Introduction
Entrepreneurial orientation (EO)
Entrepreneurial orientation represents the policies and practices that provide a basis for entrepreneurial decisions and actions. Thus, EO may be viewed as the entrepreneurial strategy-making processes that key decision makers use to enact their firm’s organizational purpose, sustain its vision, and create competitive advantage(s).
In other words, EO refers to the strategy-making practices that businesses use to identify and launch corporate ventures. It represents a frame of mind and a perspective about entrepreneurship that are reflected in a firm's ongoing processes and corporate culture
The Dimensions of EO
Majorly, three dimensions of EO have been identified and used consistently; Innovativeness, proactiveness, and risk taking.
Innovativeness is defined as a willingness to introduce newness and novelty through experimentation and creative processes aimed at developing new products and services, as well as new processes.
Proactiveness is defined as a forward-looking perspective characteristic of a marketplace leader that has the foresight to seize opportunities in anticipation of future demand.
Risk-taking is defined as making decisions and taking action without certain knowledge of probable outcomes; some undertakings may also involve making substantial resource commitments in the process of venturing forward.
Questionnaire
I would like to find out your assessment on the Impact of Entrepreneurship Orientation dimensions (i.e. Innovativeness, proactiveness, and risk-taking) on your firm financial performance.
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