**7. Implications**

#### *7.1. Implications for Research*

This study presents preparatory research based on racial classification and strictly on Malay-based SMEs. Our research provides numerous key contributions to the EO literature. *First*, our research adds to a better knowledge of the performance implications of EO as well as a deeper comprehension of a sub-component of the EO—performance connection. It has been demonstrated that a combination of the multiple sub-components of EO can result in improved performance, in a manner similar to the study conducted by Linton and Kask [105]. We discovered that the major sub-components in our study were risk-taking, proactivity, innovativeness, and achievement. These sub-components differed from the sub-components shown to be significant by Lee and Chong [20] in the context of Malaysian manufacturing in their study. *Second*, this research contributes to Malaysian SME literature by investigating EO on the Malay (local people) who are relatively behind in controlling Malaysia's business sectors. *Third*, our result found inconsistent results such as autonomy is found as insignificant where the new variable achievement orientation significantly to predict organizational performance. This demonstrates that the statistical relevance of EO sub-components varies based on the sample of data and industry. *Fourth*, most research focuses on developed financial markets, and little is known about SMEs in developing or emerging economies such as Malaysia. The current work makes a significant contribution to closing this gap in the literature. Early studies by Vu [106] indicated the association of the EO dimension with SMEs' success in devolving economies, and Shah and Ahmed [107] for LDCs.
