The purpose of this study is to analyze the effects of strategic orientation and corporate competency on new product performance in bio venture of SMEs(small and medium enterprises). It is essential to continue develoment of new product and market success to get competitive advantage and long-term survival for company. Due to the speed change of market and technology caused by global competition, new product development(NPD) is an important. Especially, Rapid technological development, diversification of consumer needs, shorter product life cycle and numerous competition of bio industrial high-tech market are more important. The order of the market entry should be considered as an important factor for the new product performance in the market since the new product development is a response to the order of the market entry. As a consequence, the objective of this study is to analyze how the market and technology orientation as the strategic orientation impact to the new product performance, as well as absorptive capacity and network capacity as the dynamic capabilities. In addition, this study is focused on the complex empirical analysis to know whether the absorptive capacity and network capacity act as an intermediary in the market and technology orientation. In this work, we describe that the market and technology orientation can enhance the absorptive and network capacity, thus improve the new product performance while considering the effect of the order of the market entry. And then, we structured a research model and hypotheses about relationship between thes variables. So, this study examines a hypothesis of causal relationship between variables connected to market and technology orientation with absorptive capacity and network capacity.
To do this study, a questionnaire survey was conducted on bio venture of SMEs. A total of 127 respondents were studied for verifying the theory. SPSS ver. 22.0 and AMOS ver. 22.0 were used for the statistical analysis, such as test frequency, reliability, factor analysis, and structural equation modeling. A number of hypotheses were established after the study. First, the market orientation has a positive impact on new product performance. The customer and competitor orientation have all positive impact on new product performance. Second, the technology orientation has partially positive impact on new product performance. The innovativeness and proactiveness have a positive impact on new product performance. but, the risk taking has a negative impact on new product performance. Third, the market orientation has a positive impact on absorptive capacity. The customer and competitor orientation have all positive impact on absorptive capacity. Fourth, the technology orientation has partially positive impact on absorptive capacity. The innovativeness and proactiveness have a positive impact on absorptive capacity. but, the risk taking has a negative impact on absorptive capacity. Fifth, the market orientation has partially positive impact on network capacity. The customer orientation has a posivive impact on network capacity, but, the competitor orientation has a negative impact on network capacity. Sixth, the technology orientation has partially positive impact on network capacity. The innovativeness and proactiveness have a positive impact on network capacity, but, the risk taking has a negative impact on network capacity. Seventh, The absorptive capacity has a positive impact on new product performance. Eighth, The network capacity has a positive impact on new product performance. Finally, the moderating effect of the market and technology orientation have a positive impact on absorptive and network capacity. Especially, the customer orientation and innovativeness have all moderating effect on absorptive and network capacity.
This study is expected to help companies create successful management strategies and business performance by a new product developmnet(NPD) of analyzing relations between marker orientation, technology orientation and absorptive capacity, network capacity. The purpose of this study is providing practical implications to the management and right direction to the firm.