Article

Developing and Validating a Scale to Global Business Review

20(2) 387–404, 2019
Assess Strategic Entrepreneurship © 2019 IMI
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DOI: 10.1177/0972150918825400
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Saif Siddiqui1
Sumaira Jan1

Abstract
The combination of entrepreneurship and strategic management, called strategic entrepreneurship, is
still in its infancy, as Hitt et al. proposed it in the year 2001. Since then researchers have continuously
pushed their limits to explore it on different fronts and domains. But, so far, a mutual consent on what
actually constitutes it has not been achieved. In developing nations like India, this concept presents huge
opportunities for researchers to explore it on different dimensions and domains. Specifically talking about
the state of Jammu and Kashmir ( J & K) where entrepreneurship was once considered to be a male-
dominated field, this concept presents huge opportunities for researchers to fill in the gap. The aim of the
present study is to develop and validate a scale which can be used to assess strategic entrepreneurship
among women entrepreneurs of the state of J & K in India. The major takeaway of this study is that
innovativeness, entrepreneurial culture, entrepreneurial leadership, entrepreneurial mindset, strategic
management of resources and networking significantly load on strategic entrepreneurship. The study
proposes a significantly positive relationship between the various dimensions which means a positive
variation in one dimension leads to a positive variation in another as well and vice versa. The study
provides a scale which can be used for test–retest analysis for future studies on strategic entrepreneurship
in the state. This study is of great help to the researchers who want to explore strategic perspective of
entrepreneurship among women entrepreneurs.

Keywords
Strategy, women entrepreneurs, Jammu and Kashmir, scale, CFA model

Introduction
Entrepreneurship and strategic management, both are indispensable for organizational growth and
creation of wealth (Amit & Zott, 2001; Hitt, Ireland, Camp, & Sexton, 2001). Entrepreneurship, on the

1
Centre for Management Studies, Jamia Millia Islamia-Central University, New Delhi, India.

Corresponding author:
Sumaira Jan, Centre for Management Studies, Jamia Millia Islamia-Central University, New Delhi 110025, India.
E-mail: Sumairajannn@gmail.com
388 Global Business Review 20(2)

one hand, has organizational growth and wealth creation as its prime objectives, while strategic
management helps significantly in understanding the reasons for differences in wealth creation in
different organizations (Farjoun, 2002; Teece, Pisano, & Shuen, 1997). Researchers (Ireland, Hitt, &
Sirmon, 2003) propose the growth and wealth creation outcomes as the result of effective use of both
entrepreneurship and strategic management.
Since these disciplines have their individual existence, it was in 2001, when they were collaborated
and combined into one separate discipline called strategic entrepreneurship by Hitt and his colleagues.
Strategic entrepreneurship is concerned with simultaneous portrayal of opportunity seeking and
advantage seeking behaviours ultimately resulting in higher value to the individuals, organizations and
the society (Hitt et al., 2001). It is built around two core ideas: the formulation and execution of strategy
involves ideas which are actually entrepreneurial, including alertness, creativity, judgement and so on,
and opportunity-seeking (central subject of entrepreneurship) and advantage-seeking (central subject of
strategic management) behaviours should be considered collectively. Through strategic entrepreneurship,
an effective combination of opportunity-seeking (entrepreneurship) and advantage-seeking (strategic
management) behaviours is ensured leading to greater organizational wealth. Alone both are not sufficient,
but, together, they can act as miracles for any organization in terms of its growth, profits, performance and
so on.
Since 2001, many studies have been conducted in this field to explore its constituting elements. One
of the most significant contributions in this field was made in 2003 by Ireland et al. where four dimensions
were proposed in its domain: entrepreneurial mindset (flexibility, alertness and vision towards the
resources and their usage), entrepreneurial culture and leadership (norms and values that support search
for new ideas), strategic management of resources (management of financial, social and human capital)
and using creativity to develop innovations (convert ideas into some valuable product/service). Many
other dimensions like growth, dynamic capabilities renewal and so on have also been proposed but the
above four are supposed to constitute the core of strategic entrepreneurship.

Women Entrepreneurship in India and the State of Jammu and Kashmir

Entrepreneurship influences the growth and economic development of nations due to the activities
undertaken (Ibourk & Amaghouss, 2016; Naudé, 2010). What role women entrepreneurs can play in this
has been the concern of researchers since a long time now (Shane, 1997). Although this contribution
varies in developed and developing nations (Praag & Versloot, 2007), it still remains something which
is not yet adequately explored (Stel, Carree, & Thurik, 2005). In the wake of economic globalization
and liberalization, women entrepreneurship is gaining much importance in India. Shah (2012) believes
that for economic growth in India, more women entrepreneurs should be generated. Women are able to
return 90 per cent of every unit of investment made on them (VanderBrug, 2013). Traditionally, Indian
society was male dominated, but now the coin has flipped and women are seen as equal partners who
can give tough competition to their male counterparts (Shah & Saurabh, 2015). The northern part of
India is quite unique in terms of its population, culture, traditional trading and so on (Biswal & Sangma,
2014). The state of Jammu and Kashmir (J & K) in India also belongs to the northern part and is different
in terms of its demographic profile, societal norms, culture, trading and so on. Researchers (Dar &
Ahmad, 2013; Dar & Mir, 2013; Mir, 2012; Sharma, 2013) propose that women entrepreneurs in the
state face numerous problems, but they are still growing with each passing day and changing the frozen
thoughts of society regarding them. This calls to explore women entrepreneurs on both strategic and
entrepreneurial fronts.
Siddiqui and Jan 389

