This document summarizes a journal article about assessing the concept of entrepreneurship orientation (EO) in Malaysia and its economic contributions. It finds that while the Malaysian government supports entrepreneurship through programs and loans, applying EO dimensions has contributed less to economic growth compared to other countries. Key challenges include low repayment of loans and a lack of entrepreneurial knowledge and skills. For Malaysia to better realize the economic benefits of EO, entrepreneurs need more support to develop their businesses and increase profits to improve loan repayments, while the environment must continue supporting risk-taking and opportunities.
Improvement of Business Performance through Entrepreneurial Orientationijtsrd
Entrepreneurial orientation is important factors needed by small and medium enterprises SMEs to face environmental challenges in a dynamic and competitive business world achieve business performance. This study aims to examine the effect of entrepreneurial orientation on business performance. The research sample of 117 culinary SMEs. Data was collected through a survey by distributing questionnaires and documentation. Data analysis techniques using structural equation modeling with the Partial Least Square PLS approach. The results showed that of entrepreneurial orientation had a significant positive effect on business. Asmawiyah | Afiah Mukhtar | Andi Rifqah Purnama Alam "Improvement of Business Performance through Entrepreneurial Orientation" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-6 , October 2020, URL: https://www.ijtsrd.com/papers/ijtsrd35740.pdf Paper Url: https://www.ijtsrd.com/management/randd-management/35740/improvement-of-business-performance-through-entrepreneurial-orientation/asmawiyah
The aim of this study was to examine the effect of financial distress, rewards and company performance using return on assets (ROA), managerial ownership, ownership concentration, directors' composition and leverage on directors' remuneration with company size, leverage and company age as control variables. The study population comprised manufacturing companies in the food and beverage sector listed on the ASEAN state stock exchange. The study used a purposive sampling method. The sample number consisted of 68 manufacturing companies. The data used are secondary data obtained from ASEAN state stock exchanges. Data analysis used multiple linear regression. The results indicate that ROA, managerial ownership, ownership concentration, firm size and leverage have a significant effect on directors' remuneration, while financial distress, reward, company age and state have no significant effect on directors' remuneration. The implications of study mean that boards of directors can conduct a comprehensive evaluation of the directors' remuneration system by establishing a team that has the authority to provide input and formulation of a remuneration system that meets the principle of fairness.
The study sought to evaluate the predominant leadership styles, the leadership effectiveness,
and the relationship between leadership effectiveness and innovation management of a group
of executives of several organizations.
An Investigation of the Effect of Challenges Encounters Female Entrepreneuria...AkashSharma618775
The participation of females in entrepreneurial activities is such a satisfying ideal that has proven to
convey positive contribution towards economic process. To ascertain this; the subject matter has presented herein.
Such presentation has been done by giving detailed analysis of the effects of challenges encounters female
entrepreneurial taking Malaysia, which is one of the transformed economies as the country of context. There is a
promising growth in entrepreneurial activities in the recent years in Malaysia; yet, this growth has seen to have
many male entrepreneurs leaving females with minimal rate of participation. There are challenges identified,
evaluated and analyzed to be the very reasons that leads to this scenario. The study employed three challenges
called economic, resource and cultural extracted from Isa et al., (2018); the challenges which are henceforth
implemented as independent variables (IVs) of the study. The study has found the significant correlation between
each of these IVs (EoC) and its subject matter; that’s female entrepreneurial (FE) in Malaysia the DV with the
significant levels of 0.026 and 0.012 respectively. The extent of effects was regretted to be 62% within the inverse
correlation of 0.89 to mean that the increase of EoC results to the decrease of FE and the decrease of EoC leads to
the increase of FE. The statistical analytics were measured using SPSS and data were secondarily reviewed from
the study of Hossain et al., (2018). For further researches; an expansion to reach other stakeholders like police
makers and officers of financial institutions has been recommended because, this study has been established on the
mere perspectives and opinions of entrepreneurs and not other stakeholders of entreprenerial activities.
Improvement of Business Performance through Entrepreneurial Orientationijtsrd
Entrepreneurial orientation is important factors needed by small and medium enterprises SMEs to face environmental challenges in a dynamic and competitive business world achieve business performance. This study aims to examine the effect of entrepreneurial orientation on business performance. The research sample of 117 culinary SMEs. Data was collected through a survey by distributing questionnaires and documentation. Data analysis techniques using structural equation modeling with the Partial Least Square PLS approach. The results showed that of entrepreneurial orientation had a significant positive effect on business. Asmawiyah | Afiah Mukhtar | Andi Rifqah Purnama Alam "Improvement of Business Performance through Entrepreneurial Orientation" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-6 , October 2020, URL: https://www.ijtsrd.com/papers/ijtsrd35740.pdf Paper Url: https://www.ijtsrd.com/management/randd-management/35740/improvement-of-business-performance-through-entrepreneurial-orientation/asmawiyah
The aim of this study was to examine the effect of financial distress, rewards and company performance using return on assets (ROA), managerial ownership, ownership concentration, directors' composition and leverage on directors' remuneration with company size, leverage and company age as control variables. The study population comprised manufacturing companies in the food and beverage sector listed on the ASEAN state stock exchange. The study used a purposive sampling method. The sample number consisted of 68 manufacturing companies. The data used are secondary data obtained from ASEAN state stock exchanges. Data analysis used multiple linear regression. The results indicate that ROA, managerial ownership, ownership concentration, firm size and leverage have a significant effect on directors' remuneration, while financial distress, reward, company age and state have no significant effect on directors' remuneration. The implications of study mean that boards of directors can conduct a comprehensive evaluation of the directors' remuneration system by establishing a team that has the authority to provide input and formulation of a remuneration system that meets the principle of fairness.
