• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.5
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• pp.45-62
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• 2015

Entrepreneurial Orientation (EO hereafter) can be described as firm level entrepreneurial tendencies. Initially Miller(1983) clarifies the construct of EO, and defines an "entrepreneurial firm as one that engages in product marketing innovation, undertakes somewhat risky ventures, and is first to come up with proactive innovations, beating competitors to the punch". After Miller (1983), Covin & Slevin(1989) adopted EO as a uni-dimensional construct, and insisted that these three dimensions can be combined into a single scale. Since Covin & Slevin(1991), researchers including Lumpkin & Dess(1996) have explored the usefulness of EO. However not many attempts have been tried to summarize the results of previous empirical researches, and to suggest future research directions. To examine and find implications, current study classified the effects of EO as 1) main and mediating effects, 2) moderating effect, 3) other effects, and provide theoretical and empirical validation of EO, which suggested by Miller(2011). After analyzing research results published in major international and Korean journals in each research domain, current paper summarizes and evaluates previous research results, and then suggests research directions for the future. In doing so, we hope to provide some theoretical and practical insight for management of small and medium sized firms.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.103-114
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• 2014

The concept of entrepreneurial orientation has been recognized as a key driver for success of business ventures. Since small and medium-sized business ventures usually lack in business experience, firm level entrepreneurship seems to play an important role in generating firm performance. Following those logics, traditional approaches assumed that the relationship between entrepreneurial orientation and firm performance is linear, but recently studies start to report non-linear relationships. However, only a few researches examines and compares the performance effects of entrepreneurial orientation with diverse performance indicators. Current study explores the effects of entrepreneurial orientation both on financial and innovative performance with 1,497 Korean small and medium-sized business ventures. This study finds that there is a linear relationship between entrepreneurial orientation and financial performance, but inverted U-shaped relationships between entrepreneurial orientation and innovative performance, measured by product novelty and patent issued. Also those relationship patterns are consistent with different measurement of entrepreneurial orientation. Based on these results, theoretical implications with some limitations are discussed.

• Knowledge Management Research
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• v.24 no.2
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• pp.49-63
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• 2023

Existing knowledge regarding the antecedents of the entrepreneurial orientation (EO) of firms is somewhat limited given the emphasis on its performance implications. To address this research gap, this study aims to explore the drivers of entrepreneurial orientation using the resource-based view (RBV) and contingency perspective. To test our hypotheses, this study uses 225 survey data collected from Korean exporters. Results show that the level of entrepreneurial orientation varies depending on organizational characteristics such as firm size and internationalization of the firm. Our findings also support the tenet of the contingency perspective by showing the influences of environmental characteristics such as technological turbulence and market uncertainty on the entrepreneurial orientation of firms. Our empirical research provides academic and practical implications for the field of entrepreneurship.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.59-69
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• 2016

The goal of this study is to compare entrepreneurial orientation of both countries' students and to compare the effect of individualism on developing entrepreneurial orientation of both countries. In order to achieve this goal, this study will conduct two analysis. Firstly, the comparative study on entrepreneurial orientation of both students will be implemented by conducting F-test and t-test. Secondly, the regression analysis between an independent variable - individualism - and dependent variables - innovativeness, internal locus of control, and entrepreneurial orientation - will be conducted in order to compare the effect of individualism on developing entrepreneurial orientation. Prior to implementation of two analysis, this study has implemented the survey to Korean and Chinese university students to estimate entrepreneurial orientation and a cultural variable to influence entrepreneurial orientation. The question of survey is divided into two parts - individual entrepreneurial orientation including internal locus of control and innovativeness and a cultural variable, individualism. As other precedent comparative studies of Chines and Korean potential entrepreneurship concluded, Chinese students have shown higher entrepreneurial orientation than Korean students. However, on the contrary to prior studies on cultural factors and entrepreneurship, only Chinese students' entrepreneurial orientation is influenced by individualism. Any dependent variables of Korean students were not affected by individualism variable.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.3
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• pp.133-144
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• 2020

This study examines the indirect effects of new product development(NPD) on the relationship between entrepreneurial orientation(EO) and business performance is contingent on organization size. Although previous studies have revealed that EO has a positive effect on business performance and NPD, there have been no research attempts to comprehensively grasp the causal path of EO, NPD, and business performance. Therefore, this study analyzed the causal path focusing not only on final financial business performance affected by EO but also on the mediating role of new product development, which is an intermediate performance. Based on the sample of 3,299 firms from the 2018 Entrepreneurship Survey(Corporate), we analyzed the EO-NPD-business performance relationship and explored whether such an indirect effect of EO on business performance differs depending on the size of the firm. The results showed that EO has a positive impact on business performance and NPD. In addition, NPD positively mediates the relationship between EO and business performance under the condition of large size firm, although NPD does not have a direct effect on business performance. With the findings, the current study has principal implications for practicing managers. The result of this study is not to suggest that NPD triggered by EO is a panacea for improving final business performance. The study suggests a need to equip organizational capabilities to successfully commercialize new products and appeal to the market and customers, beyond simply developing new products seeking newness based on EO.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.81-94
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• 2020

