Relationships between firm resources and strategic orientations in small firms were explored in a study of 660 small firms. By using a resource-based view of the firm, we considered entrepreneurship and small business management as firm behavior—in contrast to focusing only on decisions and characteristics of the small business manager. “Managerial firms” were analyzers and used market strategies. “Technological firms” were prospectors and used product and growth strategies. “Traditional firms” avoided growth or risk-taking strategies. Firms having few resources lacked strategic orientation and were stuck in the middle.
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