The study sought to evaluate the predominant leadership styles, the leadership effectiveness,
and the relationship between leadership effectiveness and innovation management of a group
of executives of several organizations.
An Investigation of the Effect of Challenges Encounters Female Entrepreneuria...AkashSharma618775
The participation of females in entrepreneurial activities is such a satisfying ideal that has proven to
convey positive contribution towards economic process. To ascertain this; the subject matter has presented herein.
Such presentation has been done by giving detailed analysis of the effects of challenges encounters female
entrepreneurial taking Malaysia, which is one of the transformed economies as the country of context. There is a
promising growth in entrepreneurial activities in the recent years in Malaysia; yet, this growth has seen to have
many male entrepreneurs leaving females with minimal rate of participation. There are challenges identified,
evaluated and analyzed to be the very reasons that leads to this scenario. The study employed three challenges
called economic, resource and cultural extracted from Isa et al., (2018); the challenges which are henceforth
implemented as independent variables (IVs) of the study. The study has found the significant correlation between
each of these IVs (EoC) and its subject matter; that’s female entrepreneurial (FE) in Malaysia the DV with the
significant levels of 0.026 and 0.012 respectively. The extent of effects was regretted to be 62% within the inverse
correlation of 0.89 to mean that the increase of EoC results to the decrease of FE and the decrease of EoC leads to
the increase of FE. The statistical analytics were measured using SPSS and data were secondarily reviewed from
the study of Hossain et al., (2018). For further researches; an expansion to reach other stakeholders like police
makers and officers of financial institutions has been recommended because, this study has been established on the
mere perspectives and opinions of entrepreneurs and not other stakeholders of entreprenerial activities.
An empirical review on ethical business conduct among small and medium Malay ...AkashSharma618775
In the contemporary world of business, ethical conduct stood to be amongst very important practices that
businessmen are required to incorporate when conducting businesses. Yet, the challenges of globalization, trade
liberalization and profitability of businesses in the uncertain business environment are critically encourage
businessmen to engage in ethical conducts. To investigate this subject matter, the study employed Malay
businessmen at small and medium scale and analyse their participation in implementing ethical business conduct.
The study used four main dimensions of ethical business conducts namely personal values, managing social
responsibility, ways of conducting business and interaction with others in business setting. Moreover the study
categorized the target respondents on race basis thus the Bumiputera (Malaysians indegenious) composed of 50%
and non-Bumiputera thus Chinese and Indians at the rates in the distribution of 32% and 18% respectively.
Generally, businessmen at SMEs scale are aware of ethical business conduct and are implementing such matters;
yet, there are continuation of unethical conducts regardless of understanding of its importance to among the
businessmen in SMEs.
An Exploratory Study of Factors Influencing Corporate Sustainability on busin...AkashSharma618775
This study evaluates the effect of corporate sustainability on business performance of manufacturing
industries in USA, from 2012 to 2015. These Manufacturing industries are listed in Corporate Social
Responsibility Hub (CSRHub), Morning Star and Global Reporting Initiative (GRI). All data used in this report
were extracted from 37 manufacturing companies’ Sustainability, corporate social responsibility (CSR) and
annual reports. These companies are of diverse sectors such as Automobile, Health care, consumer goods, food,
beverages and technology. Quantitative method of research is used in this study; this also includes the use of
explanatory and descriptive research design. The main issues to be discussed in this study are Donation, Incident
rate reduction and Water Recycled as the independent variables, while Revenue is the dependent variable. Data
analysis was carried out using the regression analysis, descriptive statistics and correlation. E-views software
generated the data for further analysis. The findings imply that donation has a positive insignificance effect on
revenue, reduced incident rate reduction had positive significance effect on revenue and water recycling has
negative insignificant effect on revenue. In the future researches, larger samples of companies form diverse sectors
and subsectors should be studied to broaden the research on company performance especially the non-financial
aspect.
