Market-based View Research Articles

Integrating resource-based and market-based views in the fisheries industry – CEO perspectives

Icelandic fisheries have been driven by access to natural resources, focused on fishing, processing, and selling products to wholesalers. The purpose of this study is to identify competitive advantage in the industry and find out how it is evolving within the perspective of resource-based view (RBV) and market-based view (MBV). In addition, this study is aimed at providing empirical evidence that can improve the understanding of competitive advantage in RBV and MBV perspectives in academic research. This study involves qualitative case studies based on in-depth elite interviews with chief executive officers (CEOs) of Icelandic fishing companies holding around 50% of the allowable national fishing quota. The findings suggest a transition from an RBV to an MBV to strengthen the competitive advantage of the industry. Key findings stress the significance of growth strategy, enhancing integration, value chain control, and brand development within the MBV perspective. Furthermore, the identified competitive advantage integrates strengths from the RBV with a market perspective for the fisheries industry. By considering these research views jointly, the understanding of companies' strategic behaviors and outcomes in a specific industry is expanded. This study offers, in addition, actionable insights and recommendation for top management and stakeholders in the Icelandic fishing industry, highlighting a shift from RBV to MBV strategies and underscoring the importance of internal resource integration for sustaining competitiveness. Moreover, the study proposes a model showing the prospective competitive advantage of the industry. Additionally, it contributes to the ongoing discussion on competitive advantage and provides valuable industry-specific insights. Limitation of this study is that it may not fully represent the entire fishing industry in Iceland and relies exclusively on the perspectives of CEOs.

Entrepreneur background, resources access and market strategy:

A better understanding of the entrepreneur’s behavior should consider multiple theoretical perspectives. In this respect, studies capable of integrate different perspectives under a holistic framework are welcome. Gathering constructs under three perspectives, entrepreneurial-based view, resource-based view and market-based view, this article presents a holistic view about how the entrepreneur background influences the firm' strategy in a traditional industry. This article adopts a holistic perspective of the entrepreneurship investigating the importance of the entrepreneurs' background in their strategic decisions, showing important insights. Through the qualitative approach there were performed eleven comparative case studies with agricultural entrepreneurs of the artisanal cachaça industry in a mining region, which production started in the XVI century and is intimately related to the historical origin of Brazil. In the majority, entrepreneurs have access to key production and market resources through family ties. This situation directly influences the product value attributes, the consumer segments focused, and the size of product lines. There is also a relation between the entrepreneurs' motivation and segmentation strategy and between their formal education and cognitive style. This article should guide the elaboration of entrepreneurial training programs, whereas the firm's strategy can be designed considering the entrepreneur background.

Market-based dynamic capabilities for MSMEs: Evidence from Indonesia's ornamental fish industry

In a dynamic and competitive market such as the ornamental fish industry, organizations need dynamic capabilities (DC) beyond routine capabilities to thrive. Although many studies have been on DC, few still include micro-enterprises as research subjects. This study aims to develop a conceptual model of Market-Based Dynamic Capabilities (MBDC) for micro, small, and medium enterprises (MSMEs) in the Indonesian ornamental fish industry. The MBDC model integrates three different perspectives of management strategy to achieve a competitive advantage: Resource-Based View (RBV), Market-Based View (MBV), and Knowledge-Based View (KBV) as antecedents of MBDC and with the moderating variable of government support. The MBDC model was analyzed based on the responses of 682 ornamental fish producers by using partial least squares structural equation modeling (PLS-SEM) and applying the embedded two-stage approach for reflective-reflective and reflective-formative types of higher-order constructs. The results show that MBDC can be established in dynamic and competitive market conditions for organizations with market-based resources, capabilities, and knowledge. Furthermore, MBDC will influence organizational performance and subsequently drive export propensity. Government support also plays a role in strengthening or weakening the formation of MBDC.

