The Impact of Market Orientation and Entrepreneurial Orientation on Firm Performance of Wholesale and Retailer SMES in Malaysia

Abdullah, N., & Rosli, N. F. (2015). An Evaluation on Determinants of Smes Performance in Malaysia. South East Asia Journal of Contemporary Business, Economics and Law, 7(2), 16–23.
Abebe, M. A., & Angriawan, A. (2014). Organizational and competitive influences of exploration and exploitation activities in small firms. Journal of Business Research, 67(3), 339–345.
Adams, S., Quagrainie, F. A., & Klobodu, E. K. M. (2017). Women entrepreneurial orientation, motivation, and organizational performance in Ghana. Small Enterprise Research, 24(2), 189-205.
Aimin, W. (2015). Market orientation and innovation: A review of literature. International Journal of Innovation and Economic Development, 1(1), 18-26.
Al Marzooqi, I., & Abdulla, F. (2020). Assessing the impact of physical asset management (pam) practices on the sustainable organizational performance through the lens of lifecycle model and rbv theory–triangulation approach (Doctoral dissertation, Abu Dhabi University College of Business).
Aloulou, W. J. (2019). Impacts of strategic orientations on new product development and firm performances: Insights from Saudi industrial firms. European Journal of Innovation Management, 22(2), 257–280.
Alvarez-Torres, F. J., Lopez-Torres, G. C., & Schiuma, G. (2019). Linking entrepreneurial orientation to SMEs’ performance: Implications for entrepreneurship universities. Management Decision, 57(12), 3364-3386.
Amin, M., Thurasamy, R., Aldakhil, A. M., & Kaswuri, A. H. B. (2016). The effect of market orientation as a mediating variable in the relationship between entrepreneurial orientation and SMEs performance. Nankai Business Review International.
Arief, M., Thoyib, A., Sudiro, A., & Rohman, F. (2013). The effect of entrepreneurial orientation on the firm performance through strategic flexibility: A study on the SMEs cluster in Malang. Journal of Management Research, 5(3), 44-62.
Auzzir, Z., Haigh, R., & Amaratunga, D. (2018). Impacts of disaster to SMEs in Malaysia. Procedia engineering, 212, 1131-1138.
Bank Negara Malaysia. (2019). Economic Report (2017/2018). Retrieved from https://www.bnm.gov.my/
Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of management, 17(1), 99-120.
Barney, J. B., & Arikan, A. M. (2001). The resource-based view: Origins and implications. The Blackwell Handbook of Strategic Management, 124–188.
Basco, R., Hernández-Perlines, F., & Rodríguez-García, M. (2020). The effect of entrepreneurial orientation on firm performance: A multigroup analysis comparing China, Mexico, and Spain. Journal of Business Research, 113, 409-421.
Beneke, J., Blampied, S., Dewar, N., & Soriano, L. (2016). The impact of market orientation and learning orientation on organisational performance: A study of small to medium-sized enterprises in Cape Town, South Africa. Journal of Research in Marketing and Entrepreneurship, 18(1), 90-108.
Blankson, C., Cowan, K., Crawford, J., Kalafatis, S., Singh, J., & Coffie, S. (2013). A review of the relationships and impact of market orientation and market positioning on organisational performance. Journal of Strategic Marketing, 21(6), 499-512.
Bodlaj, M., & Rojšek, I. (2010). The market orientation of Slovenian companies: two-group comparisons. economic and business review, 12(2), 89-108.
Bogatyreva, K., Beliaeva, T., Shirokova, G., & Puffer, S. M. (2017). As different as chalk and cheese? The relationship between entrepreneurial orientation and SMEs’ growth: Evidence from Russia and Finland. Journal of East-West Business, 23(4), 337–366.
Buli, B. M. (2017). Entrepreneurial orientation, market orientation and performance of SMEs in the manufacturing industry: Evidence from Ethiopian enterprises. Management Research Review.
Chavez, R., Yu, W., Jacobs, M. A., & Feng, M. (2017). Manufacturing capability and organizational performance: The role of entrepreneurial orientation. International Journal of Production Economics, 184, 33-46.
Civelek, M. E., Çemberci, M., Artar, O., & Uca, N. (2015). Key factors of sustainable firm performance: A strategic approach. Zea E-Books.
Cuevas-Vargas, H., Parga-Montoya, N., & Fernández-Escobedo, R. (2019). Effects of Entrepreneurial Orientation on Business Performance: The Mediating Role of Customer Satisfaction—A Formative–Reflective Model Analysis. SAGE Open, 9(2),1-14.