Strategic entrepreneurship is one domain which lacks exposure when it comes to the state of J & K.
Exploring the state will enable to look at the field of entrepreneurship from a different perspective.
It is expected that it will lead to solving the problems of lower GDP and high unemployment in the
state, which is at present in a very bad state as per reports by Ministry of Statistics and Programme
Implementation and Ministry of Labour and Employment, Government of India. Thus, understanding
strategic entrepreneurship at the core levels is necessary to implement it at a larger scale for solving
economic problems. So, the present endeavour serves the goal by developing and validating a scale of
strategic entrepreneurship which can provide a base or tool for empirical research on the same by future
researchers.
This study is accomplished in six sections. In the second section, a review of literature is presented
on strategic entrepreneurship and women entrepreneurship in the state of J & K. The third section
presents the major objectives of the article. The fourth section discusses research methodology adopted
and the fifth section gives analysis of the data collected. The last section provides concluding remarks,
implications and limitations of the study.

Literature Review

Previous Studies on Strategic Entrepreneurship

Altuntas in his study proposes a new model of strategic entrepreneurship based on simultaneous
application of opportunity-seeking and advantage-seeking behaviours to create value. An extensive
review of literature is used to develop the model, and then it is tested empirically with a descriptive
study on businesses listed on Borsa Istanbul (BIST)-100 Index in Istanbul. No sampling procedure is,
however, used for the same. Questionnaires were sent to managers of such businesses to know about
their perception of strategic entrepreneurship. Correlationship tool revealed that opportunity identific-
ation, strategic entrepreneurial mindset, strategic entrepreneurial leadership, entrepreneurial culture,
strategic management of resources, strategic innovativeness, growth, market value and organizational
learning have a significant bearing on the strategic entrepreneurship and hence constituted important
sub-dimensions of the model of strategic entrepreneurship. Hitt, Ireland, Sirmon, and Trahms (2011)
presented a new model of strategic entrepreneurship which is input-process-output based. Inputs
identified by the study include individual knowledge, skills, capabilities, talents, organizational resources,
environmental factors and so on, which are orchestrated to achieve certain outcomes. Outcomes include
customers, increase in wealth for shareholders, societal benefits and so on. But entrepreneurs are also
motivated when their personal needs like money, self-respect, esteem and so on are achieved. So this
model also incorporates the factors which sufficiently motivate the entrepreneurs. This study emphasizes
that strategic entrepreneurship helps to use the resources in the most effective and efficient way. Levie
and Autio (2011) discussed that entry of an individual into entrepreneurship is a strategic act to harness
their human, social and financial capital. This is, however, influenced by the institutional conditions in
which they operate. This study does an analysis of 6-year panel data from Global Entrepreneurship
Monitor (GEM) of 54 countries related to business regulations and rule of law on the strategic and non-
strategic entrepreneurial entry. The analysis revealed that rule of law has a moderating effect in the
above course. This means when rule of law is strong, then the business regulations have an impact on
the strategic entry. Corruption and property rights are seen as the consequences of the extent of rule of
law as per this study. Katila, Chen, and Piezunka (2012) in their study identify the competitive moves
with which firms achieve superior performance. This study mainly focuses on the entrepreneurial firms.
390 Global Business Review 20(2)

