Interaction among responsive/proactive market orientation, innovational resources and financial performance
Milfelner, Borut ; Snoj, Boris
Present contribution deals with relationship between market orientation, innovation resources and financial performance. The main research was implemented on the sample of 3000 randomly selected ...organizations selected from the population of 3475 organizations in Slovenia with more than 20 employees. The results of research reveal that RMO's impact on innovativeness as the element of organizational culture is positive but stronger than the impact of PMO. However PMO proved to have significant positive influence on capacity to innovate as the ability to successfully accept and implement new products. Whilst innovativeness solely by itself does not have direct influence on financial performance, we confirmed the impact of organizational capacity to innovate on financial performance. The main limitation of the study is that we considered only the relationship among four marketing resources, and organizational performance. Positive relationships among researched concepts indicate that managers should foremost devote their energy to the development of the dimensions of marketing culture such as both types of market orientation and innovativeness, which are among the necessary preconditions for the innovative behaviour of organizations and their financial success. To date, no study has examined the relationship among responsive market orientation, proactive market orientation, and innovation resources in terms of their impact on financial performance in transitional countries.
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