scholarly journals Accountability via social and financial performance of the hospitality sector: the role of market orientation

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Soheil Kazemian ◽  
Hadrian Geri Djajadikerta ◽  
Saiydi Mat Roni ◽  
Terri Trireksani ◽  
Zuraidah Mohd-Sanusi
Keyword(s):  
Financial Performance ◽  
Market Orientation ◽  
Customer Orientation ◽  
Social Performance ◽  
Three Dimensions ◽  
Content Type ◽  
Top Managers ◽  
The Social ◽  
Competitor Orientation ◽  
Hospitality Sector

Purpose This study aims to examine the three dimensions of market orientation, namely, customer orientation, competitor orientation and inter-function coordination, which influence the accountability in the financial and social performance of tourism operators in large touristic cities. Design/methodology/approach In total, 95 usable questionnaires as the required data were collected from the top managers of four- and five-star hotels in Iran. Findings Partial least squares (PLS) results confirm that customer orientation and inter-function coordination influence both the financial and social performance of the hospitality sector yet reveal that competitor orientation has no significant relationship with social performance. Research limitations/implications These findings not only highlight the compatibility of PLS with various forms of statistical analyzes but also furthers the current understanding of hospitality networks in megacity economies, where literature are scarce. Practical implications The findings of this study can help policymakers, tourism associations and practitioners enhance the accountability and sustainable financial and social performance of the hospitality industry in megacities. This study proposes some unique measurements for the social and financial performance of the hospitality sectors. Originality/value The paper states some new measurements for the social performance of the hospitality sectors. In addition, measuring the impacts of market orientation on the financial and social aspects of hotels is totally unique.

scholarly journals Corporate governance, market orientation and performance of Iran’s upscale hotels

2021 ◽  
pp. 146735842110036
Author(s):  
Soheil Kazemian ◽  
Hadrian Geri Djajadikerta ◽  
Jamaliah Said ◽  
Saiyidi Mat Roni ◽  
Terri Trireksani ◽  
...  
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Market Orientation ◽  
Structural Equation ◽  
Customer Orientation ◽  
Social Performance ◽  
Three Dimensions ◽  
Equation Modelling ◽  
Competitor Orientation ◽  
And Performance

Market orientation has been known as an efficient managerial tool to assist in sustaining the performance of organisations. Market orientation has three dimensions, namely customer orientation, competitor orientation and inter-function coordination. This paper evaluates how corporate governance influences the three dimensions of market orientation within Iran's upscale hotels. The impacts of the three dimensions of market orientation on the hotels' social and financial performance are also examined to determine if market orientation mediates the relationships between corporate governance and performance. Partial least squares structural equation modelling (PLS-SEM) is used to analyse the survey data collected from the executives of four- and five-star hotels in Mashhad, Iran. Results show that corporate governance positively influences the three dimensions of market orientation, while overall market orientation influences financial and social performance. Specifically, customer orientation and inter-function coordination significantly reinforce such mediation, whereas the influence of competitor orientation is limited to financial performance.

Role of market orientation in sustainable performance

Humanomics ◽  
2016 ◽  
Vol 32 (3) ◽  
pp. 352-375 ◽  
Author(s):  
Soheil Kazemian ◽  
Rashidah Abdul Rahman ◽  
Zuraidah Mohd Sanusi ◽  
Abideen A. Adewale
Keyword(s):  
Market Orientation ◽  
Structural Equation ◽  
Customer Orientation ◽  
Partial Least Square ◽  
Least Square ◽  
Three Dimensions ◽  
Equation Modeling ◽  
Future Research ◽  
Content Type ◽  
Competitor Orientation

Purpose Without prejudice to the efficacy of other poverty alleviation mechanisms, micro-financing arguably enjoys relative prominence. However, notwithstanding the remarkable loan repayment rate that the microfinance firms report, they still face the challenge of sustainability. The paper aims to provide insights into how three dimensions of market orientation, namely, customer orientation, competitor orientation and inter-function coordination, affect the two aspects of the sustainability of microfinance institutions (MFIs; management and financial). Design/methodology/approach To achieve this goal, this study focuses on Amanah Ikhtiar Malaysia (AIM), a leading microfinance provider which is also the largest MFI in South East Asia. Data elicited via a survey questionnaire administered on 190 management staff of AIM across Malaysia are subjected to statistical analysis via the partial least square-structural equation modeling using SmartPLS 2.0. Findings The results provide empirical evidences that indicate that management sustainability is significantly influenced by customer orientation and inter-function coordination. However, only customer orientation affects the financial sustainability of AIM. Nevertheless, competitor orientation has non-significant effects on both aspects of sustainability of AIM. Research limitations/implications The result of the paper contributes to the literature in understanding the long-term sustainable financial and social performance-based market orientation. Originality/value Findings are useful for policy makers, management of MFIs, practitioners and academics to enhance microfinance system. Managerial implications, limitation of the study and suggestions for future research are also included.

