From Strategy to Maintenance: Evidence From Capital-Intensive Organizations

Industrial digitalization and the adoption of smart technologies have transformed asset management in capital-intensive sectors. Despite these advancements, little is known about how organizations translate their strategic orientation into tangible operational outcomes. This study examines how Entrepreneurial Orientation (EO) drives Operational Performance (OP) through Smart Maintenance (SM), considering Environmental Dynamism (ED) as a moderating factor. Drawing on the Dynamic Capabilities Theory (DCT) and the Contingency Theory (CT), a mediated and moderated model integrating strategic and operational domains is proposed. A cross-sectional quantitative approach using partial least squares structural equation modeling (PLS-SEM) was applied to a sample of 204 industrial firms in the manufacturing and mining sectors in Peru. The results showed that EO significantly influenced SM (β = 0.51; p < 0.001) and that SM improved OP (β = 0.35; p < 0.001), providing evidence of the partial mediation of SM between EO and OP. ED showed direct positive effects on both SM and OP, although its moderating influence on EO-related paths was not significant. The model achieved R² = 0.37 for OP and R² = 0.36 for SM, with satisfactory predictive validity (Q² > 0). These findings enhance the understanding of SM as a translation mechanism between strategy and performance, reinforcing the importance of aligning entrepreneurial capabilities, technology, and environmental dynamism to improve operational competitiveness in emerging economies.