中国新技术企业在产品开发绩效营销策略创新的权变价值英文中文对照翻译.docx
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中国新技术企业在产品开发绩效营销策略创新的权变价值英文中文对照翻译.docx
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中国新技术企业在产品开发绩效营销策略创新的权变价值英文中文对照翻译
Thecontingentvalueofmarketingstrategyinnovativenessforproduct
developmentperformanceinChinesenewtechnologyventures
Abstract
Thisstudyextendsresearchonentrepreneurialbehaviorbyinvestigatingtherelationshipbetweenthemarketingstrategyinnovativeness(MSI)andnewproductperformanceintechnology-basednewventuresinChina.Specifically,premisedoncontingentresource-basedviewwearguethatMSIisafirmcapabilitythatmustbebundledwithexternalmanagerialrelationshipsandbedeployedintheappropriateenvironmenttoensureitssuccess.Wefoundthattheteam'sextraindustryrelationshipsandmarketdynamismenhancedtheimpactofMSIonnewproductperformance.Incontrast,topmanagementteam'sintraindustryrelationships,financialrelationships,andtechnologydynamismhinderedtheimpactofMSIonnewproductperformance.
1.Introduction
Thevastmajorityofresearchonorganizationalinnovationadoptsaresource-basedperspectivethatpredictspositivereturnstoorganizationalresourcesandcapabilities.Thisworkhasbeenrestricted,however,tothenarrowcontextofproductinnovation.Althoughproductinnovationenhancesfirmperformanceonlywhenitissuccessfullycommercialized,priorresearchtendstopaylittleattentiontoaccompanyingmarketinginnovations(Shervani&Zerrillo,1997).Thecurrentstudyconcernsaneglected,yetpotentiallypositiveentrepreneurialstrategicactivity—marketingstrategyinnovativeness(MSI)—whichreferstothedegreetowhichthemarketingstrategywhichaccompaniesanewproductdiffersfromcompetingstrategiesandconventionalpractices(Andrews&Smith,1996;Hambrick,Cho,&Chen,1996;Menon,Bharadwaj,Adidam,&Edisonet,1999;Sethietal.,2001).ExamplesofMSIpracticesincludetheuseofnewpackaging,newdistributionmethodsandchannels,newadvertisingmediaandcontent,ingeniouspricingandpaymentmethods.MSIensuresthenewproductenjoysauniquecompetitivepositionbecauseitisradical,departsfromthestatusquo,isproactive,unconventionalandunpredictable(Andrews&Smith1996;Hambricketal.,1996;Menonetal.,1999).Thus,MSIislikelytostrengthenthepositionofthenewproductinthemarketplaceaboveandbeyondthevalueconveyedbyitsphysicalcharacteristics(Andrews&Smith,1996).
MSIisclassedascapabilitybecauseitistheoutcomeofafirm'sspecializedknowledge,uniqueunderstandingoftheenvironmentandidiosyncraticprocesses(Eisenhardt&Martin,2000).AsVerona(1999:
139)posits,theabilitytocreativelyandimaginativelymakestrategicdecisionsregardingaproduct'sdevelopmentanditsmarketingarerent-generatingroutinesthatenhanceperformance.MSImayenhanceproductdevelopmentperformancebycreatinguncertaintiesforcompetitorsthroughvariationinthebasesofcompetition(Eisenhardt&Tabrizi,1995).CapturingthecontributionofMSIattheproductdevelop-mentlevelisalsoconsistentwiththeideathatresources'contributiontoperformanceshouldbeinvestigatedbydisaggregatingfirmperformanceintoprocesseswhicharelessdistalfromthefocalresources(Ray,Barney,&Muhanna,2004).
However,EisenhardtandMartin(2000:
1110)suggestthatdespitetheirvalue,capabilitiesaresubstitutablebecausetherearemultiplepathsthroughwhichfirmscanacquirethesamedynamiccapabilitiesindependentofotherfirms.Hence,capabilitiesmaybenecessary,butnotsufficient,sourcesofsustainedcompetitiveadvantage.Thisimpliesthatafocalcapabilityneedstobemadeinimitablethroughcombinationwithotherorganizationalskillsandcapabilitiesanddeploymentintheappropriateenvironment(Eisenhardt&Martin,2000).AsBarney(1991)argues,eventhoughafirm'scapabilitymaybevaluable,rareandinimitable,itsabilitytoprovidesustainablecompetitiveadvantageoftenliesinitsconfigurationwithcomplementaryinternalandexternalresources.Teece,Pisano,andShuen(1997:
515)alsoarguethatperformanceoutcomesofafirm'scapabilitydependonitsma-nagementabilitytodeploythecapabilityinanappropriateenvironment.Finally,Porter(1991:
108)warnsagainstinternalfocusonresourcesbecausethecompetitivevalueofresourcescanbeenhancedoreliminatedbychangesintechnology,competitorbehaviororbuyerneeds.
