When entrepreneurial orientation is not enough: examining how resources, competition and orchestration shape firm performance

Purpose The relationship between entrepreneurial orientation (EO) and firm performance remains complex and inconclusive, leading scholars to emphasize the need for further empirical examination. Consequently, this study aims to examine the effect of EO on firm performance with the mediating effect of external resource acquisition, encompassing external tangible resource acquisition (ETRA) and external intangible resource acquisition (EIRA). It also considers competitive intensity and resource orchestration capability as moderators. Design/methodology/approach This research uses a quantitative approach, using a two-wave time-lagged survey to collect data from 307 top managers of family-owned manufacturing SMEs in Nigeria, selected via a random sampling. Findings The findings reveal that EO positively predicts firm performance, while both ETRA and EIRA mediate the link between EO and firm performance. Competitive intensity reinforces the link between EO and ETRA. Furthermore, ROC strengthens the link between EIRA and firm performance. Originality/value This study enriches knowledge on how EO, resource acquisition, competitive intensity and ROC converge to drive firm performance within family-owned SMEs in an emerging and resource-scarce context. Specifically, it advances the literature by unveiling new insights into the strategic importance of acquiring both tangible and intangible resources through EO for driving firm performance under conditions of intense competition and ROC.