Business Excellence, Vol. 6 No. 2, 2012.
Original scientific paper
MODERATING EFFECT OF EXTERNAL ENVIRONMENT ON THE ENTREPRENEURIAL ORIENTATION AND BUSINESS PERFORMANCE RELATIONSHIP OF CROATIAN SMALL AND MEDIUM SIZED MANUFACTURING ENTERPRISES
Bojan Morić Milovanović
; Faculty of Economics and Business, University of Zagreb
Abstract
Entrepreneurial orientation is a firm’s strategic posture to be innovative, proactive, willing to take risks, act autonomously and be highly competitive in regards to the market rivals. Entrepreneurial orientation, as a concept, refers to the promotion of entrepreneurial
initiatives among all organizational levels in the strategy formulation and implementation process. Th e purpose of this paper is to examine the influence of entrepreneurial orientation (EO) on the firm performance of Croatian manufacturing SMEs. Financial and non-financial indicators were used in order to more precisely clarify the multidimensional aspect of the EO-performance relationship. External environment further tested the relationship as a moderator. Both academics and practitioners can find the results of this research useful while comprehending the signifi cance of entrepreneurial orientation for the performance of manufacturing SMEs in a developing country.
Keywords
entrepreneurial orientation; firm performance; external environment; manufacturing sector; SMEs
Hrčak ID:
96812
URI
Publication date:
1.12.2012.
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