Are Small and Medium Scale Enterprises (SMEs) in Sri Lanka Entrepreneurially Oriented? : Evidence from Manufacturing SMEs in Western Province
W. A. D .S. Wijetunge
W. A. D. S. Wijetunge, Department of Commerce and Financial Management, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka.
Manuscript Received on December 11, 2014. | Revised Manuscript Received on December 12, 2014. | Manuscript published on December 15, 2014. | PP: 3-10 | Volume-1 Issue-3, December 2014.
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: It is evidenced that the economic growth of developing countries can be sustained by the expansion of private sector, as they are the engine of growth. In that private sector small business are playing a vital role becoming a part of the economic growth. However, it is important to ensure the sustainability of these small businesses. Amongst the different factors, many scholars have argued that Entrepreneurial Orientation is one of the salient factors which contribute to the performance of SMEs. However, the recent literature provides contradictory findings about the relationship between Entrepreneurial Orientation and performance. Accordingly this study aimed at investigating the level of Entrepreneurial Orientation (EO) of owner(s)/manager(s) of SMEs and the relationship between EO and business performance of manufacturing SMEs in Western province. This study adopted deductive approach and used both descriptive and inferential statistical tools in analyzing the collected data. Findings revealed that the Entrepreneurial Orientation (EO) among owner/managers of manufacturing SMEs in Western province is at high level. Among the dimensions of EO, innovativeness shows high influence on business performance.
Keywords: Business Performance, Entrepreneurial Orientation, Economic Growth, innovativeness, SMEs