Pearson product-moment correlation matrix including corporate entrepreneurship dimensions of strategic management included in the study, and control variables. N ranges from 148 to 167Variable NameMeanS.D.1234567891011

Corporate Entrepreneurship4.481.05(0.87)

Scanning Intensity4.920.830.16(0.83)

Planning Flexibility4.820.850.340.11(0.80)

Planning Horizon2.321.270.130.300.25(0.90)

Locus of Planning4.110.960.190.480.250.31(0.89)

Strategic Controls5.570.920.290.330.290.310.33(0.64)

Financial Controls5.411.040.040.320.110.240.190.33(0.77)

Environmental Turbulence3.880.800.090.14-0.130.120.08-0.11-0.08(0.67)

Environmental Complexity3.791.120.100.10-0.040.150.10-0.050.000.25(0.73)

Firm Size3.671.91-0.210.15-0.100.22-0.02-0.070.280.04-0.03

Debt Level2.752.13-0.05-0.110.10-0.10-0.030.04-0.11-0.02-0.09-0.46

Current Ratio3.013.19-0.04-0.06-0.03-0.06-0.01-0.00-0.20-0.09-0.00-0.390.74

Data Analysis:The sample size for this study is 169. The data is collected through a mail survey. This survey and its representatives, which are 169, represent a broad cross-section of the manufacturing sector in United States. The largest number of responses came from SIC 35, Machinery except electrical. The number of responses from this source was 36. A total of 17 of the 20 SIC codes in the manufacturing sector were represented in the sample, improving the studys generalization. The tools used to analyze the data were mean, standard deviation, Pearson product-moment correlations, and coefficient alphas. The range was broad for the responses to all the variables. This avoided a restriction of range problem in the data. The correlation matrix shows statistically significant correlations in the direction expected between corporate entrepreneurship and four of the six dimensions of strategic management included in the study.Corporate entrepreneurship had a positive correlation with the following variables: Scanning Intensity (p < 0.05) Planning Flexibility (p < 0.01) Locus of Planning (p < 0.05) Strategic Controls (p < 0.01)Corporate entrepreneurship has no significant positive correlation with planning horizon and financial controls. As the correlation matrix indicates, the inter-correlations among the dimensions of strategic management included in the study were generally low, thereby minimizing the problem of multi-co linearity. A high level of multi-co linearity can result in unstable regression coefficients in linear regression models.Results of the tests of the Hypothesis:To test the hypothesis, hierarchical regression analysis was used. Corporate entrepreneurship was tested against a set of control variables, and then the respective dimensions of strategic management were added into the equation. Then it was tested whether the incremental change in R2 resulting from the addition of the strategic management variable was statistically significant.The control variables are as follows: Environmental turbulence Environmental complexity Firm size Debt level Current ratioEnvironmental turbulence and complexity are found to have a positive correlation with the corporate entrepreneurship in previous studies. Firm size, debt level and current ratio are demographic and financial measures that have been found to influence elements of entrepreneurial behavior. In this study, firm size and debt level were expected to have a negative correlation with corporate entrepreneurship, whereas, current ratio was expected to have a positive correlation with corporate entrepreneurship.In the hierarchical regression analysis, a two step approach was used. In the first step, corporate entrepreneurship was regressed against the control variable. In the second step, corporate entrepreneurship intensity was regressed against the control variable and dimension of strategic management associated with the hypothesis. The F-Test that constituted the test of the hypothesis was based on the statistical significance of the change in R2 between the restricted model (control variables only) and the full model (control variables plus the dimension of strategic management associated with the hypothesis).Results and Conclusions:There are a total of 6 hypotheses that have been tested in this study. Their correlation with corporate entrepreneurship intensity has been studied in this research. Scanning intensity is found to have a positive correlation with corporate entrepreneurship. Scanning intensity is related to opportunity recognition and also recognizing threats. The study depicts a positive correlation between planning flexibility and corporate entrepreneurship intensity. Planning flexibility refers to the extent to which, the firm can make alterations in its plans with ease in accordance to changing environmental conditions. This flexibility is relatively more important for manufacturing firms then the service providing firms, because firms have to keep their manufacturing systems, processes and machineries up-to-date with the latest technology. The positive correlation between locus of planning and corporate entrepreneurship intensity indicates that a high level of employee involvement in planning facilities firm-level entrepreneurial behavior. Strategic controls also have positive correlation with corporate entrepreneurship intensity.Two dimension of strategic management were found to have no significant correlation with corporate entrepreneurship intensity, these variables are: financial controls and planning horizon. Overall, this study not only focuses on normative implications but also focuses on the development of the psychometric scales used to measure the dimensions of strategic management included in this study. Strategic management is a multidimensional factor. This study has confined it to five dimensions only. This is a limitation of this study. Other dimensions of strategic management also affect the entrepreneurial activities of a firm. The extent to which the tested dimensions affect the manufacturing and service firms differs. This difference is not measured in this study, which is another limitation of this study. The theme of the conclusion of this study is that a firms strategic management practices affect its entrepreneurial intensity, and upcoming entrepreneurial ventures should keep a keen eye on their strategic management practices in order to be successful.