Market orientation and capacity for change in higher education performance in Indonesia

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Badri Munir Sukoco ◽  
Zuyyinna Choirunnisa ◽  
Mohammad Fakhruddin Mudzakkir ◽  
Reza Ashari Nasution ◽  
Ely Susanto ◽  
...  
Keyword(s):  
Market Orientation ◽  
Learning Process ◽  
Customer Orientation ◽  
Three Dimensions ◽  
Organisational Performance ◽  
Content Type ◽  
Competitor Orientation ◽  
Education Performance ◽  
The Impact ◽  
Capacity For Change

Purpose Changes are inevitable and organisations should develop their organisational capacity for change (OCC) to survive. This paper aims to test the effect of market orientation on OCC (learning, process and context), as well as the impact of OCC on organisational performance. Design/methodology/approach This research used a survey of 314 heads of study programmes in Indonesia’s highest-ranked universities to test the proposed hypotheses. Findings The results of this research demonstrate that OCC is determined by customer orientation and cross-functional coordination (market orientation), while competitor orientation influences the learning dimension of OCC. Moreover, only the context dimension of OCC positively influences organisational performance in addition to serving as a mediator between market orientation (customer orientation and cross-functional coordination) and organisational performance, whereas competitor orientation positively influences organisational performance. Originality/value This paper empirically tested the three dimensions of OCC (learning, process and context) that had previously been discussed only conceptually. Furthermore, the organisation should be market-oriented to possess the capacity for change. Finally, the paper proposes and demonstrates that organisational context (culture) plays a significant role in OCC in developing organisational performance.

Managerial networks and strategic orientation in SMEs

2014 ◽  
Vol 7 (4) ◽  
pp. 376-397 ◽  
Author(s):  
Debadutta Kumar Panda
Keyword(s):  
Customer Orientation ◽  
External Validation ◽  
Strategic Orientation ◽  
Content Type ◽  
Subject Line ◽  
Top Managers ◽  
Study Results ◽  
Competitor Orientation ◽  
Functional Orientation ◽  
Technology Orientation

Purpose – The purpose of this paper is to igvestigate how strategic orientation influences managerial networks in Indian SMEs and the role competitive intensity as a moderator. Design/methodology/approach – Structured pre-tested questionnaire was employed to gather information from 147 top managers from Indian SMEs. Statically models were used for internal and external validation, hypothesis testing and data analysis. Findings – The study results support the positive significant influence of strategic orientation including market orientation (customer orientation, competitor orientation and inter-functional orientation), technology orientation and entrepreneurship orientation on managerial network (business and political networks) building in Indian SMEs. Originality/value – This study is one of the few studies on the subject line in Indian context, and among the first few studies in the Indian SME sector.

Market orientation heterogeneity and new joint venture formation announcements: creating value for parent firms

2020 ◽  
Vol 13 (3) ◽  
pp. 433-451
Author(s):  
Vivien E. Jancenelle ◽  
Shuqin Wei ◽  
Tyson Ang
Keyword(s):  
Market Orientation ◽  
Joint Venture ◽  
Customer Orientation ◽  
Annual Reports ◽  
Computer Assisted ◽  
Content Type ◽  
Competitor Orientation ◽  
Study Methodology ◽  
Positive Effect

PurposeJoint ventures (JVs) are known to create value for their parent firms, in part due to the mutually beneficial sharing of information that occurs at the JV level. Market orientation (MO) is a well-documented strategic orientation that has received little attention in the JV literature, despite considerable research suggesting that MO has a positive effect on performance. This study posits that the MO skills contributed to a new JV by parent firms are likely to play a central role in a shareholder's assessment of the potential for success of a newly announced JV, thereby triggering changes in market value for parent firms.Design/methodology/approachComputer-Assisted-Text-Analysis (CATA) is used to calculate MO heterogeneity from annual reports, and event-study methodology is used to assess parent firm performance. The authors rely on a US sample of 82 public JV parents involved in 41 new equally-weighted JV formation announcements.FindingsThe authors find that heterogeneity on MO's behavioral components (customer orientation, competitor orientation, and coordination) is negatively related to parent performance, while heterogeneity on MO's profitability component is positively related to parent performance. However, the effect of MO's long-term focus heterogeneity on parent performance was not supported.Originality/valueThe results suggest that the benefits of information sharing in partnerships may be of a nuanced nature when it comes to MO. Although heterogeneity in profitability inclination created value for parent firms announcing a new JV; heterogeneity in customer, competitor and coordination market orientations did not appear to be rewarded by shareholders.

