Abstract：
Opportunity Exploitation Mode (OEM) is a set of resource allocation decisions, which determine the successful probability of new opportunity exploitation and the survival and development of new venture. A theoretical model based on opportunity exploitation process is proposed to examine the relationship among strategic orientation, opportunity exploitation mode, and performance. Theoretical hypothesis are tested based on a sample of 108 high-tech start-ups by the structural equation modeling method. The empirical results reveal that the market orientation influences the balanced OEM positively|however, it influences the innovative OEM negatively. The entrepreneurial orientation influences the innovative OEM positively|however, it has no significant influence on the balanced OEM. Both balanced and innovative OEM influence the performance of high-tech start-ups positively. Theoretical and managerial implications of these findings are discussed in the conclusion part of the paper.
2011, Vol. 32 