Opportunity Foresight and Sustainable Competitive Advantage: The Moderating Role of Entrepreneurial Persistence under Effectuation Logic

Sadaf  Manzoor; Tazeem Ali  Shah; Tasneem  Fatima

doi:10.62270/jirms.v6i4.134

Authors

Sadaf Manzoor Teaching Research Associate, Department of Business Administration, FMS, International Islamic University Islamabad https://orcid.org/0009-0002-8008-5296
Tazeem Ali Shah Department of Business Administration, FMS, International Islamic University (IIU), Islamabad https://orcid.org/0000-0002-0362-1991
Tasneem Fatima Department of Business Administration, FMS, International Islamic University (IIU), Islamabad https://orcid.org/0000-0001-7145-362X

DOI:

https://doi.org/10.62270/jirms.v6i4.134

Keywords:

Opportunity foresight, Entrepreneurial persistence, Sustainable competitive advantage, Effectuation theory, Time-lagged survey, Moderation

Abstract

Purpose—Under the condition of structural uncertainties, achieving a sustainable competitive advantage (SCA) present central strategic challenge for firms, particularly in emerging economies. This study examines the relationship between opportunity foresight and SCA development and whether entrepreneurial persistence moderates the relationship within the effectuation framework.

Study Design/methodology/approach— The study design was a two-wave time-lagged survey design, with a one-month interval between both measuring points, which collected data from 384 entrepreneurs and the top management team of SMEs and multi-venturing firms in Rawalpindi and Islamabad. Hypotheses were tested using the PROCESS macro by Hayes.

Findings— Results indicate a significant positive correlation between opportunity foresight and SCA. Moreover, entrepreneurial persistence moderates this, and the greater the entrepreneurial persistence, the stronger the impact of foresight on competitive advantage. This implies that persistence plays a critical role in facilitating the successful exploitation of foresight, which strengthens the relationship between foresight and SCA.

Practical Implications— This study posits that entrepreneurial persistence is needed for the development of leadership and its subsequent competitive advantage, especially in resource-limited settings. Though the study offers useful information, its use of perceptual scales and emphasis on companies in Rawalpindi and Islamabad may limit the generalizability of the findings.

Originality/Value— This study fills a gap in the existing body of literature on the role of opportunity foresight in creating sustainable competitive advantage in emerging economies. It combines in a unique way opportunity, foresight, and entrepreneurial persistence into the effectuation framework and empirically tests their interactive effect. The study provides a more profound idea about what entrepreneurs can do to translate strategic foresight into longer-term competitive results by defining persistence as a key boundary condition that reinforces the foresight-SCA relationship, especially in resource-scarce settings like Pakistan.