External Business Environment and Performance of Microfinance Institutions: E...AkashSharma618775
This study examined the intensity of competition in the microfinance industry and its relationship
performance of MFIs in Nigeria. From a sample of 121 MFIs in Nigeria, data was collected via a structured
questionnaire. Data collected was analyzed via Partial Least Squares Structural Equation Modeling (PLS-SEM
3.0) using the Statistical Package for Social Science (SPSS v22) and, findings suggest that MFIs were faced with
intense competition in the form of high cost and difficulty of entry, high operational cost and too many players in
the industry regardless of the type of product and services they offer or lending policies they embrace. The result
further reveal that the intensity of competition has significant negative influence on the amount of loans disbursed
and the amount disbursed to women. The study therefore recommends MFI managers to develop operational
mechanisms for cost and risk reduction to survive and excel.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Role of Entrepreneurship and Social Capital in Building the Sustainabilit...YogeshIJTSRD
Each type of small and medium industry has different problems from one another, so that some can develop rapidly, but some are only able to survive and even some have to go out of business. The success and sustainability of entrepreneurship are often linked to the aspect of luck, the weakness that is often carried out by SMES entrepreneurs is the lack of knowledge resources, the orientation of running a business focuses on technical aspects without considering strategic business aspects. Competitive aggressiveness means how firms react to competitive trends and market demands. Autonomy is defined as an independent action taken by an individual or organization aimed at bringing up a business concept or vision and bringing it to completion independently. Entrepreneurial orientation can increase the performance benefits of knowledge based resources owned by the company. This is possible because the entrepreneurial orientation facilitates the organizations efforts to act on the information that comes from the internal and external environment. Furthermore, Social capital plays an important role in the entrepreneurial process, research shows that social capital is closely related to opportunity creation in several industries. Social capital is a network of relationships that allows its members to exchange and access various assets available in their industrial network. Seeing this phenomenon, this paper will discuss the importance of entrepreneurship and social capital in building the survival and competitiveness of SMESs in Indonesia. Albertus Daru Dewantoro | Lena Ellitan "The Role of Entrepreneurship and Social Capital in Building the Sustainability of SMES in Indonesia" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd41156.pdf Paper URL: https://www.ijtsrd.commanagement/other/41156/the-role-of-entrepreneurship-and-social-capital-in-building-the-sustainability-of-smes-in-indonesia/albertus-daru-dewantoro
An empirical review on ethical business conduct among small and medium Malay ...AkashSharma618775
In the contemporary world of business, ethical conduct stood to be amongst very important practices that
businessmen are required to incorporate when conducting businesses. Yet, the challenges of globalization, trade
liberalization and profitability of businesses in the uncertain business environment are critically encourage
businessmen to engage in ethical conducts. To investigate this subject matter, the study employed Malay
businessmen at small and medium scale and analyse their participation in implementing ethical business conduct.
The study used four main dimensions of ethical business conducts namely personal values, managing social
responsibility, ways of conducting business and interaction with others in business setting. Moreover the study
categorized the target respondents on race basis thus the Bumiputera (Malaysians indegenious) composed of 50%
and non-Bumiputera thus Chinese and Indians at the rates in the distribution of 32% and 18% respectively.
Generally, businessmen at SMEs scale are aware of ethical business conduct and are implementing such matters;
yet, there are continuation of unethical conducts regardless of understanding of its importance to among the
businessmen in SMEs.
An Exploratory Study of Factors Influencing Corporate Sustainability on busin...AkashSharma618775
This study evaluates the effect of corporate sustainability on business performance of manufacturing
industries in USA, from 2012 to 2015. These Manufacturing industries are listed in Corporate Social
Responsibility Hub (CSRHub), Morning Star and Global Reporting Initiative (GRI). All data used in this report
were extracted from 37 manufacturing companies’ Sustainability, corporate social responsibility (CSR) and
annual reports. These companies are of diverse sectors such as Automobile, Health care, consumer goods, food,
beverages and technology. Quantitative method of research is used in this study; this also includes the use of
explanatory and descriptive research design. The main issues to be discussed in this study are Donation, Incident
rate reduction and Water Recycled as the independent variables, while Revenue is the dependent variable. Data
analysis was carried out using the regression analysis, descriptive statistics and correlation. E-views software
generated the data for further analysis. The findings imply that donation has a positive insignificance effect on
revenue, reduced incident rate reduction had positive significance effect on revenue and water recycling has
negative insignificant effect on revenue. In the future researches, larger samples of companies form diverse sectors
and subsectors should be studied to broaden the research on company performance especially the non-financial
aspect.
External Business Environment and Performance of Microfinance Institutions: E...AkashSharma618775
This study examined the intensity of competition in the microfinance industry and its relationship
performance of MFIs in Nigeria. From a sample of 121 MFIs in Nigeria, data was collected via a structured
questionnaire. Data collected was analyzed via Partial Least Squares Structural Equation Modeling (PLS-SEM
3.0) using the Statistical Package for Social Science (SPSS v22) and, findings suggest that MFIs were faced with
intense competition in the form of high cost and difficulty of entry, high operational cost and too many players in
the industry regardless of the type of product and services they offer or lending policies they embrace. The result
further reveal that the intensity of competition has significant negative influence on the amount of loans disbursed
and the amount disbursed to women. The study therefore recommends MFI managers to develop operational
mechanisms for cost and risk reduction to survive and excel.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Role of Entrepreneurship and Social Capital in Building the Sustainabilit...YogeshIJTSRD
Each type of small and medium industry has different problems from one another, so that some can develop rapidly, but some are only able to survive and even some have to go out of business. The success and sustainability of entrepreneurship are often linked to the aspect of luck, the weakness that is often carried out by SMES entrepreneurs is the lack of knowledge resources, the orientation of running a business focuses on technical aspects without considering strategic business aspects. Competitive aggressiveness means how firms react to competitive trends and market demands. Autonomy is defined as an independent action taken by an individual or organization aimed at bringing up a business concept or vision and bringing it to completion independently. Entrepreneurial orientation can increase the performance benefits of knowledge based resources owned by the company. This is possible because the entrepreneurial orientation facilitates the organizations efforts to act on the information that comes from the internal and external environment. Furthermore, Social capital plays an important role in the entrepreneurial process, research shows that social capital is closely related to opportunity creation in several industries. Social capital is a network of relationships that allows its members to exchange and access various assets available in their industrial network. Seeing this phenomenon, this paper will discuss the importance of entrepreneurship and social capital in building the survival and competitiveness of SMESs in Indonesia. Albertus Daru Dewantoro | Lena Ellitan "The Role of Entrepreneurship and Social Capital in Building the Sustainability of SMES in Indonesia" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd41156.pdf Paper URL: https://www.ijtsrd.commanagement/other/41156/the-role-of-entrepreneurship-and-social-capital-in-building-the-sustainability-of-smes-in-indonesia/albertus-daru-dewantoro
Apresentação sobre como desenvolver novos negócios com os clientes atuais e potenciais com base na geração de inteligência e identificação de perfis ideais de cliente, áreas/serviços mais demandados e indústrias representativas, dentre outras informações.
