Entrepreneurial orientation and firm performance: The unique impact of innovativeness, proactiveness, and risk-taking

This paper develops a theoretical model of the relationship between firm-level entrepreneurship and firm performance. This model is intended to further clarify the consequences of an ‘entrepreneurial orientation,’ paying particular attention to the differential relationship that exists between the three sub-dimensions of entrepreneurial orientation and firm performance. Included in the theoretical model are other important variables (such as organizational structure and environmental characteristics) that may impact the EO-performance relationship. Propositions are developed regarding the various configurations of the sub-dimensions of EO and organizational structure that would be most appropriate in a given environmental context. Future research may also benefit from considering the important role that organizational strategy and life cycle stage play in this model. The implications of this model for both researchers and managers are discussed.Journal Articl

Market-Driven Management as Entrepreneurial Approach

Entrepreneurship is traditionally considered as an ‘outward-looking’ phenomenon. Entrepreneurs initiate change by identifying and starting new trading opportunities, related to improved versions of existing commodities or new productor service concepts, which have been until then unknown to other agents. Market-driven management is not posited to be an alternative to entrepreneurial management, a surrogate or even a better substitute to entrepreneurship. They are, rather, two different theoretical constructs that can be fully integrated.Value creation and appropriation within the market is the node of the relationship between entrepreneurship and market-driven management