Entrepreneurial orientation is the set of processes, practices, and decision-making activities that lead to new market entry. The three key dimensions of entrepreneurial orientation are innovativeness, risk-taking, and competitive aggressiveness. True or false?

Question

Business

Grayson Yu

11 May, 08:55

Entrepreneurial orientation is the set of processes, practices, and decision-making activities that lead to new market entry. The three key dimensions of entrepreneurial orientation are innovativeness, risk-taking, and competitive aggressiveness. True or false?

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True

Explanation:

as an entrepreneur you must be very innovative this is your tendency to pursue creativity and experimentations of new ideas. this innovativeness is aimed at developing new goods and services. Any organization that are radical about innovations performs better than others without innovations.

Also, as an entrepreneur you must be able to have a competitive aggressiveness in order to intensely or directly challenge your competitors rather than trying to avoid them. some aggressive moves can come inform of increasing your marketing strategy, rebranding, improved quality of products and services rendered and also reduce pricing.

Risk-taking is just a trait you must have as an entrepreneur, that is your tendency to engage in bold rather than cautious actions. you have to be bold and precise. to become big you have to take some risks.

so as an entrepreneur your have to possess the three key dimensions of entrepreneurial orientation are innovativeness, risk-taking, and competitive aggressiveness.