Entrepreneurial Orientation Theory

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CHAPTER TWO
LITERATURE REVIEW
2.1 Theoretical Framework
Theoretically, several literature have considered entrepreneurial orientation and its relationship with corporate performance in Europe, Africa and Nigeria, Dess and Lumpkin (2005); Lyon, Lumpkin and Dess (2000); Wiklund and Shepherd (2003a) conducted a study on the relationship between entrepreneurial orientation (EO) and performance moderating effect on the nature of environment other characteristics. Therefore, the study shows that there is a direct relationship between entrepreneurial orientation (EO) and performance, suggesting that this relationship may be moderated by characteristics such as the nature of the environment or other organizational factors. The meta-analysis conducted …show more content…

These theories have their roots in economics, psychology, sociology, anthropology and strategic management. The multidisciplinary nature of entrepreneurial management is given a close examination in this thesis.

2.1.1 Economic Entrepreneurial Theories
The economic theory to entrepreneurial orientation has been well focused on the outcomes of new entrepreneurial creation (Schumpeter, 1934). The economic theory has examined the profitability or growth of organizations in evaluating their entrepreneurial environment. The economic entrepreneurial theory has deep roots in the classical and neoclassical theories of Economics. These theories explore the economic factors that enhance entrepreneurial dimensions. Economic theory includes the following: the classical theory, Non-classical theory and innovation theory.

2.1.2 Classical …show more content…

The trait theory is an enduring inborn qualities or potentials of the individual entrepreneurs that naturally make him an Entrepreneur or have entrepreneurial skills. The obvious or logical question on mind may be “What is the exact trait or inborn qualities? However, this theory gives some insight into these traits or inborn qualities by identifying the characteristics associated with the entrepreneur? The characteristics give a clue or an understanding of these traits or inborn potentials. In fact, explaining personality traits means making inference from

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