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Market orientation, knowledge-related resources and firm performance

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  • Olavarrieta, Sergio
  • Friedmann, Roberto
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    Abstract

    Based upon new perspectives to explain superior business performance, an integrative conceptual model that links these different explanations of superior performance is presented, highlighting the role of knowledge-related resources as key antecedents of the continuous creation of competitive advantages (Day 1994, Day George S. The capabilities of market-driven organizations. J Mark 1994a, 58 [October]: 37-52., Day George S. Continuous learning about markets. Calif Manage Rev 1994b, 36 [Summer]: 9-31., Hunt and Morgan, 1995, Hunt Shelby D., Morgan Robert M. The comparative advantage theory of competition. J Mark 1995; 59 [April]: 1-15). An empirical test of this conceptual model is conducted with a Chilean sample of publicly traded firms, using structural equations modeling. The results show a significant impact of: market orientation, market sensing and innovativeness (among other knowledge-related resources) on superior performance, thus providing support for the original ideas of Drucker (1954) [Drucker Peter F. The practice of management. New York: Harper and Row Publishers, 1954.] and Schumpeter (1934), and for the dynamic evolutionary approaches to strategy (Dickson, 1992, Dickson Peter R. Toward a theory of competitive rationality. J Mark 1992; 56: 69-83., Dicskson, 1996, Dickson Peter R. The static and dynamic mechanics of competition: a comment on Hunt and Morgan's comparative advantage theory. J Mark 1996; 60: 102-106.; Hill and Deeds, 1996, Hill C.W., Deeds D.L. The importance of industry structure for the determination of firm profitability: a Neo-Austrian perspective. J Manag Stud 1996; 33: 429-451.).

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Research.

    Volume (Year): 61 (2008)
    Issue (Month): 6 (June)
    Pages: 623-630

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    Handle: RePEc:eee:jbrese:v:61:y:2008:i:6:p:623-630

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    Web page: http://www.elsevier.com/locate/jbusres

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    References

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    1. Atuahene-Gima, Kwaku, 1996. "Market orientation and innovation," Journal of Business Research, Elsevier, vol. 35(2), pages 93-103, February.
    2. Bianchi, Constanza, 2006. "Home Depot in Chile: Case study," Journal of Business Research, Elsevier, vol. 59(3), pages 391-393, March.
    3. Dosi, Giovanni & Nelson, Richard R, 1994. "An Introduction to Evolutionary Theories in Economics," Journal of Evolutionary Economics, Springer, vol. 4(3), pages 153-72, September.
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    Cited by:
    1. Raju, P.S. & Lonial, Subhash C. & Crum, Michael D., 2011. "Market orientation in the context of SMEs: A conceptual framework," Journal of Business Research, Elsevier, vol. 64(12), pages 1320-1326.
    2. Tan, Justin & Wang, Liang, 2010. "Flexibility-efficiency tradeoff and performance implications among Chinese SOEs," Journal of Business Research, Elsevier, vol. 63(4), pages 356-362, April.
    3. Cheng, Hsiang-Lin, 2010. "Seeking knowledge or gaining legitimacy? Role of social networks on new practice adoption by OEM suppliers," Journal of Business Research, Elsevier, vol. 63(8), pages 824-831, August.
    4. Santos, David Ferreira Lopes & Basso, Leonardo Fernando Cruz & Kimura, Herbert & Kayo, Eduardo Kazuo, 2014. "Innovation efforts and performances of Brazilian firms," Journal of Business Research, Elsevier, vol. 67(4), pages 527-535.
    5. 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 (IAMA), vol. 17(1).
    6. Seo, Joo Hwan & Perry, Vanessa G. & Tomczyk, David & Solomon, George T., 2014. "Who benefits most? The effects of managerial assistance on high- versus low-performing small businesses," Journal of Business Research, Elsevier, vol. 67(1), pages 2845-2852.
    7. Nuntasaree Sukato, 2014. "The Implementation of Market Orientation and Innovation in SMEs," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 4(5), pages 614-625, May.
    8. Rapp, Adam & Trainor, Kevin J. & Agnihotri, Raj, 2010. "Performance implications of customer-linking capabilities: Examining the complementary role of customer orientation and CRM technology," Journal of Business Research, Elsevier, vol. 63(11), pages 1229-1236, November.
    9. Jiménez-Jiménez, Daniel & Sanz-Valle, Raquel, 2011. "Innovation, organizational learning, and performance," Journal of Business Research, Elsevier, vol. 64(4), pages 408-417, April.
    10. Chen, Chien-Wei & Lien, Nai-Hwa, 2013. "Technological opportunism and firm performance: Moderating contexts," Journal of Business Research, Elsevier, vol. 66(11), pages 2218-2225.

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