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Market Orientation, Innovation and Entrepreneurship: An Empirical Examination of the Illinois Beef Industry

Author

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  • Micheels, Eric T.
  • Gow, Hamish R.

Abstract

This paper explores the importance of a producer’s market orientation on their subjective performance within agricultural commodity markets. Using a structural equation model of beef producers, our findings suggest that market oriented firms are highly innovative and achieve superior performance. These findings are consistent with previous research on the market orientation-performance relationship in heterogeneous product markets. The cost focus of a firm was also found to have a significant influence on innovation, but no direct effect on performance. This suggests that beef producers should follow a balanced approach utilizing both an external market and an internal productivity focus to achieve superior returns as opposed to solely focusing on internal productivity as many producers currently do.

Suggested Citation

  • Micheels, Eric T. & Gow, Hamish R., 2008. "Market Orientation, Innovation and Entrepreneurship: An Empirical Examination of the Illinois Beef Industry," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 11(3), pages 1-26, September.
    • Handle: RePEc:ags:ifaamr:53649
    DOI: 10.22004/ag.econ.53649
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    Cited by:

    1. Dentoni, Domenico & English, Francis & Schwarz, Daniela, 2014. "The Impact of Public R&D on Marketing and Supply Chains on Small Farms’ Market Sensing Capability: Evidence from the Australian Seafood Industry," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 17(1), pages 1-22, February.
    2. Chao-Chien Chen & Hsiu-Ping Yueh & Chaoyun Liang, 2016. "Strategic Management of Agribusiness: Determinants and Trends," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 12(4), pages 69-97.
    3. Anup Raj & Andrei Kuznetsov & Thankom Gopinath Arun, 2020. "Culture of Sustainability and Marketing Orientation of Indian Agribusiness in implementing CSR Programs—Insights from Emerging Market," JRFM, MDPI, vol. 13(11), pages 1-19, November.
    4. Ngore, Patrick Muthee, 2010. "Evaluation of Factors Influencing Value Addition by Butchery Agribusinesses in Igembe North District, Kenya," Research Theses 134498, Collaborative Masters Program in Agricultural and Applied Economics.
    5. Kuldeep Singh & Madhvendra Misra, 2021. "Developing an agricultural entrepreneur inclination model for sustainable agriculture by integrating expert mining and ISM–MICMAC," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(4), pages 5122-5150, April.

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