Empirical research on relationship between entrepreneurial resource, strategy and performance under different environment

Abstract

In this paper, we introduce environmental dynamism as the contextual factor, and conduct an empirical research on relationship of entrepreneurial resource, strategy and performance. We find that entrepreneurial resources including financial resources, human resources, management resources, information resources, technological resources, policy resources have a markedly positive impact on entrepreneurial performance, and the importance order is human resources, financial resources, information resources, technological resources, policy resources, management resources. These resources also have positive impact on entrepreneurial strategy; the richer the financial resources, human resources, information resources are, the easier it is to implement entrepreneurial strategy including cost leadership strategy and differentiation strategy; the richer the management resources are, the easier it is to implement cost leadership strategy; the richer the technological are, policy resources are, the easier it is to implement differentiation strategy. The cost leadership strategy has a lower significant impact on entrepreneurial performance compared with the differentiation strategy, and these strategies all play a partial mediating effect between entrepreneurial resource and entrepreneurial performance. Environmental dynamism plays a negative effect on the influence of financial resources, human resources, management resources, and policy resources on entrepreneurial performance and plays a positive effect on the influence of information resources, technological resources on entrepreneurial performance. Finally, we present research conclusion, trends and perspectives.