Department of statistics Malaysia, (2021). Business Tendency Statistics, 2016-2020. Retrieved from https://www.dosm.gov.my/
Dijkman, R., Lammers, S. V., & De Jong, A. (2016). Properties that influence business process management maturity and its effect on organizational performance. Information Systems Frontiers, 18(4), 717-734.
Falahat, M., Tehseen, S., & Van Horne, C. (2018). Entrepreneurial Innovativeness and Its Impact on SMEs Performances. International Journal of Entrepreneurship, 22 (3), 1-9.
Fan, D., Cui, L., Li, Y., & Zhu, C. J. (2016). Localized learning by emerging multinational enterprises in developed host countries: A fuzzy-set analysis of Chinese foreign direct investment in Australia. International Business Review, 25(1), 187-203.
Fatach, I., & Nursyamsiah, S. (2019). The Effect of Responsive and Proactive Market Orientation on Product Innovation and Company Performance: A Case Study on MSMEs in the Culinary Field in DI Yogyakarta. University Library of Munich, Germany.
Filatotchev, I., Su, Z., & Bruton, G. D. (2017). Market orientation, growth strategy, and firm performance: the moderating effects of external connections. Management and Organization Review, 13(3), 575-601.
Galbreath, J., Lucianetti, L., Thomas, B., & Tisch, D. (2020). Entrepreneurial orientation and firm performance in Italian firms. International Journal of Entrepreneurial Behavior & Research.
Gupta, V. K., & Batra, S. (2016). Entrepreneurial orientation and firm performance in Indian SMEs: Universal and contingency perspectives. International Small Business Journal, 34(5), 660–682.
Gupta, V. K., & Wales, W. J. (2017). Assessing organisational performance within entrepreneurial orientation research: where have we been and where can we go from here?. The Journal of Entrepreneurship, 26(1), 51-76.
Habib, M. A., Bao, Y., & Ilmudeen, A. (2020). The impact of green entrepreneurial orientation, market orientation and green supply chain management practices on sustainable firm performance. Cogent Business & Management, 7(1), 1743616.
Haider, S. H., Asad, M., & Fatima, M. (2017). Entrepreneurial Orientation and Business Performance of Manufacturing Sector Small and Medium Scale Enterprises of Punjab Pakistan. European Business & Management, 3(2), 21–28.
Halim, H. A., Ahmad, N. H., Ramayah, T., Hanifah, H., Taghizadeh, S. K., & Mohamad, M. N. (2015). Towards an innovation culture: Enhancing innovative performance of Malaysian SMEs. Academic Journal of Interdisciplinary Studies, 4(2), 85.
Hinson, R. E., Abdul-Hamid, I. K., & Osabutey, E. L. (2017). Investigating market orientation and positioning in star-rated hotels in Ghana. International Journal of Contemporary Hospitality Management.
Houston, F. S. (1986). The marketing concept: what it is and what it is not. Journal of marketing, 50(2), 81-87.
Hussain, J., Abbas, Q., & Khan, M. A. (2017). Entrepreneurial Orientation and Performance: The Moderating Effect of Market Orientation. Global Management Journal for Academic & Corporate Studies, 7(1), 9-18.
Hussain, J., Bibi, P., Ahmad, A., & Bilal, H. (2021). Disintegrated Market Orientation and Firm Performance: Moderating Effect of Entrepreneurial Orientation. Journal of Accounting and Finance in Emerging Economies, 7(1), 155-168.
Imran, T., Ahmed, R. R., Streimikiene, D., Soomro, R. H., Parmar, V., & Vveinhardt, J. (2019). Assessment of entrepreneurial traits and small-firm performance with entrepreneurial orientation as a mediating factor. Sustainability, 11(19), 5301.
Jaiyeoba, O. O. (2014). Performance outcome of market orientation behaviours among Botswanas' small service firms. Journal of Management Research, 6(1), 52.
Jamil, C. M., & Mohamed, R. (2011). Performance measurement system (PMS) in small medium enterprises (SMES): A practical modified framework. World Journal of Social Sciences, 1(3), 200-212.
Jiang, W., Chai, H., Shao, J., & Feng, T. (2018). Green entrepreneurial orientation for enhancing firm performance: A dynamic capability perspective. Journal of Cleaner Production, 198, 1311–1323.
