Asia-Pacific Journal of Business Venturing and Entrepreneurship (벤처창업연구)

The Korean Society of Business Venturing (한국벤처창업학회)
권호 표지

The Impact of External Search Strategy on Radical Innovation Performance

외부지식 탐색 전략이 급진적 혁신성과에 미치는 영향

  • Ahn, He Soung (Korea University Institute for Business Research and Education) ;
  • Kim, Juhee (Korea University Business School)
  • 안혜성 (고려대학교 기업경영연구원) ;
  • 김주희 (고려대학교 경영학과)
  • Received : 2018.01.17
  • Accepted : 2018.04.27
  • Published : 2018.04.30
Download PDF
⟨ Previous Next ⟩

Abstract

This paper investigates the relationship between external search strategy and radical innovation performance. As the discrepancies that can exist among the varying sources of external knowledge is overlooked, the existing literature on the effect of external search strategy on radical innovation performance remains inconclusive. This study aims to reconcile such mixed findings by recognizing that external knowledge can be distinctive depending on the environment in which its source is embedded in; specifically, this paper examines the relationship between external search strategy and radical innovation performance by distinguishing external search from 'market' and 'non-market' relationships. We test our hypotheses with a sample of 431 firms from the manufacturing industries from the 2010 STEPI survey. Our empirical findings suggest that external search strategy from market relationships positively influences radical innovation performance, while the influence of external search strategy from non-market relationships is found to be not significant. Our research suggests that in order to improve radical innovation performance, firms must be able to maintain a cooperative relationship with other actors connected with market relationships and to effectively exploit the market knowledge obtained from these actors.

오늘날 역동적이고 불확실성이 큰 시장 환경 속에서 급진적 혁신의 성과를 높이는데 있어서 외부지식 탐색 전략의 중요성은 커지고 있다. 하지만 외부지식 탐색 전략에 대한 기존의 연구들은 지식의 원천을 구분하지 않고 모호하게 측정하였기 때문에 외부지식 탐색 전략이 급진적 혁신성과에 미치는 영향에 대해 상반된 결과들이 존재하였다. 이에 본 연구에서는 급진적 혁신을 위한 새로운 지식이 다른 환경에서 배태되었을 경우 각기 상이한 특성을 지닐 수 있음을 고려하여, 외부지식 탐색 전략을 '시장 관계'와 '비시장 관계'로 나누어 이들이 급진적 혁신성과에 미치는 영향을 살펴보고자 한다. '시장 관계'는, 기업이 시장에서 직접적으로 맞닿게 되는 행위자들로 구성된 원천으로 이들을 통해 시장지식(Market Knowledge)을 제공하는 반면에, '비시장 관계'는 시장 내에서 기업들이 직접적으로 경쟁하는 관계가 아니지만 시장지식을 넘어서는 새롭고 참시한 기초 과학적 지식(Basic Scientific Knowledge)을 습득할 수 있게 한다. 이렇게 외부지식의 원천을 구분함으로써 각각 이들이 제공하는 지식의 고유한 특성과 급진적 혁신 성과 간의 관계에 대한 이해를 보다 깊이 하고자 하였다. 이를 위하여 과학기술정책연구원(STEPI)에서 제공하고 있는 제조업 분야의 431개 기업 데이터를 활용하여 실증 분석하였다. 분석 결과 외부지식 탐색 전략 중 '시장 관계'에 기반을 둔 광범위하고 심도 있는 외부지식 탐색은 모두 급진적 혁신 성과에 긍정적인 영향을 미치는 것으로 나타났지만, '비시장 관계'를 통해 탐색된 외부지식은 급진적 혁신 성과에 영향을 미치지 못하는 것으로 나타났다. 이러한 연구 결과는 기업이 급진적 혁신성과를 향상시키기 위해서는 시장 내의 행위자들과 상호 협력적인 관계를 유지해 나가면서 시장 지식을 효율적으로 활용할 필요성이 있음을 시사한다.