The Impact of Entrepreneurial Orientation on Business Performance: A Study of...ijtsrd
The present study aims to examine the impact of entrepreneurial orientation on business performance of 30 horticulture related firms in Kashmir. The entrepreneurial orientation is measured by five dimensions identified from the literature on the subject and financial performance; a dependent variable, is treated as a measurement for business performance. The correlation and regression analysis was used to analyze the relationship between entrepreneurial orientation and business performance of the sampled firms. Sameer Ahmad Shalla"The Impact of Entrepreneurial Orientation on Business Performance: A Study of SMEs in Horticulture Sector" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-5 , August 2017, URL: http://www.ijtsrd.com/papers/ijtsrd2291.pdf http://www.ijtsrd.com/management/strategic-management/2291/the-impact-of-entrepreneurial-orientation-on-business-performance-a-study-of-smes-in-horticulture-sector/sameer-ahmad-shalla
The present study aimed to examine the effect of the entrepreneurial orientation (EO) on organizational performance (OP). This study was motivated by the mixed findings in literature regarding the relationships between EO and organizational performance. Owing to the mixed results, a novel stream of research was created and this motivated further examining of the impact of other variables that may shed a light on the nature of the relationship. Several theories have been proposed in literature posit the direct relationships among strategies, resources and capabilities as antecedents of success. In this study, copies of questionnaires were distributed to 300 Libyan banks branches, where 200 copies of questionnaires were returned and analyzed. The proposed hypothesis was tested through PLS-SEM and the study results showed that EO positively predicted organizational performance.
This study explains factors that influence enterprise creation among graduates within a public university in Malaysia.
The analysis of the data reflects the vision and mission of that university to promote entrepreneurial skills among its
student. This study recognises four factors that influence students starting a business after graduation. These factors
are; 1) individual's intention and characteristics, 2) family background, 3) culture and 4) financial resources.
Individual's intention and characteristics expedite enterprise creation, while family background presents students'
ability to participate in businesses. Culture draws upon cumulative knowledge, experience, belief and values that can
cultivate a person's thought and mindset, meanwhile, financial resources draw upon financial assistance made
available to students for starting-up enterprises. These factors were tested using regression coefficient, reliability and
descriptive methods. This is to ensure data received are legit and valid to use for this study.
The Relationship between Entrepreneurial Orientation and Employee Engagement:...AI Publications
This research examined the relationship between entrepreneurial orientation and employee engagement, using a sample of 372 employees from small to medium-sized enterprises (SMEs) in Syria. Our study aimed to provide an empirical understanding of the intricacies that interplay between the entrepreneurial orientation of firms and the level of employee engagement. The results indicate a positive correlation between these two factors. The insights provided by this study may be valuable for business owners, policymakers, and researchers alike.
Entrepreneurship Orientation, Market Orientation, Business Strategy, Managem...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Individual and Business Environment: How Effective Interaction Affects SME De...Dr. Amarjeet Singh
Exploring and conceptualizing different aspect of
entrepreneurship is top priority of policymakers at present
days. Importance of entrepreneurial research is increasing
day by day in the present complex and changing business
environment. In this regard, it has become absolutely
pertinent to re-examine the mechanism of interaction
between environment and personality in entrepreneurial
ecosystem to understand its impact on entrepreneurial
development on MSME perspectives. Perfect interaction of
personality characteristics with institutional variables can
lead towards sustainable development. Significant personality
characteristics or optimum business environment can’t alone
make any difference. It is the magnitude of proper interaction
between them which can increase the resultant vector in
many folds. An attempt has been made in this paper to
identify the significant interaction variables that can create
impact during different entrepreneurial growth stage. The
research is of a dynamic and multiregional structure and was
conducted on the target sample based on the longitudinal
study of GEDI (Global Entrepreneurship Development
Institute report) report 2012-2016. The study confirms that
interaction within ecosystem is complex as well as different in
nature for different stage of business. The present study also
explores the intricate situation and developed a suitable
model for each stage of business development. The most
notable part of this study is considering the heteroscedasticity
and autocorrelation of the data. Panel Corrected Standard
Error (PCSE) model has been used in our paper. The analysis
of the present study indicates the positive and negative
interaction variables for each stage of business development
that can be used for policy making considering the present
situation of the country.
