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Strategic imperatives for new product success: An internal stakeholder perspective
Journal of Innovation and Knowledge, Volume: 9, Issue: 1, Start page: 100467
Swansea University Author:
Paul Jones
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DOI (Published version): 10.1016/j.jik.2024.100467
Abstract
PurposeDue to a high failure rate of new products, there is an urgent need to probe the drivers of new product success, by probing internal and external factors. Thus, our study empirically examines the synergistic effects of market orientation and entrepreneurial orientation (external focus) on new...
| Published in: | Journal of Innovation and Knowledge |
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| ISSN: | 2444-569X |
| Published: |
Elsevier BV
2024
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| Online Access: |
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| URI: | https://cronfa.swan.ac.uk/Record/cronfa65695 |
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| Abstract: |
PurposeDue to a high failure rate of new products, there is an urgent need to probe the drivers of new product success, by probing internal and external factors. Thus, our study empirically examines the synergistic effects of market orientation and entrepreneurial orientation (external focus) on new product success and investigates the mediating and moderating role of employee job satisfaction and intention to stay (internal focus) on this relationship.Design/methodology/approachData were generated through questionnaire from a sample of 226 employees in the competition-and technology-intensive sector. Hierarchical multiple regression was used to test the study's hypotheses.FindingsThe results indicate significant and positive synergistic effects of market and entrepreneurial orientation on new product success and also confirm the partial mediation of employee job satisfaction. The interaction effects of market (and entrepreneurial) orientation with intention to stay are found to be significant but negative, revealing that even at a lower level of staying intention, the influence of market (and entrepreneurial) orientation on new product success is strong.Practical implicationsThe study offers novel insights for policy makers to adopt a market-oriented culture along with entrepreneurial orientation to enhance the level of employees’ satisfaction, which would enhance their skills and energies toward the attainment of new product success.Theoretical contributionsThe strategic management literature has analysed the synergistic effects of market orientation and entrepreneurial orientation on the business performance but only from a managerial perspective. However, exploring this relationship from employees’ perspective remains sparse, more particularly when studying the influence of these strategic orientations on new product success. |
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| Keywords: |
Market orientation, Entrepreneurial orientation, Employee job satisfaction, Intention to stay, New product success |
| College: |
Faculty of Humanities and Social Sciences |
| Issue: |
1 |
| Start Page: |
100467 |