• Korea Trade Review
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• v.42 no.4
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• pp.21-47
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• 2017

This study examines the effects of technological capability and domestic marketing capability of SMEs on the export market orientation, focusing on the moderating effect of market turbulence. This empirical analysis, based on surveys collected from 206 small and medium-sized firms located in Gwangju and Jeonnam provinces, yielded the following conclusions. First, technological capability of SMEs has a positive impact on export market orientation. This result not only is consistent with preceding studies but also suggests that when technological capability of SMEs is utilized as their own unique asset to reduce liability of smallness or liability of foreignness, the tendency to export might be increased. Second, domestic marketing capability of SMEs has a positive impact on export market orientation. This result suggests that as the domestic marketing capability of SMEs is used as prior knowledge reducing uncertainty to enter the overseas markets, the tendency to export might be increased. Third, as a result of examining moderating effect of market turbulence, it shows that market turbulence moderates the relationship between domestic marketing capability and export market orientation toward a negative(-) direction. That is, since market turbulence might weaken the relationship between domestic marketing capability and export market orientation, SMEs which belong to the industry considering marketing capability important need to develop strategy with consideration for market turbulence. This study provides theoretical and practical implications in that it reveals factors positively affecting export market orientation and market turbulence can be utilized as a moderator.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1009-1019
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• 2021

This study examined the effect of market sensing capability and information technology competency (IT competency) on innovation and competitive advantage in small and medium-sized tour operators (SMTOs). This research was conducted on the SMTOs located in three major cities for a tourism destination, meeting, and exhibition in East Java, Indonesia. 175 directors or managers of SMTOs were sampled using the purposive sampling technique. Data was obtained from directors or managers using a structured questionnaire. The empirical data was then analyzed by using Structural Equation Modeling (SEM). This study showed that market sensing capability positively and significantly affects innovation. Furthermore, competitive advantage was positively and significantly affected by market sensing capability. Although results showed that IT competence positively and significantly affects innovation, in contrast, it did not positively and significantly affect competitive advantage. These research findings suggest that market sensing capability and innovation have a substantial role in creating a competitive advantage for SMTOs facing the Revolution Industry 4.0 and a dynamic environment. Thus, innovation for SMTOs can be achieved by optimizing the role of market sensing capability and IT competency. However, this study also suggests that the capability or competence will not have any impact on competitive advantage if neither is optimized.

• Asia Marketing Journal
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• v.17 no.1
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• pp.27-53
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• 2015

Learning organization has been an important issue in both management and marketing areas. Also learning capability is a key construct of innovation process in a firm. Especially, in marketing context, several researchers have studied market-based learning and its relation with performance. Previous studies have shown that market-based learning has a positive impact on overall firm performance. However, there has been inconsistency in the concept of market-based learning itself and its relationships with antecedents and consequences. Given this conflicting and inconsistent results of previous research, this study has two main objectives. First, this paper proposed a conceptual framework that marketbased learning has two types of processes and each types of market-based learning will generate different types of performance. Second, the mediating role of marketing capability in learning-performance link is proposed. The proposed conceptual framework shows that organizations which have marketbased learning for innovation management can enjoy ambidextrous firm performance on both side of effectiveness and efficiency via marketing capability. Moreover our research model proposes key drivers of market based organizational learning.

• Journal of Distribution Science
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• v.20 no.7
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• pp.11-22
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• 2022

Purpose: Since the emergence of the Covid-19 pandemic, almost all the hospitality industry has experienced a decrease in the distribution of room occupancy. Therefore, this study aims to examine how to improve the performance of 5-star hotels in Bali by involving market orientation, revenue management orientation, competitive advantage, dynamic capability, and pricing capability. Research design, data and methodology: This study involved 127 managers in 62 five-star hotels in Bali. Analysis of this study using structural equation modelling (SEM) with SmartPLS software. Results: This study reveals that the performance of five-star hotels in Bali is influenced by factors such as market orientation, revenue management orientation, competitive advantage, dynamic capability, and pricing capability. In addition, revenue management orientation, competitive advantage, and dynamic capability have been shown to mediate the effect of market orientation on the performance of five-star hotels in Bali. Finally, pricing capability has been proven to have not been able to increase the revenue and performance of five-star hotels in Bali. Conclusions: Hotel performance is largely determined by several important factors which include market orientation, revenue management orientation, competitive advantage, dynamic capability, and pricing capability. This study provides important implications for hospitality practitioners to improve the distribution of hotel performance.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.65-76
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• 2021

