Investigating Resource Orchestration Affect the Performance of Young Entrepreneurs in Malaysia for Entrepreneurial Success
DOI:
https://doi.org/10.6000/1929-4409.2020.09.253Keywords:
Environmental Success, Individual Success, Organizational Success, Resource Orchestration, Young Entrepreneur.Abstract
The process of resource orchestration is one of the great techniques in achieving better business performance. It covers the process of structuring, bundling and leveraging resources properly, strategically and innovatively. This study, therefore, aims to analyze the relationship between resource orchestration and entrepreneurial success. The data of young entrepreneurs from PUNB have been collected and analyzed using SPSS. The findings have found that resource orchestration has a significant effect on entrepreneurial success. Therefore, it can be concluded that the role of resource orchestration can help to improve business performance. If an entrepreneur can manage resources strategically beside exploiting creativity and innovation to gain a competitive advantage, then, prosperity will be achieved.
References
Abod, S. G. (2014). Entrepreneurship and innovation: Empowering the youth. Paper presented at the 28th CACCI Conference, Plenary Theater, Kuala Lumpur Convention Centre.
Agarwal, R., Echambadi, R., Franco, A. M., & Sarkar, M. (2004). Knowledge transfer through inheritance: Spin-out generation, development, and survival. Academy of management journal, 47(4), 501-522. https://doi.org/10.2307/20159599 DOI: https://doi.org/10.5465/20159599
Alvarez, S. A., & Busenitz, L. W. (2001). The entrepreneurship of resource-based theory. Journal of Management, 27(6), 755–775. https://doi.org/10.1177/014920630102700609 DOI: https://doi.org/10.1177/014920630102700609
Awang, A., Kassim, A., Noor, A. M., Shukor, N., Shaari, A. Z., Amran, S., . . . Khalid, S. A. (2015). Strategic entrepreneurship model for economic transformation: Malaysian evidence. Asian Social Science, 11(7), 19-34. https://doi.org/10.5539/ass.v11n7p19 DOI: https://doi.org/10.5539/ass.v11n7p19
Baron, R. A., & Henry, R. A. (2010). How entrepreneurs acquire the capacity to excel: Insights from research on expert performance. Strategic Entrepreneurship Journal, 4(1), 49-65. https://doi.org/10.1002/sej.82 DOI: https://doi.org/10.1002/sej.82
Baumol, W. J., & Strom, R. J. (2007). Entrepreneurship and economic growth. Strategic Entrepreneurship Journal, 1(1-2), 233-237. https://doi.org/10.1002/sej.26 DOI: https://doi.org/10.1002/sej.26
Berrone, P., Cruz, C., Gomez-Mejia, L. R., & Larraza-Kintana, M. (2010). Socioemotional wealth and corporate responses to institutional pressures: Do family-controlled firms pollute less? Administrative Science Quarterly, 55(1), 82-113. https://doi.org/10.2189/asqu.2010.55.1.82 DOI: https://doi.org/10.2189/asqu.2010.55.1.82
Calas, M. B., Smircich, L., & Bourne, K. A. (2009). Extending the boundaries: Reframing “entrepreneurship as social change” through feminist perspectives. Academy of Management Review, 34(3), 552-569. https://doi.org/10.5465/amr.2009.40633597 DOI: https://doi.org/10.5465/amr.2009.40633597
Campbell, J. M., & Park, J. (2017). Extending the resource-based view: Effects of strategic orientation toward community on small business performance. Journal of Retailing and Consumer Services, 34, 302-308. https://doi.org/10.1016/j.jretconser.2016.01.013 DOI: https://doi.org/10.1016/j.jretconser.2016.01.013
Carnes, C. M., Chirico, F., Hitt, M. A., Huh, D. W., & Pisano, V. (2016). Resource orchestration for innovation: Structuring and bundling resources in growth- and maturity-stage firms. Long Range Planning, 1-41. https://doi.org/10.1002/sej.121
Chirico, F., Sirmon, D. G., Sciascia, S., & Mazzola, P. (2011). Resource orchestration in family firms: Investigating how entrepreneurial orientation, generational involvement, and participative strategy affect performance. Strategic Entrepreneurship Journal, 5, 307–326. DOI: https://doi.org/10.1002/sej.121
Clausen, T. H. (2006). Who identifies and exploits entrepreneurial opportunities. University of Oslo, Oslo: TIK. Retrieved from www.ccsr.ac.uk
Crook, T. R., Ketchen, D. J., Combs, J. G., & Todd, S. Y. (2008). Strategic resources and performance: A meta-analysis. Strategic Management Journal, 29(11), 1141-1154. https://doi.org/10.1002/smj.703 DOI: https://doi.org/10.1002/smj.703
Eikenberry, A. M., & Kluver, J. D. (2004). The marketization of the nonprofit sector: Civil society at risk? Public Administration Review, 64(2), 132-140. https://doi.org/10.1111/j.1540-6210.2004.00355.x DOI: https://doi.org/10.1111/j.1540-6210.2004.00355.x
Gorgievski, M. J., Ascalon, M. E., & Ute, S. (2011). Small business owners’ success criteria, a values approach to personal differences. Journal of Small Business Management, 49, 207-232. https://doi.org/10.1111/j.1540-627X.2011.00322.x DOI: https://doi.org/10.1111/j.1540-627X.2011.00322.x
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2013). Multivari-ate data analyis (7th ed.). Upper Saddle River, NJ: Prentice Hall.
