中国新技术企业在产品开发绩效营销策略创新的权变价值英文中文对照翻译.docx

中国新技术企业在产品开发绩效营销策略创新的权变价值英文中文对照翻译.docx

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中国新技术企业在产品开发绩效营销策略创新的权变价值英文中文对照翻译

Thecontingentvalueofmarketingstrategyinnovativenessforproduct

developmentperformanceinChinesenewtechnologyventures

Abstract

Thisstudyextendsresearchonentrepreneurialbehaviorbyinvestigatingtherelationshipbetweenthemarketingstrategyinnovativeness（MSI）andnewproductperformanceintechnology-basednewventuresinChina.Specifically,premisedoncontingentresource-basedviewwearguethatMSIisafirmcapabilitythatmustbebundledwithexternalmanagerialrelationshipsandbedeployedintheappropriateenvironmenttoensureitssuccess.Wefoundthattheteam'sextraindustryrelationshipsandmarketdynamismenhancedtheimpactofMSIonnewproductperformance.Incontrast,topmanagementteam'sintraindustryrelationships,financialrelationships,andtechnologydynamismhinderedtheimpactofMSIonnewproductperformance.

1.Introduction

Thevastmajorityofresearchonorganizationalinnovationadoptsaresource-basedperspectivethatpredictspositivereturnstoorganizationalresourcesandcapabilities.Thisworkhasbeenrestricted,however,tothenarrowcontextofproductinnovation.Althoughproductinnovationenhancesfirmperformanceonlywhenitissuccessfullycommercialized,priorresearchtendstopaylittleattentiontoaccompanyingmarketinginnovations（Shervani&Zerrillo,1997）.Thecurrentstudyconcernsaneglected,yetpotentiallypositiveentrepreneurialstrategicactivity—marketingstrategyinnovativeness（MSI）—whichreferstothedegreetowhichthemarketingstrategywhichaccompaniesanewproductdiffersfromcompetingstrategiesandconventionalpractices（Andrews&Smith,1996;Hambrick,Cho,&Chen,1996;Menon,Bharadwaj,Adidam,&Edisonet,1999;Sethietal.,2001）.ExamplesofMSIpracticesincludetheuseofnewpackaging,newdistributionmethodsandchannels,newadvertisingmediaandcontent,ingeniouspricingandpaymentmethods.MSIensuresthenewproductenjoysauniquecompetitivepositionbecauseitisradical,departsfromthestatusquo,isproactive,unconventionalandunpredictable（Andrews&Smith1996;Hambricketal.,1996;Menonetal.,1999）.Thus,MSIislikelytostrengthenthepositionofthenewproductinthemarketplaceaboveandbeyondthevalueconveyedbyitsphysicalcharacteristics（Andrews&Smith,1996）.

MSIisclassedascapabilitybecauseitistheoutcomeofafirm'sspecializedknowledge,uniqueunderstandingoftheenvironmentandidiosyncraticprocesses（Eisenhardt&Martin,2000）.AsVerona（1999:

139）posits,theabilitytocreativelyandimaginativelymakestrategicdecisionsregardingaproduct'sdevelopmentanditsmarketingarerent-generatingroutinesthatenhanceperformance.MSImayenhanceproductdevelopmentperformancebycreatinguncertaintiesforcompetitorsthroughvariationinthebasesofcompetition（Eisenhardt&Tabrizi,1995）.CapturingthecontributionofMSIattheproductdevelop-mentlevelisalsoconsistentwiththeideathatresources'contributiontoperformanceshouldbeinvestigatedbydisaggregatingfirmperformanceintoprocesseswhicharelessdistalfromthefocalresources（Ray,Barney,&Muhanna,2004）.

However,EisenhardtandMartin（2000:

1110）suggestthatdespitetheirvalue,capabilitiesaresubstitutablebecausetherearemultiplepathsthroughwhichfirmscanacquirethesamedynamiccapabilitiesindependentofotherfirms.Hence,capabilitiesmaybenecessary,butnotsufficient,sourcesofsustainedcompetitiveadvantage.Thisimpliesthatafocalcapabilityneedstobemadeinimitablethroughcombinationwithotherorganizationalskillsandcapabilitiesanddeploymentintheappropriateenvironment（Eisenhardt&Martin,2000）.AsBarney（1991）argues,eventhoughafirm'scapabilitymaybevaluable,rareandinimitable,itsabilitytoprovidesustainablecompetitiveadvantageoftenliesinitsconfigurationwithcomplementaryinternalandexternalresources.Teece,Pisano,andShuen（1997:

515）alsoarguethatperformanceoutcomesofafirm'scapabilitydependonitsma-nagementabilitytodeploythecapabilityinanappropriateenvironment.Finally,Porter（1991:

108）warnsagainstinternalfocusonresourcesbecausethecompetitivevalueofresourcescanbeenhancedoreliminatedbychangesintechnology,competitorbehaviororbuyerneeds.

