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Market Driven Entrepreneurship: The Convergence of Market Orientation and the Resource Based View

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

    The dramatically changing marketing structure for agricultural products is forcing agricultural producers to become more entrepreneurial, but what does this mean? How do agricultural producers produce sustainable competitive advantage within a commodity market characterised by homogeneous producers? The convergence of two academic literatures - Market orientation from market strategy and Resource Based View from strategic management – provide a number of insights. In this paper we lay the foundation for research into the market orientation–performance link in terms of production agriculture. Building on the previous market orientation literature, we examine its ability to create a sustainable competitive advantage using a resource based view (RBV). Focusing primarily on the U.S. beef industry, we examine these two distinct literatures in tandem and show that the concept of a market orientation meets all the necessary conditions laid out in the RBV literature to create a sustainable competitive advantage, even in a commodity marketplace such as agriculture. This convergence between these two literatures has important implications and direction for future research as we attempt to analyze and evaluate the heterogeneous responses of firm the new global agri-food business environment.

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    Bibliographic Info

    Paper provided by European Association of Agricultural Economists in its series 2008 International Congress, August 26-29, 2008, Ghent, Belgium with number 44276.

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    Date of creation: 2008
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    Handle: RePEc:ags:eaae08:44276

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    Related research

    Keywords: Market Orientation; Resource Based View; Production Agriculture; Marketing;

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    1. Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-61, October.
    2. Pelham, Alfred M., 1999. "Influence of Environment, Strategy, and Market Orientation on Performance in Small Manufacturing Firms," Journal of Business Research, Elsevier, vol. 45(1), pages 33-46, May.
    3. Ingemar Dierickx & Karel Cool, 1989. "Asset Stock Accumulation and Sustainability of Competitive Advantage," Management Science, INFORMS, vol. 35(12), pages 1504-1511, December.
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