This study aims at investigating the effect of product innovation accounting on the market success of instant food and convenience food businesses in Thailand with customer response capability as the mediator. In addition, it examines the effects of management accounting systems, marketing intelligence, and technology orientation on product innovation accounting. The sample for this study is 258 instant food and convenience food businesses in Thailand. To test the research relationships, a structural equation model is used. The results of this study show that product innovation accounting has a significant effect on both customer response capability and market success. Similarly, customer response capability significantly leads to market success while it mediates the product innovation accounting-market success relationship. Testing the antecedents of the research relationships, management accounting system, marketing intelligence, and technology orientation potentially affect product innovation accounting. Accordingly, product innovation accounting is a key source of competitive advantage. Product innovation accounting must be recognized by company management as a strategic tool for competing in markets and environments. They must invest their resources and capabilities to create and develop product innovation accounting principles, as well as encouraging their staff to implement and use these principles in the workplace.

• Asia pacific journal of information systems
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• v.17 no.2
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• pp.1-28
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• 2007

The success of new product development is a key factor for getting competitive advantages. Marketing research has been investigating marketing capability, manufacturing technical capability, cross-functional integration, market knowledge competence, market orientation, and competitive environment as the key success factors of new product development. Recently, the role of IT infrastructure in enhancing new product advantage is assumed in the literature. However, the empirical studies on the role of IT infrastructure are lacking. The purpose of this study is to empirically exam the impacts of IT infrastructure on new product competitive advantage. In this study, IT infrastructure is conceptualized as the flexibility of IT infrastructure. Based on previous research, a conceptual model is established by incorporating the direct impact of IT infrastructure flexibility and its indirect impact through the key success factors on new product development. To empirically test the research model, data are surveyed from a pair of IS department and Marketing department of 92 consumer goods manufacturers. By employing PLS technique, the measurement reliability and reliability of research variables are tested and the path analysis is conducted to do the hypothesis testing. The path analysis shows that IT infrastructure flexibility has no direct effect on new product advantage, However, the indirect effect of IT infrastructure is found, which is mediated by marketing capability, manufacturing technical capability, cross-functional integration, and market orientation respectively. Hence, The flexible IT infrastructure increases cross-functional integration (H1), market orientation (H3), marketing capability (H5), and manufacturing technical capability (H6). All success factors of new product development excepts for competitive environment have a positive association with new product competitive advantages (from H10 to H14). Finally, the path from IT infrastructure flexibility to cross-functional integration, to market orientation, to market knowledge capability, and to new product advantage is found as the strongest path. These results indicate that the flexible IT infrastructure enhances information sharing with multiple departments and collaboration within a distributed innovation environment. The collaboration among departments positively affects the level of customer and competitor intelligence. The ability to obtain knowledge about customers and competitors makes firms to adapt to a changing environment quickly and to respond to customers' demands adequately. The flexible IT infrastructure also enhances the capability of organization to more rapidly respond to the changes in product design resulting in faster product development and reduced costs. In addition to, it enhances marketing capability by the two-way communications with customers and the analyses of various kinds of customer data. In brief, the finding of this study suggests that the flexible IT infrastructure allows many firms to pursue sustained new product competitive advantages. This study advances research on IT infrastructure in two important aspects. First, by Integrating marketing research and IS research, this study develops a conceptual model on the role of IT infrastructure in enhancing new product advantage. Second, it empirically finds the indirect impacts of IT infrastructure on new product advantage, which confirms the potential for the IS field to contribute to new product development research. The limitations of this study are also discussed to provide research directions for future research.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2008.10a
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• pp.152-156
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• 2008

This study examines the relationships between R&D investment and Market value of Firms using data of small and medium enterprises (SMEs) in the manufacturing sector of Korea. In particular, this paper investigates the role of technology innovation system in the impact of R&D investment on firm's Market value of Firms. Findings from the previous studies on the relationship between R&D investment and Market value of Firms are positive relationship. Main of the previous studies demonstrated a positive impact of R&D investment on Market value of Firms. On the other hand, some recent studies showed this is not the case. Those studies persisted that the technological innovation system for managing and efficiently utilizing R&D investment and capability has to be built in order for R&D investment to give rise to increases in Market value of Firms. According to the Oslo manual by OECD, it is assumed that a technology innovation system can becharacterized as three factors :capability for technological innovation, capability for technology commercialization, capability for technological innovation management. This study divides sample firms into two groups using the "Inno-Biz" certificate system of the Korean Small and Medium Business Administration (SMBA): Inno-Biz firms Vs. Not Inno-Biz firms. The system selects innovative SMEs denoted as "Inno-Biz" using the above factors as criteria. The results revealed that the technology innovation system has the moderating effect to R&D investment on Market value of Firms.

