Market Orientation, Innovation and Entrepreneurship: An Empirical Examination of the Illinois Beef Industry
No hay miniatura disponible
Fecha
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Resumen
Descripción
This paper explores the importance of a producer’s market orientation on their subjective performance within agricultural commodity markets. Using a structural equation model of beef producers, our findings suggest that market oriented firms are highly innovative and achieve superior performance. These findings are consistent with previous research on the market orientation-performance relationship in heterogeneous product markets. The cost focus of a firm was also found to have a significant influence on innovation, but no direct effect on performance. This suggests that beef producers should follow a balanced approach utilizing both an external market and an internal productivity focus to achieve superior returns as opposed to solely focusing on internal productivity as many producers currently do.