Abstract
The study purpose is to identify the impact of factors (entrepreneurial orientation, information acquisition, and information utilization) on firm performance of Small Medium Enterprises (SMEs), in Malaysia. A quantitative method was adopted in this study and responses from 150 respondents that were chosen from the list population of SMEs in Malaysia were used. Regression analysis was conducted to test the hypothesis of study and establish the causal effect of entrepreneurial orientation, information acquisition, and information utilization towards firm performance of SMEs. The findings show that only two factors (information acquisition and information utilization) influence firm performance while entrepreneurial orientation was not found to relate with firm performance. Based on the results, the researcher found that information utilization was the most influence factors on firm performance of SMEs. The researcher suggests that SMEs should strengthening the effective marketing strategy or formulation of their business. Besides that, to improve acquire information of SMEs, they should be creative and innovative. Future study should increase sample size, choose multiple background industry, use qualitative methods or use other factors to relate with the performance of SMEs.
Highlights
Entrepreneurship is one amongst the oldest activities
The link between entrepreneurial orientation (EO) and firm performance has become the most subject of interest in past literatures
This study contributes to the literature by addressing the existing gap and attempts to diagnose the factors contribute to Small Medium Enterprises (SMEs) firm performance in Malaysia
Summary
Entrepreneurship is one amongst the oldest activities. To find or establish new business prospects and to take advantage of these prospects in new ventures for economic gain has continually been vital in human life. Conceptual and Hypotheses Development The conceptual development consists of the impact of entrepreneurial orientation, information acquisition and information utilization on firm performance. The term that integrates the ideas of entrepreneurship and the information attained through the acquisition of data is ‘knowledge based entrepreneurship’ This term came in the recent literature and it’s extremely connected with the processes that interconnect the creation of novel information to the creation valuable for each entrepreneurial organization. As opposed to information need or acquisition, which is influenced by both external forces and internal requirements, information utilization is completely internal function of the company Organizational factors, such as corporate and national culture, market orientation and organizational structure play a critical role in how a company processes the information obtained in the information acquisition stage of the information life cycle.
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