Unmasking healthcare supply chain cost drivers in the United States

PurposeThis study aims to focus on the supply chain (SC) cost drivers of healthcare industries in the USA, as SC costs have increased 40% over the last decade. The second-most significant expense, the SC, accounts for 38% of total expenses in a typical hospital, while most other industries can operate within 10% of their operating cost. This makes healthcare centers supply-chain-sensitive organizations with limited facilities for high-quality healthcare services. As the cost drivers of healthcare SC are almost unknown to managers, their jobs become more complex.Design/methodology/approachGuided by pragmatism and positivism paradigms, a cross-sectional study has been designed using quantitative and deductive approaches. Both primary and secondary data were used. Primary data were collected from health centers across the country, and secondary data were from healthcare-related databases. This study examined the attributes that explain the most significant variation in each contributing factor. With multiple regression analysis for predicting cost and Student's t-tests for the significance of contributing factors, the authors of this study examined different theories, including the market-based view and five-forces, network and transaction cost analysis.FindingsThis study revealed that supply, materials and services represent the most significant expenses in primary care. Supply-chain cost breakdown results in four critical factors: facility, inventory, information and transportation.Research limitations/implicationsThis study examined the data from primary and secondary care institutions. Tertiary and quaternary care systems were not included. Although tertiary and quaternary care systems represent a small portion of the healthcare system, future research should address the supply chain costs of highly specialized organizations.Practical implicationsThis study suggests methods that can help to improve supply chain operations in healthcare organizations worldwide.Originality/valueThis study presents an empirically proven methodology for testing the statistical significance of the primary factors contributing to healthcare supply chain costs. The results of this study may lead to positive policy changes to improve healthcare organizations' efficiency and increase access to high-quality healthcare.

DEVELOPMENT AND VALIDATION OF A MANAGERIAL MODEL TO UNDERSTAND TAXPAYERS’ ATTITUDES AND PERCEPTIONS TOWARDS TAX COMPLIANCE

This study investigates the viewpoints of Romanian taxpayers regarding the various attitudes and factors that impact their compliant or non-compliant behavior regarding their tax payments. A quantitative approach was used, and data collection was carried out by employing a research questionnaire distributed via a Google Form. The research hypotheses were examined with a sample size of 432 individual taxpayers, and quantitative data analysis was performed using PLS-SEM. The findings indicate that the association of tax compliance with a managerial approach model is suitable with the four study categories of quadrants that have been developed based on the Competence-Based View or Market-Based View approaches. This study offers a new perspective on tax compliance that can help tax authorities to develop policies, strategies, tactics, plans, and legal and commercial actions with the aim of avoiding tax noncompliance.

A Market-Based View of Progress

While the concept of progress is central to research in science, morality, politics, environmental studies, and other disciplines, a distinct concept of “progress” is absent from the management literature. And yet, managers are increasingly tasked with blending financial performance and extra-financial outcomes such as social justice, fairness and equality, environmental protection, and political responsibility. This paper responds to recent calls to connect the dots between philosophical inquiries on progress and the usual business understanding of firm or industry performance. Rather than offering a specific definition of progress or specifying normative criteria for choosing among “progressive” outcomes, we propose a market-based view of progress that focuses on the conditions under which progress is made and assesses progress through the lens of those who make it: market actors. For engaging a conversation with the philosophical debates on progress we integrate classic management theories on market actors (managers, entrepreneurs, consumers, etc.) with a multidisciplinary literature on preference and signaling theories.

An Efficiency-Frontier Based Procedure to Improve Operations Strategy

This paper intends to describe a procedural framework for identifying the operations strategy efficiency frontier and, based on this, establish initiatives to improve a given company’s competitiveness position. Each step of the framework is explained, including recommendations on how results should be interpreted. Empirical data are used to exemplify the implementation of the procedural framework. The process contributes to knowledge on the current needs, thereby supporting agile decision making. The contribution also enables dynamic mapping the competitive environment, enabling an current picture of the industry’s competitive context and supporting the establishment of emerging strategies. Two literature gaps are covered: first the lack of focus on identifying the performance frontier process within the context of operations strategy and second, the deployment of the competitive priorities in a market-based view approach.

