This analysis reveals how entrepreneurial orientation and risk management improve SME performance, suggesting crucial strategies for survival under stagflation.
This research investigates the impact of entrepreneurial orientation and risk management on the performance and survival of SMEs in Champasak Province, Lao PDR, under stagflation conditions. Utilizing data from 450 SME owners collected via structured questionnaires, the study employs Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM) for data analysis. The findings reveal that entrepreneurial orientation, comprising innovativeness, proactiveness, and risk-taking, along with entrepreneurship risk management, including strategic, reputational, and operational risks, significantly and positively influence SME performance. This improved performance enhances competitive advantage, manifesting in market share, access, and cost advantages. The study concludes that fostering entrepreneurial orientation and robust risk management practices is crucial for SMEs in Champasak Province to thrive amidst economic challenges posed by stagflation.
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Phaxaisithidet et al. (2025) studied this question.
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