This study aims to examine how entrepreneurial orientation affects new venture performance in a dynamic environment. The authors examine whether entrepreneurial bricolage and opportunity recognition mediate the effect of entrepreneurial orientation on new venture performance and whether environmental dynamics moderate the above effects.
This study uses questionnaires to collect data. The sample includes responses of managers from 274 new Chinese ventures. Regression analysis and bootstrapping are used to test the hypotheses.
Entrepreneurial bricolage and opportunity recognition play mediating roles between entrepreneurial orientation and new venture performance. Environmental dynamism positively moderates the relationship between opportunity recognition and new venture performance.
In a dynamic environment, new ventures should strengthen their entrepreneurial orientation, which would gradually improve their performance by improving their entrepreneurial bricolage and opportunity recognition ability.
This study innovatively explains the relationship between entrepreneurial orientation and new venture performance from the perspectives of “flexible solutions to current problems” and “discovering and grasping potential new opportunities.” It does so by using the concepts of entrepreneurial bricolage and entrepreneurial opportunity identification in the context of a dynamic environment.