Keywords

References

  1. Arora, A., & Gambardella, A.(1990). Complementarity and External Linkages: The Strategies of the Large Firms in Biotechnology, The Journal of Industrial Economics, 38(4), 361-379. https://doi.org/10.2307/2098345
  2. Belderbos, R., Carree, M., Diederen, B., Lokshin, B., & Veugelers, R.(2004). Heterogeneity in R&D Cooperation Strategies, International Journal of Industrial Organization, 22(8), 1237-1263. https://doi.org/10.1016/j.ijindorg.2004.08.001
  3. Cassiman, B., & Veugelers, R.(2006). In Search of Complementarity in Innovation Strategy: Internal R&D and External Knowledge Acquisition, Management Science, 52(1), 68-82. https://doi.org/10.1287/mnsc.1050.0470
  4. Chae, H. S., Choi, Y. Y., & Hui, E. J.(2014). Open Innovation in Venture Firms: The Impact of External Search Strategy on Innovation Performance of Korean Manufacturing Firms, Asia-Pacific Journal of Business Venturing and Entrepreneurship, 9(1), 1-13.
  5. Chandy, R. K., & Tellis, G. J.(2000). The Incumbent's Curse? Incumbency, Size, and Radical Product Innovation, Journal of Marketing, 64(3), 1-17. https://doi.org/10.1509/jmkg.64.3.1.18033
  6. Chesbrough, H.(2003). The Logic of Open Innovation: Managing Intellectual Property, California Management Review, 45(3): 33-58. https://doi.org/10.2307/41166175
  7. Chiang, Y. H., & Hung, K. P.(2010). Exploring Open Search Strategies and Perceived Innovation Performance from the Perspective of Inter-organizational Knowledge Flows, R&D Management, 40(3), 292-299. https://doi.org/10.1111/j.1467-9310.2010.00588.x
  8. Cohen, W. M., & Levinthal, D. A.(1990). Absorptive Capacity: A New Perspective on Learning and Innovation, Administrative Science Quarterly, 35(1), 128-152. https://doi.org/10.2307/2393553
  9. Dalziel, M.(2007). Games of Innovation: The Roles of Nonprofit Organizations, International Journal of Innovation Management, 11(1), 191-214. https://doi.org/10.1142/S1363919607001679
  10. Dewar, R. D., & Dutton, J. E.(1986). The Adoption of Radical and Incremental Innovations: An Empirical Analysis, Management Science, 32(11), 1422-1433. https://doi.org/10.1287/mnsc.32.11.1422
  11. Dussauge, P., Garrette, B., & Mitchell, W.(2000). Learning from Competing Patterns: Outcomes and Durations of Scale and Link Alliance in Europe, North America and Asia, Strategic Management Journal, 21(2), 99-126. https://doi.org/10.1002/(SICI)1097-0266(200002)21:2<99::AID-SMJ80>3.0.CO;2-G
  12. Dyer, J. H., & Nobeoka, K.(2000). Creating and Managing a High-performance Knowledge-sharing Network: The Toyota Case, Strategic Management Journal, 21(3), 345-367. https://doi.org/10.1002/(SICI)1097-0266(200003)21:3<345::AID-SMJ96>3.0.CO;2-N
  13. Garcia, R., & Calantone, R.(2002). A Critical Look at Technological Innovation Typology and Innovativeness Terminology: A Literature Review, Journal of Product Innovation Management, 19(2), 110-132. https://doi.org/10.1111/1540-5885.1920110
  14. Grimpe, C., & Sofka, W.(2009). Search Patterns and Absorptive Capacity: Low- and High-technology Sectors in European Countries, Research Policy, 38(3): 495-506. https://doi.org/10.1016/j.respol.2008.10.006
  15. Hair, J., Black, W. C., Babin, B. J., & Anderson, R. E.(2010). Multivariate Data Analysis, Upper Saddle River, NJ: Pearson Education International.