Joensuu-Salo, S., Sorama, K., Viljamaa, A., & Varamäki, E. (2018). Firm performance among internationalized SMEs: The interplay of market orientation, marketing capability and digitalization. Administrative sciences, 8(3), 31.
Jogaratnam, G. (2017). How organizational culture influences market orientation and business performance in the restaurant industry. Journal of Hospitality and Tourism Management, 31, 211–219.
Kajalo, S., & Lindblom, A. (2015). Market orientation, entrepreneurial orientation and business performance among small retailers. International Journal of Retail & Distribution Management, 43(7), 580–596.
Kellermanns, F., Walter, J., Crook, T. R., Kemmerer, B., & Narayanan, V. (2016). The resource?based view in entrepreneurship: A content?analytical comparison of researchers’ and entrepreneurs’ views. Journal of Small Business Management, 54(1), 26–48.
Khana, M. P., Talibb, N. A., & Kowangc, T. O. (2020). The development of a sustainability framework via lean green six sigma practices in SMEs based upon RBV theory. Development, 12(5), 135-156.
Kharabsheh, R., Ensour, W., & Bogolybov, P. (2017). Learning orientation, market orientation and organizational performance: The mediating effect of absorptive capacity. Business and Economic Research, 7(1), 114-127.
Kiessling, T., Isaksson, L., & Yasar, B. (2016). Market orientation and CSR: Performance implications. Journal of Business Ethics, 137(2), 269–284.
Kohli, A. K., & Jaworski, B. J. (1990). Market orientation: the construct, research propositions, and managerial implications. Journal of marketing, 54(2), 1-18.
Kollmann, T., & Stöckmann, C. (2014). Filling the entrepreneurial orientation–performance gap: The mediating effects of exploratory and exploitative innovations. Entrepreneurship Theory and Practice, 38(5), 1001-1026.
Kovacs, D., Zulauf, K., Ürkmez, T., Brockhaus, D., & Wagner, R. (2016). Linking entrepreneurial orientation to firm performance in a post-socialist market context: The case of Hungary. Management Dynamics in the Knowledge Economy, 4(4), 571-589.
Kurtulmu?, B. E., & Warner, B. (2015). Entrepreneurial orientation and perceived financial performance. Does environment always moderate EO performance relation. Procedia-Social and Behavioral Sciences, 207, 739–748.
Lomberg, C., Urbig, D., Stöckmann, C., Marino, L. D., & Dickson, P. H. (2017). Entrepreneurial orientation: The dimensions’ shared effects in explaining firm performance. Entrepreneurship Theory and Practice, 41(6), 973-998.
Lonial, S. C., & Carter, R. E. (2015). The impact of organizational orientations on medium and small firm performance: A resource?based perspective. Journal of Small Business Management, 53(1), 94–113.
Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of management Review, 21(1), 135-172.
Mahmoud, M. A. (2016). Sustainable market orientation: a competitive strategic tool in an emerging economy context. Journal of Strategic Marketing, 24(7), 635-654.
Mahrous, A. A., & Genedy, M. A. (2019). Connecting the dots: The relationship among intra-organizational environment, entrepreneurial orientation, market orientation and organizational performance. Journal of Entrepreneurship in Emerging Economies, 11(1), 2–21.
Mamun, A. Al, Mohiuddin, M., Fazal, S. A., & Ahmad, G. Bin. (2018). Effect of entrepreneurial and market orientation on consumer engagement and performance of manufacturing SMEs. Management Research Review, 41(1), 133–147.
Migliori, S., Pittino, D., Consorti, A., & Lucianetti, L. (2019). The relationship between entrepreneurial orientation, market orientation and performance in university spin-offs. International Entrepreneurship and Management Journal, 15(3), 793-814.
Miller, D. (1983). The correlates of entrepreneurship in three types of firms. Management science, 29(7), 770-791.
Mkala, M., Wanjau, K., & Kyalo, T. (2017). The mediating effect of entrepreneurial orientation on the relationship between decision-making and firm performance in Kenya. 3(8), 59–64.
Moustaghfir, K., El Fatihi, S., & Benouarrek, M. (2020). Human resource management practices, entrepreneurial orientation and firm performance: what is the link?. Measuring Business Excellence.
Muda, S., & Rahman, M. R. C. A. (2016). Human capital in SMEs life cycle perspective. Procedia Economics and Finance, 35, 683-689.
Musa, H., & Chinniah, M. (2016). Malaysian SMEs development: future and challenges on going green. Procedia-Social and Behavioral Sciences, 224, 254–262.
