The roles of diversification and specialization strategies in the entrepreneurial orientation and performance relationship

Q1 Business, Management and Accounting

Journal of Small Business and Entrepreneurship Pub Date : 2020-09-02 DOI:10.1080/08276331.2019.1646532

G. Wilson, J. Perepelkin, D. Zhang

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引用次数: 11

Abstract

Abstract This study explored the mediating roles of specialization and diversification strategies in the entrepreneurial orientation and performance relationship. The retail pharmacy industry was strategically investigated, as pharmacies can offer storefront products that are not health-related (diversification) and recent regulatory changes have permitted the expansion of professional services (specialization). Using data from 259 retail pharmacies, the results of the structural equation model showed that an entrepreneurial-oriented strategy was an antecedent to the implementation of diversification and specialization strategies, but only specialization was correlated with performance. Specifically, specialization was found to directly impact professional performance and indirectly influence financial performance. This study adds to the understanding of mediating variables in the entrepreneurial orientation and performance relationship. It underscores the importance of implementing a core-competency-driven specialization versus a diversification strategy in retail pharmacy. The article offers strategic directives for practitioners seeking to maximize the dual performance objectives of retail pharmacies.

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多元化与专业化战略在创业导向与绩效关系中的作用

摘要本研究探讨专业化战略和多元化战略在创业导向与绩效关系中的中介作用。对零售药房行业进行了战略性调查，因为药店可以提供与健康无关的店面产品(多样化)，而且最近的监管变化允许扩大专业服务(专业化)。利用259家零售药店的数据，结构方程模型的结果表明，创业导向战略是实施多元化和专业化战略的先决条件，但只有专业化与绩效相关。具体而言，专业化直接影响职业绩效，间接影响财务绩效。本研究增加了对创业导向与绩效关系中介变量的理解。它强调了在零售药房实施核心竞争力驱动的专业化与多元化战略的重要性。本文为寻求最大限度地提高零售药店的双重绩效目标的从业者提供了战略指导。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Small Business and Entrepreneurship Business, Management and Accounting-Business and International Management

CiteScore

11.90

自引率

0.00%

发文量

期刊介绍： Studies published in the JSBE can be from and based on Canada or other countries of the world. They can cover topics related to matters such as: A. Start-up and resource gathering for an SME -Starting, buying and selling an SME -Financing, funding, banking, venture capital, audit and accounting in SMEs -Entrepreneur characteristics, leadership and work-life balance -Identification of business opportunities, business incubators and mentorship -Support services to entrepreneurship and SMEs B. Functional management and growth of an SME -Sales and marketing in SMEs -Human resource management in SMEs -Operation management in SMEs -Innovation, knowledge management, learning and fast growth in SMEs -New technologies, Internet, and communication in SMEs -Regulation and taxes for SMEs -Growth of SMEs C. Strategic management and change in an SME -Strategic Management in SMEs -International entrepreneurship and SME internationalization -Networks, alliances and relationships with government and large enterprises -Managing change in an uncertain and changing environment -Factors of success and failure in SME and entrepreneurial firms D. New trends in entrepreneurship and SME management -Social entrepreneurship -Gender and female entrepreneurship -Indigenous entrepreneurship -Ethnic/diaspora/immigrant entrepreneurship -Youth and student entrepreneurship -Entrepreneurship in emerging/transition markets -Franchises, sport, health, consulting and other emerging types of SMEs -Corporate entrepreneurship E. Special topics in entrepreneurship and SME management -Family-based business -Social responsibility, environmental protection, governance, and ethics in SMEs -SMEs and regional, urban, rural, and national development -Entrepreneurship education -Epistemology, general theory development, and methods of research in entrepreneurship and SMEs -Entrepreneurship and sustainable development