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Organizational ambidexterity describes firms' ability to pursue exploration and exploitation strategies simultaneously. It is, however, unclear if young SMEs should seek to develop organizations with this ability or if they are better off focusing on just one strategy. To shed light on this matter, this paper investigates the interaction between entrepreneurial orientation (EO) (organic organizing) and process improvement (mechanistic organizing) in relation to firm growth in young SMEs (small and medium-sized enterprises). We hypothesize that both types of strategies can produce growth for young SMEs but that, due to their incompatibility, young SMEs do not have the resources needed to successfully pursue them both. We test these hypotheses on a sample of 257 young Danish SMEs. Our results confirm that both EO and process improvement have a positive effect on firm growth. The results further show that while process improvement has a considerable positive effect in low EO firms, for high EO firms, this effect is minimal. Thus, high EO firms may waste important resources by putting too much effort into process improvement initiatives. [ABSTRACT FROM AUTHOR]

In small- and medium-sized enterprises (SMEs), adopting a strategic human resource management (SHRM), approach can improve dynamic capabilities and promote greater innovation. However, most research on this topic is theoretical and focuses on large firms with well-established formal and mature human resource management systems and access to significant resources. Using a resource-based view framework, we investigate how entrepreneurial orientation (EO) enhances the SHRM–dynamic capabilities relationship in SMEs. Using time-lagged data from 456 SMEs in Australia, our results confirm that SHRM has an indirect positive association with innovation through its impact on dynamic capabilities. Additionally, EO has an indirect positive association with innovation through its impact on dynamic capabilities. Our results also show that EO moderates the positive relationship between dynamic capabilities and innovation such that the relationship becomes stronger as EO increases. This study's results have theoretical and practical implications for the role of SHRM and EO in developing dynamic capabilities and innovation in SMEs. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study was to analyze the effects of social media analytics on firm performance using a sample of small and medium enterprises (SMEs) in Thailand. This study also investigated whether entrepreneurial orientation (EO) moderated the effects of social media analytics on firm performance. Design/methodology/approach: This study used SMEs listed in the Department of Business Development of Thailand as the sampling frame. Probability sampling was used to draw the sample. A questionnaire survey was used to collect data from 334 firms. The data were analyzed using partial least squares structural equation modeling. Findings: The results supported the positive association between social media analytics practices on firm performance. Moreover, this study found that EO moderated this association significantly. In particular, the positive association between social media analytics practices on firm performance was higher for firms that exhibit a high EO than those that exhibit a low EO. This result indicated that firms that implement social media analytics practices achieved higher performance when they exhibited a high EO. Practical implications: Social media data analytics should be implemented to strengthen the technological competence of firms. Moreover, firms should integrate EO practices into their implementation of social media analytics to increase their ability to generate substantial improvements in their strategic implementation, thereby enabling them to gain sustainable competitiveness in their market. Social implications: Because SMEs are the driving force for economic growth and development in Thailand, their ability to achieve higher performance when they effectively integrate EO practices into their implementation of social media data analytics could be beneficial for the sustainable development of Thailand, especially in the current data-driven era. Originality/value: The result that EO moderates the effect in enhancing social media analytics practices' influence on firm performance provides new knowledge that extends the boundary of research on this topic. The authors provided a theoretical explanation to clarify the way the implementation of social media analytics practices should be integrated with EO to increase the level of performance that firms achieve from such practices. [ABSTRACT FROM AUTHOR]