Notation Used: In equation [1], [2], [3], i indicates
individual Country, t indicates year, indicate Nascent
Entrepreneurship Rate, Established Business Ownership Rate
and Sustainability. α and β are coefficients and € indicate
error term. In equation [4] X represents the explanatory
variables, whereas Ω is the covariance matrix for all error
terms.
An Exploratory Study of Factors Influencing Corporate Sustainability on busin...AkashSharma618775
This study evaluates the effect of corporate sustainability on business performance of manufacturing
industries in USA, from 2012 to 2015. These Manufacturing industries are listed in Corporate Social
Responsibility Hub (CSRHub), Morning Star and Global Reporting Initiative (GRI). All data used in this report
were extracted from 37 manufacturing companies’ Sustainability, corporate social responsibility (CSR) and
annual reports. These companies are of diverse sectors such as Automobile, Health care, consumer goods, food,
beverages and technology. Quantitative method of research is used in this study; this also includes the use of
explanatory and descriptive research design. The main issues to be discussed in this study are Donation, Incident
rate reduction and Water Recycled as the independent variables, while Revenue is the dependent variable. Data
analysis was carried out using the regression analysis, descriptive statistics and correlation. E-views software
generated the data for further analysis. The findings imply that donation has a positive insignificance effect on
revenue, reduced incident rate reduction had positive significance effect on revenue and water recycling has
negative insignificant effect on revenue. In the future researches, larger samples of companies form diverse sectors
and subsectors should be studied to broaden the research on company performance especially the non-financial
aspect.
An Examination of Effectuation Dimension as Financing Practice of Small and M...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
The focus of this research was to establish the effect of entrepreneurship Ecosystem in inculcating
entrepreneurial propensity for community development. Promotion of entrepreneurship in Kenya has existed
ever since independence. The Government has shown tremendous support to entrepreneurship growth. The
Government have channelled financial support through funding such as Women Enterprise fund, Youth
Enterprise Fund and Uwezo Fund
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
Effect of Entrepreneurial Orientation on the Performance of Small EnterprisesAI Publications
Several studies have revealed the importance of the entrepreneurial orientation (EO) concept in improving firm performance since its inception. However, because of the complications that small businesses face, there are still concerns about whether EO can improve their performance. This study investigated the effect of EO on the performance of small enterprises in Abuja, Nigeria. The objective of the study is to specifically assess the effect of the dimensions of EO viz. autonomy, innovativeness, proactiveness and risk-taking on the business performance of small enterprises in Abuja. The study made use of a survey research design to target a population of 2750 small enterprises in Abuja. Using the Taro Yamane formula, a sample size of 349 was obtained. Of the questionnaires randomly issued to the small enterprises, 338 were completed and returned representing a 96.84% response rate. The questionnaires contained closed-ended questions that were rated on a 5-point Likert scale. The data was then analysed using descriptive statistics and multiple linear regression. Arising from the result, the regression model was significant at 0.000 with the calculated value greater than the critical value (16.910>2.399), hence, the null hypothesis was rejected. It was concluded that, overall, EO has a significant effect on business performance. However, of the dimensions tested, autonomy is insignificant, while innovativeness, proactiveness and risk-taking are significant. The study recommends that entrepreneurial development initiative that aims at building the EO dimensions of small enterprises should focus on innovativeness, proactiveness and risk-taking, rather than autonomy.
The Conceptual Assessment of Malaysian Entrepreneurship
1. Journal of Resources Development and Management www.iiste.org
ISSN 2422-8397 An International Peer-reviewed Journal
Vol.20, 2016
The Conceptual Assessment of Malaysian Entrepreneurship
Environment and EO Economic Contribution
Masayu binti Othman Mohammad Basir bin Saud Mohd Azwardi Mat Isa Nabaz Nawzad Abdullah School
of Law, Government and International Studies, Universiti Utara Malaysia
11J002, DPP Maybank, UUM, 06010 Sintok, Kedah, Malaysia
Abstract
Entrepreneurial orientation (EO) is a strategy of the organization that increasingly changes the outcome of their
performances. This study intended to examine the economic outcome of the entrepreneurial orientation. It also
tried to explain how government and the perceived environment impacts on the business organizations to
successfully applying EO dimensions. The study found that applying EO in the business organizations less
contributed to the economic growth of Malaysia comparing to other countries. The study also found that
Malaysian government and private institution offered supportive programs to transfer the attitude and traits of
the firms towards the application of the EO. The repayment of the loans is found to be an issue to government
and private institutions to maintain their supports. The perceived environment, entrepreneurial knowledge and
the attitude of entrepreneurs are key factor of the successful application of EO dimensions.
Keywords: Entrepreneurial Orientation, Entrepreneurship, business environment, economic development,
performances.
