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ABSTRACT This article describes a study of the business strategies and performance levels of firms with entrepreneurial and conservative strategic postures. Data were collected from the senior executives of 111 small manufacturing firms. Results indicate that entrepreneurial firms differ from conservative firms in terms of their growth rates as well as several financial, operating, and marketing‐related variables. the data suggest that the patterns of strategic behaviour associated with high performance are different for entrepreneurial and conservative firms.
Jeffrey G. Covin (Sun,) studied this question.