Triangulating the relationship between market orientation, entrepreneurial orientation and firm performance
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AbstractThe principal hypothetical premise advanced by this research programme is that the degree to which an organization exhibits a strong market orientation (MO) significantly and positively influences that organization's holistic performance in the marketplace. Moreover, the said hypothesized relationship will be positively moderated by the degree to which the same organization demonstrates a strong underlying entrepreneurial nature, as gauged by the construct known as the entrepreneurial orientation (EO) of the organization. It was a priori hypothesized that a significant complementary interrelationship would be evidenced between the market orientation (MO) and entrepreneurial orientation (EO) of the organization, the orientations interacting in such a manner as to cooperatively demonstrate a significant positive influence on firm performance. Therefore, it was anticipated that the effect would be significant not only in terms of the independent influence of the MO and EO variables on organizational performance, but also in regard to a specialized interaction term variable established to assess the said interaction effect. It was felt that the demonstration of significant empirical research results, related to the underlying research propositions constituting the foundations of the research programme, would represent significant contributions to the domains of marketing and entrepreneurship theory. Moreover, it was felt that the same findings would significantly enhance the legitimacy of the emerging domain associated with the conceptual and empirical investigation of the marketing/ entrepreneurship interrelationship. Empirical investigation of the various research hypotheses resulted in highly significant statistical support for the a priori hypothesized 'triangulated' relationship between MO, EO, and firm performance, in addition to strong pragmatic organizational and managerial implications related to the adoption and inter-organizational promotion of both orientations. Furthermore, both MO and EO were found to be highly significant positive predictors of an organization's premium pricing propensity.
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