Industry 4.0 as an Enabler of Servitization in the Plant Engineering Business: Literature Review and Development of a Conceptual Research Model

Industry 4.0 technologies and technological concepts can be considered as a starting point to strengthen the long-term competitiveness of modern enterprises. In this context, only a handful of recent studies consider the importance of professional Industry 4.0-driven servitization and, therefore, investigate the causal relationship between servitization and company performance. This paper aims to preliminary scrutinize a set of influencing factors that are required to build organizational competence in servitization. Based on the theories of market-based view (MBV), the resource-based view (RBV), and theories on dynamic capabilities (DC), the authors introduce the constructs of digitization and ICT and networks and relationships as success factors for the company´s competence in servitization. Moreover, the proposed conceptual model serves as a foundation for further multivariate analyses in the empirical environment of the plant engineering business.

Explicating the Impact of Customer Retention on Organizational Resilience: An Empirical Study of Selected Insurance Companies in Kenya

This study was designed to investigate the effect of customer retention strategies and organizational resilience among insurance companies in Kenya. More specifically, the study focused on service quality strategy, customer satisfaction strategy, product mix strategy and perceived price fairness strategy in relation to organizational resilience among insurance companies in Kenya. The study was anchored on the dynamic capability theory, equity theory and the market-based view theory. A descriptive survey and cross-sectional design was adopted for this study. The study targeted marketing managers, underwriters and claim managers and their equivalent at CIC Insurance Company within Nairobi City County, Kenya. Questionnaires were utilized in collecting the Primary data. Descriptive statistics was used in describing the sample data which was analyzed using the Statistical Package for Social Sciences (SPSS) and presented through percentages, means, standard deviations and frequencies. Inferential statistics covering regression analysis was performed to come up with relevant inferences. The study findings indicated that service quality strategy, customer satisfaction strategy, product mix strategy and perceived price fairness strategy affected organizational resilience to a great extent. Customer retention strategy was found to have a higher impact on organizational market share, growth and profitability. Similarly, customer retention strategies were found to enhance an organization’s market share whereby people generally feel as associates with the insurance companies, gain trust with the insurance company and definitely making them to continue seeking services with the organization. On the other hand, customer retention strategies of effectiveness in cost/pricing structure of brands in the organization were found to aid in attracting new customers who open various cost structured accounts designed by the organization. The study recommends that the insurance companies should provide quality services as it is the best way of retaining the existing customers in the firm and this in turn yields greater commitment and loyalty of the customers

Enhancing the export activities of small and medium-sized enterprises in emerging markets

PurposeThis study aims to examine a conceptual integrated framework for small- and medium-sized enterprises’ (SMEs) export performance that comprises all potential export determinants and inhibitors. This study also incorporates and examines the potential mediators of proactiveness (business strategy), innovativeness (innovation strategy) and export marketing strategy.Design/methodology/approachHis research is based on the contingency theory, resource-based and market-based view, and it provides an integrated model about the research problem. The primary data are collected through direct survey amongst active SME exporters, and three main approaches of descriptive statistics, confirmatory factor analysis and structural equation modelling are applied for data analysis.FindingsThe results show significant effects of various internal and external firms’ determinants on their export performance in Qatar. Two mediators, proactiveness (business strategy) and innovativeness (innovation strategy), have key roles in enhancing SMEs’ export as well. The final research findings have significant implications for understanding all key drivers of SME export in Qatar, and it helps policymakers, regulators and service providers to improve the current SME ecosystem and their services to SMEs. Finally, the results of this study can be extended to other emerging markets with similar economic and legal structures.Originality/valueMany obstacles discourage SMEs to move internationally, especially in emerging markets. This study focuses on the capacity building to enhance SME export activities in an emerging market. Even though the latest literature in the area of export performance has focused on firms from emerging economies, studies in this area are still limited. Earlier research in this area has mostly focused solely on the determinants of export performance from either internal factors, external factors or both without using adequately potential mediating factors, which could affect export performance.

Improving firm performance through Competitive Advantage, differentiation strategy and cost leadership: A Literature Review

This study aims to examine previous research in order to determine the role of competitive advantage as a variable that mediates the effect of differentiation strategy and cost leadership strategy on firm performance. This study applies various theories, namely resource-based-view (RBV) theory, and Market-based-view (MBV) theory to explain the relationship between variables. As a literature study article, this article contributes to developing a conceptual framework on how to combine the two perspectives of generic strategy and competitive different advantages. This article has importance for management and further research considering that not many previous studies have used the theoretical framework to test similar research models. This study has limitations in obtaining research that examines competitive advantage in research with firm performance. This research introduces a new framework that illustrates the contribution of competitive advantage to company performance through the implementation of a differentiation strategy and cost leadership strategy.

