What comes first: the market or the product? Strategic orientations among start-ups in the Øresund Region
(2016) BUSN39 20161Department of Business Administration
- Abstract
- Market orientation and product orientation propose opposite approaches towards innovation and, thus, value-creation. This paper investigates the market-product orientation debate in the context of entrepreneurial start-ups. By studying strategic orientation from the perspective of start-up entrepreneurs, the research contributes to orientation theory, which has largely concentrated on processes found in mature and large companies. Data is collected from start-ups operating in the Øresund Region, representing a renowned European network of start-up hubs. A qualitative research, the investigation is based on a series of in-depth interviews with start-up entrepreneurs. The study shows that start-ups adopt a variety of strategic orientations;... (More)
- Market orientation and product orientation propose opposite approaches towards innovation and, thus, value-creation. This paper investigates the market-product orientation debate in the context of entrepreneurial start-ups. By studying strategic orientation from the perspective of start-up entrepreneurs, the research contributes to orientation theory, which has largely concentrated on processes found in mature and large companies. Data is collected from start-ups operating in the Øresund Region, representing a renowned European network of start-up hubs. A qualitative research, the investigation is based on a series of in-depth interviews with start-up entrepreneurs. The study shows that start-ups adopt a variety of strategic orientations; at the same time, however, elements of market orientation are central to companies in this nascent phase. Entrepreneurial start-ups demonstrate a commitment to value-creation, and understanding market demand is, therefore, a crucial activity. While orientation theory proposes a progression from strategic orientation to value-creation, by way of innovation; start-up entrepreneurs conceive innovation as an incidental process. Value-creation does not necessarily have to involve innovation. Findings, then, suggest that strategic orientation takes a different form in start-up companies compared to major theoretical conceptualisations. Predominant orientation theory concentrates on activities internal to organisations, such as inter-departmental communication and company culture. In their application of strategic orientations, however, entrepreneurial start-ups are more concerned with negotiating the external environment, especially exploring needs and refining solutions. Finally, as start-ups gain economic importance, this paper argues that through strategic orientation, the field of marketing has a direct impact on value-creation. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/8878185
- author
- Muscat, Nathanael LU and Ivanov, Ivaylo LU
- supervisor
- organization
- course
- BUSN39 20161
- year
- 2016
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Market Orientation, Product Orientation, Innovation, Start-ups
- language
- English
- id
- 8878185
- date added to LUP
- 2016-06-09 14:56:44
- date last changed
- 2016-06-09 14:56:44
@misc{8878185,
abstract = {{Market orientation and product orientation propose opposite approaches towards innovation and, thus, value-creation. This paper investigates the market-product orientation debate in the context of entrepreneurial start-ups. By studying strategic orientation from the perspective of start-up entrepreneurs, the research contributes to orientation theory, which has largely concentrated on processes found in mature and large companies. Data is collected from start-ups operating in the Øresund Region, representing a renowned European network of start-up hubs. A qualitative research, the investigation is based on a series of in-depth interviews with start-up entrepreneurs. The study shows that start-ups adopt a variety of strategic orientations; at the same time, however, elements of market orientation are central to companies in this nascent phase. Entrepreneurial start-ups demonstrate a commitment to value-creation, and understanding market demand is, therefore, a crucial activity. While orientation theory proposes a progression from strategic orientation to value-creation, by way of innovation; start-up entrepreneurs conceive innovation as an incidental process. Value-creation does not necessarily have to involve innovation. Findings, then, suggest that strategic orientation takes a different form in start-up companies compared to major theoretical conceptualisations. Predominant orientation theory concentrates on activities internal to organisations, such as inter-departmental communication and company culture. In their application of strategic orientations, however, entrepreneurial start-ups are more concerned with negotiating the external environment, especially exploring needs and refining solutions. Finally, as start-ups gain economic importance, this paper argues that through strategic orientation, the field of marketing has a direct impact on value-creation.}},
author = {{Muscat, Nathanael and Ivanov, Ivaylo}},
language = {{eng}},
note = {{Student Paper}},
title = {{What comes first: the market or the product? Strategic orientations among start-ups in the Øresund Region}},
year = {{2016}},
}