Entrepreneurial orientation
Entrepreneurial orientation (EO) is a firm-level strategic orientation which captures an organization's strategy-making practices, managerial philosophies, and firm behaviors that are entrepreneurial in nature.[1] Entrepreneurial orientation has become one of the most established and researched constructs in the entrepreneurship literature.[2][3][4] A general commonality among past conceptualizations of EO is the inclusion of innovativeness, proactiveness, and risk-taking as core defining aspects or dimensions of the orientation.[5][6] EO has been shown to be a strong predictor of firm performance with a meta-analysis of past research indicating a correlation in magnitude roughly equivalent to the prescription of taking sleeping pills and getting better sleep.[5] Still, some research has argued that EO does not enhance the performance for all firms. [7] Instead, EO can be argued not to be a simple performance enhancing attribute but rather enhancing if it is applied under the right circumstances of the firm. In some cases, EO can even be disadvantageous for firms, if the situation of the firm does not fit with applying EO. Different situations (also known as context) can be the environment that the firm is situated within or internal situations such as structure and strategy. [7]
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