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Entrepreneurial orientation (EO)—a firm's strategic posture towards entrepreneurship—has become the predominant construct of interest in strategic entrepreneurship research. Despite the ever-increasing volume of nomological research on EO, there remain ongoing conversations regarding its ontology. Drawing from measurement theory, we outline an EO reconceptualization addressing the likely prevalence of Type II nomological error in the EO literature stemming from measurement model misspecification. Focusing on the question of whether EO is an attitudinal construct, a behavioral construct, or both, we propose a formative construction of EO viewing the exhibition of entrepreneurial behaviors and of managerial attitude towards risk as jointly necessary dimensions that collectively form the higher-order EO construct. We present an empirical illustration of our reconceptualization followed by a discussion of future research opportunities.

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.

Corporate entrepreneurship strategy (CES) represents a firm’s coordinated efforts towards entrepreneurship and is an over-arching strategic approach that may be suitable for diverse types of organizations and industries. Yet, it remains on the knowledge frontier because the actual implementation of this strategy remains a challenge for many organizations. CES is built upon three internal elements: an entrepreneurial strategic vision, a pro-entrepreneurship organizational architecture, and entrepreneurial processes and behaviors. We integrate CES with the precepts of configuration theory to extend our knowledge boundaries in order to suggest a proper alignment of these elements for successful CES implementation. By examining the relationship between external CES fit (conceptualized and operationalized as ‘matched’ linkages between the external environment and the internal elements of CES) and internal CES fit (conceptualized and operationalized as aligning the internal elements of CES in a manner consistent with a specified ‘ideal’ profile), as well as the relationship between internal CES fit and firm performance, our results suggest that the fit of these elements is associated with greater financial performance.

Previous studies have generally established a positive relationship between aggregated measures of entrepreneurial orientation (EO) and firm performance. However, there are theoretical reasons suggesting that three dimensions of EO (innovativeness, proactiveness, and risk-taking) may possess differential relationships with performance in smaller firms. This study utilizes a sample consisting of 1,668 small-to-medium sized enterprises (SMEs) in nine countries across 13 different industries to provide a finer-grained analysis of the EO-performance relationship. Specifically, we theorize and test a non-monotonic influence of innovativeness, proactiveness, and risk-taking on SME performance. Innovativeness and proactiveness displayed predominantly positive U-shaped relationships with SME performance. Risk-taking, however, displayed a predominantly negative U-shaped relationship with SME performance. Further, individualism was found to positively moderate the relationships between innovativeness-performance and proactiveness-performance. Taken together, these results suggest that differential relationships exist between three dimensions of EO and SME performance, with important theoretical implications for future EO research.

Whereas our understanding of corporate entrepreneurship (CE) and corporate entrepreneurship strategy (CES) continues to expand, there has been little theoretical development to support the most extensive framework to date: the integrative model of CES as proposed by Ireland et al. (Entrep Theory Pract 33(1): 19-46, 2009). According to the model, CES is built upon the \"three foundational elements of an entrepreneurial strategic vision, a pro-entrepreneurship organizational architecture, and entrepreneurial processes and behaviors as exhibited throughout the organization\" (Ireland et al. 2009, p. 38). The purpose of this study is to present a broad, overarching theory—complexity science—to examine the key elements and propositions of the CES model. Complexity science—founded on assumptions of interdependent heterogeneous agents and nonlinear interactions, as well as non-deterministic and potentially extreme outcomes—offers established multilevel concepts, theoretical boundary conditions, and methodological guidance for scholars to build and test future studies on CE and CES. Though our complexity perspective draws extensively from conceptual work on complex adaptive systems and agent-based models, we ground our arguments on the empirical ubiquity of power law distributions in all constructs and levels of analysis within the CES model. We conclude with a detailed research agenda, as well as a prescriptive discussion related to theory development, quantitative analysis, and practical applications to guide future studies on CE.

Utilizing information processing theory, we investigated the role that proactiveness plays in the organizational process of perceiving objective industrial munificence. Specifically, we examined the moderating effect of proactiveness in the munificence perception process, as well as the mediating impact of perceived munificence on the relationship between objective munificence and firm performance. Data collected from 227 companies in four countries and seven manufacturing industries support both hypotheses. The implications of these findings for managerial practice and future research are discussed.

Innovation has become a major strategic component of corporate entrepreneurship. Managerial decisions regarding innovative activity are complex and can be affected by numerous factors. In this study, we draw upon the tenets of stakeholder theory to examine how stakeholder salience (consisting of stockholders, employees, and customers) is integral to the decisions made by senior level managers related to social proactiveness within a corporate innovation strategy. In doing so, we introduce a social proactiveness scale that examines a manager's priorities toward internal and external social issues. Examining 200 senior-level managers, we find that companies which place salience on employees are more proactive on both internal and external social issues, while those placing salience on stockholders are more proactive on internal social issues but not external social issues. Surprisingly, placing salience on customers is associated with neither internal nor external social issues. Finally, the data suggests that proactiveness related to internal social issues leads to greater internal innovation with external innovation mediating the relationship, whereas proactiveness on external social issues is not related to innovation.

Purpose - The primary purpose of this paper was to perform an in-depth analysis of the strategic process that occurs within family firms.Design methodology approach - This study analyzed the historical development of the growth strategies of four family firms in the US, Finland, and Sweden.Findings - The results of this study suggest that family firms typically adopt conservative strategies in the early part of their life cycle. During their formative years, family firms often implement financially conservative strategies and place an emphasis on maintaining tight control of the strategic decision-making process within the family unit. However, the competitive pressures experienced by family firms over time often force these companies to embrace a more entrepreneurial posture during the latter stages of their life cycle.Research limitations implications - The stage in the company life cycle plays an important role in determining the strategic behavior of family firms. Future research aimed at replicating the results of this study may help shed further light on the strategic process that occurs within family firms.Practical implications - Although the firms examined in this study were from various cultures, their strategic development over time was very similar. This tentatively suggests that the evolution of the strategic process that occurs within family firms may be generalizable across cultures.Originality value - Our findings indicate that there may be an important distinction between family firms and entrepreneurial organizations. That is, all family firms are not necessarily entrepreneurial, especially early on in their company life cycle.

Organizational researchers have long recognized the important role that top managers play within entrepreneurial firms (Ireland, Hitt and Sirmon 2003). Utilizing Covin and Slevin’s (1989) conceptual framework, the current study explores three key entrepreneurial characteristics of top managers and the impact these characteristics have on firm performance. Specifically, we argue that top managers with a high tolerance of risk, those who favor innovative activities and those who display a high degree of proactiveness will positively impact firm performance. In addition, this study examines the influence of top managers’ prestige, structural and expert power on the relationship between entrepreneurial orientation and firm performance. We conclude the study with a discussion of theoretical and practical implications of our findings and suggestions for future research in this area of study.

This study examines the hierarchical relationship between the three dimensions of entrepreneurial orientation (EO): proactiveness, innovativeness, and risk-taking. Information Processing Theory and Strategic Choice Theory were utilized to investigate the roles of both industrial munificence and opportunity perceptions in the formation of firm-level EO. Data collected from 227 organizations in four countries suggests that innovative and risk-taking behaviors are fundamentally driven by proactiveness and the perceived availability of opportunities in an industry. As such, proactiveness appears to be the leading and primary factor in encouraging and enabling the other dimensions of EO. The research and managerial implications of these findings are also discussed.