• Korean small business review
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• v.32 no.1
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• pp.65-87
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• 2010

With the advent of knowledge-based society, the revitalization of technological innovation type SMEs, termed "inno-biz" hereafter, has been globally recognized as a government policymakers' primary concern in strengthening national competitiveness, and much effort is being put into establishing polices of boosting the start-ups and innovation capability of SMEs. Especially, in that the inno-biz enables national economy to get vitalized by widening world markets with its superior technology, and thus, taking the initiative of extremely competitive world markets, its growth and development has greater significance. In the case of Korea, the government has been maintaining the policies since the late 1990s of stimulating the growth of SMEs as well as building various infrastructures to foster the start-ups of the SMEs such as venture businesses with high technology. In addition, since the enactment of "Innovation Promotion Law for SMEs" in 2001, the government has been accelerating the policies of prioritizing the growth and development of inno-biz. So, for the sound growth and development of Korean inno-biz, this paper intends to offer effective management strategies for SMEs and suggest proper policies for the government, by researching into the effect of technological innovation capability and technology commercialization capability as the primary business resources on business performance in Korean SMEs in the light of market information orientation. The research is carried out on Korean companies characterized as inno-biz. On the basis of OSLO manual and prior studies, the research categorizes their status. R&D capability, technology accumulation capability and technological innovation system are categorized into technological innovation capability; product development capability, manufacturing capability and marketing capability into technology commercialization capability; and increase in product competitiveness and merits for new technology and/or product development into business performance. Then the effect of each component on business performance is substantially analyzed. In addition, the mediation effect of technological innovation and technology commercialization capability on business performance is observed by the use of the market information orientation as a parameter. The following hypotheses are proposed. H1 : Technology innovation capability will positively influence business performance. H1-1 : R&D capability will positively influence product competitiveness. H1-2 : R&D capability will positively influence merits for new technology and/or product development into business performance. H1-3 : Technology accumulation capability will positively influence product competitiveness. H1-4 : Technology accumulation capability will positively influence merits for new technology and/or product development into business performance. H1-5 : Technological innovation system will positively influence product competitiveness. H1-6 : Technological innovation system will positively influence merits for new technology and/or product development into business performance. H2 : Technology commercializing capability will positively influence business performance. H2-1 : Product development capability will positively influence product competitiveness. H2-2 : Product development capability will positively influence merits for new technology and/or product development into business performance. H2-3 : Manufacturing capability will positively influence product competitiveness. H2-4 : Manufacturing capability will positively influence merits for new technology and/or product development into business performance. H2-5 : Marketing capability will positively influence product competitiveness. H2-6 : Marketing capability will positively influence merits for new technology and/or product development into business performance. H3 : Technology innovation capability will positively influence market information orientation. H3-1 : R&D capability will positively influence information generation. H3-2 : R&D capability will positively influence information diffusion. H3-3 : R&D capability will positively influence information response. H3-4 : Technology accumulation capability will positively influence information generation. H3-5 : Technology accumulation capability will positively influence information diffusion. H3-6 : Technology accumulation capability will positively influence information response. H3-7 : Technological innovation system will positively influence information generation. H3-8 : Technological innovation system will positively influence information diffusion. H3-9 : Technological innovation system will positively influence information response. H4 : Technology commercialization capability will positively influence market information orientation. H4-1 : Product development capability will positively influence information generation. H4-2 : Product development capability will positively influence information diffusion. H4-3 : Product development capability will positively influence information response. H4-4 : Manufacturing capability will positively influence information generation. H4-5 : Manufacturing capability will positively influence information diffusion. H4-6 : Manufacturing capability will positively influence information response. H4-7 : Marketing capability will positively influence information generation. H4-8 : Marketing capability will positively influence information diffusion. H4-9 : Marketing capability will positively influence information response. H5 : Market information orientation will positively influence business performance. H5-1 : Information generation will positively influence product competitiveness. H5-2 : Information generation will positively influence merits for new technology and/or product development into business performance. H5-3 : Information diffusion will positively influence product competitiveness. H5-4 : Information diffusion will positively influence merits for new technology and/or product development into business performance. H5-5 : Information response will positively influence product competitiveness. H5-6 : Information response will positively influence merits for new technology and/or product development into business performance. H6 : Market information orientation will mediate the relationship between technology innovation capability and business performance. H7 : Market information orientation will mediate the relationship between technology commercializing capability and business performance. The followings are the research results : First, as for the effect of technological innovation on business performance, the technology accumulation capability and technological innovating system have a positive effect on increase in product competitiveness and merits for new technology and/or product development, while R&D capability has little effect on business performance. Second, as for the effect of technology commercialization capability on business performance, the effect of manufacturing capability is relatively greater than that of merits for new technology and/or product development. Third, the mediation effect of market information orientation is identified to exist partially in information generation, information diffusion and information response. Judging from these results, the following analysis can be made : On Increase in product competitiveness, directly related to successful technology commercialization of technology, management capability including technological innovation system, manufacturing capability and marketing capability has a relatively strong effect. On merits for new technology and/or product development, on the other hand, capability in technological aspect including R&D capability, technology accumulation capability and product development capability has relatively strong effect. Besides, in the cast of market information orientation, the level of information diffusion within an organization plays and important role in new technology and/or product development. Also, for commercial success like increase in product competitiveness, the level of information response is primarily required. Accordingly, the following policies are suggested : First, as the effect of technological innovation capability and technology commercialization capability on business performance differs among SMEs; in order for SMEs to secure competitiveness, the government has to establish microscopic policies for SMEs which meet their needs and characteristics. Especially, the SMEs lacking in capital and labor are required to map out management strategies of focusing their resources primarily on their strengths. And the government needs to set up policies for SMEs, not from its macro-scaled standpoint, but from the selective and concentrative one that meets the needs and characteristics of respective SMEs. Second, systematic infrastructures are urgently required which lead technological success to commercial success. Namely, as technological merits at respective SME levels do not always guarantee commercial success, the government should make and effort to build systematic infrastructures including encouragement of M&A or technology trade, systematic support for protecting intellectual property, furtherance of business incubating and industrial clusters for strengthening academic-industrial network, and revitalization of technology financing, in order to make successful commercialization from technological success. Finally, the effort to innovate technology, R&D, for example, is essential to future national competitiveness, but its result is often prolonged. So the government needs continuous concern and funding for basic science, in order to maximize technological innovation capability. Indeed the government needs to examine continuously whether technological innovation capability or technological success leads satisfactorily to commercial success in market economic system. It is because, when the transition fails, it should be left to the government.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.62 no.4
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• pp.457-466
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• 2013