This study is based on 32 runs of a multi-round experiential simulation study and in-depth interviews.
The results reveal that entrepreneurial firms require competitive strategies that are different from the
controlled group of comparable large firms to stay ahead. Gelard and Ghazi (2014) in their study tried to
explore the various dimensions of strategic entrepreneurship among Iranian entrepreneurs. Questionnaires
were used to collect data from 60 entrepreneurs using judgemental sampling technique. The statistical
analysis of the study revealed that entrepreneurial mindset, innovation, capital mobilization, entrepreneurial
management and leadership, growth and profitability are the major dimensions of strategic entrepreneurship
among Iranian entrepreneurs. Hitt et al. (2001) in their study propose that entrepreneurship is all about
identification and exploitation of opportunities available through the property of risk-taking and
proactiveness behaviours to ensure innovation and creativity. But to achieve the most out of it, they are
also required to act strategically. This calls for entrepreneurship and strategic aspects to be collaborated
and linked together to create a new concept of strategic entrepreneurship as per them. Integration can
occur in several domains such as external networks and alliances, resources, organizational learning and
innovation and so on. According to Shirokova, Vega, and Sokolova (2013), strategic entrepreneurship
acts as a source of sustainable competitive advantage in a highly dynamic and uncertain business
environment at the local and global scale. It proposes a model of strategic entrepreneurship comprising
both exploration and exploitation strategies. This model was tested on 500 Russian small and medium
enterprises. It also seeks to answer a very important question as to what determines the success/failure of
any organization. The industries under study were information and communication technology, retail and
hotels/restaurants and so on. The results reveal that exploration and exploitation strategies positively
impact the firm performance in addition to factors like knowledge management. Investment in internal
resources, entrepreneurial values and developmental strategies significantly impact the firm’s performance.
These are the factors which contribute towards the strategic entrepreneurship. This study finally suggests
that in emerging economies like Russia, strategic entrepreneurship is a very important tool to enhance the
firm’s performance. Ramachandran, Mukherji, and Sud (2006) in their study focus on organizations from
the developing nations which compete in international markets. But such internationalization initiatives
are highly risky due to factors like resource scarcity in these emerging economies. This is based on a case
study from two pharmaceutical companies in India—Ranbaxy Laboratories Limited (Ranbaxy) and
Dr. Reddy’s Laboratory (DRL)—and draws its inferences from there only. They discuss that firms need
to exhibit entrepreneurial behaviour in order to cope up with the risks which come when new firms enter
and compete in the highly dynamic and competitive global markets. Case analysis revealed that this
entrepreneurial behaviour must be complemented by strategic behaviour. Such integration is achieved
through strategic entrepreneurship with which firms are able to create sustainable competitive advantage
in the highly dynamic and competitive global markets. They suggest that entrepreneurial behaviour
helps firms to enter into the global markets, while strategic behaviour allows them to create sustainable
advantage for them and successfully survive in the market, making clear that strategic entrepreneurship
serves as the same role in any economy, be it developed or developing nations. According to Scheepers
(2012), the theories of entrepreneurship are mostly focused on developed nations. In emerging economies,
such theories remain largely untested. This study attempts to know the influence of corporate strategic
entrepreneurship on entrepreneurial intensity in South African firms. A survey was conducted through
telephonic interviews with 146 established firms of South Africa. The results reveal that theories
of entrepreneurship depend on the situation of the economy. Entrepreneurial intensity depends on
organizational antecedents and perception of the opportunities available. Organizational antecedents to
create supportive internal environment include management support, autonomy and reward. The study
proposes that managers in developing economies can foster strategic entrepreneurship by focusing on
strengthening the internal environment, making members believe that opportunities are of great value to
all the stakeholders by altering their perceptions. Threats in this case are managed through the social and
Siddiqui and Jan 391

political capital. Kimuli (2006) discusses the relationship between strategic entrepreneurship, strategic
orientation, entrepreneurial orientation and performance of some specific private secondary schools
in Wakiso district of Uganda. A sample of 182 private secondary schools was taken for the exploratory
and co-relational research design. Then a questionnaire was circulated among all of them. The findings
revealed that all of the above variables show a positive relationship. So it calls on private secondary
schools to adopt a behaviour which is both entrepreneurial and strategic in its nature for growth and
wealth creation. This will also help them achieve sustainable competitive advantage. Finally, it generalizes
these findings to the new ventures as well saying that strategic entrepreneurship will substantially help
new ventures to ensure greater wealth creation. This study also makes it clear that strategic entrepreneurship
is perceived almost similarly in both developed and developing/underdeveloped nations.
Monsen and Boss (2009) in their study answer certain important questions like how do managers
and their staff members interpret and react to entrepreneurial strategies. How can related job stress be
maximized and employee retention minimized? A survey was conducted among 1,975 managers and 110
departments of a diversified health care organization. Statistical software was used for the analysis of
the data so collected. The results reveal that effective strategic entrepreneurship helps members to
overcome fears which are associated with disruptive innovations, new models of business and so on.
Gupta, Rohmetra, and Sharma (2002) discuss that effective entrepreneurship in developing markets is a
strategic process and strategic management cannot succeed without entrepreneurial orientation there.
This makes entrepreneurship and strategy inevitably linked to each other. This study is based on a sample
in Jammu which is an emerging market in India. The construct established by this study proposes a
sound relationship between the entrepreneurial strategy and the success of such sample enterprises.
Luke, Kearins, and Vereynne (2011) aimed to integrate the concepts of entrepreneurship and strategic
management to develop a conceptual framework of strategic entrepreneurship. This study was undertaken
at 12 of the 17 state-owned enterprises of New Zealand which are potentially strategic and entrepreneurial
in nature. Documents were used and interviews were conducted to arrive at some conclusion. The results
reveal that firms need to rely on core skills and resources from the strategic perspective and innovation
from the entrepreneurial perspective if they want to gain the fruits of being strategically entrepreneurial.
Malo, Martinez, and Vezina (2012) in their study explain that the field of entrepreneurship has witnessed
a huge amount of research in its domain. Same is the case with women entrepreneurship and collective
entrepreneurship among them. Essay method is used by this study to identify the relationship between
women’s collective entrepreneurship and the strategies they adopt. This study proposes that women have
to develop their entrepreneurial strategies related to resource allocation based on public policies prevalent
in the state. Hence, the strategies they follow are affected by the policies prevalent in their respective
states. Ireland (2007) in his study focuses on the interdependence of strategy and entrepreneurship
which collectively leads to the concept of strategic entrepreneurship. The study believes this concept to
be a new one and requires scholars to intensely investigate the level of dependence of strategy and
entrepreneurship. The study believes that this concept will help researchers to understand how proper
utilization of this concept can help organizations to achieve opportunity ceasing with gaining maximum
sustainable profitability and advantage. So it will help to achieve better performance of the organizations
in a more rational way.

