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Market Orientation, Growth Strategy, and Firm Performance: The Moderating Effects of External Connections

  • Igor Filatotchev (a1) (a2), Zhongfeng Su (a3) and Garry D. Bruton (a4) (a5)
Abstract
ABSTRACT

This study examines the mediating effect of growth strategy (including market and product expansion strategies) on the linkage of market orientation (MO) to firm performance and the moderating effects of a firm's external connections (including political and business ties) on the relationship between MO and growth strategy. It finds that both market and product expansion strategies are key conduits through which MO improves firm performance. In addition, the relationship between MO and market expansion strategy is positively moderated by political ties but negatively moderated by business ties, while the linkage of MO to product expansion strategy is moderated negatively by political ties but positively by business ties. By combining mediating and moderating effects in a framework that integrates MO, growth strategy, external connections, and firm performance, this study enriches our knowledge on the implications of MO and provides insight into factors that facilitate firm growth.

摘要:

本研究调查了增长策略 (包括市场和产品拓展策略) 对市场导向 (MO) 与公司绩效的关联的调解效应, 以及公司外部关系 (包括政治和商务关系) 对MO和增长策略之间关系的调节效应。它发现市场和产品扩张策略是MO提高企业绩效的关键管道。另外, MO与市场拓展策略之间的关系受政治关系的积极调节但受商务关系的消极调节, 而MO与产品拓展策略的关联却受政治关系的消极调节但受商务关系的积极调节。通过结合在整合MO、增长策略、外部关系和公司绩效的框架里的调解和调节效应, 本研究丰富了我们关于MO的启示的知识, 并提供了对有助于公司成长的因素的见解。

इस शोध में फर्म के बाज़ार अनुकूलन के फर्म प्रदर्शन से सम्बन्ध पर विकास रणनीति (बाज़ार एवं उत्पाद विस्तार) मध्यस्थता के प्रभाव और बाह्य संबंधों (रणनैतिक और कारोबारी बंधन) के नियंत्रक प्रभाव का अध्ययन किया गया है. इस अध्ययन में पाया गया की बाज़ार व उत्पाद विस्तार रणनीतियां वो महत्त्वपूर्ण कड़ी हैं जिससे बाज़ार अनुकूलन फर्म प्रदर्शन बेहतर करता है. साथ ही बाज़ार अनुकूलन व बाज़ार विकास रणनीति के सन्दर्भ में राजनैतिक सम्बन्ध सकारात्मक नियंत्रक हैं लेकिन कारोबारी सम्बन्ध नकारात्मक नियंत्रक हैं. वहीं बाजार अनुकूलन व उत्पाद विस्तार रणनीति के संबंधों पर राजनैतिक संबंधों का नकारात्मक नियंत्रक प्रभाव है और कारोबारी संबंधों का सकारात्मक नियंत्रक प्रभाव है. यह शोध बाज़ार अनुकूलन, विकास रणनीति, बाह्य सम्बन्ध व फर्म प्रदर्शन की समग्र संरचना पर मध्यस्थ व नियंत्रक प्रभावों को जोड़ते हुए हमारी बाज़ार अनुकूलन की समझ को संवर्धित करता है और फर्म के विकास के कारकों पर प्रकाश डालता है.

Sumário:

Este estudo examina o efeito mediador da estratégia de crescimento (incluindo as estratégias de expansão de mercado e de produto) sobre a conexão entre orientação de mercado (MO) e desempenho da empresa, e os efeitos moderadores das ligações externas da empresa (incluindo as conexões políticas e empresariais) na relação entre MO e estratégia de crescimento.

Ele descobre que ambas as estratégias de expansão de mercado e produto são condutores chave através dos quais MO melhora o desempenho da empresa. Além disso, a relação entre MO e a estratégia de expansão do mercado é positivamente moderada pelas conexões políticas, mas negativamente moderada pelos laços comerciais, enquanto a ligação entre MO e estratégia de expansão do produto é moderada negativamente pelas conexões políticas, mas positivamente por laços comerciais. Através da combinação de efeitos mediadores e moderadores em um modelo que integra MO, estratégia de crescimento, conexões externas e desempenho da empresa, este estudo enriquece nosso conhecimento sobre as implicações da MO e fornece uma visão sobre os fatores que facilitam o crescimento da empresa.

АННОТАЦИЯ:

Данная работа рассматривает опосредованное влияние стратегии роста (в том числе стратегий расширения рынка и товарного ассортимента) на взаимосвязь рыночной ориентации и производительности компании, а также непосредственное воздействие внешних связей компании (в том числе политических и деловых связей) на взаимоотношение между рыночной ориентацией и стратегией роста. Делается вывод о том, что стратегии расширения рынка и товарного ассортимента являются ключевыми каналами, через которые рыночная ориентация улучшает производительность компании. Кроме того, взаимосвязь между рыночной ориентацией и стратегией расширения рынка положительно соотносится с политическими связями, но отрицательно соотносится с деловыми связями; в то время как взаимосвязь между рыночной ориентацией и стратегией расширения товарного ассортимента отрицательно соотносится с политическими связями, но положительно с деловыми связями. Объединяя опосредованные и непосредственные факторы воздействия в рамках одной модели, которая включает в себя рыночную ориентацию, стратегию роста, внешние связи и производительность компании, это исследование обогащает наши знания о результатах рыночной ориентации и дает представление о факторах, которые способствуют росту компании.

RESUMEN:

Este estudio examina el efecto mediador de la estrategia de crecimiento (incluyendo las estrategias de expansión de mercado y de producto) en el vínculo entre la orientación al mercado (OM) con el desempeño empresarial y los efectos moderadores de las conexiones externas de una empresa (incluyendo los lazos políticos y de negocio) en la relación entre la orientación al mercado y la estrategia de crecimiento. Se encuentra que ambas estrategias de expansión de producto y de mercado son conductos clave mediante los cuales la orientación al mercado mejora el desempeño empresarial. Combinando los efectos mediadores y moderadores en un marco que integra la orientación al mercado, la estrategia de crecimiento, las conexiones externas, y el desempeño empresarial, este estudio enriquece nuestro conocimiento sobre las implicaciones de la orientación al mercado y da una nueva comprensión de los factores que facilitan el crecimiento de la empresa.

Copyright
Corresponding author
Corresponding author: Zhongfeng Su (zhongfengsu@163.com)
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