TITLE:
Examining the Probabilities and Magnitude to Which Entrepreneurial Orientation, Industry Forces and Firm’s Resources Impact on Hotel Business Performance
AUTHORS:
Adelaide Spio-Kwofie, Nana Ama Donkor Boateng, Pearl Aba Eshun
KEYWORDS:
Entrepreneurial Orientation, Industry Forces, Firms’ Resources, Business Performance, Small Size Hotels
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.13 No.9,
September
13,
2023
ABSTRACT: In recent times, Entrepreneurial Orientation has been considered an
important area that influences most hotel performance. Extant research shows
there is a strong connection between business performance and entrepreneurial
orientation. The objective of this study was to examine the probabilities and
magnitude to which entrepreneurial orientation, industry forces, and a firm’s
resources impact business performance. A review of the literature about such
was used to build the conceptual framework. This study adopted quantitative
research and a questionnaire survey technique was used to collect the data from
small size hotels. This study used a stratified sampling method to obtain a
comprehensive sample. The conceptual model is then tested with a total of 396
completed questionnaires and analyzed using logistic regression analytical
model. The results showed that entrepreneurial orientation has a significant
and positive correlation with the business performance of small-size hotels.
Also, innovativeness, proactiveness, competitive aggressiveness and risk-taking
showed significant correlations between each of the variables and business
performance. The study covered some novelty aspects of the subject of
entrepreneurial orientation and its effects on business performance. Thus, the
use of constructs such as industry forces and firms’ resources in the
theoretical framework enhances entrepreneurial orientation to impact business
performance.