  16. Hargadon, A., & Sutton, R.(1997). Technology Brokering and Innovation in a Product Development Firm, Administrative Science Quarterly, 42(4), 716-749. https://doi.org/10.2307/2393655
  17. Holburn, G. L., & Vanden Bergh, R. G.(2014). Integrated Market and Nonmarket Strategies: Political Campaign Contributions around Merger and Acquisition Events in the Energy Sector, Strategic Management Journal, 35(3), 450-460. https://doi.org/10.1002/smj.2096
  18. Jung, J. Y., Rho, T. Y., & Han, Y. J.(2014). External Knowledge Search Strategy and Technological Innovation-Small vs Medium Firms, Asia-Pacific Journal of Business Venturing and Entrepreneurship, 9(5), 173-180.
  19. Katila, R., & Ahuja, G.(2002). Something Old, Something New: A Longitudinal Study of Search Behavior and New Product Introduction, Academy of Management Journal, 45(6), 1183-1194. https://doi.org/10.2307/3069433
  20. Kim, B. S., & Kim, E. S.(2009). Knowledge Search, Absorptive Capacity, and Innovation Speed, Journal of Strategic Management, 12(1), 1-24.
  21. Kwak, K. H., Jeong, S. K., & Jo, H.(2013). An Exploratory Study on the Role of Government Research Institute in Open Innovation of Capital Goods: Focusing on the General Machinery Industry, Asia Pacific Journal of Small Business, 35(3), 1-24.
  22. Langerak, F.(2003). An Appraisal of Research on the Predictive Power of Market Orientation, European Management Journal, 21(4), 447-464. https://doi.org/10.1016/S0263-2373(03)00073-2
  23. Laursen, K., & Salter, A.(2006). Open for Innovation: The Role of Openness in Explaining Innovation Performance Among U.K. Manufacturing Firms, Strategic Management Journal, 27(2), 131-150. https://doi.org/10.1002/smj.507
  24. Leana, C. R., & Van Buren, H. J.(1999). Organizational Social Capital and Employment Practices, Academy of Management Review, 24(3), 538-555. https://doi.org/10.5465/amr.1999.2202136
  25. Levinthal, D. A., & March, J. G.(1993). The Myopia of Learning, Strategic Management Journal, 14(S2), 95-112. https://doi.org/10.1002/smj.4250141009
  26. Li, T., & Calantone, R. J.(1998). The Impact of Market Knowledge Competence on New Product Advantage: Conceptualization and Empirical Examination, Journal of Marketing, 62(4), 13-29. https://doi.org/10.1177/002224299806200402
  27. Luca, L. M. D., & Atuahene-Gima, K.(2007). Market Knowledge Dimensions and Cross-functional Collaboration: Examining the Different Routes to Product Innovation Performance, Journal of Marketing, 71(1), 95-112. https://doi.org/10.1509/jmkg.71.1.95
  28. McEvily, B., & Zaheer, A.(1999). Bridging Ties: A Source of Firm Heterogeneity in Competitive Capabilities, Strategic Management Journal, 20(12), 1138-1156.
  29. Min, I. S., & Choi, P. S.(2017). STATA Introduction and Application, Paju: Jiphil Media.
  30. Morgan, N. A., Vorhies, D. W. & Mason, C. H.(2009). Market Orientation, Marketing Capabilities, and Firm Performance, Strategic Management Journal, 30(8), 909-920. https://doi.org/10.1002/smj.764
  31. Nerkar, A., & Roberts, P. W.(2004). Technological and Product Market Experience and the Success of New Product Introductions in the Pharmaceutical Industry, Strategic Management Journal, 25(8-9), 779-799. https://doi.org/10.1002/smj.417
  32. Niedrich, R. W., & Swain, S. D.(2003). The Influence of Pioneer Status and Experience Order on Consumer Brand Preference: A Mediated-effects Model, Journal of the Academy of Marketing Science, 31(4), 468-480. https://doi.org/10.1177/0092070303254796
