Individual entrepreneurial orientation and firm performance: examining entrepreneurs and executives

Abstract

The primary objective of this dissertation was to gain a more granular understanding of individuals’ entrepreneurial orientation (i.e., Ind.EO) by performing two independent studies (i.e., qualitative and quantitative). To achieve this, the analytical focus rested on examining the underexplored five-dimensional entrepreneurial orientation concept (i.e., autonomy, proactiveness, innovativeness, competitiveness, and risk-taking) at the individual level of analysis. Study One used semi-structured interviews (n = 32) to qualitatively explore the five Ind.EO dimensions and gain a deeper understanding of the orientation of self-selected committed individual entrepreneurs (i.e., mainly habitual entrepreneurs). The findings indicate that five-dimensional Ind.EO represents an interrelated dynamic concept, with noticeable emphasis shifts in entrepreneurs’ orientations introduced as sub-dimensions. By adopting an actor-centric approach, the presented emerged theoretical model synthesises the study’s empirical evidence and related literature to advance the theoretical foundation of individuals’ entrepreneurial orientation. Specifically, the data indicate that, in a mature context, entrepreneurs tend to compete with themselves (i.e., self-developmental competitiveness) rather than with others or harbour rivalry. The objective of Study Two was to provide a broader perspective on the five-dimensional Ind.EO approach. This study utilised a previously validated five-dimensional EO measurement instrument in a global cross-sectional survey (n = 244) and examined individual top management team members (i.e., TMT members, including entrepreneurs and executives). By integrating partial insights from the first study, Study Two investigated Ind.EO’s intervening effect on the relationship between TMT members’ psychological capital and perceived financial and social firm performance, as well as Ind.EO’s interaction with self-developmental competitiveness. As hypothesised, the results show statistically significant positive relationships between the study’s primary variables and the criteria. Contrary to the expectations, no interaction effect was observed, and the results indicate that Ind.EO does not mediate the relationship between TMT members’ psychological capital and financial firm performance. In contrast, the study shows that Ind.EO fully mediates the relationship between psychological capital and social firm performance. Notably, the data suggests that psychological capital plays a central role in predicting individual entrepreneurial orientation and firm performance outcomes. Both studies confirm that the five-dimensional Ind.EO perspective offers a valuable research approach; thus, this dissertation offers theoretical and practical contributions to the Ind.EO discourse and entrepreneurship at large.

Date of Award	6 Jun 2024
Original language	English
Supervisor	Justin Craig (Supervisor) & Richard Hicks (Supervisor)