Strategic Orientation of Small Business Entrepreneurs: A case of Female Entrepreneurs in Indigenous Medicine sector in Sri Lanka

Premarathne Wg*
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Premarathne Wg*: Faculty of Management, and Finance, University of Colombo, Sri Lanka

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 14, 119-130

Abstract: This study examines the strategic orientation of female entrepreneurs in indigenous medicine sector in Sri Lanka using Miles and Snow strategic typology. The overarching objective of the study is to understand how strategic orientation of Sri Lankan indigenous female entrepreneurs in indigenous medicine sector affects innovation and differentiation and to recognize most common strategic orientation in the sector. Although indigenous sector is globally regarded for producing high quality products with genuine species, yet firms in the sector is less in its competitiveness. Quantitatively, analysing data collected from forty five Ayurveda firms, the study found that defender type is the most prevalent orientation. Further, it was found that some are reactive type and hesitant to change their practices. Moreover, findings show that they lack in innovation and differentiation thereby achieving a poor performance.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:8:y:2024:i:14:p:119-130

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