Examining the Probabilities and Magnitude to Which Entrepreneurial Orientation, Industry Forces and Firm’s Resources Impact on Hotel Business Performance — Oak Academic Publishing
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Examining the Probabilities and Magnitude to Which Entrepreneurial Orientation, Industry Forces and Firm’s Resources Impact on Hotel Business Performance
Department of Hospitality Management, Takoradi Technical University, Takoradi, Ghana
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Department of Hospitality Management, Takoradi Technical University, Takoradi, Ghana
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Department of Hospitality Management, Takoradi Technical University, Takoradi, Ghana
1 Department of Hospitality Management, Takoradi Technical University, Takoradi, Ghana
2 Department of Hospitality Management, Takoradi Technical University, Takoradi, Ghana
3 Department of Hospitality Management, Takoradi Technical University, Takoradi, Ghana
In recent times, Entrepreneurial Orientation has been considered an important area that influences most hotel performance. Extant research shows there is a strong connection between business performance and entrepreneurial orientation. The objective of this study was to examine the probabilities and magnitude to which entrepreneurial orientation, industry forces, and a firm’s resources impact business performance. A review of the literature about such was used to build the conceptual framework. This study adopted quantitative research and a questionnaire survey technique was used to collect the data from small size hotels. This study used a stratified sampling method to obtain a comprehensive sample. The conceptual model is then tested with a total of 396 completed questionnaires and analyzed using logistic regression analytical model. The results showed that entrepreneurial orientation has a significant and positive correlation with the business performance of small-size hotels. Also, innovativeness, proactiveness, competitive aggressiveness and risk-taking showed significant correlations between each of the variables and business performance. The study covered some novelty aspects of the subject of entrepreneurial orientation and its effects on business performance. Thus, the use of constructs such as industry forces and firms’ resources in the theoretical framework enhances entrepreneurial orientation to impact business performance.
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