Drawingonthiscontingentresource-basedviewofthefirm,weadvanceandtesttheideathat,particularlyinnewventuresinanemergingeconomicenvironment,theimpactofMSIonnewproductperformanceisconditionaluponitstopmanagementteam'sexternalrelationshipsandenvironmentalconditions.Newventurestendtohavehigherfailureratesthanestablishedfirms.Stinchcombe（1965）providedseveralreasonsforthisliabilityofnewness.Theyhavelimitedresources,lackofinfor-mationprocessingstructures,andstablelinkswithclients,supportersandcustomers.Giventheirliabilitiesofnewness,newventuresneedtobecreativeandlearnnewrolesandtasksandthismayconflictwithconstraintsontheirresources.Moreover,asaformoffirst-moving,MSIisinherentlyrisky（Ketchen,Snow,&Hoover,2004）.First,ittakestimeandresources（i.e.,increasedsalesforceefforts）toeducatecustomerstothenewmarketingstrategyfeatures;further,MSIcanexposenewventurestostrongandunpredictedreactionsbyincumbents;lastly,MSIcanbeimitatedbycompetitors,whocancapitalizeontheearlyerrorsmadebythenewventure.Thesecontrastingargumentsreinforcetheneedtounderstandunderwhichcircumstances（i.e.,onwhichinternalandexternalcontingencies）MSIwillcontributetonewproductperformance.

Incontrasttodevelopedmarketeconomies,thecomplexityanddynamismofthetransitionalenvironmentinChinameansthatfirmsmustconfrontthechallengesofnew（oftendysfunctional）competitionandalsocollapsingcapabilities（Li&Atuahene-Gima,2001,2002）.Thus,scholarssuggestthatsuccessinChinamarketrequiressignificantexplorationinvolvingexperimentationandinnovation（Luo,2002;Luo&Park,2001,p.145）.WecontendthattosustaintheviabilityoftheirinnovativemarketingstrategiesinChina,newventuremanagersmayneedtoleveragetheirexternalrelationships.ResearchsuggeststhatexternalrelationshipsareparticularlyimportantsourcesofvaluableresourcesandinformationthatcanaugmentfirmperformanceintransitionaleconomieslikeChina（Park&Luo,2001;Peng&Luo,2000）.Becauseoftheirliabilitiesofnewness,wepositthataventure'stopmanagementteam'sexternalsocialcapital（i.e.,theabilitytomobilizefinancialresources,informationandsupportthroughexternalrelationshipswithmanagersinsideandoutsidetheindustry,andwithofficialsofgovernmentandfinancialinstitutions）maydeterminethedegreeofsuccessofMSI.Insupportofthisidea,Lee,Lee,andPennings（2001）foundthatexternalrelationshipswithventurecapitalistsanduniversitiesenhancedtheperfor-manceeffectsoftheentrepreneurialorientationandtechnologycapabilitiesofnewventures,respectively.Further,consideringthatthevalueofafirm'scapabilitiesandresourcesiscontextspecific（Eisenhradt&Martin,2000;Porter,1991;Teeceetal.,1997）,weproposethattechnologyandmarketuncertaintywillplayanimportantroleintheeffectivenessofMSI.

Thisstudycontributestotheliteratureinthreeimportantareas.FirstitcontributestotheabovementioneddebateontheinherentvalueofMSIanditsrelationshipwithperformance.Forexample,priorresearchhasassumedapositiverelationshipbetweenMSIandnewproductperformance（Andrews&Smith,1996）.However,suchanassumptiontendstoignorethetransactioncostsassociatedwithMSIand,moregenerally,overlooksthepotentialproblemsassociatedwiththedeviationfromindustrypractices.Hence,determiningwhenMSIwillincreasenewproductperformanceoffersadirecttestofthecontingencyviewofinternalfirmcapabilitiesespousedinresource-basedtheory（Barney,1991;Teeceetal.,1997）.Second,despiterecenttheoreticaldevelopments（Blyler&Coff,2003）,fewempiricalstudiesmodelthefirm'ssocialcapitalasapotentialcomplementofinternalcapabilities;thisstudyextendsourunderstandingbyforthefirsttimeexaminingmanagerialrelationshipsbothinsideandoutsidetheindustry,ascalledforbyPengandLuo（2000）.Finally,thisstudyextendsandlendssupporttorecentworkthatintegratesresource-basedandsocialcapitaltheoriesasanexplanationfornewventureperformanceintheChinesecontext（Leeetal.,2001）.

2.Conceptualmodelandhypotheses

2.1.Resource-basedtheoryandMSIintechnology-basednewventuresinChina

Accordingtotheresource-basedtheory,performancediffer-encesacrossfirmsaretheresultofvarianceintheirresourcesandcapabilitiesthatarerare,valuableandinimitable（Barney,1991）.Thistheoryimpliesthattooutwitcompetitors,newventuresneedtodevelopdistinctandinnovativestrategiesandprocesses.Ensley,Pearson,andAmasone（2002:

367）contendthat,becauseoftheirliabilityofnewness,“thetaskofthenewventureTMT[topmanagementteam]islargelyoneofcreativityandlearning,wheretheabilitytoproducenovelandintegratedsolutionsisanimportantattribute”forhighperformance.Newventuresareatacompetitivedisadvantageagainstlargeandestablishedfirmsintheirtraditionaldomainsbecauseoflackofresources,immatureorganizationalprocessesandlimitedoperationalexperience（Leeetal.,2001:

617）.Hence,relianceontraditionalproducts,marketingmethods,andorganizationalprocessesisboundtoleadtofailure.Thesurvivalofnewventuresdependslargelyontheintro-ductionofnewanddifferentiatedproducts,processesandmarketinginno