Previous Studies on Women Entrepreneurship in the State of J & K

Mustafa (2013), in his study, has shown the prospects and challenges of women entrepreneurship in the
state of J & K. This study was performed by circulating a structured questionnaire among 60 women
392 Global Business Review 20(2)

entrepreneurs in different regions of the state. Support from government in the form of subsidies and
incentives was seen to significantly motivate women entrepreneurs. Irrespective of these problems, there
are still a significant number of entrepreneurs in the state in all the three regions including Kashmir,
Jammu and Ladakh. Parihar, Kher, Nanda, and Singh (2013) conducted a study to know about the
entrepreneurial characteristics of women entrepreneurs in the state of J& K. This study is specifically
targeted at women entrepreneurs from Jammu district. Based on a sample of 240, the study revealed that
women entrepreneurs in Jammu region have low entrepreneurial competencies. To make women
entrepreneurs successful, it is essential to give them training and support, make them aware of the various
schemes and programmes available for them, create a conducive scenario for them to work in and
inculcate sufficient levels of confidence in them, as per this study. According to Jyoti, Sharma, and
Kumari (2011), women-owned enterprises are one of the fastest growing populations in India. This
article focuses on what affects the orientation and satisfaction of the women entrepreneurs in the state
of J & K. The factors chosen are related to social, psychological and financial. Support from the
family and earnings from the venture are seen to significantly satisfy the women entrepreneur. Self-
confidence, financial interdependence and determination decide the orientation of the entrepreneur
towards the success of their venture as per this study. Shah and Mustafa (2014) in their study on women
entrepreneurship in the state of J & K discuss that state has a pretty large number of unemployed
women consisting of significant number of widows and half-widows. This study was performed by
conducting a survey among 75 women entrepreneurs spread across different parts of the Kashmir Valley.
The study revealed that although the women entrepreneurs face many challenges, their skills are
improving at a good rate. Study reveals that the women’s inner drive along with financial and familial
support seem to be some of the main reasons among numerous factors motivating women to take up
entrepreneurship.
Upon reviewing the relevant literature, significant studies were found which explored different
dimensions of strategic entrepreneurship. Most important of these dimensions which have been considered
for the present study include:

1. Innovativeness: It constitutes a very significant component of strategic entrepreneurship. This

is supported by Ireland, Hitt, Camp, and Sexton (2001), Hitt et al. (2001), Ireland et al. (2003),
Altuntaş (2010), Hitt et al. (2011), Gelard and Ghazi (2014).
2. Entrepreneurial culture: Strategic entrepreneurship has entrepreneurial culture as one of its
most important dimensions. Researchers such as Ireland et al. (2003), Altuntaş (2010) and Hitt et
al. (2011) support this.
3. Entrepreneurial leadership: Researchers like Ireland et al. (2003), Hitt et al. (2011) and Gelard
and Ghazi (2014) have proposed it as one of the most contributing dimensions of strategic
entrepreneurship.
4. Entrepreneurial mindset: This is suggested in the work of Ireland et al. (2003), Altuntaş (2010),
Hitt et al. (2011) and Gelard and Ghazi (2014).
5. Strategic management of resources: Hitt et al. (2001), Ireland et al. (2003), Altuntaş (2010), Hitt
et al. (2011) and Gelard and Ghazi (2014) propose strategic management of resources as one of
the very essential dimensions of strategic entrepreneurship.
6. Networking: This is suggested by the work of Ireland et al. (2001), Hitt et al. (2001), Hitt et al.
(2011) and so on.
Siddiqui and Jan 393