1. Introduction
Entrepreneurship is not a contemporary concept, but recently prevailed. The concept was first introduced by
Catillon from “essai sur la Nature de Commerce en General” published in 1755. Lately, the concept has
fascinated by the researchers to conduct further studies on the dimensions and the influences of entrepreneurship.
Between 1971 and 1984, 6322 scholarly articles were published on this topic and 3,694 of them were published
in two years time (Josien, 2008). Therefore, Miller (1983) has developed Catillon entrepreneurship by
constructing the concept of entrepreneurial orientation (Covin & Lumpkin 2011; Miller, 2011; Covin & Wales,
2012). Recently, most entrepreneurs concern about their entrepreneurial performances and the manner that
assists them to turn into the greater enterprises.
In Malaysia, entrepreneurship is seen to be an important asset for the development of the economy.
Entrepreneurs might effectively contribute to economy prosperity and development to the economic sectors of
the country. In light of that, the Malaysian government has intensified its endeavors to increase the productivity
of entrepreneurs by establishing one-stop center and pallaned several entrepreneurial activities. Roland et al.
(2010) asserted that government policies can play a vital role in providing and expanding entrepreneurship
activities within Malaysia. The ambition for skills, innovation, technology and entrepreneurial strategies are
decisive for Malaysia to face the challenges of the millennium. This study discovers the attitudes, behavior,
personality traits and strategy towards the Entrepreneurial Orientation (EO) in Malaysia. All these positive
boldness will impact the performance and development as a designator of work productivity and resilient need
for achievement. This study also inspects the influence of EO on the economic growth. This comprehensive
study is an explanation regarding the influence of Entrepreneurial Orientation (EO) on overall economy.
2. What’s Entrepreneurship Orientation?
Several studies has tried to define the EO, but there is no concrete agreement between researchers and scholars
on the definition of the term. The EO has been defined by Gupta (2015) as the general strategy bearing towards
entrepreneurship. Cantillon described entrepreneurship as risk taking and ability to assume risk in the market
economy. It also refers to the situation where the entrepreneur takes necessary action to catch up the right
opportunity in order survive in the competitive market economy. Entrepreneurial orientation has been
pigeonholed as the measure of firm level business. It has been bounded with organizational performance
whereby the higher the EO, the greater the level of performance will be; which indeed designates to boost
entrepreneurial activities (Madsen, 2007). In the similar vein, Entrepreneurial Orientation (EO) has been
described as a crucial aspect of high accomplishment firms (Dess, Lumpkin,& Covin ,1997 .; Lee and Peterson,
2000). The EO is also defined as a multidimensional paradigm which incorporating into five measurements
including innovation, pro-activeness, risk taking, competitive aggressiveness and autonomy (Lumpkin and Dess,
1996; Covin and Slevin, 1989; Rauch,Wiklund, Lumpkin & Frese ,2006). The authors established the definition
in accordance to the hypothesis used in their studies by which the relationship of EO is reliant upon the
encouragement that organizations achieving by stressing inventiveness e.g., responsiveness, innovation which
equal to being proactive and a level of assertiveness as risk taking.
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3. Entrepreneurship Orientation and Economic Output
Entrepreneurship is one of the most momentous factors embryonic economic magnification (Suzuki,Kim and
Bae, 2002) as it stimulates emerging opportunities of work, enlarges the range of goods or services that provides
national lavishness and intensity (Zahra, 1999). Correspondingly, entrepreneurship is more functional with the
small medium enterprises (SMEs). It has been recognized as the remarkable catalyst of economic growth for a
quite long time (Henderson and Weiler, 2010).
In addition, challenges in SMEs persuades entrepreneurs to create productive business and utilize the
experience and skills to attain competitive advantage (Hoq and Chauhan, 2011). According to Lumpkin and Dess
(1996), entrepreneurial orientation is the process, behavior and trends that induce companies to move in to the
new market with either new or the old products. Chandrakumara, De Zoysa and Manawaduge, (2011) have
suggested the need to investigate the impacts of the mixed orientations on the firm performances in developing
countries. Entrepreneurs will take an opportunity in the market centre by involving the proclivity to innovate,
take risks to endeavor out intensifying products, services and markets to exploit more proactively in respond to
their rivals. The value of the influence created by the EO is quite different. Some of the researchers has come up
with different findings. The environment and market condition could change the impact of EO on the
performances. For that, Wei-Loon (2003) suggested to re-examine the relationship between EO and
performances. He used the dimensions of EO against firms performances along with perceived environment. For
the organizational performances, three criteria need to be used namely return on capital employed, sales growth
and cash flow. (Wei-Loon, 2013).
As the value of EO has been distinguished by academics, there has been a perpetually incrementing
stream of literature, concentrating the concept and its impact on the firm performance in companies of different
sizes (Covin and Slevin, 1991; Wiklund, 1999; Keh, Nguyen, and Ng, 2007; Storm and Elfring, 2008; De Clercq,
Dimov, and Thongpapanl,2010). The size of the company also changes the influence of EO on the performance
of business organizations. Zainol and Daud (2011) on the other hands identified a significant relationship
between EO and performances in the local setting of Malaysia. However, according to Soininen et al (2012), EO
does not positively relates to the profitability of the business organization. The factors for the variation of the
results on EO and performances should be explained based on the environment in which the firm operates.
