Firms need sufficient resources (tangible and intangible) and capabilities to build unique products due to customers' demands and choices, market competition and globalization. Despite sufficient resources, many firms cannot build new products according to the customers' preferences and market trends due to lack of marketing capabilities, lack of skilled marketing staff and lack of experienced managers. However, studies have not yet examined what types of intangible skills of marketing managers are prominent for building new products. This study examines the importance of the intangible skills; intellectual captial, financial literacy and business experience in new product development that results in sustainable competitive performance. We used a mixed-method approach; questionnaire (283) and interviews (16) for data collection and then applied structural equation modelling for testing the hypotheses. The results revealed that all the three intangible skills; intellectual captial, financial literacy and business experience significant influence new product development and sustainable competitive performance. However, considering the relative importance, financial literacy and intellectual capital are the most significant predictors of sustainable competitive performance and new product development respectively. Moreover, new product development fully mediates the path between intellectual capital and sustainable competitive performance while it partially mediates the link between financial literacy, business experience and sustainable competitive performance. Considering the importance of tangible resources, our study scrutinized that financial resources have a significant influence on new product development and sustainable competitive performance while technological resources do not play a significant role. This research recommends firms to emphasize on the improvement of intangible skills of the managers in order to build new products that result in sustainable competitive position. This study also recommends marketing managers to improve their financial skills and experience by participating in various seminars and workshops that can spur their new idea generation and new product development capabilities.
Reducing energy usage and promoting energy management practices remain hot issues in the construction sector. Construction firms are not interested to adopt energy conservation and management practices in their projects. Despite the successful integration of energy management practices in developed nations, their adaptability in developing countries, especially in Pakistan, is at a slow pace. Therefore, drivers to energy management practices need to be realized for its adoption. Based on this, the current study intends to evaluate the drivers of energy management practices adopted in the construction sector of Pakistan by using a four-stage methodology. Fuzzy Delphi method (FDM), interpretive structural modeling (ISM), and Matrice d'Impacts Croises Multiplication Appliques a un Classement (MICMAC) analysis were integrated with prioritizing essential drivers. Increased tax imposition on construction companies for energy usage and pollution contribution, promotion of investment subsidies for energy efficiency technologies, and increased enforcement of government rules and regulations regarding on-site energy management practices arose as significant drivers to adoption of energy management practices in the construction sector of Pakistan. These results will be helpful for policymakers to develop effective policies for integrating energy management practices in the construction sector. This study contributes significantly by developing a novel model of drivers affecting EMP adoption in the Pakistani construction sector. Further research might be expanded to other developing countries to validate current results.
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