This study clarifies the association of entrepreneurial orientation with the diverse characteristics of a firm. Descriptive, cross sectional research design has been adopted in a survey of 457 key informants from Indian organizations. Second order CFA has been used for the measurement of the uni-dimensional entrepreneurial orientation construct. Chi square test of independence assesses the association of the degree of entrepreneurial orientation with diverse characteristics of a firm. The findings reveal that extent of entrepreneurial posture adopted by a firm is not associated with the age of firm and nature of the industry. However some degree of association of the degree of entrepreneurial orientation with the size of firm and type of organization has been supported by the study, but the strength of these associations is not very strong. The study has important implications for managers and entrepreneurs. entrepreneurial orientation is not strongly associated with the diverse characteristics of a firm, the policy makers of any kind of firm should not feel constrained while adopting entrepreneurial posture.