“…Entrepreneurial firms often operate in industries characterized by high market dynamism and short product lifecycles, such as high-tech industries (Moriarty and Kosnik, 1989), and there is a stronger influence of EO on firm performance compared to industries with low levels of technological development (Lisboa et al, 2011). An explanation is that an entrepreneurial strategic posture allows firms to be more efficient in searching for new opportunities which arise in the market (Moreno and Casillas, 2008;Rauch et al, 2009;Wales et al, 2013), and to search in a more proactive way (Alexandrova, 2004;Frank et al, 2010). Proactive behavior also helps firms minimize the threats of product obsolescence and be ahead of competitors.…”