Mediating effects of Inbound Open Innovation on Entrepreneurial Orientation and Firm Performance
Keywords:Hyper Global Competitive, promoting entrepreneurial theory, open innovation.
In the current realm of Hyper Global Competitive Era Innovation is the specific tool for entrepreneurs to grab and exploit the domestic and regional opportunities. As a result, Innovation and entrepreneurs are capable of being learned, discipline and practiced. The synergy of both resulted in the creation of a new model called open innovation. Entrepreneurs need to search persistently for the innovative sources that can indicate opportunities for successful innovation. Nonetheless, the current literature has low focus on relationship between open innovation and entrepreneurial orientation. Hence, the aim of the study is to fill this gap and to see the relationship among different dimensions of entrepreneurial orientation with inbound open innovation and firm performance. However, quantitative techniques have been adopted while use PLS-SEM the findings more sophisticates and generalized. In this study data have been collected from 391 furniture manufacturing companies (owners and managers) Johor Malaysian through selfadministered questionnaires. The questionnaires were adapted and aimed to measure five EO dimensions of inbound open innovation with regard to firm performance. Result shows that risk-taking, innovativeness and Proactiveness positively affect the observed phenomenon. The findings also offer a valuable empirical as well as theoretical contribution. The suggested model will be more helpful in different industries as an analytical tool for open strategic management beyond closed innovation. Hence, the verifiable results are trusted guidelines for promoting entrepreneurial theory in the sense of open innovation.