The concept of entrepreneurial orientation in contemporary management studies

The paper attempts to define a place of the entrepreneurial orientation (EO) concept discussing the main theoretical approaches used in the contemporary research in the field of strategic management to explain the importance of entrepreneurial orientation for a firm. In particular, it is proposed to consider the role of EO from the perspective of design and planning schools in the strategic management thought, as a mechanism for firm’s adaptation to the external environment, and from the resource-based view, as a unique organizational resource that can improve firm performance and its competitiveness. In terms of both views, contingency and configurational approaches to the study of the relationships between EO, the main characteristics of firm business environment, and its performance can be applied. Contingency approach implies that the managerial practices efficiency depends on a number of contextual factors and considers two- dimensional relationships between the variables. Configurational approach is based on the same assumption; however, it involves a consideration of complex systems of multidimensional relationships between contextual variables. The paper presents a mind map showing the place of the entrepreneurial orientation concept in the contemporary management studies. The basic differences between theoretical approaches to the study of entrepreneurial orientation are discussed.