This research was conducted with the aim to analyze the influence of entrepreneurial orientation, market orientation and product innovation on marketing performance in culinary MSMEs in Kesambi District. This research method uses quantitative research methods. The results showed that the first hypothesis was accepted, which means that entrepreneurial orientation has a positive and significant effect on the marketing performance of the Research. The results showed that the second hypothesis was accepted, which means that market orientation has a positive and significant effect on marketing performance. The results showed that the third hypothesis was accepted, which means that product innovation has a positive and significant effect on marketing performance. The results showed that the fourth hypothesis was accepted, which means that Entrepreneurial Orientation, Market Orientation and Product Innovation have a positive and significant effect simultaneously on marketing performance. Based on the results of the analysis that has been described regarding the influence of entrepreneurial orientation, market orientation and product innovation on the marketing performance of culinary MSMEs in the city of Cirebon, especially in Kesambi District, it is concluded that Entrepreneurial Orientation has a positive and significant effect on Marketing Performance. Market Orientation has a positive and significant effect on Marketing Performance. Product Innovation has a positive and significant effect on Marketing Performance. Entrepreneurial Orientation, Market Orientation and Product Innovation have a positive and significant effect simultaneously on marketing performance. [ABSTRACT FROM AUTHOR]

Based on a qualitative multiple-case study, this article focuses on the effect that multiple embeddedness—that is, both local and family embeddedness—has on the entrepreneurial orientation of small and medium-sized family businesses. The study's results indicate that whereas local embeddedness influences small family businesses' entrepreneurial orientation, especially in terms of their adherence to local customs and traditions and attention to local legitimisation, family embeddedness exerts particular influence on their adherence to family history and their replication of family rules and roles within the firm. The varying extents to which local embeddedness and family embeddedness manifest in the sampled businesses suggest four types of entrepreneurial behaviours: prudent, conservative, brave and pioneering. [ABSTRACT FROM AUTHOR]

Despite concerted scholarly and managerial interests in sustainability, integrating the principle of sustainable development in small and medium-sized enterprises (SMEs) remains an elusive goal. This article examines the complex interdependent nature of three strategic orientations (entrepreneurial orientation, market orientation, and sustainability orientation) and two external environmental conditions (competitive intensity and institutional support) and how they may jointly affect SME's financial, social, and environmental goals (triple bottom line or TBL)—in a nonlinear, configurational way. In accordance with this broad objective, the authors utilize fuzzy-set qualitative comparative analysis (fsQCA) on a sample of 289 SMEs operating in a developing economy. This approach enables nuanced detection of the various ways in which causal conditions (i.e., strategic orientations) and contextual conditions (i.e., external environmental factors) together can lead to the presence and absence of TBL. The analyses reveal complex causality between TBL and its antecedent conditions that cannot be explained solely by isolated net effects. Specifically, for each TBL dimension, two distinctive configurations are found to be consistently sufficient, thereby providing important theoretical and managerial implications. [ABSTRACT FROM AUTHOR]

Rapid economic growth, intense competition, and rising environmental concerns are compelling businesses to attain sustainable performance and preserve long‐run interests. Considering the lack of EO in small and medium enterprises (SMEs) in the emerging context of Pakistan, the present study investigates the impact of entrepreneurial orientation (EO) on sustainable business performance (economic, environmental, and social) by drawing perspective from dynamic capabilities and resource‐based views. The mediating role of innovation capabilities between EO‐sustainable performance and the moderating effect of technology dynamism on the EO‐innovation capabilities link is also examined. Data from 408 Pakistani SMEs was analyzed using the structural equation modeling. The findings reveal a direct positive influence of EO on sustainable performance. Furthermore, innovation capabilities are found to mediate the EO‐sustainable performance relationship, while technology dynamism positively moderates the EO‐innovation capabilities link. These results emphasize the importance of aligning EO with innovation capabilities to adapt to technological changes in the industrial regime. The theoretical contributions emphasize the importance of promoting EO‐innovation capabilities. Practical contributions imply that entrepreneurs should create an enabling environment that fosters innovation capabilities within SMEs to enhance sustainable performance, especially in resource‐constrained emerging settings. The study also offers researchers a foundation for further investigations in this area. [ABSTRACT FROM AUTHOR]

