Effect of Technology and Market Dynamism on the Business Performances of SMEs by Supporting Services

Park, Hun; Yoo, Jae-Young; Moon, Seong-Hee; Yoo, Hyoungsun; Lee, Ho-Shin; Kwon, Taekyoung; Hahn, Hyuk

doi:10.1177/0971721818806113

Cited by 19 publications

(27 citation statements)

References 40 publications

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“…Globalization has brought a threatening competition among organizations either business or non-business, towards the new product development. To build the new products that result in sustainable competitive performance, some managers rely on tangible resources such as adopting a new technology [2,3] accessing sufficient financial capital [3,4]), and infrastructure [5,6], etc. However, others have faith in intangible resources such as intellectual capital [7,8], networking [9,10], market knowledge [11,12], and reputation [13,14]), etc.…”

Section: Introductionmentioning

confidence: 99%

“…Indeed, both the strategies (either building new products via tangible or intangible approach) is useful. For instance, one zone of research has given weight to the tangible factors [2,3,6], while others claimed that intangible resources and capabilities are more useful in response to the globalization [15,16]. Resource-Based View (RBV) also states that a firm needs both tangible and intangible resources for its sustainable competitive position and superior performance [17].…”

Section: Introductionmentioning

confidence: 99%

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Unpacking the importance of intangible skills in new product development and sustainable business performance; strategies for marketing managers

Ali¹,

Li²,

Yang³

et al. 2020

PLoS ONE

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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.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Unpacking the importance of intangible skills in new product development and sustainable business performance; strategies for marketing managers

Ali¹,

Li²,

Yang³

et al. 2020

PLoS ONE

View full text Add to dashboard Cite

show abstract

“…According to Thomas, Narayanan, and Ramanathan [11], SMEs' technology and industry clusters play a significant role in the economy. On the other side, Park et al [12] show technology and market dynamism have a mediating-moderating effect on SMEs' business per-performance. Yun, Won, and Park [13] explained user innovation, customer innovation, and collective intelligence are open sources of innovation across the boundaries of knowledge and Technology.…”

Section: Entrepreneurship Education Using Technologymentioning

confidence: 99%

Entrepreneurship Education Through Mobile Augmented Reality for Introducing SMEs in Higher Education

Situmorang

Kustandi

Maudiarti

et al. 2021

Int. J. Interact. Mob. Technol.

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Education is a place to introduce culture and micro, small and medium enterprises in areas far from the capital. In Technology Education Study Program, Universitas Negeri Jakarta has the vision to produce educators and education personnel in the field of learning to engineer based on academic principles and ethics. Engineering new media learning through augmented reality becomes a tool for lectures introducing SMEs. For this reason, researchers collaborated with material expert lecturers, design experts, media experts, and 30 students in developing augmented reality as a new learning application. The results of the review obtained from the instructional design experts were 3.20, material expert 3,30, and media experts 3.14. Based on the test results obtained from students in the one-to-one stage of 3.55; and at the small group stage of 3.23. Based on the results of the evaluation, it can be concluded that Augmented Reality can be implemented and used to introduce SMEs to college students. Students can use this product as material strengthening in engineering learning using new media applications

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“…The growth of companies is measured using growth rates of several factors such as sales, employment, assets, capital, and profits [43,[48][49][50][51][52][53][54]. Especially, sales and employment reflect both the short-term and long-term changes of companies and can be a more objective measure of growth [43,55,56].…”

Section: Measurement Of Variablesmentioning

confidence: 99%

The Study on the Difference in Corporate Performance and Employment Outcomes According to the Results of Equity-Based Crowdfunding Investment

Cho

Park

Sung

2019

Journal of Open Innovation: Technology, Market, and Complexity

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The purpose of this study is to identify the difference in firm performance and employment growth between successful and failed capital procurement through equity-based crowdfunding. We conduct an empirical analysis using entire crowdfunding projects that attempted to raise capital through equity-based crowdfunding in South Korea in 2016. We summarize our findings as follows. Descriptive statistics show that the survival rate, sales growth rate, profitability growth, absolute employment growth, and employment growth rate of companies with successful crowdfunding are higher than those of companies with failed crowdfunding. However, from the difference analysis, we do not find a significant difference in the survival rate, sales growth rate, and profitability growth between companies with crowdfunding success and companies with crowdfunding failure. We find that the absolute employment growth and employment growth rate are significantly higher for companies that succeeded in crowdfunding projects compared to companies that did not. In this study, we find that the characteristics of these firms that are conducting or verifying new projects through equity-based crowdfunding financing are similar to those of prior studies results confirming the short-term effects of entrepreneurial activities or new business activities on economic performance and employment growth. In particular, it is very meaningful to confirm that the direct effect of employment growth is also found in start-up firms that raise capital through equity-based crowdfunding. By investigating the difference in firm performance and employment outcomes according to the results of equity-based crowdfunding investment, this study provides useful insights to investors for their efforts to validate participation in crowdfunding. Also, our study raises important policy implications for regulators in their efforts to resolve unemployment and the lack of capital problem for startups and new businesses.

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Effect of Technology and Market Dynamism on the Business Performances of SMEs by Supporting Services

Cited by 19 publications

References 40 publications

Unpacking the importance of intangible skills in new product development and sustainable business performance; strategies for marketing managers

Unpacking the importance of intangible skills in new product development and sustainable business performance; strategies for marketing managers

Entrepreneurship Education Through Mobile Augmented Reality for Introducing SMEs in Higher Education

The Study on the Difference in Corporate Performance and Employment Outcomes According to the Results of Equity-Based Crowdfunding Investment

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