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Entrepreneurial Orientation, Firm Growth and Performance in SMEs: Testing the Scale of EO in SME Context
Entrepreneurship Research Journal ( IF 2.610 ) Pub Date : 2022-06-05 , DOI: 10.1515/erj-2021-0175
Kirsti Sorama 1 , Sanna Joensuu-Salo 1
Affiliation  

The aim of this study is to test how different dimensions of entrepreneurial orientation (EO) affect the growth and performance of SMEs in the short term in a rapidly changing business environment. In addition, a scale for measuring EO is tested in the SME context. The data (n = 260) was gathered from Finnish SMEs, and analyzed with structural equation modelling. The results show that EO has two dimensions in SMEs: innovativeness and risk-taking. Proactiveness and innovativeness measure the same phenomenon. Results show that innovativeness has a significant and positive effect on SME performance but not on SME growth. Risk-taking, in turn, has a positive effect on SME growth but not on performance. However, the relationship depends on how growth and performance are defined. Further, the results showed that EO should be seen as multidimensional and be measured by two lower-order dimensions reflecting managerial behaviors and attitudes. This study contributes to theory formation by showing EO as a two-dimensional construct among SMEs and suggests managerial implications by showing the effects of innovativeness and risk-taking on SME growth and SME performance. Further, the results show the importance of EO in the short term, as the current business environment can be described as a time of rapid and unpredictable change, when strategic decision-making requires quick decisions to seize opportunities and counter threats.

中文翻译:

中小企业的创业导向、企业成长和绩效:在中小企业背景下测试 EO 的规模

本研究的目的是测试在快速变化的商业环境中,创业导向 (EO) 的不同维度如何在短期内影响中小企业的成长和业绩。此外,在 SME 环境中测试了衡量 EO 的量表。数据 (n= 260) 是从芬兰中小企业收集的,并通过结构方程模型进行分析。结果表明,EO在中小企业中具有两个维度:创新性和冒险性。主动性和创新性衡量的是同一个现象。结果表明,创新性对中小企业的绩效有显着的积极影响,但对中小企业的成长没有影响。反过来,冒险对中小企业的增长有积极的影响,但对业绩没有影响。但是,这种关系取决于如何定义增长和绩效。此外,结果表明,EO 应被视为多维度的,并应通过反映管理行为和态度的两个低阶维度来衡量。本研究通过将 EO 展示为中小企业之间的二维结构来促进理论形成,并通过展示创新和冒险对中小企业增长和中小企业绩效的影响来提出管理启示。此外,结果显示了 EO 在短期内的重要性,因为当前的商业环境可以被描述为一个快速且不可预测的变化时期,此时战略决策需要快速决策以抓住机会和应对威胁。
更新日期:2022-06-05
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