Rationale of the Study

The annual report of Ministry of Statistics and Programme Implementation, Government of India,
reveals that the annual GDP of the state of J & K in the year 2014–2015 was `8,79, 210 million which is
one of the lowest in any Indian state. Its unemployment rate as per the 4th Annual Employment–
Unemployment Survey Report by Ministry of Labour and Employment, Government of India, in 2013–
2014 was 4.9 per cent which is one of the highest in the country.
Strategic entrepreneurship may provide a solution to the problem of growth and creation of wealth, as
already been deduced by various researchers. But this concept is not yet been evaluated for the state of J
& K. So, the present endeavour proposes a study of strategic entrepreneurship among women as a tool
to reduce unemployment and enhance economic growth. This concept needs to be studied at the core
level as few researches are available on the said concept in the state. This study will also explore the
constituents of strategic entrepreneurship for the state of J & K to understand it at the most basic level.
Also review of literature on strategic entrepreneurship reveals that since this concept is relatively new,
researchers are still debating on taking any stand on what actually constitutes it. Literature on strategic
entrepreneurship among women is lesser than other disciplines and meagre for the state of J & K.
Furthermore, after reviewing the relevant literature, any model of strategic entrepreneurship for women
of the state of J & K is found to be non-existent. So a research gap is evident.

Data and Methodology

Research Objectives
The major objective of this research is to develop and validate a scale to assess strategic entrepreneurship
among women entrepreneurs of the state of J & K. We will also decipher major dimensions of strategic
entrepreneurship existing among women entrepreneurs of the state and which among them are most
contributing. And finally an empirical model of strategic entrepreneurship will be put forward by the
research article based on the data collected from the women entrepreneurs of the state of J & K.
This study intends to explore the entrepreneurial mindset, culture and leadership of women
entrepreneurs. To know how they manage their resources and how they use creativity for innovation is
also planned.

Data Sources and Sampling Frame

The data used in this study have been collected by administering a structured questionnaire to 405
women entrepreneurs belonging to the state of J & K in India. The sample size was derived from the
total population of 10,700 as per latest report published by the Ministry of Commerce and Industries,
J & K, 2014. The entrepreneurs were randomly selected from the list provided by Jammu & Kashmir
Entrepreneurship Development Institute (JKEDI), using random numbers generated through Microsoft
Excel and asked varied questions to explore their strategic perspective of entrepreneurship. Using the
standard formula for calculation of a sample size at a 95 per cent confidence level and confidence
interval 5, we obtained a sample size of 384 (Cohen, Manion, & Morrison, 2013; Krejcie & Morgan
1970). This was the lower limit for the sample size, but we were able to take more responses and extended
394 Global Business Review 20(2)

it to 405. The primary survey was performed during the time period September 2015–February 2016.
These women entrepreneurs are operating from any of the 22 districts of the state, namely:

S. No. District S. No. District S. No. District

1 Srinagar 9 Shopian 17 Reasi
2 Jammu, 10 Kupwara 18 Doda
3 Budgam 11 Ganderbal 19 Kishtwar
4 Baramulla 12 Ramban 20 Kulgam
5 Pulwama 13 Bandipora 21 Kargil
6 Anantnag 14 Kathua 22 Leh
7 Udhampur 15 Samba
8 Rajouri 16 Poonch

The report from the Ministry of Commerce and Industries 2014 provides that 96.7 per cent women
entrepreneurs in the state are from Kashmir valley, 2.8 per cent are from Jammu region and the rest 0.5
per cent belong to Leh/Ladakh region. We also distributed our sample as per the proportions given.

Data Analysis and Interpretation

Before moving on with the empirical analysis, the data were checked for any missing values and normality.
No missing values were found in the data. Normality was checked at both univariate and multivariate levels
to determine if the data were well modelled and possessed normal distribution. Normality was checked by
using descriptive statistics for skewness and kurtosis, Anderson-Darling’s normality test, Shapiro-Wilk’s
test, Mardia’s multivariate normality test and Henze–Zirkler’s multivariate normality test. The results of
these tests are given in Table 1:
Univariate Normality Testing
For data to be normal, the values of skewness and kurtosis are supposed to be in the threshold range
of ±2.0 and ±3.0, respectively (Bollen, 1989). As the values were not in this range, proposing non-
normality of data.
Other tests like Anderson–Darling’s test and Shapiro–Wilk test also proposed non-normality of data
since p-value was significant in each case and less than 0.05 and null hypothesis was accepted. Hence,
the data are non-normal at univariate level.

Table 1.  Descriptive Statistics

Standard
N Mean Deviation Median Min Max 25th 75th Skewness Kurtosis
Inn 405 27.894 8.234 31 7 35 28 33 −1.461 0.658
EC 405 18.704 3.100 20 4 20 19 20 −2.840 7.309
EL 405 13.481 2.449 14 3 15 13 15 −2.650 6.859
EM 405 15.938 3.307 16 4 20 16 18 −1.500 2.260
SMR 405 17.585 3.261 19 4 20 17 20 −2.151 4.590
NET 405 17.706 4.132 19 4 20 18 20 −2.029 2.777
Source: The authors.
Siddiqui and Jan 395

Table 2.  Anderson–Darling’s Normality Test

Variable Statistic P-value Normality

Inn 0.7283 0.0000 NO
EC 0.4802 0.0000 NO
EL 0.6062 0.0000 NO
EM 0.8039 0.0000 NO
SMR 0.7137 0.0000 NO
NET 0.5961 0.0000 NO
Source: The authors.

