Implementing Strategic Orientations in SMEs: The role of CEO’s Market Orientation
Keywords:Strategic orientations, Individual market orientation, SMEs, Upper echelon theory, Chief Executive Officer (CEO)
The purpose of this study is to explore the influence of a CEO’s market orientation on the strategic orientations of Small and Medium Enterprises (SMEs). A survey was conducted and data were collected from a sample of 175 Senegalese SMEs. The data were analyzed using structural equation modeling in STATA. The results show that some dimensions of a CEO’s market orientation positively influence SMEs’ strategic orientations. The findings imply that CEOs must individually exhibit market-oriented behaviors to encourage the development of strategic orientations in their SME. This study contributes to the development of the literature on individual market orientation by revealing that the CEO’s market orientation constitutes a key factor for the strategic orientation in SMEs
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