Narver, J. C., & Slater, S. F. (1990). The effect of a market orientation on business profitability. Journal of marketing, 54(4), 20-35.
Ndiaye, N., Razak, L. A., Nagayev, R., & Ng, A. (2018). Demystifying small and medium enterprises’(SMEs) performance in emerging and developing economies. Borsa Istanbul Review, 18(4), 269-281.
Nwekpa, K. C., Chukwuemeka, O., & Ezezue, B. O. (2017). Entrepreneurial Orientation and Business Performance amongst Microbusinesses in Nigeria. IOSR Journal of Business and Management (IOSR-JBM), 19(7), 45–53.
OECD. (2017). Enhancing the Contributions of SMEs in a Global and Digitalised Economy. OECD Publishing Paris.
Ozkaya, H. E., Droge, C., Hult, G. T. M., Calantone, R., & Ozkaya, E. (2015). Market orientation, knowledge competence, and innovation. International Journal of Research in Marketing, 32(3), 309-318.
Penrose ET. (1959a). The Theory of the Growth of the Firm. Oxford University Press.
Powers, T. L., Kennedy, K. N., & Choi, S. (2020). Market orientation and performance: industrial supplier and customer perspectives. Journal of Business & Industrial Marketing, 35 (11), 1701-1714.
Powers, T. L., Kennedy, K. N., Shewchuk, R. M., & Qu, H. (2015). The Influence of Market Orientation on Firm Performance: Company and Customer Perspectives. In Ideas in Marketing: Finding the New and Polishing the Old (pp. 152-152). Springer, Cham.
Prasanna, R. P. I. R., Jayasundara, J. M. S. B., Gamage, N., Kumara, S., Ekanayake, E. M. S., Rajapakshe, P. S. K., & Abeyrathne, G. A. K. N. J. (2019). Sustainability of SMEs in the Competition: A Systemic Review on Technological Challenges and SME Performance. Journal of Open Innovation: Technology, Market, and Complexity, 5(4), 100.
Pratono, A. H., & Mahmood, R. (2015). Entrepreneurial orientation and firm performance: how can micro, small and medium-sized enterprises survive environmental turbulence? Pacific Science Review B: Humanities and Social Sciences, 1(2), 85–91.
Presutti, M., & Odorici, V. (2019). Linking entrepreneurial and market orientation to the SME’s performance growth: the moderating role of entrepreneurial experience and networks. International Entrepreneurship and Management Journal, 15(3), 697-720.
Price, D., & Stoica, M. (2015). The relationship between resources and firm performance: Factors that influence SMEs. Academy of Entrepreneurship Journal, 21(2), 87.
Razali, R., Saraih, U. N., Shaari, M. S., Abd Rani, M. J., & Abashah, A. (2018). The influences of effectiveness, competitive advantages and market accessibility on SME Performance in Malaysia. In MATEC Web of Conferences (Vol. 150, p. 05023). EDP Sciences.
Reijonen, H., Párdányi, S., Tuominen, S., Laukkanen, T., & Komppula, R. (2014). Are growth-oriented SMEs more likely to adopt market and brand orientations?. Journal of Small Business and Enterprise Development.
Rezaei, J., & Ortt, R. (2018). Entrepreneurial orientation and firm performance: the mediating role of functional performances. Management Research Review, 41(7), 878–900.
Sahoo, S., & Yadav, S. (2017). Entrepreneurial orientation of SMEs, total quality management and firm performance. Journal of Manufacturing Technology Management, 28(7), 892–912.
Saleh, A. (2015). The Role of Marketing Capabilities in Firm's Success. International Journal of Management Science and Business Administration, 2(1), 56-65.
Sani, N. Z. A. A., Thaheer, A. S. M., & Zain, Z. M. (2019). Internal, external, networking factors and challenges of Small Medium Enterprise (SMEs) Internationalization. Journal of Academia, 7, 133–141.
SME Corp., M. (2018/19). SME Annual Reports. Retrieved from http://www.smecorp.gov.my/
Soares, M. D. C., & Perin, M. G. (2020). Entrepreneurial orientation and firm performance: an updated meta-analysis. RAUSP Management Journal, 55(2), 143-159.
Sok, P., Snell, L., Lee, W. J., & Sok, K. M. (2017). Linking entrepreneurial orientation and small service firm performance through marketing resources and marketing capability: A moderated mediation model. Journal of Service Theory and Practice, 27(1), 231–249.
Sonenshein, S. (2014). How organizations foster the creative use of resources. Academy of Management Journal, 57(3), 814–848.
