The paper provides an integrated framework to study new venture performance by integrating types of strategic orientation, competition and choice of value offerings of the new venture. The relationship between new venture performance, strategic orientation, value offerings and moderating role of competition is analyzed through structural equation modeling (SEM). The sample of 300 entrepreneurs/founders of new ventures provides the necessary information to the model. The study found entrepreneurial orientation is more likely associated with the choice of new value offerings and has a higher impact on new venture performance in the presence of competition. The results indicate the strongest effect of new value offerings compared to incremental value offering on venture performance is useful for policy making at multiple levels of individual, regional and national start-ups policies.

中文翻译：

---

战略导向，价值产品和新企业绩效的集成框架

本文通过整合战略定位，竞争和新企业价值产品的选择，提供了一个研究新企业绩效的综合框架。通过结构方程模型（SEM）分析了新企业绩效，战略方向，价值提供和竞争调节作用之间的关系。300名新企业的企业家/创始人的样本为模型提供了必要的信息。研究发现，创业导向更可能与新价值产品的选择相关，并且在存在竞争的情况下，对新企业的绩效产生更大的影响。结果表明，与增值产品相比，新值产品对风险绩效的影响最大，这有助于在多个级别的个人，