Entrepreneurial orientation (EO) has been identified as a central construct to understand how firms compete and perform effectively in increasingly competitive environments. Drawing on regulatory focus theory, this study examines how chief executive officers' (CEOs') regulatory focus, a motivational attribute that entails a promotion focus for growth and a prevention focus for safety, affects the EO of small and medium‐sized enterprises (SMEs). Results from 110 UK SMEs show promotion focus positively, and prevention focus negatively affect EO when the two foci are examined independently. Our findings also demonstrate that EO varies significantly among firms led by CEOs with different combinations of the two foci. Specifically, firms engaged in significantly higher levels of EO when they are led by CEOs with a high rather than a low promotion focus, where prevention focus is at a high level. This study extends the literature by uncovering regulatory focus as a motivational microfoundation of EO. [ABSTRACT FROM AUTHOR]

Micro, small, and medium enterprises (MSMEs), especially those operating in the craft industry, often remain overlooked and receive minimal attention from researchers and policymakers even though they have an important role in increasing exports and employment in Indonesia. Nevertheless, craft MSMEs face significant challenges in maximizing innovation and enhancing competitiveness to improve financial performance. Hence, this study aims to investigate how innovation and firm competitiveness influence the financial performance of craft MSMEs. This study utilizes the SEM AMOS analysis tool with data from 403 business actors across three craft centers in West Java: Tasikmalaya, Majelengka, and Bandung. The findings reveal that product, process, and green innovation significantly influence and partially mediate the connection between entrepreneurial orientation and competitiveness. Competitiveness completely mediates the influence of product and green innovation on craft MSMEs' financial performance. Meanwhile, process innovation significantly impacts financial performance both directly and indirectly, emphasizing its importance in enhancing competitiveness and financial outcomes. Continuous improvement and innovation are crucial for boosting competitiveness and financial performance. [ABSTRACT FROM AUTHOR]

The studies reveal inconsistent results, probably due to the omission of the mediating and moderating roles of market orientation (MO) and environmental dynamism (ED). To explicitly address this gap, this study investigates how EO influences performance in selected municipalities of Limpopo Province: the role of MO and ED. The data was collected from 403 respondents across Capricorn and Sekhukhune district Municipalities. The data was analysed using SmartPLS 4.0. The empirical findings of this study show that there is a significant positive relationship between EO and the performance of SMMEs. The study further shows that the relationship between EO and performance is partially mediated by MO and the relationship is also moderated by ED at an average weight. The contributions of this study are (i) that it unravels EO as a uni-dimesional construct and the effect it has on performance. The second contribution is assessing the roles of mediating and moderating variables that influence the EO-performance nexus. This paper fills a gap in the literature by exploring external business variables mediating and moderating the relationship between EO and performance and contributes to the discussion on the contradictory results regarding the relationship between EO and performance. [ABSTRACT FROM AUTHOR]

This study seeks to examine the relationship between entrepreneurial orientation (EO) and sustainable competitive advantage (SCA) with social networks (SNs) as a mediator and the business environment (BE) as a moderator among Malaysian small and medium enterprises (SMEs) operating in Cambodia. Using a snowballing sampling methodology, the study gathered data from 103 SMEs to undertake the moderation-mediation analysis. The findings show that SN mediates and BE moderates the association between EO and SCA, demonstrating that entrepreneurs focus on leveraging external resources to compete in the marketplace, especially when embedded in a highly dynamic but hostile BE. The evidence shows that a profound understanding of small business internationalisation and operational factors can assist home and host governments to support better the relocation and functioning of SMEs abroad. [ABSTRACT FROM AUTHOR]

Research has been done in Paranaque City on the relationship between organizational performance and entrepreneurial orientation, product innovation, and differentiation strategies. The purpose of this study was to identify potential strategies for creating small-business owners of successful coffee shops who could continue to provide high-quality goods and services. Based on a representative sample of 153 micro entrepreneurs aged 20 to 41 and above, an indication was obtained from the small coffee shop entrepreneurs' survey. Based on the entrepreneur's personal and business profile, the researcher used multiple linear regression technique to identify changes pertaining to business and small coffee shop entrepreneurs in terms of demographic features, entrepreneurial orientation, product innovation, and differentiation strategies, use of resources, organizational structure, and organizational performance. The findings demonstrated the empowerment of small coffee shop owners in Paraaque City, as evidenced by the independent variable of entrepreneurial orientation, the dependent variables of organizational performance and the entrepreneur's individual business profile, and the mediating variables of product innovation and differentiation strategies. [ABSTRACT FROM AUTHOR]

