Abstract
In today’s competitive business environment, the influence of strategies is directly linked to the demands of the market, particularly through individual performance, whether concerning customers or suppliers of products and services. The goal of this study was to investigate the influence between individual entrepreneurial orientation, service strategy and business performance. To that end we conducted a descriptive quantitative study with a sample of 250 respondents in the hospitality industry in Brazil. We used a conceptual model with hypotheses which we tested through the modelling of structural equations, using Smart PLS 3.0 software. The theoretical and practical implications obtained from our field research indicate that the latent variable Individual Entrepreneurial Orientation has a greater impact on service strategy, followed by a small influence of service strategy on business performance. For future research, we recommend investigating the relationship between individual entrepreneurial orientation and business performance.
Highlights
THEORETICAL REFERENCEIn today’s fiercely competitive business environment, the services industry stands out when it comes to consumers’ demands
The hypotheses we identified in the literature were: H1 – Individual entrepreneurial orientation positively influences the adoption of the service strategy; and H2 – Service strategy has a positive impact on business performance
We found that the individual entrepreneurial orientation (IEO) construct has a greater influence on service strategy, followed by a small influence between service strategy and business performance
Summary
THEORETICAL REFERENCEIn today’s fiercely competitive business environment, the services industry stands out when it comes to consumers’ demands. According to Service Brazilian Support to Micro and Small Enterprises (Sebrae 2015), the services industry has grown across the country to branch out into various segments, unveiling new business horizons where some opportunities were explored and others expanded. In this respect, companies’ performance depends on a number of factors, but the personal characteristics of the individuals who lead them are essential (Hill, Jones, & Schilling, 2014). Managers’ mission is to turn the needs of customers into the comfort and warmth of a personalized hospitality for each individual (Camargo, 2015)
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