Table 3.  Shapiro–Wilk Normality Test

Variable Statistic P-value Normality

Inn 46.5718 0.0000 NO
EC 89.2849 0.0000 NO
EL 55.1693 0.0000 NO
EM 30.4879 0.0000 NO
SMR 37.0957 0.0000 NO
NET 70.2805 0.0000 NO
Source: The authors.

Multivariate Normality Testing

At the next stage, data were checked for multivariate normality using Mardia’s multivariate normality
test and Henze–Zirkler’s test. Again p-value was found to be significant and less than 0.05, which made
us accept the null hypothesis of data not possessing multivariate normality.
Earlier absence of the normality in data forced researchers to use the non-parametric techniques
for further analysis. However statistical software packages like SAS and Mplus use tools which do not
require data to be normal. So the current study employs Mplus software with Multiple Linear Regression
(MLR) estimation for confirmatory factor analysis (CFA) to achieve its objectives.

Table 4.  Mardia’s Multivariate Normality Test

g1p: 31.28102 g2p: 115.82 Chi-small skewness: 2131.61

chi-skewness: 2111.469 Z-kurtosis: 69.64979 p-value: 0.0000
P-value skewness: 0.0000 P-value kurtosis: 0.0000
Source: The authors.

Table 5.  Henze–Zirkler’s Multivariate Normality Test

HZ 32.49713
P-value  0.0000
Source: The authors.
396 Global Business Review 20(2)

Table 6.  Demographic Profile of Respondents

Valid Frequency Percentage

Age Below 20 6 1.50
20–40 292 72.1
40–60 107 26.4
Above 60 0 0.00
Educational Qualification Secondary/Senior secondary 206 50.9
Graduate 139 34.30
Post graduate and over 48 11.9
Other 12 3.00
Income (`) Less than 25,000 157 38.80
25,000–50,000 134 33.10
50,000–75,000 91 22.50
More than 75,000 23 5.70
Exporter Yes 2 0.50
No 403 99.50
Source: The authors.

Profile of the Respondents

A brief overview of the demographic profile of respondents is given in Table 6.
Table 6 depicts that most of the respondents are in the age group of 20–40 with just a couple of them
exporting what they produce. Income levels are not as high as survey was done among small enterprises
of the state of J & K.

Confirmatory Factor Analysis

It is a measurement modelling technique which helps to map measures onto theoretical constructs. This
is connoted by the corresponding loadings of the constructs measured. This will help us to ascertain
if innovativeness, entrepreneurial culture, entrepreneurial mindset, entrepreneurial leadership, strategic
management of resources and networking adequately load on the strategic entrepreneurship among
women entrepreneurs belonging to the state of J & K. For this purpose, Mplus Version 7 was used devel-
oped by Muthen and Muthen (1985–2015). Table 7 shows the factor loadings of 26 items selected for
representing strategic entrepreneurship among women entrepreneurs of the state of J & K. The results of
CFA are presented in Table 7.
After performing CFA, we got the factor loadings and model fit indices as depicted in Tables 7 and 8.
All the variables including innovativeness, entrepreneurial culture, entrepreneurial mindset, entrepreneurial
leadership, strategic management of resources and networking loaded adequately on the strategic entrepre-
neurship as values are higher than 0.75 in all the cases and are significant also. Although researchers like
Bowen and Guo (2011) suggest that values of 0.4 are respectable. Model fit indices are all supporting the
model as values are in their prescribed range:

CFI—it should be greater than 0.9 for a model to be acceptable (Cheung & Rensvold, 2002).
TLI—acceptable value for this index is 0.9 (Cheung & Rensvold, 2002).
RMSEA—model is acceptable if value is less than or equal to 0.05.
Siddiqui and Jan 397