Hitt, M. A. (2005). Management theory and research: Potential contribution to public policy and public organizations. Academy of management journal, 48(6), 963-966. https://doi.org/10.5465/amj.2005.19573098 DOI: https://doi.org/10.5465/amj.2005.19573098
Hitt, M. A., Ireland, R. D., Camp, S. M., & Sexton, D. L. (2001). Strategic entrepreneurship: Entrepreneurial strategies for wealth creation. Strategic Management Journal, 22, 479-491. https://doi.org/10.1002/smj.196 DOI: https://doi.org/10.1002/smj.196
Hitt, M. A., Ireland, R. D., Sirmon, D. G., & Trahms, C. A. (2011). Strategic entrepreneurship: Creating value for individuals, organizations, and society. Academy of Management Perspectives, 25(2), 57-75. https://doi.org/10.5465/amp.25.2.57 DOI: https://doi.org/10.5465/AMP.2011.61020802
Holcomb, T. R., Holmes, R. M., & Connelly, B. L. (2009). Making the most of what you’ve got: Managerial ability as a source of resource value creation. Strategic Management Journal, 30, 457–485. https://doi.org/10.1002/smj.747 DOI: https://doi.org/10.1002/smj.747
Ireland, R. D., Hitt, M. A., & Sirmon, D. G. (2003). A model of strategic entrepreneurship: The construct and its dimensions. Journal of Management, 29(6), 963-989. https://doi.org/10.1016/S0149-2063(03)00086-2 DOI: https://doi.org/10.1016/S0149-2063_03_00086-2
Kemmerer, B., Walter, J., Kellermanns, F. W., & Narayanan, V. (2012). A judgment-analysis perspective on entrepreneurs’ resource evaluations. Journal of Business Research, 65(8), 1102-1108. https://doi.org/10.1016/j.jbusres.2011.08.023 DOI: https://doi.org/10.1016/j.jbusres.2011.08.023
Loskyll, M., Heck, I., Schlick, J., & Schwarz, M. (2012). Context-based orchestration for control of resource-efficient manufacturing processes. Future Internet, 4(3), 737-761. https://doi.org/10.3390/fi4030737 DOI: https://doi.org/10.3390/fi4030737
Makri, M., Hitt, M. A., & Lane, P. J. (2010). Complementary technologies, knowledge relatedness, and invention outcomes in high technology mergers and acquisitions. Strategic Management Journal, 31(6), 602-628. https://doi.org/10.1002/smj.829 DOI: https://doi.org/10.1002/smj.829
Morrow, J. L., Sirmon, D. G., Hitt, M. A., & Holcomb, T. R. (2007). Creating value in the face of declining performance: Firm strategies and organizational recovery. Strategic Management Journal, 28(3), 271-283. https://doi.org/10.1002/smj.579 DOI: https://doi.org/10.1002/smj.579
Ndofor, H. A., Sirmon, D. G., & He, X. (2011). Firm resources, competitive actions and performance: Investigating a mediated model with evidence from the in-vitro diagnostics industry. Strategic Management Journal, 32, 640–657. https://doi.org/10.1002/smj.901 DOI: https://doi.org/10.1002/smj.901
Penrose, E. (1959). Theory of the growth of the firm. New York: Oxford University Press.
Perbadanan Usahawan Nasional Berhad, P. (2016). Entrepreneurs' directory: PROSPER usahawan muda. Retrieved from http://www.punb.com.my/index.php/en/business-directory
Rindova, V., Barry, D., & Ketchen, D. J. (2009). Entrepreneuring as emancipation. Academy of Management Review, 34(3), 477-491. https://doi.org/10.5465/amr.2009.40632647 DOI: https://doi.org/10.5465/amr.2009.40632647
Sirmon, D. G., & Hitt, M. A. (2009). Contingencies within dynamic managerial capabilities: Interdependent effects of resource investment and deployment on firm performance. Strategic Management Journal, 30(13), 1375-1394. https://doi.org/10.1002/smj.791 DOI: https://doi.org/10.1002/smj.791
Sirmon, D. G., Hitt, M. A., Arregle, J. L., & Campbell, J. T. (2010). The dynamic interplay of capability strengths and weaknesses: Investigating the bases of temporary competitive advantage. Strategic Management Journal, 31(13), 1386-1409. https://doi.org/10.1002/smj.893 DOI: https://doi.org/10.1002/smj.893
Sirmon, D. G., Hitt, M. A., & Ireland, R. D. (2007). Managing firm resources in dynamic environments to create value: Looking inside the back box. The Academy of Management Review, 32(1), 273-292. https://doi.org/10.5465/amr.2007.23466005 DOI: https://doi.org/10.5465/amr.2007.23466005
Sirmon, D. G., Hitt, M. A., Ireland, R. D., & Gilbert, B. A. (2011). Resource orchestration to create competitive advantage: Breadth, depth, and life cycle effects. Journal of Management, 37(5), 1390-1412. https://doi.org/10.1177/0149206310385695 DOI: https://doi.org/10.1177/0149206310385695
Sleptsov, A., & Anand, J. (2008). Exercising entrepreneurial opportunities: The role of information-gathering and information-processing capabilities of the firm. Strategic Entrepreneurship Journal, 2(4), 357-375. https://doi.org/10.1002/sej.60 DOI: https://doi.org/10.1002/sej.60
Woolley, J. (2010). Technology emergence through entrepreneurship across multiple industries. Strategic Entrepreneurship Journal, 4(1), 1-21. https://doi.org/10.1002/sej.80 DOI: https://doi.org/10.1002/sej.80
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Policy for Journals/Articles with Open Access
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are permitted and encouraged to post links to their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work
Policy for Journals / Manuscript with Paid Access
Authors who publish with this journal agree to the following terms:
- Publisher retain copyright .
- Authors are permitted and encouraged to post links to their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work .
