FIRM GROWTH, ADAPTIVE CAPABILITY, AND ENTREPRENEURIAL ORIENTATION

• 成果类型: Article
• 署名作者: Eshima, Yoshihiro; Anderson, Brian S.
• 署名单位: University of Osaka; University of Colorado System; University of Colorado Boulder
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.2532
• 发表日期: 2017
• 页码: 770-779
• 关键词: firm growth; adaptive capability; ENTREPRENEURIAL ORIENTATION; structural equation modeling; endogeneity

摘要

Research summary: This paper posits adaptive capability as a mechanism through which a firm's prior growth influences the exhibition of future entrepreneurial action. Defined as the firm's proficiency in altering its understanding of market expectations, increased adaptive capability is a consequence of the new resource combinations that result from expanding organizational boundaries. Increased adaptive capability in turn corresponds to expansion of entrepreneurial activity, as firms increase their entrepreneurial orientation as the strategic mechanism to capitalize on their improved understanding of market conditions. We find support for our research model in a two-study series conducted in South Korea and the United Kingdom. Managerial summary: Most would agree that entrepreneurially oriented firms-being innovative, entering new markets, and taking risk-grow faster. But how a firm becomes entrepreneurial is a complicated question. In this study, we flipped the growth relationship around and found support for growth contributing to a firm's entrepreneurial orientation. But between growth and being more entrepreneurial is the firm's ability to recognize changes in market expectations. We argue that as a firm grows, it acquires new resources and new knowledge of how to use those resources. These new resource combinations increase its ability to recognize changes in market expectations-its adaptive capability. This capability uncovers new entrepreneurial opportunities for value creation. To capture this potential value, firms expand their entrepreneurial orientation. Copyright (C) 2016 John Wiley & Sons, Ltd.