Entrepreneur Orientation (EO) is the best apparatuses to subtract the performance of entrepreneur and
generate better understanding of the entrepreneurial process. This study is primarily covenant to explain the
behavior of entrepreneurs that relates to psychological factors and the manners to impact business performance.
According to Jarillo (1990), if the company actions and process are lied to the recognition of the business
opportunities, then the company could be recognized as entrepreneurial and performances could be achieved.
The company that can be labelled as entrepreneurial is also the one that involves in the market product
innovation, conducts a challenging venture, possess proactive innovation and competitive toward rivals in the
market economy (Miller, 1983).
The tantalizing of EO was capture the researcher interest to study the entrepreneurship as EO is
considered to be the most pertinent process at this age to establish a knowledge economy (Hayton, 2005).
Knowledge is part of the EO that completes EO dimensions. As EO applied, entrepreneurial activities boost the
international profit, increase revenue and maximize growth (Zahra & Garvis, 2000). The authors constantly argue
that entrepreneurship changes the relationship between environmental opposition with the performances.
Similarly, Arbaugh, Cox, & Camp(2009) affirms international market and mergers or acquisition to craft a
prosperity if the firm applies EO in their business venture. This is a clear notion indicates the usefulness of the
entrepreneurial behaviors for the international business objective and EO globally applicable regardless firm’s
expectation intended for victory.
The entrepreneurs’ competent supports economic development by pursuing the benefit of high
economic growth and take this opportunity to establish virtuous business. (Mojica, Whittaker, Gebremedhin and
Schaeffer, 2012). Most of the studied previously concentrated on EO and performances indicated that companies
with EO behaviour performs better than the companies that are more conservative oriented (Ruch et al., 2009;
Grande et al., 2011; Hafeez et al., 2011; Wiklund and Shepherd 2005; Covin and Slevin 1989; Chandrakumara et
al., 2011; Keh et al., 2007).
4. The Transformation of Malaysia into Entrepreneurial Nation
With the objective of transforming Malaysia to entrepreneurial nation, a program named 1Malaysia Entrepreneurs
(1Met) was implemented to introduce youth entrepreneurs to the business world. The program annually prepares more
than 5,000 young entrepreneurs. In addition, Malaysian Global Innovation and Creative Centre (MaGIC) plays a big
role in the program (1Malaysia Entrepreneurs, 2013). At the same time, many different types of strategies, programs
and workshops have sprouted like mushrooms and exhibitions to support entrepreneurship and the small business.
Additionally, in 2004, the government of Malaysia has performed government linked companies transformation
program (GLCT) for the purpose of enlarging business opportunities to the government
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linked firms (Wei-Loon, 2013). Actually, GLCs accounted for 54 percent of the capital market in KL and
constitutes almost 5 percent of the country workforce (Wei-Loon, 2013). These companies has tried to change
their behaviors in order to perform to the extent of the private business organizations. Any changes in the
behavior and performances of the government linked companies will positively contributes to the economic
development of the country. It also expands job opportunity to the local employees. So, the government is
largely seeking to extend the EO as a significant economic backer (Wei-Loon, 2013).
Introducing MaGIC and GLCT were very important to transform Malaysia into the greater EO nation.
Through the MaGIC institution, Malaysia entrepreneur gained innumerable benefits and easily access to various
facilities including mentoring, funding aid and development. The industry such as creative multimedia,
outsourcing, R&D and data administration grabbed the advantage of this facility provided by the government
(Bernama, 2013). Apparently, the entrepreneur has been the focus of the government of Malaysia and they have
captured various incentives to expedite the business and fortifying the economy buoyant. The funds provided by
the government allows appropriate spending and expertise in the development of technology and establishing
new market product. Therefore, it could be argued that Malaysia is still infant in terms of research and
development to encourage firms to be more eterpreneurly oriented. However, as found by Zahran (1996)
perceived environment in Malaysia allows more spending on the research and development within the firm, but
its not associated to the sales level in explained innovation (Zahra, 1996).
The government is trying to create an obligation for the entrepreneurs to repay back on opportunities
that offered to them by the government. This is to take necessary actions and instigate good strategies to increase
their performance. The firms are required to be productive and positively respond to the facilities including funds
and loans given by the government. The Malaysian Prime Minister, Najib Tun Razak was promulgated in 2014
Malaysian national budget that Bumiputera Entrepreneurs Start-Up Scheme (SUPERB) have the right to receive
RM30 million initial fund to their business while soft loan from Amanah Ikhtiar Malaysia are provided with
RM300 million funds. Beside, TEKUN are provided with RM700 million fund (Ministry of Finance, 2013). In
addition, Ariff and Yanti (2002) claimed the Malaysia government constantly supported the entrepreneurs by
taking footsteps in promoting the development of entrepreneur such as providing a good environment, financing
aids, tax incentive and consultative center.