Purpose: Based on the intellectual capital (IC) theory and the resource-based view (RBV), the paper seeks to elucidate the direct and indirect relationships between IC and competitive advantage in small and medium enterprises (SMEs). Therewithal, besides examining the mediating role of innovation capabilities in the IC-competitiveness link, it scrutinizes the moderating effect of entrepreneurial orientation in causing IC to boost competitiveness in SMEs through flourishing innovation capabilities. Design/methodology/approach: Data were collected from 206 participants working in SMEs operating in the Kingdom of Saudi Arabia with the help of a structured questionnaire distributed through LinkedIn. Partial least square (PLS)-based structural equation modeling (SEM) using SmartPLS 4.0 has been performed to calibrate the auxiliary and structural models. Findings: Based on the empirical analysis, IC significantly and directly enhances the competitive advantages of SMEs. Additionally, innovative capability has been found to be a complementary partial mediating condition in enabling IC to foster competitiveness in SMEs. Furthermore, the moderated mediation analysis reveals that innovation capabilities strongly mediate the association between IC and competitiveness in SMEs, characterizing higher entrepreneurial orientation. Research limitations/implications: The study provides significant insights to academicians and practitioners seeking to comprehend or configure interactions among IC, innovation capabilities, and entrepreneurial orientation in maturing competitiveness among SMEs, especially in emerging economies. Furthermore, the study provides a valuable integrative perspective on SMEs' competitiveness by involving three voguish constituents of contemporary scholarly discourse grounded into the leading underpinning theoretical perspectives, such as IC theory, RBV, and entrepreneurship theory. Originality/value: The uniqueness of this model lies in its rich theory-laden conceptualization and explanation that could extend theoretical debate and managerial action to the next levels. [ABSTRACT FROM AUTHOR]

This study aims to evaluate the effectiveness of developing self-potential in MSMEs and the impact of increasing digitalization on entrepreneurial orientation. This study applies a quantitative descriptive approach by utilizing questionnaires as a tool to collect information with the Structural Equations Modeling Partial Least Square (SEM-PLS) data analysis method, using SMART PLS 4 software. From the tests that have been carried out, an R square value of 0.230 is obtained, which shows that the effectiveness of developing the potential and upgrading of MSME digitalization affects the entrepreneurial orientation. It was concluded that the development of self-potential and the increase in digitalization simultaneously affect the entrepreneurial orientation of MSME actors in Trusmi Kulon Village. [ABSTRACT FROM AUTHOR]

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We examine COVID-19 as an external enabling mechanism and propose the interplay between entrepreneurial self-efficacy (ESE) beliefs and entrepreneurial orientation (EO) may help explain why some small firms are enabled to exploit disequilibrating environmental changes. We predict that ESE's relationship with performance is mediated through its strategic posture, and the perceived impact of COVID moderates this relationship. We test our moderated-mediation model using data collected over multiple waves from a sample of 190 small business owners. While our findings suggest that an entrepreneur's self-efficacy may contribute to firm performance alone, it appears insufficient to mitigate the perceived negative consequences caused by the pandemic. However, ESE may play a pivotal role when channeled through the firm's strategic orientation. Our results suggest embracing an entrepreneurial orientation is appropriate for navigating stiff economic headwinds and unprecedented uncertainty. Still, the benefits of such a posture can be fully realized only when entrepreneurial self-efficacious managers lead the firm. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to explore the effect of collaboration networks (domestic and international collaboration networks) on the innovation performance of small and medium-sized enterprises (SMEs). It also investigates the mediating role of business model innovation, the moderating role of entrepreneurial orientation and government institutional support between them. Design/methodology/approach: Hierarchical regression analysis is adopted to test the hypotheses based on survey data provided by 223 manufacturing SMEs in China. Findings: The results reveal that domestic and international collaboration networks positively affect SMEs' innovation performance. Business model innovation mediates domestic and international collaboration networks-SMEs' innovation performance relationships. Entrepreneurial orientation positively moderates international collaboration networks–SMEs' innovation performance relationship, and government institutional support positively moderates domestic and international collaboration networks–SMEs' innovation performance relationships. Practical implications: The findings indicate that managers of SMEs should invest in domestic and international collaboration networks and business model innovation to enhance SMEs' innovation performance. Moreover, entrepreneurial orientation and government institutional support should be valued when SMEs try to enhance their innovation performance by embedding in domestic and international collaboration networks. Originality/value: This study broadens the authors' understanding of the relationship between collaboration networks and firms' innovation performance by classifying collaboration networks into domestic and international dimensions and investigating their direct impacts on SMEs' innovation performance. Besides, this study reveals how and when domestic and international collaboration networks influence the innovation performance of SMEs. [ABSTRACT FROM AUTHOR]

Entrepreneurial intention is an important concept for understanding and promoting entrepreneurship. It is a strong predictor of entrepreneurial behavior, and it can lead to a number of positive benefits for individuals, society, and the economy. This study aims to examine the impact of entrepreneurial intention (EI) on entrepreneurial orientation (EO). It also examines the intervening role of environmental uncertainty (EU). The data were collected from 150 entrepreneurs from active enterprises in the 3 major cities of Pakistan. The information was gathered through a closed-ended questionnaire. Partial least squares structural equation modeling was used to analyze the data. According to the findings, EI impacts positively on EO and EU. Furthermore, EU plays a significant intervening role between EI and EO. The results of this study offer valuable information that the owners of businesses and the Ministry of Commerce may use to support entrepreneurial activities in Pakistan. This may ensure the efficient operation and elimination of organizations' failure to appropriately launch their businesses. [ABSTRACT FROM AUTHOR]

This article outlines a pilot study aimed at exploring the influence of Entrepreneurial Orientation (EO) on Artificial Intelligence (AI) adoption and firm performance within Czech chemical SMEs. With dual aims, the study first evaluates the feasibility of the main research design and secondly develops and validates an innovative instrument for measuring AI adoption. Through a quantitative survey, 107 Czech chemical SMEs were engaged, focusing on the practicality of research methodologies and the initial testing of measurement tools, especially for AI adoption. Despite a modest response rate, the study met its methodological objectives, offering insights into AI integration and EO's complexity within the sector. The initial findings hint at the need for broader engagement strategies in the subsequent study, reflecting the challenges of researching niche markets. Significantly, the creation of the AI adoption tool marks a considerable advancement, addressing a gap in existing research tools. This study not only underscores the importance of pilot testing in social sciences, especially within specialized sectors, but also its findings and methodologies serve as a blueprint for future research, emphasizing the adaptation of strategies to industry-specific and geographical peculiarities. By establishing a methodological foundation for in-depth future research, this pilot study promises enhanced understanding of EO's impact on AI adoption strategies and performance outcomes in the Czech chemical industry, directly addressing a critical research gap. [ABSTRACT FROM AUTHOR]

The current study aims to elucidate the critical importance of preemptive market exploitability as a bridging concept for solving the inconsistent findings on the role of entrepreneurial orientation in enhanced marketing performance. Rooted on the resource advantage theory of competition (RAToC), the preemptive move is postulated as a strategic orientation for reaching a competitive positional advantage in the market when supported by a strong entrepreneurial orientation complemented with a solid quality-based differentiation. A survey method was used to collect data after inviting four hundred owner-managers of small and medium enterprises (SMEs) to participate in this study. The structural equation modelling software AMOS tested our proposed hypotheses. The quantitative analysis resulted in accepting the proposed premises with several significant findings. The most important finding is that companies should invest in preemptive market exploitability as a strategic asset for high marketing performance. [ABSTRACT FROM AUTHOR]