Song, J., Wang, R., & Cavusgil, S. T. (2015). State ownership and market orientation in China's public firms: An agency theory perspective. International Business Review, 24(4), 690-699.
Stanley, L. J., Hernández-Linares, R., López-Fernández, M. C., & Kellermanns, F. W. (2019). A typology of family firms: An investigation of entrepreneurial orientation and performance. Family Business Review, 32(2), 174-194.
Tambunan, T. (2019). Recent evidence of the development of micro, small and medium enterprises in Indonesia. Journal of Global Entrepreneurship Research, 9(1), 1-15.
Tehseen, S., Sajilan, S., Adaha, N. M. A., & Abadi, H. (2017). Barriers to retail innovation: Evidence from Malaysian retail SMEs. Australian Academy of Business and Economics Review, 2(1), 1–21.
Tsai, M. C., & Wang, C. (2017). Linking service innovation to firm performance: The roles of ambidextrous innovation and market orientation capability. Chinese Management Studies, 11(4), 730–750.
Tseng, P.-H., & Liao, C.-H. (2015). Supply chain integration, information technology, market orientation and firm performance in container shipping firms. The International Journal of Logistics Management, 26(1), 82–106.
Tseng, S. M., & Lee, P. S. (2014). The effect of knowledge management capability and dynamic capability on organizational performance. Journal of Enterprise Information Management.
Tseng, S. M., & Lee, P. S. (2014). The effect of knowledge management capability and dynamic capability on organizational performance. Journal of Enterprise Information Management, 27(2), 158-179.
Wang, K. Y., Hermens, A., Huang, K.-P., & Chelliah, J. (2015). Entrepreneurial orientation and organizational learning on SMEs’ innovation. International Journal of Organizational Innovation, 7(4), 71-81.
Webster, R. L., Hammond, K. L., & Rothwell, J. C. (2014). Market orientation effects on business school performance: Views from inside and outside the business school. American Journal of Business Education (AJBE), 7(1), 9-20.
Wernerfelt, B. (1984). A resource?based view of the firm. Strategic Management Journal, 5(2), 171–180.
Wijesekara, W. A. D. S., Samantha Kumara, P. A. P., & Gunawardana, T. S. L. W. (2016). Relationships between market and entrepreneurial orientation and organizational performance: Empirical evidence from small and medium scale garment manufacturers in Sri Lanka. Journal of Enterprising Culture, 24(01), 37-53.
Wiklund, J., & Shepherd, D. A. (2011). Where to from here? EO-as-experimentation, failure, and distribution of outcomes. Entrepreneurship Theory and Practice, 35(5), 925-946.
Yadav, S. K., Tripathi, V., & Goel, G. (2019). Modelling strategic orientation dimensions and performance of small and medium enterprises: An application of interpretative structural modelling. Journal of Modelling in Management, 14(3), 754-772.
Yoshino, N., & Taghizadeh-Hesary, F. (2015). Analysis of credit ratings for small and medium-sized enterprises: Evidence from Asia. Asian Development Review, 32(2), 18–37.
Yoshino, N., Taghizadeh-Hesary, F., Charoensivakorn, P., & Niraula, B. (2016). Small and medium-sized enterprise (SME) credit risk analysis using bank lending data: An analysis of Thai SMEs. Journal of Comparative Asian Development, 15(3), 383–406.
Yusoff, T., Wahab, S. A., Latiff, A. S., Osman, S. I., Zawawi, N. F., & Fazal, S. A. (2018). Sustainable Growth in SMEs: A Review from the Malaysian Perspective. J. Mgmt. & Sustainability, 8, 43.
Zebal, M. A., & Saber, H. M. (2014). Market orientation in Islamic banks–a qualitative approach. Marketing Intelligence & Planning, 32(4), 495–527.
Zhou, K. Z., Li, J. J., Zhou, N., & Su, C. (2008). Market orientation, job satisfaction, product quality, and firm performance: evidence from China. Strategic Management Journal, 29(9), 985–1000.

In-Text Citation: (Maaodhah et al., 2021)
To Cite this Article: Maaodhah, A. S. A., Singh, H., Al-Juboori, Z. M. A., Pitchy, A. L. B. A., & Ekene, I. (2021). The Impact of Market Orientation and Entrepreneurial Orientation on Firm Performance of Wholesale and Retailer SMES in Malaysia. International Journal of Academic Research in Business and Social Sciences, 11(6), 729–743.

Copyright: © 2021 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode