The Impact Of Entrepreneurial Orientation On Enterprise Performance

At present,China's economic growth has entered the "new normal".Under the background of the transformation of China's economic structure and the further reform of the supply side,the social elimination of backward production capacity and low-end industries will face opportunities and challenges as well as face the rapidly changing external environment.The entrepreneurial behavior of enterprises has been regarded as one of the key ways to obtain sustainable competitive advantage and improve the growth performance in the academic world.Enterprises want to successfully cope with the rapidly changing external business environment,and achieve steady growth of enterprises.The introduction of entrepreneurial orientation strategy is an effective strategic measure.The introduction and development of entrepreneurial orientation strategy means that enterprises can carry out a series of innovative and advanced business operations under the guidance of this strategy,and have a certain risk bearing capacity.This means that a large number of internal and external resources are needed for the support of the enterprise.Therefore,based on the resource-based view,we explore the relationship between venture capital intervention,entrepreneurial orientation strategy and the growth performance of these enterprises based on the background of venture capital investment as a moderator.This paper mainly studies the following problems: the influence of entrepreneurial strategy orientation growth performance of small and medium-sized enterprises;risk investment enterprises,the positive impact of entrepreneurial orientation will produce stronger on growth performance;whether the degree of risk involved in the investment of enterprise management will be on the relationship between the regulatory role.The main innovations of this thesis include: Based on resource based theory,found the influence of risk investment on enterprise resource acquisition and allocation ability,decision-making and behavior,as the variable,into the research framework,the perspective of resources and management from the perspective of integration,to explore the relationship of entrepreneurial orientation and the growth performance from the perspective of risk investment;in venture investment,this paper further explores the intervention in the management of risk investment will be the extent of how to regulate.Using the proportion of wind investment to measure,further deepens the integrity of the model.This paper adopts the research methods of literature analysis and empirical combination,based on domestic and foreign relevant research and theoretical basis,empirical research based on Listed Companies in China's gem as a sample,to obtain the required sample data through the database,annual reports and other ways,using the descriptive statistical analysis of samples the statistical software,then multivariate linear regression analysis,on the assumption that the main effect of the proposed regulation effect and two hypotheses were verified.After the study,the main conclusions are as follows: the entrepreneurial orientation strategy will have a positive impact on the growth of small and medium-sized enterprises performance;compared to no risk investment shareholders background of the enterprise,the implementation of the entrepreneurial orientation strategy of high strength of risk investment enterprises,can achieve high growth performance;measured by the proportion of shares of venture capital investment the degree of involvement did not have significant moderating effect.