Table 7.  Factor Loadings

Factor Loadings:
Factor (R )
2
Items I II III IV V VI
Innovativeness Over the next few years, we could change 0.913
(57.8% of up to 50% of the processes that support our
variance)—Inn current business model (Inn1)
We have already put measurable resources 0.877
(human and financial) behind our innovation
agenda (Inn2)
We have a good record of rolling out new 0.851
products and services in the market (Inn3)
Innovation is a core value in this organization 0.862
(Inn4)
Our strategic planning process is oriented 0.892
towards grabbing the opportunity (Inn5)
Our strategic initiatives aim at gaining 0.858
competitive advantage (Inn6)
We strongly emphasize research and 0.89
development, technological leadership and
innovations (Inn7)
Entrepreneurial We have many promising ideas that we have 0.819
culture (50% of time and resources to pursue (ec1)
variance)—EC
We change according to changes in the 0.852
external environment (ec2)
We never lack ideas that we can convert into 0.807
profitable services (ec3)
We focus on improving our firm’s existing 0.865
services (ec4)
Entrepreneurial We passionately pursue entrepreneurial 0.914
mindset (71.9% of opportunities (em1)
variance)—EM
We emphasize the disciplined pursuit of the 0.87
promising opportunities (em2)
We usually have consistent focus on execution 0.88
(em3)
We have a commitment to engage everyone 0.827
in identifying and pursuing entrepreneurial
opportunities (em4)
Entrepreneurial We emphasize good interpersonal relations, 0.815
leadership (55.2% tactful and diplomatic leadership (el1)
of variance)—EL
Our leadership is able to persuade others of 0.836
our viewpoint (el2)
We emphasize giving courage and confidence 0.851
through reassuring and advising (el3)
(continued)
398 Global Business Review 20(2)

Table 7.  (continued)

Factor Loadings:
Factor (R )
2
Items I II III IV V VI
Strategic We focus on the firm-specific resources that 0.758
management of can be used to protect a competitive advantage
resources (79.7% (smr1)
of variance)—SMR
Our resources are managed strategically 0.782
so that they foster simultaneous use of
opportunity and advantage-seeking behaviours
(smr2)
We have ability to strategically structure the 0.857
resource portfolio (smr3)
We encourage strategic and gradual processes 0.826
of acquiring and using resources (smr4)
Networking We have strong ties with all the stakeholders 0.926
(65.1% of of the firm (net1)
variance)—NET
We use our relationships with stakeholders to 0.873
gain access to resources (net2)
We associate with organizations like that of 0.78
ours to learn from them (net3)
We use our relationships with the 0.883
stakeholders to market ourselves (net4)
Source: The authors.
Note: Significant at p < 0.01.

Table 8.  Model Diagnostics

Chi-square (|2) 425.158

Degree of freedom (df ) 293
P-value 0.0000
Scaling correction factor for MLR 1.9312
CFI (comparative fit index) 0.968
TLI (Tucker–Lewis index) 0.964
RMSEA (root mean square error of approximation) 0.033
SRMR (standard root mean square residual) 0.037
Source: The authors.
Note: Significant at p < 0.01.

SRMR—value below 0.80 is a good fit (Hu & Bentler, 1999).

χ2/df (relative chi-square)—it should preferably be less than 2 for a good model fit as per Tabachnick
and Fidell (2007).

Hence, we have achieved a good model fit with respectable factor loadings, indicating an efficacious
CFA.
Siddiqui and Jan 399

Table 9.  Reliability and Validity Results

CR AVE MSV ASV SMR Inn EC EM EL NET

SMR 0.881 0.651 0.578 0.481 0.807        
Inn 0.959 0.771 0.476 0.373 0.627 0.878      
EC 0.903 0.699 0.440 0.334 0.663 0.518 0.836    
EM 0.928 0.763 0.578 0.440 0.760 0.690 0.564 0.873  
EL 0.873 0.696 0.460 0.364 0.678 0.567 0.585 0.605 0.834
NET 0.924 0.752 0.536 0.407 0.732 0.639 0.548 0.679 0.573 0.867
Source: The authors.
Notes: CR—Composite reliability; AVE—average variance extracted; MSV—maximum shared variance; ASV—average shared
variance.

Validity and Reliability

Next, the instrument was checked for its reliability and validity using composite reliability (CR), average
variance extracted, maximum shared variance and average shared variance. The values are presented
in Table 9:
As per Hair, Black, Babin, and Anderson (2010), for the data to be reliable, CR should be greater than
0.7. For convergent validity, AVE should be greater than 0.5 and for discriminant validity both MSV and
ASV should be less than AVE. Table 9 depicts that our data are fulfilling all these conditions which
makes us draw the inference that the data used by us are both reliable and valid enough for further
processing. The overall model, with all its loadings, errors and variances, for strategic entrepreneurship
is given in the Figure 1.
To know about how the various variables interact with each other, correlation tool was used. All the
co-relationships were found to be significantly positive. None of the relationships was found to be negative.
It means that a positive variation in one component leads to a significant positive variation in another
component of strategic entrepreneurship as used in the study and vice versa. Highest co-relationship was
found between strategic management of resources and entrepreneurial mindset (0.499). None of the co-
relationships was found to be high suggesting that multicollinearity issue is not there. It also depicts that
respondents perceived each of these components differently. Multicollinearity occurs when the variables
under consideration are very highly correlated, that is, 0.90 and above (Tabachnick & Fidell, 2007). Since
the condition was not fulfilled, we arrive at such conclusion about multicollinearity.

