A Study On The Relationship Between Entrepreneurial Orientation,Dynamic Capability And Firm Performance

With increasing global competition,the emergence of modern high technology,and rapid changes in consumer demand preferences,companies are facing a rapidly increasing environmental uncertainty.In this fast-changing competitive environment,scholars and business managers generally agree that implementing entrepreneurial orientation strategies can help enhance the competitive ability of firms.Therefore,studying how to implement and enhance entrepreneurial orientation in enterprises has received widespread attention from the academic community.In recent years,dynamic capabilities,as the soft power of enterprises themselves,have also played an increasingly important role in the consolidation and enhancement of their competitive advantages,and their impact on performance has become more and more obvious.In view of this,this paper takes Zhejiang SMEs as the research object,and on the basis of collating and summarizing the excellent literature,focuses on exploring the mechanism of entrepreneurial orientation affecting firm performance,and incorporates dynamic capabilities into the relationship between the two to analyze the mediating role played by dynamic capabilities.Based on the mature scales at home and abroad,the research designed a questionnaire based on the actual situation of Zhejiang SMEs.Through the questionnaire survey of 261 SMEs in Zhejiang Province and the quantitative analysis of SPSS23.0 and AMOS24.0 software,the paper clarifies the interrelationship between the above three,and draws the following conclusions:(1)The entrepreneurial orientation of Zhejiang SMEs can have a positive effect on corporate performance as a whole,but there is no direct correlation among its dimensions.(2)The overall entrepreneurial orientation of Zhejiang SMEs is positively correlated with the overall dynamic capabilities,but the impact of the two dimensions is different.(3)The overall dynamic capabilities of Zhejiang SMEs can positively affect corporate performance,and at the same time all dimensions can produce positive correlations.(4)As an intermediary variable between the two,dynamic capability reflects the completely intermediary influence in Zhejiang SMEs.The main innovations of this paper are the following three parts:first,existing studies mainly focus on entrepreneurial orientation on firm performance and dynamic capability on firm performance,but few studies include all three in the same research framework;second,it has been extended from the perspective of the intermediary variables of entrepreneurial orientation affecting firm performance.This article takes dynamic capability as an intermediary variable,and interprets the intermediary influence of dynamic capability and its various dimensions;.Third,the research on the impact of entrepreneurial orientation and firm performance is mostly limited to newly established firms,listed companies,and innovative technology-based companies and biopharmaceutical companies,but there are few studies on SMEs.This paper fills the gap in this part of the research to a certain extent.