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Deconstructing the relationship between entrepreneurial orientation and business performance at the embryonic stage of firm growth

Hughes, Mathew and Morgan, Robert E. 2007. Deconstructing the relationship between entrepreneurial orientation and business performance at the embryonic stage of firm growth. Industrial Marketing Management 36 (5) , pp. 651-661. 10.1016/j.indmarman.2006.04.003

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Abstract

Studies of entrepreneurialorientation tend to examine its three most common features only (risk-taking, innovativeness, and proactiveness), merging these into a gestalt construct of entrepreneurialorientation and then analyzing its effect on businessperformance. This is in contrast to Lumpkin and Dess who stressed an entrepreneurialorientation is best characterized by five dimensions which can vary independently and may not be equally valuable across performance metrics or at different stages of development. We rectify these problems by examining the independent impact of risk-taking, innovativeness, proactiveness, competitive aggressiveness, and autonomy on performance of young high-technology firms at an embryonicstage of development. Our results support the concerns of Lumpkin and Dess. Only proactiveness and innovativeness have a positive influence on businessperformance while risk-taking has a negative relationship. Competitive aggressiveness and autonomy appear to hold no businessperformance value at this stage of firmgrowth. From these results, we offer implications for managers in addition to guidance for future research.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HF Commerce
Uncontrolled Keywords: Entrepreneurial orientation; Risk-taking; Innovativeness; Proactiveness; Competitive aggressiveness; Autonomy; Young firms; Business performance
Publisher: Elsevier
ISSN: 0019-8501
Last Modified: 04 Jun 2017 04:23
URI: http://orca.cf.ac.uk/id/eprint/38141

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