Developing a Conceptual Model of Implementation of Business Functions Integration in the Internal Business Process Performance

The research used in assessing the performance of internal business processes in this study uses strategic management theory and operations management through the Resource-Based View approach, Market-Based View aspects and Organization Culture. The Banking Industry has to think about the business processes and workflows to empower employees and what they need to do to stay competitive in the face of rapidly changing competition. The method used in this research is a Literature Review with a descriptive approach that will produce a conceptual model. The resulting conceptual model development was adopted from DeLone and McLean's Model about the success of the Information System which was combined with the input variables studied to produce an implementation model for the integration of business functions to improve the performance of internal business processes.

Value Chain Support Activities and Performance of Sheep Production Projects in Nyandarua County, Kenya

As Kenya grapples with meat deficit and reduced livestock productivity in the ASALs, sheep production in the high rainfall areas offers an opportunity to bridge the gap. Sheep and goats have many advantages over large ruminants for most farmers, including lower capital investment requirement for flock establishment, lower feed consumptions and thus lower food-related costs, high fecundity and thus faster flock building, and are easier to manage. However, sheep production still faces a myriad of challenges that result in low productivity and ultimately low returns to farmers. Projects have been designed and implemented to improve sheep productivity but with little impact. The performance of such projects in terms of timeliness, cost, budget compliance, and quality has been questioned. This research aims to assess how various value chain support activities influence the performance of sheep production projects in Nyandarua County, Kenya. Specifically, the study sought to examine the influence of firm infrastructure assess the influence of human resource management, explore the influence of technology development, and evaluate the influence of procurement on the performance of sheep production projects in Nyandarua County, Kenya. Value chain support activities are the independent variable while the dependent variable is the performance of sheep production projects. The theories that support this study are Capability-Based View, Knowledge-Based View, Resource-based view, and Market-Based View. Descriptive design was used to conduct the study whose population was drawn from sheep production value chain stakeholders in the county, whose population is estimated at 596, 268. A sample size of 271 stakeholders were reached. Qualitative data was analyzed using content analysis while descriptive statistics were used to analyze quantitative data. Descriptive and inferential statistics were used in analyzing the data. Results were presented in form of tables, percentages, bar charts, and graphs. The study found that effective leadership styles has a positive influence on employees’ motivation and morale and contribute positively to organizational and sheep production projects performance. At the same time, human capital planning, acquisition, and development strategies have a more positive influence on organizational and sheep production projects performance than traditional strategies. Further, information technology contributes to the successful introduction of new products or services, improved operational processes and provides guidance to decision making on project implementation and thus affect positively project performance. Moreover, respondents approved that, procurement is a strategic function in that it not only contributes to costs reduction but also to the achievement of budgetary compliance in sheep production projects. It can, therefore, be concluded that firm infrastructure, human resource management, technological development, and procurement are all key success factors in the increased performance of sheep production projects. As part of the recommendation, players in the sheep production value chain should consider adequately investing in firm infrastructure, human resource management, technological development, and procurement. They should also be guided by effective leadership styles that will yield the desired outcome through a positive influence on employees' motivation and morale while exercising human capital planning, acquisition, and development strategies to enhance organizational performance.

What's in a name? Challenging the commodification of pollination through the diverse economies of 'Bee Cities'