How manufacturer market orientation influences B2B customer satisfaction and retention: empirical investigation of the three market orientation components

2015 ◽  
Vol 30 (2) ◽  
pp. 182-193 ◽  
Author(s):  
Chiquan Guo ◽  
Yong Wang
Keyword(s):  
Customer Satisfaction ◽  
Market Orientation ◽  
Customer Relationship Management ◽  
Customer Orientation ◽  
Relationship Management ◽  
Customer Retention ◽  
Customer Relationship ◽  
Content Type ◽  
Relationship Outcomes ◽  
Competitor Orientation

Purpose – This paper aims to examine how the three market orientation components (customer orientation, competitor orientation and interfunctional coordination) influence industrial manufacturers’ customer relationship management outcomes in a business-to-business (B2B) context. Design/methodology/approach – In linking market orientation components and their relationship outcomes, the authors examined the moderating effect of interfunctional coordination. The model was tested using data collected from 279 manufacturing firms in the USA. Findings – While customer orientation and competitor orientation both influence customer relationship outcomes, interfunctional coordination does not. However, interfunctional coordination lessens the positive relationships between customer orientation and customer retention as well as between competitor orientation and customer satisfaction. Although competitor orientation has a slightly stronger impact on customer satisfaction than customer orientation does, it only has an indirect relationship with customer retention through customer satisfaction. Originality/value – The findings illustrated the effects of the three components of market orientation on customer relationship outcomes within manufacturing-centered firms, and provided managerial implications to industrial manufacturers on market orientation implementation strategies in regard to successful B2B customer relationship management.

scholarly journals The influence of market orientation on innovation strategies

2016 ◽  
Vol 26 (1) ◽  
pp. 72-90 ◽  
Author(s):  
Alexander Newman ◽  
Daniel Prajogo ◽  
Andrew Atherton
Keyword(s):  
Market Orientation ◽  
Service Sector ◽  
Family Firms ◽  
Customer Orientation ◽  
Cross Sectional ◽  
Content Type ◽  
Competitor Orientation ◽  
Innovation Strategies ◽  
Cross Sectional Design ◽  
Exploratory Innovation

Purpose – The purpose of this paper is to examine the effects of market orientation on exploratory and exploitative innovation, and the moderating effects of family ownership on these relationships. Design/methodology/approach – This study utilizes multi-group path analysis and confirmatory factor analysis in LISREL on data from 228 firms in the Australian service sector. Findings – This study establishes that both customer and competitor innovation are positively related to exploitative and exploratory innovation. However, customer orientation does not lead to significantly stronger effects on exploitative innovation than on exploratory innovation, and competitor orientation does not lead to significantly stronger effects on exploratory innovation than on exploitative innovation. In addition, the study found that the relationship between customer orientation and exploratory innovation was stronger for family firms, while the relationships between competitor orientation and both exploratory and exploitative innovation were stronger for non-family firms. Research limitations/implications – The cross-sectional design is one weakness of this study. In addition, as firms in the present study came from the service sector the generalizability of the findings to other sectors of the economy need to be determined. Practical implications – These findings of this study highlight the need for managers to build a strong market orientation in order to promote innovation, and consider the effects of ownership structure on innovation strategies. Originality/value – This study is the first to measure the relative influence of customer and competitor orientation on a firm’s use of exploitative and exploratory innovation strategies.

scholarly journals A Study on the Effects of Entrepreneurial Orientation and Learning Orientation on Financial Performance: Focusing on Mediating Effects of Market Orientation

2020 ◽  
Vol 12 (11) ◽  
pp. 4594 ◽  
Author(s):  
Yun Hee Cho ◽  
Joo-Heon Lee
Keyword(s):  
Financial Performance ◽  
Market Orientation ◽  
Entrepreneurial Orientation ◽  
Customer Orientation ◽  
Mediating Effect ◽  
Learning Orientation ◽  
Mediating Effects ◽  
Mediation Effects ◽  
Competitor Orientation ◽  
The Relationship

