Strategic orientation and performance of new ventures: empirical studies based on entrepreneurial activities in China

The purpose of this paper is to investigate the relationship between the strategic orientation and performance of new ventures. Based on organizational ambidexterity theory, we formed five hypotheses to describe the relationships among entrepreneurial orientation, market orientation, and technological orientation, as well as their impact on new venture performance. Using a sampling of 199 new ventures, the regression results reveal that exploration-entrepreneurial orientation and exploitation-technological orientation have a significant impact on entrepreneurial performance, whereas exploitation-market orientation does not. Interaction between entrepreneurial orientation and technological orientation shows a significant positive impact on entrepreneurial performance.