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Entrepreneurial Orientation and Firm Performance – Challenges for Research and Practice



The aim of the article is to critically review the body of literature exploring the nature and various contexts of EO-firm performance relationship, as well as identify contemporary challenges of this stream of research.

The article is an overview of the most important articles of the last two decades of research devoted to EO-firm performance relationship, based on the amount of citation references provided by Ebsco scholar database. The review focuses on: (i) the performance indicators applied in research, (ii) sampling and time frame of the studies as well as (iii) moderating factors of this relationship.

Despite huge progress made, the review reveals important issues that have been side-lined or neglected and remain to be challenged. This paper presents four major suggestions for a more inclusive, broader stream of research: (i) to take inspiration from stakeholder theory, (ii) to spread the research of EO-firm performance relationship across different entrepreneurship contexts, such as social, non-profit and institutional, adjusting scales and measures, (iii) to apply a more dynamic approach to EO-firm performance relationship, and (iv) to diversify the applied research methods.

The article serves to broaden the scope of EO-firm performance relationship. The discussion presents significant potential contributions brought to EO domain by stakeholder theory. It issues a call to identify and pursue research questions that more effectively address contemporary challenges. Not only does it outline issues and methods worthy of greater attention in future study, but more importantly, leads to extending EO research beyond its current boundaries.


entrepreneurial orientation, firm performance, entrepreneurship


Author Biography

Agnieszka Żur

PhD in management, adjunct professor in the Department of Entrepreneurship and Innovation
at the Cracow University of Economics (Poland).


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  3. Antoncic, B. & Hisrich, R., 2004, ‘Corporate entrepreneurship contingencies and organizational wealth creation’, The Journal of Management Development, vol. 23, no. 6, pp. 518-550.
  4. Arbaugh, J. B., Cox, L. W., Camp, S. M., 2009, ‘Is Entrepreneurial Orientation a Global Construct? A Multi-Country Study of Entrepreneurial Orientation, Growth, Strategy and Performance’, Journal of Business Inquiry: Research, Education & Application, vol. 8, no. 1, pp. 12-25.
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