Krzysztof Wach

Krakow University of Economics, Poland

E-mail: wachk@uek.krakow.pl

ORCID 0000-0001-7542-2863

Inside entrepreneurial orientation: Do risk-taking and innovativeness influence proactiveness?

Marek Maciejewski

Krakow University of Economics, Poland

E-mail: maciejem@uek.krakow.pl

ORCID 0000-0003-1343-3764

Agnieszka Głodowska

Krakow University of Economics, Poland

E-mail: glodowsa@uek.krakow.pl

ORCID 0000-0002-5317-8625

Abstract. The article focuses on the interdependencies within entrepreneurial orientation. The objective of the study was to verify the relationship between risk-taking and innovativeness, on the one hand, and proactiveness on the other hand, as three elements of entrepreneurial orientation of internationalized firms. The main research question the article answers is: In what way do risk-taking and innovativeness influence proactiveness within the interrelated three-dimensional construct of entrepreneurial orientation? The article employs structural equation modelling (CB-SEM) to analyse survey results based on a stratified sampling of 355 internationalized firms from Poland. The empirical findings demonstrate the positive impact of risk-taking (RISK) and innovativeness (INNO) on proactiveness (PROACT) within the interrelated three-dimensional construct of entrepreneurial orientation. Moreover, the level of risk-taking (RISK) and innovativeness (INNO) accounts for 36% of the variation in proactiveness (PROACT), which is considered high in social sciences, including business studies.

Received: May, 2022

1st Revision: December, 2022

Accepted: January, 2023

DOI: 10.14254/2071-789X.2023/16-1/11

JEL Classification: L26, F23, O30

Keywords: entrepreneurial orientation, innovativeness, risk-taking, proactiveness, international entrepreneurship, internationalization of the firm, Poland, SEM