Looking For Performance: How Innovation And Strategy May Affect Market Orientation Models
Despite 20 years of research into various aspects of the 'Market Orientation' (MO) construct, dubiety persists regarding the existence, nature and significancy of the relationship between market orientation and firm performance. In order to get more evidence some authors suggest including innovation in MO models. Debate also continues to examine whether organizational strategy is an antecedent or a consequence of MO, whilst some argue that strategy moderates the MO-performance relationship. Furthermore, there are sectors of industry and geographies where the phenomenon has received very little investigation, even of an exploratory nature. This paper aims to explore the MO-performance relationship and to value the effect of innovation in MO-performance models in a sector where MO was virtually unknown: the Spanish real estate industry.