We investigate how entrepreneurial orientation (EO) and national culture influence the formation of a diversified strategic alliance portfolio, encompassing various cooperative agreements based on governance mechanisms and partner diversity. A diverse strategic alliance portfolio structured in this manner may be used by smaller firms to derive benefits from social capital and absorb environmental complexities, increasing firms' ability to survive environmental dynamism. Empirical models are estimated using data from 529 small- and medium-sized enterprises (SMEs) located in five countries - Indonesia, Finland, Mexico, the Netherlands, and Sweden. Our findings indicate that SMEs with stronger EO are more likely to establish diversified strategic alliance portfolios. However, this effect is moderated by various national cultural factors (i.e., uncertainty avoidance, individualism, and masculinity). [ABSTRACT FROM AUTHOR]

To develop entrepreneurial orientation (EO), small and medium-sized enterprises (SMEs) need to possess managerial and organizational capabilities. In this paper, we posit that adaptive capabilities (AC) and network capabilities (NCs) are assets that allow an SME to distinguish itself and establish an entrepreneurial culture. We investigate the direct effect of AC on EO. Furthermore, we consider the mediating effect of NCs on the AC–EO relationship. The results show that a high level of AC fosters EO. In addition, NCs are shown to be influenced mainly by the SME's ability to cope with change and build relationships with external partners to detect entrepreneurial opportunities. [ABSTRACT FROM AUTHOR]

PURPOSE: This paper answered the research gap on entrepreneurial orientation with a sample of small and mediumsized enterprises' (SMEs) export performance and the mediating role of innovation capability and international networking accessibility that has not been tested in previous research. This study also tested the effect of entrepreneurial orientation on SMEs' export performance in the global market. The mediating role of international networking accessibility and innovation capability on SMEs' export performance also became another focus of this study. METHODOLOGY: This paper implemented a quantitative approach with 282 owners or managers of the SMEs brass industry cluster in Boyolali, Indonesia, who were examined using purposive sampling. FINDINGS: The findings of this study revealed that entrepreneurial orientation did not significantly affect SMEs' export performance but did significantly affect innovation capability and international networking accessibility. Another empirical test found that innovation capability had significantly affected SMEs' export performance and the international networking accessibility. International networking accessibility also significantly affected the performance of export SMEs. This study also found an important mediating role of international network accessibility and innovation capability in the relationship between entrepreneurial orientation and SMEs' export performance. IMPLICATIONS: This study contributes to research investigating the effect of entrepreneurial orientation on performance by conducting in-depth studies on innovation capabilities and international networking accessibility. Many studies have tested the mediating role of innovation capability and international networking accessibility. The practical implication of this study is that it can help managers or owners of SMEs better understand and find optimal solutions through enhancing innovation capability and international networking accessibility, which can be instilled in the characteristics of SME owners or managers to improve performance. ORIGINALITY AND VALUE: The results of this study indicate the mediating role of innovation capability and accessibility of international networking on SMEs' export performance. Therefore, the main contribution of the study is to determine the mediating role of innovation capability and international network accessibility in the relationship between entrepreneurial orientation and performance by integrating the theoretical perspective of the resource-based view (RBV). [ABSTRACT FROM AUTHOR]

There have been inconsistencies in the findings of academic researchers on entrepreneurial orientation and SMEs competitive advantage, which has demanded a further study. The issue of inadequate access to finance, poor infrastructure, inconsistency with government policy, poor support (business development work), inadequate sales, too many taxes and obsolete technologies leading to massive failures of SMEs and its effect on the epileptic growth of SMEs in Lagos state, but also due to the problem from entrepreneurial orientation. The survey research design was employed in this study and the study relied on primary data. The targeted population of this study is 1,511 SMEs (wholesalers and retailers only), which were drawn from Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in Lagos state. A snowballing sampling technique was used to choose 316 participant SMEs to which the questionnaires were administered, of which 243 questionnaires were returned. The hypotheses of the study were analyzed using multiple regression analysis. The results showed that pro-activeness, innovativeness, and risk-taking significantly improve the performance of SMEs in Lagos state. The study concluded that innovative, entrepreneurial-oriented businesses are more likely to lead their industry in innovations and carry out tasks in a way that better serves clients and increases the firm's power. In order to improve the performance of their companies, the study recommended that SMEs' owners and managers to be dedicated to process and radical innovation in their interactions. [ABSTRACT FROM AUTHOR]

