This research addresses four question: (1) why are some new ventures more market and technology-innovation oriented than others? (2) what effect does market orientation and technology-innovation orientation have on new venture performance? (3) what re...
This research addresses four question: (1) why are some new ventures more market and technology-innovation oriented than others? (2) what effect does market orientation and technology-innovation orientation have on new venture performance? (3) what relation does market orientation and technology-innovation orientation have? (4) Does the between market orientation and technology-innovation orientation and new venture performance depend on the context?
To accomplish this purpose, we collected data using a mailing method with a representative sample of 560 new ventures in Korea. And thirty four hypotheses were proposed and tested by structural equation model.
The findings follows; First, there are significant influence of entrepreneur orientation, organization organism, environment dynamics, and environment hostility on market orientation and technology-innovation orientation of new ventures.
Second, there are significant influence of a market orientation and technology-innovation orientation on new venture performance, namely, subjective performance.
Third, there are significant reciprocal influence of market orientation and technology-innovation orientation. Market orientation have positive influence on technology-innovation orientation. But technology-innovation orientation have negative influence on market orientation.
Finally, there are not significant differences of the degree of a market orientation and technology-innovation orientation by new venture life cycle, strategy type, industry type. Also, there are not significant differences of the moderate effect.
The result suggested that there are a positive relationship between new venture performance and market orientation and technology-innovation orientation regardless of life cycle stage and other moderate effect.
The limitation of this study is a bias due to methodological problems that cross-sectional studies have. Therefore future studies may adopt a longitudinal approach and consider of other factors.