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Market orientation, knowledge-related resources and firm performance

  • Olavarrieta, Sergio
  • Friedmann, Roberto
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    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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    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
    Contact details of provider: Web page: http://www.elsevier.com/locate/jbusres

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    1. Bianchi, Constanza, 2006. "Home Depot in Chile: Case study," Journal of Business Research, Elsevier, vol. 59(3), pages 391-393, March.
    2. Atuahene-Gima, Kwaku, 1996. "Market orientation and innovation," Journal of Business Research, Elsevier, vol. 35(2), pages 93-103, February.
    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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