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

The current study explores factors relating to self-interest, corporate social responsibility, and a resource-based 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.