The primary purpose of this article was to examine the mediating effects of market orientation on the relationship between entrepreneurial orientation and financial performance. The mediation effects of market orientation on the relationship between learning orientation and financial performance were also investigated. One hundred and seventy-four valid survey questionnaires were collected from Korean entrepreneurs, who were searching for angel investments or business consultants for growth. Our unique research design allowed us to test the mediating effects of the dimensions of market orientation between the dimensions of entrepreneurial orientation and financial performance. The most important research results are as follows. First, the innovative-proactiveness dimension of entrepreneurial orientation has a statistically significant effect on financial performance, but the risk-taking propensity dimension does not significantly affect financial performance. Second, the customer orientation dimension of market orientation fully mediates the relationships between innovative-proactiveness and financial performance. Second, the competitor orientation dimension of market orientation shows a partial mediating effect on the relationship between innovative-proactiveness and financial performance. Third, learning orientation does not significantly affect financial performance. To increase financial performance, growth-seeking entrepreneurs need to improve customer orientation, competitor orientation, and innovative-proactiveness.

Market orientation, performance and the mediating role of innovation in Indonesian SMEs

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Clare D'souza ◽  
Marthin Nanere ◽  
Malliga Marimuthu ◽  
Mokhamad Arwani ◽  
Ninh Nguyen
Keyword(s):  
Firm Performance ◽  
Market Orientation ◽  
Structural Equation ◽  
Customer Orientation ◽  
Point Of View ◽  
Theoretical Point ◽  
Content Type ◽  
Mediating Role ◽  
Competitor Orientation

PurposeDespite the theoretical advancements of market orientation and firm performance, there is a paucity of research regarding SMEs in Indonesia. Customer and competitor orientation were examined as two distinct constructs as per the literature, as it has been questioned for its robustness. They have been used synonymously, even though customer orientation is operationalised as a component of a market orientation construct. There is support for the argument from a theoretical point of view to keep customer orientation and competitor orientation separate. The objective of this research was to empirically test market orientation concepts on firm performance and assessing customer and competitor orientation separately. Furthermore, it also tests whether innovation plays a mediating role.Design/methodology/approachA sample of 309 small and medium-sized firms was found eligible for this study. Structural Equation Modelling was used to analyze the data. A multi-industry sample of firms was used to strengthen the generalisability of the results. The sample was acquired from two databases of SMEs directory in Kudus and Pati, East Java Indonesia, participants were randomly selected.FindingsThe findings show that innovation mediates the relationship between competitor orientation and firm performance, while competitor orientation had no significant relationship with firm performance. Customer orientation was found to positively influence firm performance.Originality/valueThe role of innovation as a mediator within SMEs in a developing country opens up avenues for further research among other developing countries. By examining both the concepts of customer and competitor orientation separately and establishing relationships, we validate support for this argument both from a methodological and theoretical point of view.

scholarly journals Women’s driving decree, market orientation, and company performance in Saudi Arabia

2022 ◽  
Vol 9 (1) ◽  
pp. 170-177
Author(s):  
Rim Zouaoui ◽  
◽  
Marwa Zouaoui ◽  
◽  
Keyword(s):  
Saudi Arabia ◽  
Market Orientation ◽  
Structural Equation ◽  
Customer Orientation ◽  
Three Dimensions ◽  
Company Performance ◽  
Royal Decree ◽  
Before And After ◽  
Competitor Orientation ◽  
The Relationship

This paper investigated whether the royal decree of September 2017 allowing women to drive affects the relationship between market orientation and firm performance of official car dealerships in Saudi Arabia. In the empirical investigation, a quantitative method was used, focusing on car dealership managers and executives. The hypotheses were tested using structural equation modelling with data collected from 94 questioned. Market orientation dimensions that were investigated included customer orientation, competitor orientation, and inter-functional coordination. The results indicate a positive effect of market orientation on company performance in Saudi Arabia over two periods, before and after the application of the decree. Before the royal decree, only two of the three dimensions of market orientation affected company performance, customer orientation, and inter-functional coordination. After the decree, all three dimensions of market orientation affected company performance. This proves that political decision has intensified competition in this market. Our results underlined the non-necessity of equality and the strength of the three components belonging to the market orientation on performance. Yet, our investigation is unprecedented having sought to resolve this classic relationship in a specific context.

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