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The Strategic Orientation of Companies as a Success Factor of Product Innovation

Author

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  • Krasimir Marinov

Abstract

A multitude of studies in recent years sug­gests that the strategic orientation of companies is closely related to the performance of their products. The goal of the article is to present conceptual foundations for researching strategic orientation as a success factor of firms’ prod­uct innovation. The present study systematizes opinions on the strategic orientation of com­panies on a conceptual and terminology level. Considered to be the overall strategic direction of companies, the construct of strategic ori­entation has its basics in the ways companies react to different events in their environments. Approaches for typologization of the strategic orientation are presented, with the emphasis placed on the Miles and Snow framework. Find­ings of previous studies on the strategic orienta­tion’s effect on the performance of new prod­ucts are summarized. The value of the article involves formulating research hypotheses and arguing an approach for empirical research of companies’ strategic orientation.

Suggested Citation

  • Krasimir Marinov, 2019. "The Strategic Orientation of Companies as a Success Factor of Product Innovation," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 39-48, September.
    • Handle: RePEc:nwe:iisabg:y:2019:i:3:p:39-48
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    More about this item

    Keywords

    strategic orientation of companies; Miles and Snow typology; product innovations; success factors of new products;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M39 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Other

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