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Organizational researchers have long recognized the important role that top managers play within entrepreneurial firms (Ireland, Hitt and Sirmon 2003). Utilizing Covin and Slevin’s (1989) conceptual framework, the current study explores three key entrepreneurial characteristics of top managers and the impact these characteristics have on firm performance. Specifically, we argue that top managers with a high tolerance of risk, those who favor innovative activities and those who display a high degree of proactiveness will positively impact firm performance. In addition, this study examines the influence of top managers’ prestige, structural and expert power on the relationship between entrepreneurial orientation and firm performance. We conclude the study with a discussion of theoretical and practical implications of our findings and suggestions for future research in this area of study.

This chapter acknowledges the difficulties in the empirical study of social ventures – broadly defined as market-driven ventures that produce social change – that arise from the vast differences among social venture firms in terms of missions, goals, identities, strategies, and structures. In an effort to improve research in this area and advance the field of social entrepreneurship, the authors advocate approaching social ventures from a configurational perspective.

This chapter begins with a discussion of what social ventures are and why organizational configurations – sets of firms that are similar across key characteristics – may be an appropriate perspective to utilize. Then, two methods – cluster analysis and set-theoretic analysis – are discussed in detail as ways to approach the study of social venture configurations. Details include descriptions of the techniques, instructions for use, examples, and limitations for each.

This chapter identifies research opportunities using configurations approaches in social venture research. Substantial possibilities for multilevel and temporally based research are discussed in depth.

A configurational approach can address the incongruence and non-findings in current social venture research and offers new opportunities for future research.

Strategy and entrepreneurship have long been seen as separate realities to many scholars. In near-caricature form, the first has been seen as focused on large firms using explicit strategic planning methods supported by increasingly sophisticated information technology; and the second appeared primarily to reflect the actions of a determined, energetic, and intuitive founding entrepreneur or small entrepreneurial action team. Fortunately, many leading scholars in the two corresponding fields of study have recognized that these realities are indeed overlapping and should be approached by researchers as such, whenever possible.

Many researchers and executives have viewed fit as a key to organizational survival and high performance (Summer et al., 1990). However, the type of fit and how it can be best achieved may often be in question (Venkataraman, 1989). The current study empirically examines both external and internal fit as predictors of firm performance where: (1) external fit is the alignment of, or congruence between, the organization's strategy and/or structure and the task environment, and (2) internal fit is the multidimensional matching of strategy with structure. The argument presented here is that both internal and external fit can, and do, occur simultaneously. Further, the presence of one type of fit may compensate for deficiencies in the other. Using fit in terms of both matching and moderation, hypotheses are tested to determine the nature of both internal and external fit of strategy and structure. Testing of the hypotheses is conducted using data from the medical group industry. Findings support the influence of individual strategy and structure variables on medical group performance. However, fit found between strategy and structure, be it as matching or moderation, shows little influence on performance. Implications for medical groups and the broader health care industry are discussed.

The purpose of this article is to better understand the nature of the decision maker's cognitive‐affective information processing behavior in the context of strategic decision making.

Reviews of the psychological science, organizational behavior, and strategic management literatures serve as a foundation for the development of a model and a series of research propositions. Propositions and model development lead to a discussion regarding limitations of the current literature, as well as areas for future research that incorporates cognitive‐affective information processing issues in organizational research.

Organizational homogeneous and heterogeneous behaviors in the organizational adaptation process depend on a strategic decision maker's cognitive‐affective informational interpretation of both internal and external environmental stimuli.

The focus of this article is limited to the individual level of analysis. Further theoretical and empirical research should investigate how the framework could be applied at the team and organizational levels and how it holds under various industrial and/or environmental conditions.

This article informs practicing managers of how their decision‐making behavior is influenced by both cognition and affect when they scan and process their strategic informational environment and, furthermore, how these influence their choice of organizational forms and practices.

Extends theoretical understanding of cognitive‐affective informational processing and its influence on the organizational homogeneous‐heterogeneous adaptation process.