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Knowledge‐based resources, entrepreneurial orientation, and the performance of small and medium‐sized businesses
Author(s) -
Wiklund Johan,
Shepherd DEAN
Publication year - 2003
Publication title -
strategic management journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 11.035
H-Index - 286
eISSN - 1097-0266
pISSN - 0143-2095
DOI - 10.1002/smj.360
Subject(s) - entrepreneurial orientation , entrepreneurship , business , aside , order (exchange) , competitive advantage , industrial organization , discretion , resource (disambiguation) , resource based view , marketing , limited resources , knowledge management , computer science , political science , art , computer network , risk analysis (engineering) , literature , finance , law
While theory suggests that management has discretion in manipulating resources in order to build competitive advantage, resource‐based research has focused on the characteristics of resources, paying less attention to the relationship between those resources and the way firms are organized. In explaining performance, entrepreneurship scholars have focused on a firm's entrepreneurial strategic orientation (EO), leaving its interrelationship with internal characteristics aside. We argue that EO captures an important aspect of the way a firm is organized. Our findings suggest that knowledge‐based resources (applicable to discovery and exploitation of opportunities) are positively related to firm performance and that EO enhances this relationship. Copyright © 2003 John Wiley & Sons, Ltd.