  33. Popadiuk, S., & Choo, C. W.(2006). Innovation and Knowledge Creation: How Are These Concepts Related?, International Journal of Information Management, 26(4), 302-312. https://doi.org/10.1016/j.ijinfomgt.2006.03.011
  34. Roh, D. H., Jeong, Y. K., & Park, H. Y.(2016). An Analysis on the Relative Importance Evaluation of SMEs.Venture Technology Commercialization Problems Using AHP, Asia-Pacific Journal of Business Venturing and Entrepreneurship, 11(1), 1-12.
  35. Rosenkopf, L., & Nerkar, A.(2001). Beyond Local Search: Boundary-spanning, Exploration, and Impact in the Optical Disk industry, Strategic Management Journal, 22(4), 287-306. https://doi.org/10.1002/smj.160
  36. Sammarra, A., & Biggiero, L.(2008). Heterogeneity and Specificity of Inter-firm Knowledge Flows in Innovation Networks, Journal of Management Studies, 45(4), 800-829. https://doi.org/10.1111/j.1467-6486.2008.00770.x
  37. Shane, S.(2000). Prior Knowledge and the Discovery of Entrepreneurial Opportunities, Organization Science, 11(4), 448-469. https://doi.org/10.1287/orsc.11.4.448.14602
  38. Simonin, B. L.(1999). Transfer of Marketing Know-how in International Strategic Alliances: An Empirical Investigation of the Role and Antecedents of Knowledge Ambiguity, Journal of International Business Studies, 30(3), 463-490. https://doi.org/10.1057/palgrave.jibs.8490079
  39. Taylor, A., & Greve, H. R.(2006). Superman or the Fantastic Four? Knowledge Combination and Experience in Innovative Teams, Academy of Management Journal, 49(4), 723-740. https://doi.org/10.5465/amj.2006.22083029
  40. Tether, B. S.(2002). Who Co-operates for Innovation, and Why: An Empirical Analysis, Research Policy, 31(6), 947-967 https://doi.org/10.1016/S0048-7333(01)00172-X
  41. Terjesen, S., & Patel, P. C.(2017). In Search of Process Innovations: The Role of Search Depth, Search Breadth, and the Industry Environment, Journal of Management, 43(5), 1421-1446. https://doi.org/10.1177/0149206315575710
  42. Tuomi, I.(2002). Networks of Innovation, Oxford, Oxford University Press.
  43. Uzzi, B., & Gillespie, J. J.(2002). Knowledge Spillover in Corporate Financing Networks: Embeddedness and the Firm's Debt Performance, Strategic Management Journal, 23(7), 595-618. https://doi.org/10.1002/smj.241
  44. Wadhwa, A., & Kotha, S.(2006). Knowledge Creation through External Venturing: Evidence from the Telecommunications Equipment Manufacturing Industry, Academy of Management Journal, 49(4), 819-835. https://doi.org/10.5465/amj.2006.22083132
  45. Wiklund, J., & Shepherd, D.(2003). Knowledge-based Resources, Entrepreneurial Orientation, and the Performance of Small and Medium-sized Businesses, Strategic Management Journal, 24(13), 1307-1314. https://doi.org/10.1002/smj.360
  46. Williams, B., Onsman, A., & Brown, T.(2010). Exploratory factor analysis: A five-step guide for novices, Austrian Journal of Paramedicine, 8(3), 1-13.
  47. Zahra, S. A., & George, G.(2002). Absorptive Capacity: A Review, Reconceptualization, and Extension, Academy of Management Review, 27(2), 185-203. https://doi.org/10.5465/amr.2002.6587995
  48. Zhou, K. Z., & Li, C. B.(2012). How Knowledge Affects Radical Innovation: Knowledge Base, Market Knowledge Acquisition, and Internal Knowledge Sharing, Strategic Management Journal, 33(9), 1090-1102. https://doi.org/10.1002/smj.1959