- European Research in Entrepreneurship series
Edited by Alain Fayolle and Paula Kyrö
Chapter 11: Linking Entrepreneurial Orientation and Dynamic Capabilities: Research Issues and Alternative Models
Jorunn Grande INTRODUCTION The purpose of this chapter is to highlight the relationship between entrepreneurial orientation (EO) and dynamic capability (DC) in small and new ﬁrms. These two concepts have received increasing attention in the separate ﬁelds of entrepreneurship and strategic management due to their connection to value creation and ﬁrm performance (Teece, Pisano and Shuen, 1997; Eisenhardt and Martin, 2000; Lumpkin and Dess, 1996; Wiklund, 1999). Following results in these ﬁelds ﬁrm-speciﬁc resources, dynamic capability and entrepreneurial eﬀorts will be essential in enabling ﬁrms to renew and sustain competitive advantage. Nonetheless even if wealth creation is at the heart of both EO and DC few studies have addressed both concepts in the same study. Researchers have also pointed out a lack of knowledge on development of DC in new ﬁrms (Newbert, 2005; Zahra et al., 2006). In addition research on entrepreneurial eﬀorts and resource reconﬁguration in small ﬁrms is limited (Dale Meyer et al., 2002). To address these research gaps possible links between the EO and DC perspectives are discussed and ﬁve alternative models are suggested to illustrate their possible relationships and their potential as a departing point for future studies. The relationship between the EO and DC approach is particularly interesting in new and small ﬁrms because elements from both concepts are likely to interact in sustaining competitiveness in these ﬁrms. Small businesses often face severe challenges when their competitive and political environment changes. Studies have shown that they are especially vulnerable in periods...
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