This study explores the effect of a firm's entrepreneurial orientation on the individual resilience of small business owners and how this relationship is moderated by firm-level ambidexterity. We build on social cognitive theory to discuss whether and how the three dimensions of entrepreneurial orientation that is, innovativeness, proactivity, and risk-taking) interact with the two components of ambidexterity (that is, exploration and exploitation) to jointly influence the resilience of small business owners. Our findings indicate that a risk-taking orientation is positively related to resilience and that an innovativeness orientation causes resilience to suffer when an exploitative approach is pursued. For firms with a proactivity orientation, however, exploitation has a positive moderating effect. Our study adds to the literature by linking firm-level determinants and individual-level outcomes in the special context of small businesses. [ABSTRACT FROM AUTHOR]

Effectuation research suggests that effectuation is most appropriate in pure uncertain conditions. However, effectuation research is unclear about how decision-makers respond to varying levels of perceived uncertainty. Behavioral decision-making research suggests that as uncertainty increases, decision-makers may attempt to protect the status quo rather than engage in new opportunities. The present study combines these thoughts to derive a curvilinear relationship between uncertainty and effectuation, providing a more realistic picture of decision-making logic applied by entrepreneurs of small businesses. We also argue that the curvilinear relationship is moderated by the entrepreneurial orientation (EO) of the firm. We find, based on data from four samples of 990 entrepreneurs in three emerging economies,support for the curvilinear relationship and the negative moderating effect of EO. Our findings contribute to effectuation theory by extending its theoretical boundaries to include a spectrum of uncertainty. [ABSTRACT FROM AUTHOR]

This study aims to investigate the effects of financial bootstrapping and government support on working capital, as well as the moderating role of entrepreneurial orientation towards the impact of working capital on financial performance. The study was conducted on 260 MSME owners in the food and beverage sector in Semarang, Surakarta, and Salatiga, in Central Java Province, Indonesia. By using a Partial Least Squares-Structural Equation Modeling (PLS-SEM) analysis, the determinant effects and consequences of working capital were determined. The findings of this study indicate that financial bootstrapping and government support are proven to have a significant positive effect on working capital. Working capital has a significant positive effect on financial performance, but entrepreneurial orientation is not confirmed to moderate the effect of working capital on financial performance. [ABSTRACT FROM AUTHOR]

This research discusses crucial aspects of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia, focusing on comprehensive performance evaluation that includes financial and non-financial dimensions. Nevertheless, challenges such as the impact of the COVID-19 pandemic, limited entrepreneurial orientation, inadequate knowledge management, and difficulties adapting to rapid environmental changes have increased the rate of MSME closures in Indonesia. This study, involving 125 MSMEs in the Malang Raya region, examines the mediating role of knowledge management and dynamic capabilities in the relationship between entrepreneurial orientation and company performance. The results indicate that entrepreneurial orientation positively impacts company performance, knowledge management, and dynamic capabilities. However, knowledge management and dynamic capabilities do not significantly influence company performance, suggesting that they do not mediate between entrepreneurial orientation and company performance. Practically, these findings have significant implications for practitioners and policymakers seeking to enhance the performance of MSMEs in Indonesia. Recognizing the crucial role of entrepreneurial orientation in shaping positive company performance implies that fostering an entrepreneurial mindset is a key strategy. Nevertheless, considering the insignificant impact of knowledge management and dynamic capabilities on company performance, attention should be redirected towards alternative factors or strategies to address the unique challenges faced by Indonesian MSMEs. Policymakers can use these insights to design interventions targeting critical areas to create a conducive business environment for MSMEs in Indonesia. [ABSTRACT FROM AUTHOR]