Results and Discussion

The results reveal that innovativeness, entrepreneurial culture, entrepreneurial mindset, entrepreneurial
leadership, strategic management of resources and networking significantly contribute towards strategic
entrepreneurship among women entrepreneurs of the state of J & K.
All of them portray respectable loadings (more than 0.75) which enable us to make such inter-
pretation. This is in congruence with the findings of Ireland et al. (2003), Hitt et al. (2011) and so on.
It implies that while showcasing opportunity-seeking and advantage-seeking behaviours simultaneously,
the women entrepreneurs of the state of J & K are basically driven by their entrepreneurial mindset, inno-
vativeness, entrepreneurial culture, entrepreneurial leadership, strategic management of resources and
networking with the stakeholders. Innovativeness, entrepreneurial mindset and networking showcase
400 Global Business Review 20(2)

Figure 1.  Model Depicting Loadings of Various Constructs and Items of Strategic Entrepreneurship Among
Women Entrepreneurs of Jammu & Kashmir
Source: The authors.
Notes: SE—Strategic entrepreneurship; EL—entrepreneurial leadership; Inn—innovativeness; SMR—strategic management of
resources, EC—entrepreneurial culture; NET—networking; EM—entrepreneurial mindset.
Disclaimer: This is the best available resolution provided by the author.

maximum loadings, indicating their maximum contribution to the strategic perspective of entrepreneur-
ship among women entrepreneurs of the state of J & K.
Moreover, the model diagnostics reveal a good model fit in terms of relative chi-square, Comparative
Fit Index, Tucker Lewis Index, Root mean square error of approximation and standard root mean square
residual, indicating an efficacious CFA. This indicates that the model is both valid and reliable.
The results also reveal that the scale used is robust and can be used for future studies as well. The
R-square values were also good, thereby giving an impression that the scale can be used for test–retest
analysis. Correlation analysis revealed significant positive relationships between the various dimensions
of strategic entrepreneurship already explored. None of the relationship was found to be insignificant or
Siddiqui and Jan 401

Table 10.  Correlation Table

Strategic
Pearson Entrepreneurial Entrepreneurial Entrepreneurial Management
Correlation Innovativeness Culture Leadership Mindset of Resources Networking
Innovativeness 1
Entrepreneurial 0.244** 1
culture
Entrepreneurial 0.174** 0.239** 1
leadership
Entrepreneurial 0.396** 0.318** 0.286** 1
mindset
Strategic 0.286** 0.341** 0.283** 0.499** 1
management of
resources
Networking 0.182** 0.241** 0.336** 0.127** 0.249** 1
Source: The authors.
Note: **All correlations were found to be significant at the 0.01 level (2-tailed).

negative. It means a positive variation in one dimension leads to positive impact on the other dimension
as well and vice versa.

Conclusion
The most significant takeaway of this study is that women entrepreneurs of the state of J & K exhibit
opportunity-seeking and advantage-seeking behaviours simultaneously as measured by their entrepreneur-
ial mindset, entrepreneurial culture, entrepreneurial leadership, innovativeness, strategic management of
resources and networking. Innovativeness, entrepreneurial mindset and networking exhibit maximum con-
tribution to the measurement of strategic entrepreneurship among women entrepreneurs of the state of J &
K. All of these dimensions are positively correlated which means that any positive variation in one leads to
a corresponding positive variation in another as well.
This study shall be useful to researchers, entrepreneurs and policymakers.

Managerial Implications
This study is an important step towards understanding strategic perspective of entrepreneurship among
women entrepreneurs of the state of J & K. It is important as it explains their simultaneous portrayal of
opportunity- and advantage-seeking behaviours. This study will raise awareness about the strategic
entrepreneurship practices among women entrepreneurs in the state.
It will also help policymakers to understand the problems related to strategic entrepreneurship faced
by women entrepreneurs and provide necessary solutions to the same. They can use this study to frame
policies and guidelines supporting women entrepreneurship in the state. This will help them curb the
problems of unemployment and other growth-related issues of the state.
Other women entrepreneurs can use it to understand how they can develop sustainable competitive
advantage to survive and grow in the highly dynamic and competitive markets. Researchers can use this
402 Global Business Review 20(2)

study as a base for exploring further dimensions and understanding of strategic entrepreneurship among
women entrepreneurs in the state of J & K. This study proposes a preliminary model of strategic
entrepreneurship as employed by women entrepreneurs of the state of J & K. Moreover this model can
be employed to assess the impact on the overall performance of the organizations and economic
development of the state of J & K.

Limitations
As this study is survey based, a representative sample is required. Appropriate sample has been taken.
But a much larger sample size would give better results. The findings of the study are based on the
expressed opinions of the respondents which are subjected to normal errors inherent in human nature.

Acknowledgement
The authors are grateful to the anonymous referees of the journal for their extremely useful suggestions to improve
the quality of the article. Usual disclaimers apply.

Declaration of Conflicting Interests

The authors declared no potential conflicts of interest with respect to the research, authorship and/or publication of
this article.

Funding
The authors received no financial support for the research, authorship and/or publication of this article.

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