The Influence of Entrepreneurial Orientation, Opportunity Recognition, and Strategic Flexibility on Business Performance: A Study on Ironmongeries in Medan
Pengaruh Orientasi Kewirausahaan, Pengenalan Peluang, dan Fleksibilitas Strategis Terhadap Kinerja Bisnis: Studi Pada Usaha Perangkat Keras di Medan
Keywords:
Entrepreneurial Orientation, Opportunity Recognition, Strategic Flexibility, Business PerformanceAbstract
As market competition intensifies, ironmongery businesses must adapt, innovate, and respond quickly to opportunities to improve performance. This research aims to analyze the influence of entrepreneurial orientation, opportunity recognition, and strategic flexibility on business performance at ironmongeries in Medan.
The theoretical framework of this study was developed to explain the relationships among the four research variables. The literature review provides theoretical and empirical support regarding the influence between these variables. Based on these explanations, four research hypotheses were formulated to examine the direct relationships among the variables.
The research employed a quantitative approach using a questionnaire distributed to owners of selected ironmongeries in Medan. This study used IBM SPSS V.26 and Microsoft Excel for data processing and analysis, involving 50 respondents. The sampling technique applied was convenience sampling.
The regression coefficients is Y = -1.008 + 0.356 (X1) + 0.334 (X2) + 0.374 (X3) + e. Based on the hypothesis testing results, Entrepreneurial Orientation, Opportunity Recognition, and Strategic Flexibility have partial and simultaneous influence on Business Performance at ironmongeries in Medan.
Based on the results, it is recommended that ironmongery owners in Medan actively monitor market trends and customer needs, evaluate competitors’ strategies, expand product variations, and respond more quickly to changing market demands to improve business performance.
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