Global Journal of Economic and Finance Research

Purpose: In the dynamic and competitive business environment of today, firms must not only focus on profitability but also on long-term sustainability. This is especially crucial for elite and influential companies like those in the Ghana Club 100, which serve as benchmarks for business excellence in Ghana. Despite increasing emphasis on sustainable development, many firms in emerging economies continue to struggle with embedding sustainability into their core strategic practices. A significant area that remains underexplored in this context is how firms' entrepreneurial orientation (EO)—their tendency to innovate, take risks, and be proactive—translates into sustainability outcomes and what internal strategic capabilities mediate or moderate this relationship.

Methodology:  A quantitative research approach is employed for this study to gather measurable data from a large number of respondents and subject the findings to statistical analysis. The study utilizes a primary data collection method through structured survey questionnaires administered to selected respondents within target firms. The target population includes managers, executives, and decision-makers of firms listed under the Ghana Club 100 ranking and other formally registered private firms across key industries. The sample size of 380 respondents was used.

Findings: The results indicate a significant positive relationship between Entrepreneurial Orientation (EO) and Strategic Agility. The results also demonstrate a significant and positive direct effect of Strategic Agility (SA) on Firm Sustainability. The direct relationship between Entrepreneurial Orientation (EO) and Firm Sustainability (FS) was found to be statistically non-significant. There is a significant positive moderating effect of Market Orientation on the Strategic Agility–Firms Sustainability relationship. Strategic Agility (SA) was found to mediate the relationship between Entrepreneurial Orientation (EO) and Firm Sustainability. 

Unique Contribution to Theory, Practice, and Policy: From a theoretical perspective, the results validate a moderated model within the dynamic capabilities framework. While strategic agility alone contributes to sustainability, its impact is significantly amplified in firms that are highly market-oriented. Theoretically, this mediation model aligns with the Dynamic Capabilities View (DCV), which posits that entrepreneurial orientation must be complemented by adaptive capabilities—such as agility—to translate into long-term sustainable outcomes. Practically, managers should foster both strategic agility and market orientation simultaneously. Firms that are agile but not customer- or market-focused may struggle to translate agility into tangible, sustainable value.

Strategic Agility, Entrepreneurial Orientation, Firms Sustainability, Market Orientation

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