Managing in an economic crisis: The role of market orientation in an international law firm

This research paper contributes to the understanding of the relationship between market orientation and performance in the context of a law firm during a time of economic crisis. The contribution is twofold, adding to the fairly limited research on market orientation within law firms, and to the limited research on the role of market orientation in times of economic crisis. The findings, from the questionnaire survey and semi-structured interviews within practice groups of a large multinational law firm, conclude that market orientation is important during an economic crisis. Those practice groups with higher market orientation scores withstand the increased turbulence and outperform those practice groups with lower market orientation scores

The implementation of a market orientation. Designing frameworks for managerial action

Many managers aspire to improve the degree of market orientation of their organization. In concordance with popular belief, there is scientific evidence to support the proposition that higher degrees of market orientation are associated with higher returns on investment. In this book, the author deals with the questions of what a market orientation exactly is, and how a market orientation could be implemented in an organization.Based on a longitudinal involvement in two organizations that were making attempts to implement a market orientation, the author designs a set of frameworks that can guide managerial action for the implementation of such an orientation. Taken together, these frameworks define a market orientation as a process management capability, they explain how market oriented processes relate to performance, and they specify the steps managers can take to implement market oriented processes in their organization

Relationship between Market Orientation,Firm Innovativeness and Innovative Performance

The paper examines the issue of interrelationships between market orientation, firm innovativeness and innovative performance. Three dimensions of market orientation, namely collection and use of market information, development of market oriented strategy and implementation of market oriented strategy are measured. Factor analysis used to validate the measures of market orientation, firm innovativeness and innovative performance . A correlational analysis is performed to determined whether market orientation is associated with firm innovativeness and innovative performanc

Commercialization of Smallholders: Is Market Participation Enough?

The literature on commercial transformation of smallholders makes little distinction between market orientation (production decision based on market signals) and market participation (sale of output). However, policy implications to enhance commercial transformation of subsistence agriculture drawn from the analysis of the determinants of household market participation alone could be inadequate, if in fact, the determinants of market orientation and market participation are not the same or not consistent with each other. This paper analyzes the determinants of market orientation and market participation in Ethiopia separately and examines if market orientation translates into market participation. Empirical results show that the determinants of market orientation and market participation in crop output markets are not the same, but market orientation translates strongly into market participation. Results imply that while interventions to enhance market orientation could also help in promoting market participation, interventions to promote market participation may not be adequate to promote market orientation.commercialization, smallholders, market orientation, market participation, Marketing, C21, C24, Q12, Q13,

Exploring the link between market orientation and innovation in the European and US insurance markets

Despite the increasing research importance of market orientation concept in the marketing literature, few comparative studies between Europe and U.S. have been conducted. Consequently, this void limits the understanding of marketing orientation strategy in global markets. The empirical study reported in this article investigates (a) the influence of competitive environments on the understanding and uses of market orientation in insurance flrms in Europe and U.S. and (b) the effects of market orientation on firms innovativeness. The results not only provide empirical support of the concept of market orientation as defmed in the literature, but also expands it

Measuring market orientation in several populations : a structural equations model.

Most researchers have studied economic performance linked to market orientation, while a lesser interest has been shown in validating this construct’s measure. We present a study of market orientation designed to obtain a valid measure of the market orientation construct. After presenting a theoretical model of market orientation, it is applied to investigate the usefulness of this construct in insurance companies of two European countries. Key features of the research methodology include several rounds of pretesting, multiple informant assessment, and a covariance structure procedure to show the structural validity of a measure of market orientation. The results show that the measure proposed is represented by a factorial structure that can be interpreted as an overall market orientation factor in both populations and a country-specific additional factor.Belgium; Insurance companies; Market orientation; Marketing; Spain; Strategy;

Antecedents and consequences of market orientation in universities: Literature review and conceptual framework

Recent developments in marketing theory have resulted in the conceptualisation of the market orientation construct in different cultural and industrial settings. However, there is little research investigating the applicability of market orientation in the higher education context. Building on the existing literature on market orientation and higher education marketing, the authors propose a theoretical framework of market orientation from a higher education management perspective. The framework analysis leads to propositions relating to the antecedents and consequences of market oriented universities. On the basis of the formulated propositions, the authors conclude with a discussion of the implications both for academia and practice and further research

Exploring the link between market orientation and innovation in the European and US insurance markets.

Despite the increasing research importance of market orientation in the marketing literature, few comparative studies between the European Union and the USA have been conducted. This limits the understanding of marketing orientation strategy in global markets. Investigates the influence of competitive environments on the uses of market orientation in insurance firms in the EU and the USA and the effects of market orientation on innovations. Using Lambin's conceptualization of market orientation, our results indicate that, although EU and US insurance firms analyze and react to their environment differently, which in turn is reflected in a differential impact on their degree of innovation, this, however, does not translate into overall market orientation differences across markets, differential relations across markets between overall market orientation and innovation degree and innovation performance. Furthermore, there is a positive impact of overall market orientation on insurance firms' innovation degree and innovation performance in both the US and EU markets. The managerial implications of these findings seem clear: the magnitude and the effectiveness of the innovation activities of a firm can be enhanced through the adoption of market orientation principlesMarket orientation; Innovation; Global marketing; Insurance companies;

The Mediating Effect of NPD-Activities and NPD-Performance on the Relationship between Market Orientation and Organizational Performance

Empirical research has demonstrated that a market orientation has in general a positive effect on organizational performance. The potential benefits of a market orientation have, however, not been realized because academics and practitioners do not yet understand the modus operandi that transform market orientation into superior organizational performance. Recent research has demonstrated that the proficiency in new product development (NPD) activities might be the key in the conversion of market orientation into superior NPD-performance, and hence, organizational performance. This study is designed to test a set of hypotheses related to the interrelationships among market orientation, the proficiency in NPD-activities, NPD-performance, and organizational performance. The results from a sample of 126 manufacturing firms in the Netherlands present evidence for the mediating role of the proficiency in several NPD-activities and NPD-performance in the relationship between market orientation and organizational performance. The fact that this mediating role has been found thus provides a better understanding of how market-oriented behaviors are transformed into superior value for customers.performance evaluation;innovation;statistical analysis;market orientation;studies

Market Orientation and Degree of Novelty

This study aims to examine the relationship between a responsive and a proactive market orientation and the degree of novelty. Data obtained via an Internet survey were analysed using structural equation modelling. An analysis of 325 Slovenian firms reveals that only a proactive market orientation is positively related to the degree of novelty. While there is no evidence of statistically significant differences in the examined relationships given the firm size and environmental characteristics, separate analyses in each group indicate that a proactive market orientation may be more important for small firms and firms operating amidst a higher level of technological turbulence. This study suggests that a distinction between a responsive and a proactive market orientation is important for a better understanding of the effect of a market orientation on the degree of novelty.responsive and proactive market orientation, incremental and radical innovation