One million species are threatened with extinction globally,including more than half of the native bee species in North America. In Canada,as of July 2020, 42 municipalities have signed a resolution to commit to the standards of the Bee City Canada program which includes creating and enhancing pollinator habitat, along with celebrating and raising awareness about pollinators in their communities. Our central argument is that the commodification of pollination has detrimental effects on people, pollinators,and ecosystems, and that a diverse economies framework is one conceptual model that can help shift our perspective. Within the 'save the bees' narrative, a capitalocentric, unidimensional image of pollination persists, driven by particular forms of market power and domination. Well-intentioned individuals and groups may be constrained by industry-dominated messaging that limits their understanding of appropriate interventions. Meanwhile, Bee City Canada offers municipalities the opportunity to engage in conservation efforts by starting <i>where they are</i> and building on a network of Bee Cities across the country. We conducted a collective case study involving in-depth interviews with members of Ontario Bee Cities. Our thematic interpretive analysis shows how a diverse economies framework can help us to understand the value and contributions of this initiative in previously undervalued and under-recognized ways and how they help to advance a whole-of-community approach. It is only through decentering the hegemonic market-based view of pollination that true conservation of bee diversity, and associated pollination services, can be prioritized. Our findings show that Bee Cities can animate a vibrant political ecology through a collective municipal identity, by centering bees (and other pollinators by proxy).

Toward a ‘We’-Mode Team Production Theory of the Firm: A Confucian Approach

Blair and Stout’s (1999) team production model of the corporation (TPM) has become an attractive alternative to principal-agent models of the corporation. TPM literature has been developed to address opportunism, that is, problems of exploiting one’s position within an organization to acquire a benefit without giving anything (e.g., firm-specific investments) in exchange. The problems of team production have prompted a revival of the concept of authority within firms. We maintain, however, that the prevailing conception of authority in the TPM literature is market-based and therefore fails to reflect some powerful ways to address team production problems through a properly thick concept of authority. In particular, we maintain that Blair and Stout’s TPM model does not adequately encourage team-specific commitments and fails to acknowledge the full prescriptive and descriptive potential of the TPM paradigm. We offer an alternative conception of authority in team production: a Confucian communitarian account of the internal workings of a firm, including the production team and the hierarchy endowed with the authority to govern it. On the standard market-based view of the team and its attendant conception of authority, each team member uses the team and its authority as an instrument for advancing her own personal interests. On our Confucian alternative, team production members see the team itself as inherently valuable and create team-specific commitments; they act for the team’s sake, and not merely for their own.

Key determinants of SMEs’ export performance: a resource-based view and contingency theory approach using potential mediators

PurposeVarious barriers discourage small and medium-sized enterprises (SMEs) from entering or expanding their export activities in the international markets, especially SMEs in emerging markets. The purpose of this study is to look at capacity building to accelerate SMEs’ export performance.Design/methodology/approachThis study draws on contingency theory and takes a resource-based and market-based view to provide a holistic understanding of the issue. This study uses primary data collected via extensive surveys from active SMEs in three main industrial regions in Vietnam to undertake confirmatory factor analysis and structural equation modeling for quantitative analysis.FindingsThe results confirm and show the significant effects of various determinants on firms’ export performance. These research findings have scientific contribution and significant implications by understanding the effective internal and external export drivers and mediators in an emerging market and enhancing SMEs’ export performance.Practical implicationsThis study helps SMEs to improve their export performance by systemizing their decision-making in export activities, improving main export drivers highlighted in this study and developing required training programs for their teams. The outcomes also helps policymakers and regulators to improve the current SME ecosystem in Vietnam through training programs, improving policies, facilitating trades, providing more government assistance etc. The results of this study can be extended to other emerging markets with a similar economic structure and legal system.Originality/valueGiven the need for more work on export performance, this paper develops and tests a holistic conceptual framework that accounts for all aspects of export drivers, and provides a more comprehensive model for examining SMEs’ export drivers. This theoretical framework also incorporates three potential mediators (i.e. innovation strategy, export marketing strategy and business strategy) to investigate the effect of internal and external factors on export performance, highlighting the importance of the mediating effects on SMEs in achieving growth and competing in the international arena.

