepreneurial orientation by using resource-based views of firms and stakeholder theory as an integrated theoretical framework to explain the interaction effect of entrepreneurial orientation and stakeholder orientation on firms’ performance.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 12 no. 4
Type: Research Article
ISSN: 2053-4604

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Article
Publication date: 14 June 2018

Brent Smith and Thanigavelan Jambulingam

Scholarship in the entrepreneurship and marketing literatures has helped advance thinking about how health care organizations create value for companies and consumers…

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Abstract

Purpose

Scholarship in the entrepreneurship and marketing literatures has helped advance thinking about how health care organizations create value for companies and consumers. However, there is an ongoing need for empirical research; hence, the purpose of this paper is to examine how entrepreneurial orientation and customer orientation influence healthcare (retail pharmacy) industry performance.

Design/methodology/approach

Using a sample of the US retail pharmacies, the study applies partial least squares structural equation modeling to identify the direct and indirect effects of the entrepreneurial orientation constructs on company performance. The study also includes importance–performance analyses to prioritize for managers which orientations, dimensions and respective manifest items merit the most critical attention as contributors to pharmacy performance.

Findings

We find that the entrepreneurial orientation has a significant impact on customer orientation and company effectiveness. We also find that three dimensions – innovation, risk-taking, and proactiveness – exhibit stronger importance and performance than autonomy and competitive aggressiveness.

Research limitations/implications

While the present study employs data from firms of various sizes, it is limited to firms in the pharmacy industry. Although this study included established EO measures, one of the risk taking items was dropped from the final analysis. In certain research contexts, this result may or may not be consequential. Finally, this study employed nonfinancial measures for measuring performance. Using such measures is not uncommon and can offer insightful linkages to long-term organizational strategies in ways not afforded by conventional financial measures (Ittner and Larcker 2000); however, future research should, if possible, aim to capture financial and nonfinancial data.

Practical implications

In the dynamic healthcare environment, entrepreneurial pharmacies that have the ability to innovate, take risks and be proactive can provide superior customer orientation and hence better performance.

Social implications

Health care industry in general and pharmacies in particular have to be entrepreneurial to meet customer needs and hence the wellbeing of the society With the aging population and growth of complex diseases, pharmacies can provide better access to care delivery if they have entrepreneurial orientation.

Originality/value

In this study, partial least square modeling technique along with importance performance analysis was adopted for first time in this literature to identify key factors that contribute to EO. The findings will aid pharmacy managers to focus their initiatives on the three key dimensions to succeed in their retail pharmacy business.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. 12 no. 2
Type: Research Article
ISSN: 1750-6123

Keywords

Book part
Publication date: 12 January 2021

William J. Wales, Andrew C. Corbett, Louis D. Marino and Patrick M. Kreiser

This chapter synthesizes works contained within the volume and paints a picture of where entrepreneurial orientation (EO) research stands today and where it is likely…

Abstract

This chapter synthesizes works contained within the volume and paints a picture of where entrepreneurial orientation (EO) research stands today and where it is likely heading in the future. From the necessity for better theorizing and measurement to new directions and context, today’s research into EO is setting the foundation for future research that brings greater understanding to what it means for firms and organizations of all types to be entrepreneurial.

Article
Publication date: 27 January 2022

Martha Lucia Cruz Rincon, Martha Lucia Agredo Diaz and Raquel Puente Castro

The purpose of this paper is to analyze the multiple mediation role of both market orientation (MO) and marketing capabilities (MC) in the relationship between…

Abstract

Purpose

The purpose of this paper is to analyze the multiple mediation role of both market orientation (MO) and marketing capabilities (MC) in the relationship between entrepreneurial orientation (EO) and performance (OP), given that the results of previous studies are not conclusive. Consequently, this relationship can be more complex than a direct relationship.

Design/methodology/approach

Using structural equation models, the proposed conceptual model is tested with data from 154 small and medium-sized enterprises (SMEs) in the low-tech manufacturing sector of an emerging Latin American country. Data analysis was performed using structural equations.

