Market-oriented culture, knowledge-related resources, reputational assets and superior performance: a conceptual framework

Abstract

In the last 10 years new theories of superior business performance have emerged from the work of marketing, strategy, organizational theory and economics scholars. These new perspectives, known under the labels of resource-based view of the firm, competence-based competition and evolutionary theory, share a special focus on a firm's rare, valuable and difficult-to-imitate resources (e.g. intangible assets and organizational capabilities) as the key determinants of superior business performance. Based upon this work and developments in the marketing strategy literature, in this study we develop a conceptual model which links these different explanations of superior performance and renews original ideas in terms of the drivers of success and superior performance. Competition is approached as a dynamic phenomenon and, therefore, firm success is not permanent. Innovations are a common way in which the competitive advantages of other firms are offset or eliminated. In fact, the role of knowledge-related resources is highlighted in the conceptual model as a key determinant in the continuous creation of competitive advantages in an increasingly competitive environment.