Komparativni finansijski sistemi - implikacije za ekonomski rast

The main goal of the research in this paper is to, starting from the role that financial system has in operating of every market economy, analyze the strengths and failures of a bank-based and market-based financial system when performing basic economic functions. In order to achieve the defined goal, a qualitative research was conducted. In this sense, an innovative interpretation of the relevant scientific literature was made using descriptive and comparative analysis methods. The paper examines four approaches that represent a critical analysis of the role and importance of banks and the securities market - bankbased, market-based, financial services and legal-based approach. Emphasizing the positive role of banks, the bank-based approach highlights the comparative failures of the securities market. On the other hand, the market-based view highlights the advantages of the securities market, while at the same time emphasizing the failures of banks in performing their basic functions. However, the focus of a financial services approach is not the debate over whether a better financial system is based on banks or the securities market, but the extent, quality and availability of financial services is important. Finally, the legal-based approach, which represents addition to the financial services approach, emphasizes compliance with the provisions of financial contracts and the protection of the rights of participants in financial transactions. Accordingly, the key research findings relate to identifying assumptions that contribute to the better functioning of the financial system and to pointing out that the functional compatibility of banks and securities markets contributes to their complementarity and more efficient transfer of funds from savings towards investment entities.

Financial structure and economic growth nexus revisited

This paper empirically reassesses the long-debated relationship between the financial structure and economic growth. Specifically, we examine whether the effect of financial structure on economic growth is affected by the occurrence of banking crisis and economic volatility, the level of financial development, and the financial structure disproportion. We employ the generalized method of moments estimation to a panel of 99 countries over the 1971–2015 period. Although the main result supports the market-based view, the positive effect of the securities market development relative to the banking system weakens significantly if the financial structure is unbalanced. Our findings are robust to a variety of sensitivity checks, including different measures of financial structure, time periods, and model specifications.

Marketing Strategy For Tobacco And Its Industrial Products To Faceglobal Market And Anti-Tobacco Campaign

During the last decade, tobacco was sharply highlighted by the international community. In global trade, the tobacco business and its industrial products were under pressure from the world through the world health organization that formulates the framework convention on tobacco control (FCTC). The conventions of FCTC aim to control tobacco and its industrial products in the global market, because they can be detrimental to health. This paper aims to review the pattern of tobacco trade in a global market that tends to get discriminated. The method of analysis employed by the author is reviewing the existing journals and conducting observations and discussions related to the problem of tobacco in the global trading. The facts in tobacco trade show that FCTC regulations that have been widely adopted by countries in the world are often tangential to global trade regulations enacted in almost all over the world. Tobacco and its industrial products are subject to discriminatory treatment in global trade. This condition has triggered many parties to trade tobacco illegally, given the need of world tobacco despite pressure always rises about 2% every year along with the increase of world population number. In the business administration review, an objective strategy is needed to address the challenges inherent in the tobacco business. The Paradigm of Resources Based View (RBV) and Market Based View (MBV) in the tobacco business need to be integrated into the internal and external factors of the business, thus the tobacco business can be maintained. A country producing tobacco (for example: Indonesia), must supportits citizen to exist at their business, because they get benefit at tobacco business. The country must safeguard and fight for tobacco to global market without having to experience product discrimination.

Positioning at the Olympic Winter Games

PurposeSince the 1990s, the International Olympic Committee has offered nations more medal-winning opportunities at every Winter Games. Meanwhile, many countries are constrained by their limited financial resources to target sports strategically. The purpose of this paper is to examine the targeting approaches to Olympic Winter Sports of National Sports Agencies (NSAs), and to identify the factors they assess in the decision-making process.Design/methodology/approachThe data were collected through semi-structured interviews with 11 decision makers of medal-winning NSAs at the 2014 Sochi Games. The data were then analysed with reference to strategic management in an approach which combines a resource-based view (RBV) with a market-based view (MBV) to build a competitive advantage.FindingsThe results show that NSAs, like firms, combine an internal analysis that reflects the RBV on resources and capabilities (e.g. athletes’ performance per sport and sport-specific elite sport system), with an external analysis of the competitive environment that reflects an MBV (e.g. sport’s medal market size and intensity of competition at Games) to target sports. Using this information, two phases were distinguished: first, the target sports are identified and finance is prioritised accordingly; second, the allocation of the nation’s resources is constantly reviewed in order to optimise it.Research limitations/implicationsEven though social desirability bias in the responses could not be fully excluded, the findings can help policy-makers to distinguish between the internal and external factors identified in this study, and to make more strategic decisions by combining RBV and MBV approaches to build-up their nation’s competitive advantage.Originality/valueThis paper models the targeting strategies of NSAs during an Olympic cycle by introducing the competitive positioning of firms to sports management.