5. The Implications of Entrepreneurial Orientation in Malaysian Economy
The SMECORP report shows the main concern of Malaysia SME’s is low contribution to the GDP whereas the
report has been stagnant since 2010 in comparison to other world countries (SMECORP, 2011). In general, in a
period of stiff and inspiring economy, entrepreneurial orientation (EO) is a key driver for the success of the
organizations and profitability due to their massive economic aids to the nation-state for instance the prominent
contributors for gross domestic product (GDP) and national export earnings (Sylvia Nabila and Kalsom,2013).
Thus, it is essential for the firms to grab suitable strategies to heighten performance and corroborate their
endurance particularly in this stormy economic period. There is a great chance for entrepreneurship in Malaysia
and entrepreneurial action has the value to convey the continual problem of lower GDP through the
implementation of EO. However, the previous studies has found performances problems particularly for
Bumiputera firms. According to Hashim (2000) the Bumipytera SMEs were unable to perform in the large scale,
and that relates to the weakness of their strategy to feed in with the perceived environment. This issue is also
relating the lack of knowledge and ineffective implementation of the entrepreneurial strategies to meet the
development paradigm of the firms (Abdullah, 1997; Chee, 1986; Hashim, 2000, 2002; Shari & Endut, 1989).
Actually, the environment decides whether to invite new entries and development support to fulfil demands
(Lumpkin, 1996). However, according to Zahra and Gravis (2000), in the hostile environment, the firms are
discouraged to take necessary risk and fail to grab opportunities.
The pictures that can be seen through the problems faced Malaysian entrepreneurs particularly to SMEs
are incapability to pursue technology, insufficient access to finance, human resource inadequacy and lack of
information on market and customer (Ting, 2004). However, these issues could be resolved if there is a good and
supportive strategy from the management. Also, the top management can help if possess a unique and hard-to-
imitate capabilities to outperform competitors (Hambrick, 2007). Hence, its again relates to the level of
knowledge that entrepreneurs possessing.
The other issue for government and the firms relates to the repayment of the loan which yet to be resolved.
Several semi- formal financial bodies in Malaysia offering credit to the micro firm and SMEs firm (Starbiz, 2010), are
now in trouble because the creditors are not paying back their loans on time. According to TEKUN Nasional (2012),
non-performing loans(NPLs) for TEKUN Nasional are stagnant high at 20 percent. In September 2014, The Star
(2014) has quoted from Managing Director of the Malaysian SME, Datuk Mohd Radzif saying that SME recorded
non-performing loans as the financial period ended Dec 31, 2013 has raised by 12.3% compare with others commercial
banks. Currently, they eagerly bringing down their NPL levels to 5% in three years. NPL is a risk that the loan
institution have to face even though the total value of uncollected loans is high.
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This figure indicated bad performance for those bodies to collect back the fund. In the meantime,
Greenbaum and Thakor (1995), recommend to screening the borrower’s track record and their economic
projections in order to ensure the capability of the borrower to pay back the loan. In addition, Oke, Adeyemo and
Agbonlahor (2007) and Nwaru (2004) suggest that firms’ profit certainly influenced loan repayment. Therefore, it
is proposed to stretch appropriate skills to the entrepreneurs to develop their business skills and increase their
profit. This is very important to ensure borrowers have potential to pay back their loans if the business is
progressive. On the other hand, Nawai and Shariff (2012) asserted the reason that pushes borrowers not to be able
to reimburse their loans which relates to their attitude of uncommitted towards the loan payment, lack experience
in business, additional burden loan and other business issues.
6. Discussion and Conclusion
Entrepreneurship orientation in the business organizations particularly in the small medium enterprises turns to
become an important determinant of the economic development. We brought this issue with the intention of
SMEs that could find solutions to ameliorate their performance; thus able to return their loans, increase the profit
and exhibit positive attitude when dealing in market economy. The study discovered the provision of EO which
shift the attitude, mentality and working styles of workers, subordinates, director or owner to wind up more
inspirational state of mind and possess a great personality and some identity characteristics such as higher
tolerance of uncertainty, higher level of self-efficiency, more pro-active personality, inner locus and control and
stronger need for accomplishment. The dimensions of the EO has been tested and most of the findings
highlighting the positive outcome. However, the result could be different based on the environment that firms
operation around. In Malaysia, EO has enticed entrepreneurs and the government to pay more attention for the
purpose of increasing public and private organizational capacity to feed into EO dimensions. Business
organizations in Malaysia are now more competitive and they seem to be improved in feeding EO dimensions.
They are actively operating in the market economy and contributed to filled up gaps in the labor market. The
more performances they achieve, the more opportunities they provide and the more prosperity they bring to the
country’s economy. Thus, the government of Malaysia has tried hard to help entrepreneurs to transform their
firms into more productive and innovative organizations. Several programs like 1Met, MaGIC and GLCT
introduced to support entrepreneurs. Apart from that, several private institutions and banks offered funds and
loans to support entrepreneurs. However, there are still problem and more supports needed from government and
private enterprises to pursue EO especially in the SMEs. Entrepreneurs are lack of business knowledge,
technology and some of them are burdens government and other supportive institutions. A clear regulation should
be introduced to the creditors to pay back the money they receive as a loan. Thus inspire more private enterprises
to offer loans to the SMEs and other business organizations to survive in the competitive market economy.
Lastly, the government also needs to support firms with R&D to tackle EO related problems.
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