Failure learning orientation, entrepreneurial orientation, and financial performance among U.S. biotechnology firms

ABSTRACT

This article offers a new perspective on the entrepreneurial orientation, learning, and performance relationship by exploring the role of a new learning typology. Specifically, the mediating role of failure learning orientation in the entrepreneurial orientation and financial performance relationship among U.S. biotechnology companies is explored. Failure learning orientation and entrepreneurial orientation were found to have independent effects on performance. This study adds depth to the understanding of entrepreneurial orientation and firm-level learning as well as furthers the empirical examination of a new strategic orientation that conceptualizes learning from failure.

KEYWORDS:

• Entrepreneurship
• learning
• strategic management
• entrepreneurial orientation
• failure learning orientation
• learning orientation