Drawingonthiscontingentresource-basedviewofthefirm,weadvanceandtesttheideathat,particularlyinnewventuresinanemergingeconomicenvironment,theimpactofMSIonnewproductperformanceisconditionaluponitstopmanagementteam'sexternalrelationshipsandenvironmentalconditions.Newventurestendtohavehigherfailureratesthanestablishedfirms.Stinchcombe(1965)providedseveralreasonsforthisliabilityofnewness.Theyhavelimitedresources,lackofinfor-mationprocessingstructures,andstablelinkswithclients,supportersandcustomers.Giventheirliabilitiesofnewness,newventuresneedtobecreativeandlearnnewrolesandtasksandthismayconflictwithconstraintsontheirresources.Moreover,asaformoffirst-moving,MSIisinherentlyrisky(Ketchen,Snow,&Hoover,2004).First,ittakestimeandresources(i.e.,increasedsalesforceefforts)toeducatecustomerstothenewmarketingstrategyfeatures;further,MSIcanexposenewventurestostrongandunpredictedreactionsbyincumbents;lastly,MSIcanbeimitatedbycompetitors,whocancapitalizeontheearlyerrorsmadebythenewventure.Thesecontrastingargumentsreinforcetheneedtounderstandunderwhichcircumstances(i.e.,onwhichinternalandexternalcontingencies)MSIwillcontributetonewproductperformance.
Incontrasttodevelopedmarketeconomies,thecomplexityanddynamismofthetransitionalenvironmentinChinameansthatfirmsmustconfrontthechallengesofnew(oftendysfunctional)competitionandalsocollapsingcapabilities(Li&Atuahene-Gima,2001,2002).Thus,scholarssuggestthatsuccessinChinamarketrequiressignificantexplorationinvolvingexperimentationandinnovation(Luo,2002;Luo&Park,2001,p.145).WecontendthattosustaintheviabilityoftheirinnovativemarketingstrategiesinChina,newventuremanagersmayneedtoleveragetheirexternalrelationships.ResearchsuggeststhatexternalrelationshipsareparticularlyimportantsourcesofvaluableresourcesandinformationthatcanaugmentfirmperformanceintransitionaleconomieslikeChina(Park&Luo,2001;Peng&Luo,2000).Becauseoftheirliabilitiesofnewness,wepositthataventure'stopmanagementteam'sexternalsocialcapital(i.e.,theabilitytomobilizefinancialresources,informationandsupportthroughexternalrelationshipswithmanagersinsideandoutsidetheindustry,andwithofficialsofgovernmentandfinancialinstitutions)maydeterminethedegreeofsuccessofMSI.Insupportofthisidea,Lee,Lee,andPennings(2001)foundthatexternalrelationshipswithventurecapitalistsanduniversitiesenhancedtheperfor-manceeffectsoftheentrepreneurialorientationandtechnologycapabilitiesofnewventures,respectively.Further,consideringthatthevalueofafirm'scapabilitiesandresourcesiscontextspecific(Eisenhradt&Martin,2000;Porter,1991;Teeceetal.,1997),weproposethattechnologyandmarketuncertaintywillplayanimportantroleintheeffectivenessofMSI.
Thisstudycontributestotheliteratureinthreeimportantareas.FirstitcontributestotheabovementioneddebateontheinherentvalueofMSIanditsrelationshipwithperformance.Forexample,priorresearchhasassumedapositiverelationshipbetweenMSIandnewproductperformance(Andrews&Smith,1996).However,suchanassumptiontendstoignorethetransactioncostsassociatedwithMSIand,moregenerally,overlooksthepotentialproblemsassociatedwiththedeviationfromindustrypractices.Hence,determiningwhenMSIwillincreasenewproductperformanceoffersadirecttestofthecontingencyviewofinternalfirmcapabilitiesespousedinresource-basedtheory(Barney,1991;Teeceetal.,1997).Second,despiterecenttheoreticaldevelopments(Blyler&Coff,2003),fewempiricalstudiesmodelthefirm'ssocialcapitalasapotentialcomplementofinternalcapabilities;thisstudyextendsourunderstandingbyforthefirsttimeexaminingmanagerialrelationshipsbothinsideandoutsidetheindustry,ascalledforbyPengandLuo(2000).Finally,thisstudyextendsandlendssupporttorecentworkthatintegratesresource-basedandsocialcapitaltheoriesasanexplanationfornewventureperformanceintheChinesecontext(Leeetal.,2001).
2.Conceptualmodelandhypotheses
2.1.Resource-basedtheoryandMSIintechnology-basednewventuresinChina
Accordingtotheresource-basedtheory,performancediffer-encesacrossfirmsaretheresultofvarianceintheirresourcesandcapabilitiesthatarerare,valuableandinimitable(Barney,1991).Thistheoryimpliesthattooutwitcompetitors,newventuresneedtodevelopdistinctandinnovativestrategiesandprocesses.Ensley,Pearson,andAmasone(2002:
367)contendthat,becauseoftheirliabilityofnewness,“thetaskofthenewventureTMT[topmanagementteam]islargelyoneofcreativityandlearning,wheretheabilitytoproducenovelandintegratedsolutionsisanimportantattribute”forhighperformance.Newventuresareatacompetitivedisadvantageagainstlargeandestablishedfirmsintheirtraditionaldomainsbecauseoflackofresources,immatureorganizationalprocessesandlimitedoperationalexperience(Leeetal.,2001:
617).Hence,relianceontraditionalproducts,marketingmethods,andorganizationalprocessesisboundtoleadtofailure.Thesurvivalofnewventuresdependslargelyontheintro-ductionofnewanddifferentiatedproducts,processesandmarketinginno
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