How would you do this discussion in APA Format:

Concepts

$$ Entrepreneurial Orientation $($EO$)$ Entrepreneurial Orientation $($EO$)$ is a company's strategic orientation towards innovation, risk$-$taking, proactiveness, and autonomy. EO is a key driver of a firm's competitive advantage and long$-$term success.

$$ Innovativeness Innovativeness refers to a company's ability to generate and implement new ideas, products, and processes. Innovativeness is a critical component of EO and is closely linked to a firm's capacity for creativity, experimentation, and learning.

$$ Proactiveness Proactiveness is the tendency of a company to anticipate and act on future opportunities and threats. Proactiveness is a key aspect of EO and is closely related to a firm's ability to scan the environment, identify trends, and take action before competitors.

$$ Risk Taking Risk taking is the willingness of a company to take calculated risks in pursuit of its goals. Risk taking is a critical component of EO and is closely linked to a firm's ability to experiment, learn, and adapt to changing circumstances.

$$ Main Body

$$ Step $1$: Importance of Conducting an Internal Environmental Scan

$$ An internal environmental scan is a critical step in the development of an effective innovation strategy. By assessing the strengths, weaknesses, opportunities, and threats $($SWOT$)$ within the organization, a company can identify areas for improvement and develop strategies to capitalize on its unique capabilities.

$$ Step $2$: Entrepreneurial Orientation $($EO$)$

$$ EO is a key driver of a firm's competitive advantage and long$-$term success. By fostering a culture of innovation, risk$-$taking, proactiveness, and autonomy, a company can differentiate itself from competitors and create new opportunities for growth.

$$ Step $3$: Innovativeness

$$ Innovativeness is a critical component of EO and is closely linked to a firm's capacity for creativity, experimentation, and learning. By encouraging employees to generate and implement new ideas, a company can stay ahead of the curve and maintain its competitive edge.

$$ Step $4$: Proactiveness

$$ Proactiveness is the tendency of a company to anticipate and act on future opportunities and threats. Proactiveness is a key aspect of EO and is closely related to a firm's ability to scan the environment, identify trends, and take action before competitors. By being proactive, a company can stay ahead of the curve and capitalize on emerging opportunities.

$$ Step $5$: Risk Taking

$$ Risk taking is the willingness of a company to take calculated risks in pursuit of its goals. Risk taking is a critical component of EO and is closely linked to a firm's ability to experiment, learn, and adapt to changing circumstances. By taking risks, a company can explore new opportunities, challenge the status quo, and differentiate itself from competitors.

$$ Final Answer

$$ In conclusion, conducting an internal environmental scan is a critical step in the development of an effective innovation strategy. By assessing the company's EO$,$ innovativeness, proactiveness, and risk$-$taking, a company can identify areas for improvement and develop strategies to capitalize on its unique capabilities. By fostering a culture of innovation, risk$-$taking, proactiveness, and autonomy, a company can differentiate itself from competitors and create new opportunities for growth.