Findings

The results confirm that the relationship between EO and OP is not significant. Likewise, the roles of individual and sequential mediation of MO and MC in the relationship between EO and OP are confirmed.

Research limitations/implications

The cross-sectional nature of the study. A longitudinal study could provide additional insights regarding the relationships among these variables and their effect on performance.

Practical implications

Guidelines help businesses in emerging markets to consider the importance of developing entrepreneurs’ MC and MO to optimize the impact of EO on OP.

Social implications

Guidelines help public policymakers in emerging markets to consider the importance of developing entrepreneurs’ MC and MO to optimize the impact of EO on OP.

Originality/value

This paper contributes to understanding the complex relationship between EO and OP, which remains relatively underexplored in SMEs in developing countries (Buli, 2017), by analyzing the key role of OM and MC in a multiple mediation model not considered in previous empirical evidence.

Details

Journal of Entrepreneurship in Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4604

Keywords

Book part
Publication date: 12 January 2021

Birton Cowden and Jintong Tang

This chapter provides a theoretical evaluation of entrepreneurial orientation (EO) to demonstrate some of its current shortcomings for being a construct to categorize…

Abstract

This chapter provides a theoretical evaluation of entrepreneurial orientation (EO) to demonstrate some of its current shortcomings for being a construct to categorize entrepreneurial firms. To do this, we explore all the facets of how a firm can be entrepreneurial and the nuances of how firms can differ in their entrepreneurial approach, which EO currently does not capture. We argue that while EO’s rise in popularity stems from its simplicity, this simplicity has provided it with longevity challenges to keep up with evolving entrepreneurial behaviors within firms. We note these issues in hopes to extend the life of EO, and we provide future recommendations on how to put EO on that path.

Details

Entrepreneurial Orientation: Epistemological, Theoretical, and Empirical Perspectives
Type: Book
ISBN: 978-1-83867-572-1

Keywords

Book part
Publication date: 22 November 2018

Younggeun Lee and Patrick M. Kreiser

In this chapter, the authors examine the main effect of entrepreneurial orientation (EO) – a firm’s strategic entrepreneurial posture – on balancing exploration and…

Abstract

In this chapter, the authors examine the main effect of entrepreneurial orientation (EO) – a firm’s strategic entrepreneurial posture – on balancing exploration and exploitation in the form of organizational ambidexterity. Resource-constrained firms face an imperative to conduct innovative activities, survive hostile environments, and compete with larger and more resource-rich firms. The authors contend that firms can address these potential impediments through achieving ambidexterity via dynamic capabilities, firm-specific resources, and institutional factors. Specifically, The authors review the EO and ambidexterity literatures and summarize extant arguments related to the relationship between EO, exploration, and exploitation. The authors also discuss the most prominent scales and measures of EO, exploration, and exploitation. Moreover, the authors discuss operationalizational challenges that should be considered when conducting EO–ambidexterity research and suggest future research directions by specifying an agenda outlining useful theoretical perspectives and various contingencies that may influence the EO–ambidexterity relationship.

Details

The Challenges of Corporate Entrepreneurship in the Disruptive Age
Type: Book
ISBN: 978-1-78754-443-7

Keywords

Book part
Publication date: 12 January 2021

Joshua V. White, Sanjay Chaudhary and Vishal K. Gupta

The concept of entrepreneurial orientation (EO) attracts considerable attention in the organizational literature. Focusing on issues related to measurement of EO and using…

Abstract

The concept of entrepreneurial orientation (EO) attracts considerable attention in the organizational literature. Focusing on issues related to measurement of EO and using a three-pronged framework to organize the growing diversity of EO measures, the authors conduct a systematic literature review on how EO is captured and assessed in the empirical literature. Specifically, the authors classify 551 empirical works according to the approach to measurement (i.e., managerial perceptions, content analysis, and resource allocations) which allows the authors to document and critically analyze prevalent measurement practices within the literature. Based on the synthesis, the authors identify key measurement-related tensions that may inhibit cumulative knowledge development in the area of EO, such as ad hoc modification of seminal scales and lack of theoretical clarity with respect to measurement. Additionally, the authors find that research into the antecedents of EO as well as causality and temporality of the phenomenon is underdeveloped, which the authors attribute to scarce use of mixed methods. The authors conclude chapter by discussing the challenges involved in measuring EO and offering possible recommendations for future inquiry.

