Unlocking the complementary effects of multiple strategic orientations on firm performance: an interplay of entrepreneurial, sustainability and market orientation

Abstract

PurposeThis study aims to investigate how the interplay of multiple strategic orientations influences the growth-based performance of small and medium enterprises (SMEs). The authors have specifically examined the direct and complementary effects of multiple strategic orientations [i.e. entrepreneurial orientation (EO), market orientation (MO) and sustainability orientation (SO)] on firm performance.Design/methodology/approachThe data have been collected from 410 SMEs operating in Pakistan.FindingsThe results revealed that the multiple strategic orientations (EO, SO and MO) have positive direct as well as complementary effects on SMEs' growth-based performance. Specifically, the joint effects of EO and MO were shown higher than other combinations and complementarities. Moreover, the direct effect of SO is found far lesser than the joint implementation of SO with either EO or MO.Originality/valueThis study provides key insights into corporate sustainability, strategic orientations and SME performance literature. The implications for theory, practice, policy and future research are discussed.