By Jesko-Philipp Neuenburg
Marketplace orientation has been validated as a resource of corporation luck over the last two decades. Jesko-Phillipp Neuenburg researches the market-driving habit - i.e. the habit of an organization that's directed to essentially switch the constitution of the industry and/or habit of marketplace stakeholders - in rising organizations on a theoretical in addition to an empirical point. A research of 224 rising know-how companies in Germany is gifted and the consequences point out that market-driving habit has a good impact on company luck.
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Additional resources for Market-Driving Behavior in Emerging Firms
They have to act in novel and innovative ways that do not adhere to conventional wisdom about doing things. 48 In summary they face a much higher level of risk and uncertainty than do their established counterparts. In the literature this is labeled as the “liability of uncertainty”. But emerging firms also have certain beneficial features. Due to less established organizational structures they possess a higher level of flexibility. 49 43 44 45 46 47 48 49 See Stinchcombe (1965), p. 148; Aldrich and Auster (1986).
109 In that respect their concept of environmental management already comes close to the current understanding of market-driving behavior. Hamel & Prahalad (1994) elaborate the concept of industry foresight which deals with anticipating market developments and proactively shaping them. ”110 Their concept thus implicitly includes at least two of the three elements of market orientation: intelligence generation in order to gain those deep insights and responsiveness in the form of proactively shaping the market and influencing its players.
E. expand in order to benefit from economies of scale or reduce scale in order to better serve certain niches. e. remove intermediaries. e. 120 116 117 118 119 120 See Jaworski and Kohli (1996), p. 127. See Hamel (1996). See Hamel (1996), p. 72. 72f. 73. 25 By his categorization Hamel introduces the notion of market-driving behavior being a multi-level concept working on the product, market and industry levels. However, it is obvious that his product level strategies eventually have an impact on customer behavior, competitor reactions and thus on the market structure as a whole.