Enhancing Entrepreneurial Strategies: Exploring the Link between Entrepreneurial Orientation and Financial Performance in Ghanaian SMEs with Economic Capability as a Moderator

Abstract: This study explores the relationship between entrepreneurial orientation (EO) and financial performance of small and medium-sized enterprises (SMEs) in Ghana's manufacturing sector, specifically within the Greater Accra Region. Given the resource-constrained environment, SMEs in Ghana contend with heightened competition, necessitating adept entrepreneurial strategies. Despite mixed findings in prior research on the EO's impact on financial performance, this study employs structural equation modeling (SEM) to analyze data from 246 SME owners and managers, evaluating the three EO dimensions. Results unveil noteworthy and favorable connections between all EO facets and firm performance, enriching the comprehension of EO's dynamics within this distinctive backdrop. These empirical findings offer practical insights to augment SMEs' EO efforts and advocate for governmental initiatives to fortify entrepreneurial activities within the sector. The research methodology integrates quantitative techniques and descriptive-explanatory methodologies, furthering the study's objectives. Additionally, economic capability is examined as a moderator, shedding light on its role in influencing the EO-financial performance nexus. Keywords: Entrepreneurial Orientation, Small and Medium Enterprises, Financial performance, Entrepreneurship Capability, Economic Capability. Title: Enhancing Entrepreneurial Strategies: Exploring the Link between Entrepreneurial Orientation and Financial Performance in Ghanaian SMEs with Economic Capability as a Moderator Author: Charles Mawuena Gates, Wu Mengyun International Journal of Management and Commerce Innovations ISSN 2348-7585 (Online) Vol. 11, Issue 1, April 2023 - September 2023 Page No: 381-392 Research Publish Journals Website: www.researchpublish.com Published Date: 17-August-2023 DOI: https://doi.org/10.5281/zenodo.8255711 Paper Download Link (Source) https://www.researchpublish.com/upload/book/Enhancing%20Entrepreneurial%20Strategies-17082023-3.pdfInternational Journal of Management and Commerce Innovations, ISSN 2348-7585 (Online), Research Publish Journals, Website: www.researchpublish.co