Based on innovative technologies and new start-up ideas, startups have been actively researched on the entrepreneurship needed to strengthen the organization's capabilities and generate results in the start-up process. This study studied the entrepreneurial orientation on the performance of startups in the Philippines and the financial and non-financial performance of enterprises. This study carried out not only the entrepreneurial orientation to the performance of Filipino startups but also the role of social capital as parameters in the performance of enterprises. The empirical research was completed for 93 Philippine startups and the suitability of the research model was evaluated with a PLS-based structural equation model. The results of the study first confirmed that the enterprise orientation of Philippine startups has a positive impact on both financial and non-financial performance of the enterprises. Second, the entrepreneurial orientation of Philippine startups has been shown to have a positive effect on both the structural, cognitive and relational dimensions of social capital. Third, it was found that the relevant dimensions of social capital mediated both the corporate orientation and the relationship between the financial and non-financial performance of the entity. Entrepreneurial orientation has been confirmed to be directly or indirectly affecting the performance of startups through social capital. These findings reaffirmed that entrepreneurial orientation is still a valid important factor in developing countries as well as in countries such as Korea and the United States. Based on this study, we have identified the need for research from a more integrated perspective, such as the concept of strategic orientation. Finally, practical implications were presented to reflect the findings analyzed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.83-93
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• 2019

Responding to the prior studies' call for further investigating the relationship between entrepreneurial orientation and firm performance, this study proposes a partially mediated model of entrepreneurial orientation, entrepreneurial knowledge position, and firm performance. Survey responses from 3,324 small- and medium-enterprises in South Korea are analyzed to identify a partially mediating role of an organization's entrepreneurial knowledge position. A firm's innovativeness both directly affects its innovation performance and knowledge position in positive ways. On the other hand, risk-taking firms only positively affects knowledge position, whereas a firm's proactiveness positively affects its performance while negatively affecting its entrepreneurial knowledge position. Neither autonomy nor competitiveness show any statistically significant relationships to either entrepreneurial knowledge position or firm performance. A firm's knowledge position is strongly and positively related to its performance. The findings of this study contributes to the research stream of entrepreneurial orientation by delineating the partially mediating role of a firm's knowledge position.

• The Journal of the Korea Contents Association
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• v.20 no.4
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• pp.348-357
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• 2020

Discussions on entrepreneurship are increasing, but the methodology that can be applied to actual small to mid-sized businesses and venture firms is insufficient, and research on measuring achievement and application is lacking. In this regard, this paper analyzed actual proof on the relationship among entrepreneurial orientation, R&D capabilities, market share, and the creation of BSC future values that can be empirically applied to small to mid-sized businesses and venture firms. A factor analysis and hypothesis verification have been conducted with the SEM model utilizing SmartPLS 3.0 on the recent 7th year (2017) data from the Human Capital Corporate Panel (HCCP) of the Korea Research Institute for Vocational Education and Training. The actual proof analysis revealed that entrepreneurial orientation creates a positive influence on R&D capabilities and the creation of BSC, and also on market share, with R&D capabilities as a parameter. On the other hand, the relationship between entrepreneurial orientation and market share proved to be not statistically meaningful. Future value creation of BSC also could not mediate the relation between entrepreneurial orientation and market share. Therefore, this research has proven that a company must cultivate its personnel's R&D capabilities with their entrepreneurial orientation. Furthermore, it is a significant fact that BSC, the conventional measuring tool for performance management, could not mediate the relationship between entrepreneurial orientation and market share. Future companies aiming at innovation should consider developing a new index that could measure the corporate-level entrepreneurship and conduct performance management.

• Journal of Technology Innovation
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• v.21 no.2
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• pp.57-84
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• 2013

New product development(NPD) is imperative management activity for growth and survival of the firm. In the context of the small and medium-sized enterprises(SMEs), the firm became further dependent upon NPD with the increasing turbulence in environments. This research suggests the role of entrepreneurship orientation(EO) and absorptive capacity(ACAP) that affect the success rate of NPD in SMEs. Although each of them has been highlighted as critical resources in the aspect of the sustainable competitive advantage, the relationship and the effect between EO and ACAP have received scant attention. Based on the sample of 261 Korean SMEs, this study examines the direct/indirect effect of EO and ACAP on NPD performance. While innovativeness of EO has the direct effect on NPD performance, both risk-taking and proactiveness of EO show no significance. While realized ACAP has the positive influence on NPD performance, potential ACAP shows no significant influence. In addition, we found that the impact of innovativeness on NPD performance was being partially mediated by ACAP whereas the relationship between proactiveness and NPD performance being fully mediated by ACAP. These findings would provide generic insights that both exploration and exploitation regarding knowledge and resources in SMEs are necessary in order to increase NPD performance and two activities have to align with EO.

• Proceedings of the Korea Contents Association Conference
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• 2014.11a
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• pp.365-366
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• 2014

본 연구에서는 중소기업의 기업가적 특성과 고용창출간의 관계에 대해 검토하고자 한다. 중소기업의 기업가적인 특성들이 많은 긍정적인 결과를 창출할 수 있다는 논의에도 불구하고 기업가적 특성과 고용창출간의 관계를 살펴보고 있는 연구들은 많지 않다. 본 연구에서는 기업가적 지향성과 고용창출간의 관계를 탐구함으로써 기업가적 지향성이 어떠한 긍정적인 효과를 창출하는지를 탐색하고자 한다.