Abstract
In a rapidly changing business environment, the entrepreneurship of top management is essential for the survival and sustainable development of the enterprise. Building on the view of the strategic choice theory, this study identifies the relationship between entrepreneurship, market-oriented culture, and work engagement. Data were collected from 493 employees regularly working in small and medium-sized firms in South Korea. The results of this study indicate: (1) entrepreneurship (consisting of innovation, proactiveness, and risk-taking) has a significant positive influence on market-oriented culture, (2) entrepreneurship positively affects work engagement, (3) market-oriented culture has a significant positive effect on work engagement, (4) the effects of innovation and proactiveness on work engagement are significant, controlling for market-oriented culture, showing the partial mediating effect of market-oriented culture on work engagement, and (5) CEO trust moderates the relationship between risk-taking and work engagement. Theoretical and practical implications are suggested.
Highlights
New technology that emerges from significant changes ushered in by phenomena, such as the Fourth Industrial Revolution, invariably translates into changes within the existing business environment
A company could survive by securing a sustainable competitive advantage, provided it continues to explore business opportunities and implement flexible business management practices within a changing environment through its entrepreneurship, taking risks based on its faith in the business
We explored the linkage of entrepreneurship characterized by innovation, proactiveness, and risk-taking to work engagement
Summary
New technology that emerges from significant changes ushered in by phenomena, such as the Fourth Industrial Revolution, invariably translates into changes within the existing business environment. The organizational culture, which is the shared beliefs and values of the members of the organization, has a profound impact on the survival and development of the enterprise This is because organizational culture serves as a source of competitive advantage with intangible management resources that make up core competencies that are difficult for rival companies to imitate. This is because the performance of a company is significantly different in this era when the life cycle of products and technologies is fast approaching, depending on the organizational culture that affects the organization’s sense of unity, job security, behavior and thinking of its members. One of these organizational cultures, market-oriented culture, can ensure great performance by continuously responding to an evolving market and turning a fledgling business into a long-lasting success [2]
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