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Exploring the Mediating Effect of Product Novelty of Business Ventures on the Relationship between Product Development Strategy Implementation and Performance  

Yoon, Hyunjoong (Division of Business Administration & Accounting, Kangwon National University)
Publication Information
Asia-Pacific Journal of Business Venturing and Entrepreneurship / v.13, no.4, 2018 , pp. 23-34 More about this Journal
Abstract
This study examines the mediating effect of product innovation on the relationship between product development strategy implementation and product development performance of business ventures. The previous researches on product development has mainly focused on the role of venture firms' technological capabilities or that of entrepreneurship in product development. Although there are many important discussions related to the product development of business venture, a more discussion on the relationship between product development strategy implementation and performance of product development is needed. The purpose of current study is to examine the relationship between the entrepreneurial orientation and the R&D department on product development performance. To confirm the model of Day & Wensley(1988) that product novelty mediates the relationship between product development strategy and product development performance. The research results of 703 Korean business ventures suggest that the implementation strategies for product development such as utilizing entrepreneurial orientation and R&D department are more effective for business ventures in terms of product development performance. Also product novelty was prove to be a mediator that intervene the relationships between implementation of product development strategy and product development performance. Those findings may provide implications for whom has interested in the relationship between entrepreneurship and product development performance of business ventures. The differences in between new and existing product performance from the implementation strategy of product development may provide implications for practitioners who understand the process of product development.
Keywords
Product Development Strategy; Product Development Performance; R&D Department; Entrepreneurial Orientation; Product Novelty;
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Times Cited By KSCI : 1  (Citation Analysis)
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