Extending the resource-based view Effects of strategic orientation toward community on small business performance.pdfVIP

Journal of Retailing and Consumer Services 34 (2017) 302–308 Contents lists available at ScienceDirect Journal of Retailing and Consumer Services journal homepage: /locate/jretconser Extending the resource-based view: Effects of strategic orientation toward community on small business performance Jeffrey M. Campbell a,n, Joohyung Park b a Department of Retailing, University of South Carolina, 4005-B Carolina Coliseum, Columbia, SC 29208, United States b Department of Retailing, University of South Carolina, 4005-E Carolina Coliseum, Columbia, SC 29208, United States article info Available online 14 January 2016 Keywords: Resource-based view Strategic orientation Community Small business Instrumental stakeholder approach abstract The current study explores factors relating to self-interest, corporate social responsibility, and a resourcebased strategy to help predict small business performance across a number of domains including retailing and service-based industries. Combining the resource-based view and instrumental stakeholder approach, we suggest that resources such as social capital, entrepreneurial orientation, and intellectual capital along with strategic management of community as a stakeholder contribute to small business performance. Results from a national survey of small businesses supported the importance of both the resource-based view and the instrumental stakeholder approach to overall performance. 2016 Elsevier Ltd. All rights reserved. 1. Introduction Small businesses continue to be an important driver of the U.S. economy, comprising over 28 million businesses and contributing 48% of U.S. sales. At a total, 50% of the nations private workforce and 64% of the “net new jobs” in the U.S. between the years of 1993–2011 have been from small businesses (US SBA.gov, 2014). Although small businesses provide an important resource to the U. S. economy, not all succeed. Statistics suggest that only 20% of survive the ?rst year, and only 3% survive the ?rst ?