Details

Entrepreneurial Orientation: Epistemological, Theoretical, and Empirical Perspectives
Type: Book
ISBN: 978-1-83867-572-1

Keywords

Book part
Publication date: 12 January 2021

Rico Baldegger, Pascal Wild and Patrick Schueffel

Today, newly founded businesses are inevitably driven to start in a digital form from day 1. Moreover, most existing businesses conceive digitalization as an important…

Abstract

Today, newly founded businesses are inevitably driven to start in a digital form from day 1. Moreover, most existing businesses conceive digitalization as an important part of their strategic orientation by developing and improving their digital assets and digitalizing their processes. By taking account of this development, this chapter investigates how entrepreneurial orientation (EO) affects a small firm’s proclivity to both digitization and internationalization and their performance that comes from it. Internationalization has been a key topic for many small- and medium-sized companies (SMEs) over the past decades. As digitization is currently taking over the helm from internationalization as the most pressing topic affecting business, we carried out research among SMEs to understand the interplay of these factors influencing business performance. The focus of the research was on the precursory factors inducing firm performance as well as on their interrelationships. Using a sample of 357 SMEs, EO is found to be significantly closely associated with an SME’s degree of digitization as well as with its overall performance. In contrast, EO does not affect the SME’s level of internationalization. This result is surprising considering that proactive and risk-taking firms tend to be more inclined to enter foreign and distant markets.

Details

Entrepreneurial Orientation: Epistemological, Theoretical, and Empirical Perspectives
Type: Book
ISBN: 978-1-83867-572-1

Keywords

Book part
Publication date: 12 January 2021

Hanieh Khodaei, Victor Scholten, Emiel Wubben and Onno Omta

Recent studies have questioned the direct relationship between entrepreneurial orientation (EO) and firm performance (e.g., Rauch, Wiklund, Lumpkin, & Frese, 2009; Wales

Abstract

Recent studies have questioned the direct relationship between entrepreneurial orientation (EO) and firm performance (e.g., Rauch, Wiklund, Lumpkin, & Frese, 2009; Wales, Gupta, & Mousa, 2013). Following this stream of research, this study examines this relationship by identifying the intermediate steps between these two variables (Alegre & Chiva, 2013; Wales, 2016; Zahra, Sapienza, & Davidsson, 2006). EO is considered essential for new market entry and new business foundation, which is why this study focuses on startups. Startups search for viable business opportunities, and this search is highly dependent on organizational learning (Kreiser, 2011). Previous studies suggest that organizational learning mediates the relationship between EO and performance (e.g., Real, Roldan, & Leal, 2014; Wang, 2008). This study investigates the role of organizational learning in this relationship by analyzing how EO and absorptive capacity (AC) interact. We propose a more direct and fine-grained measure of entrepreneurial success by developing a conceptual model that includes opportunity identification as an early outcome measure for startups. Drawing on a sample of 95 academic spin-offs in the Netherlands, this study examines the mediating role of AC and market readiness in the relationship between EO and market opportunities. The findings indicate that AC and market readiness mediate the direct effect of EO on market opportunity identification. By using opportunity identification as an outcome measure for EO, this study adopts a more direct measure for firm performance, resonating with recent discussions on the main effect of EO for organizations. These findings suggest that academic spin-offs’ AC leads entrepreneurial efforts to achieve a better product-market fit, and in return, helps to identify more market opportunities.

Details

Entrepreneurial Orientation: Epistemological, Theoretical, and Empirical Perspectives
Type: Book
ISBN: 978-1-83867-572-1

Keywords

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