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Market responsiveness, top management risk taking, and the role of strategic learning as determinants of market pioneering

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  • Garrett, Robert P.
  • Covin, Jeffrey G.
  • Slevin, Dennis P.

Abstract

This study investigates managerial and organizational factors associated with engaging in a market pioneering strategy. Specifically, top management risk taking and the firm-level capability of market responsiveness are hypothesized to be associated with market pioneering. Additionally, strategic learning self efficacy is hypothesized to moderate the effects of top management risk taking and market responsiveness on market pioneering. Moderated regression analysis based on data collected from 111 manufacturing firms supports the hypotheses. Top management risk taking and market responsiveness positively predict the use of a pioneering strategy. Strategic learning self efficacy makes market pioneering more palatable to risk-averse top managers who might not otherwise engage in pioneering. Finally, strategic learning self efficacy strengthens the relationship between market responsiveness and market pioneering. Implications for future theory, practice, and research are discussed.

Suggested Citation

  • Garrett, Robert P. & Covin, Jeffrey G. & Slevin, Dennis P., 2009. "Market responsiveness, top management risk taking, and the role of strategic learning as determinants of market pioneering," Journal of Business Research, Elsevier, vol. 62(8), pages 782-788, August.
  • Handle: RePEc:eee:jbrese:v:62:y:2009:i:8:p:782-788
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    References listed on IDEAS

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    1. Covin, Jeffrey G. & Slevin, Dennis P. & Heeley, Michael B., 2000. "Pioneers and followers: Competitive tactics, environment, and firm growth," Journal of Business Venturing, Elsevier, vol. 15(2), pages 175-210, March.
    2. Gurumurthy Kalyanaram & William T. Robinson & Glen L. Urban, 1995. "Order of Market Entry: Established Empirical Generalizations, Emerging Empirical Generalizations, and Future Research," Marketing Science, INFORMS, vol. 14(3_supplem), pages 212-221.
    3. Dean A. Shepherd, 1999. "Venture Capitalists' Assessment of New Venture Survival," Management Science, INFORMS, vol. 45(5), pages 621-632, May.
    4. Janney, Jay J. & Dess, Gregory G., 2006. "The risk concept for entrepreneurs reconsidered: New challenges to the conventional wisdom," Journal of Business Venturing, Elsevier, vol. 21(3), pages 385-400, May.
    5. Lumpkin, G. T. & Dess, Gregory G., 2001. "Linking two dimensions of entrepreneurial orientation to firm performance: The moderating role of environment and industry life cycle," Journal of Business Venturing, Elsevier, vol. 16(5), pages 429-451, September.
    6. Simon, Mark & Houghton, Susan M. & Aquino, Karl, 2000. "Cognitive biases, risk perception, and venture formation: How individuals decide to start companies," Journal of Business Venturing, Elsevier, vol. 15(2), pages 113-134, March.
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    Cited by:

    1. Tarek Ibrahim Eldomiaty & Mohamed Hashem Rashwan & Mohamed Bahaa El Din & Waleed Tayel, 2016. "Firm, industry and economic determinants of working capital at risk," International Journal of Financial Engineering (IJFE), World Scientific Publishing Co. Pte. Ltd., vol. 3(04), pages 1-29, December.
    2. Nikolaos Theriou & Vassilis Aggelidis, 2014. "Management Accounting Systems, Top Management Team’s Risk Characteristics and Their Effect on Strategic Change," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 3-38.
    3. Ding, Shujun & Jia, Chunxin & Qu, Baozhi & Wu, Zhenyu, 2015. "Corporate risk-taking: Exploring the effects of government affiliation and executives' incentives," Journal of Business Research, Elsevier, vol. 68(6), pages 1196-1204.
    4. repec:kap:sbusec:v:49:y:2017:i:1:d:10.1007_s11187-017-9870-x is not listed on IDEAS
    5. Hammady Ahmed DINE RABEH, 2013. "Firm Resources’ Entanglement Determines ITS Absorptive Capacity: A Review Towards A New Reconceptualization," Working Papers 270, Laboratoire de Recherche sur l'Industrie et l'Innovation. ULCO / Research Unit on Industry and Innovation.
    6. repec:eee:ijrema:v:28:y:2011:i:2:p:145-154 is not listed on IDEAS
    7. White, George O. & Hemphill, Thomas A. & Joplin, Janice R.W. & Marsh, Laurence A., 2014. "Wholly owned foreign subsidiary relation-based strategies in volatile environments," International Business Review, Elsevier, vol. 23(1), pages 303-312.
    8. Klein, Klemens & Albers, Sascha & Allroggen, Florian & Malina, Robert, 2015. "Serving vs. settling: What drives the establishment of low-cost carriers’ foreign bases?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 79(C), pages 17-30.
    9. repec:eee:jbrese:v:76:y:2017:i:c:p:127-135 is not listed on IDEAS
    10. Lee, Hun & Shin, Hyung-Deok, 2010. "Which subfield to enter first?: The role of a firm's pre-entry experiences," Journal of Business Research, Elsevier, vol. 63(12), pages 1310-1316, December.

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