“…Based on resource-based theory, firms differ in performance depending on how their funds are organized. Strategic orientation of a firm is, thus, a key element with a bearing on the performance of the firm (Rubio & Aragón, 2009) Although, scholars have used different dimensions to conceptualize strategic orientation (Lee, Choi, & Kwak, 2014;Venkatraman, 1989) this study, is consistent with the previous studies which imagined strategic direction as integrative concept of learning orientation (Calantone, Cavusgil, & Zhao, 2002), market orientation (Kohli & Jaworski, 1990) and technology orientation (Zhou, Yim, & Tse, 2005).…”