Entrepreneurship Orientation (EO) and Innovation: A Systematic Review

Abstract

In today’s changing business world, two major drivers of organizational performance and competitive advantage are innovation and entrepreneurial attitude. This article examines current literature and empirical data to give a complete analysis of entrepreneurial orientation, innovation, and the link between them. The study’ goal is to synthesize the research on these two structures and their connection. The study technique is based on an examination of literature from 2017 to 2023. Relevant articles were found and classified into three steps. These examples were then evaluated and contextualized, and the notions of innovation and entrepreneurial orientation were discussed, as well as suggestions for further study. Innovation and entrepreneurial orientation are inextricably linked and play an important role in determining an organization’s competitiveness and long-term success. Entrepreneurship orientation innovation fosters a proactive, risk-taking mentality, while innovation reinforces entrepreneurial orientation by giving the resources to capitalize on new possibilities and sustain a competitive edge. To achieve long-term development and profitability, businesses must find a balance between encouraging innovation and encouraging an entrepreneurial mindset. This work adds to the literature on EO, innovation, and the link between EO and innovation, hence broadening the scope of future research. Furthermore, the work identifies certain outstanding research problems for further study.
 Keywords: innovation, destructive innovation, product innovation, green innovation, exploratory innovation, ecological innovation, innovation ability, corporate model innovation, innovation performance