Exploratory Research on Relationship between Entrepreneurial Orientation Dimensions and Business Performance and Growth of Fast and Slow Growing Small and Medium Enterprises in Bosnia and Herzegovina

Abstract

This paper analyses environment in fast (gazelles) and slow growing companies (mices) using Entrepreneurial orientation (EO) dimensions and business performance in terms of sales and employee growth. The research is done using information on 178 small and medium enterprises (SMEs) in Bosnia and Herzegovina. We find that EO dimensions are more present in gazelles than in mices. We show a small to moderate significant correlation between EO dimensions and business performance of gazelles and mices. Also, any change in sales growth and employee growth might be associated with variability in innovation, risk taking and firm's age.