Wind energy is rapidly becoming significant generating technologies in electricity markets. As probabilistic nature of wind energy creates many uncertainties in the short-term scheduling, additional actions for reliable market operation should be taken. This paper presents a novel approach to evaluate ramping capability requirement for changes in imbalance energy between day-ahead market and real-time market due to uncertainty of wind generation as well as system load. Dynamic ramp rate model has been applied for realistic solution in unit commitment problem, which is implemented in day-ahead market. Probabilistic optimal power flow has been used to verify ramping capability determined by the proposed method is reasonable in economic and reliable aspects. This approach was tested on six-bus system and IEEE 118-bus system with a wind farm. The results show that the proposed approach provides ramping capability information to meet both forecasted variability and desired confidence level of anticipated uncertainty.

• ETRI Journal
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• v.36 no.3
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• pp.490-497
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• 2014

The market performance of WiBro in Korea has not been as expected, and its rapid diffusion in the near future is unlikely owing to the existence of competing services. There has been little research on the factors affecting this low market diffusion. This study is based on an analytical framework in which a lack of service capability and the insufficiency of service-related activities have resulted in the current poor market performance. An expert survey was conducted on WiBro specialists and verified using the analytical hierarchy process method. The result of this analysis is as follows: underinvestment in network deployment and marketing, insufficient promotional policies, and a shortage of service capabilities are to be analyzed as the main causes of WiBro's low market diffusion.