2 CHAPTER TWO
2.6 CONCLUSIONS, LIMITATIONS AND FUTURE RESEARCH
This study contributes to the MO literature by extending this concept into the context of BG firms. We have explored whether the traditional MO concept and scales (MARKOR and/or MKTOR) are adequate for applying the MO construct in the context of BG firms, or whether they require modifying before they can be applied to these firms.
The results of the study indicate that when we think about BG firms we should refer to OIM instead of to MO; OIM shares the core elements of the MO construct yet includes an additional distinguishing element – namely, an ―international‖ emphasis. That is the reason why the components of the MKTOR scale can be used (the utility of the components of the MKTOR scale for BG firms in the past may have been due to the fact that all of the BG firms had a very high level of customer orientation (Kim et., al 2011; Knight et al., 2004; Wong & Merrilees, 2012)). In fact, the Narver and Slater (1990) scale has been considered to be more accurate because it explicitly encapsulates
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concern with both customers and competitors (Wrenn, 1997), but these components have to be completed with two new constructs: (1) innovativeness and technological capability, which have previously been identified in the BG literature as factors with a strong influence on the BG internationalization process; and (2) financial conditions and the networks in which companies operate, which have similarly been recognized as factors with a large influence.
Our empirical results also indicated that it might be useful to incorporate or modify items in the constructs of the traditional MKTOR scale when we are focusing on BG firms. For instance, we modified the construct of customer orientation by adding the item CuO7: ―We collect customer information using external sources (such as market research agencies, syndicated data sources and consultants)‖ and we incorporated two constructs: (1) innovativeness and technological capability and (2) networks. This enabled us to consider the factors that facilitate the internationalization process of BG firms and that have been considered by scholars to be sources of positive performance for BG firms (Kocak & Abimbola, 2009; McDougall & Oviatt, 1996; Nordman &
Melén, 2008; Sharma & Blomstermo, 2003). This finding is in line with the results of Kirca et al., (2005), who showed that market orientation is still an area in need of further investigation, especially in international contexts.
On the other hand, the well-researched connection between market orientation and performance allowed us to explore this relationship in the specific field of BG firms.
Even though the five BG firms analyzed were not from the same industry, all of them confirmed the relationship between OIM and performance. Similar findings were reported by Verbees and Meulenberg (2004), who confirmed that the relationship holds for small firms ―in line with the growing amount of evidence about the positive impact of the MO on company performance‖ (p.147).
Keeping in mind the fact that this study focuses on BG firms from a specific context, more empirical work is needed before the relation between the extended concept of OIM and performance can be generalized. Further studies should be made to investigate a larger sample of those firms that have undergone early internationalization, but it must be noted that the aim of the research was not to obtain general results but to explain the evaluation of the MO concept and its measures in the context of BG firms, with the
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purpose of building the theory. Addressing these limitations should lead to fruitful avenues for future research.
From our perspective, further empirical research is needed to test our proposed scale for measuring OIM. Constructs validity and reliability must be assessed using psychometrical procedures in line with the recommendations of Nunnally (1978) and Churchill (1979). Secondly, further empirical research should be focused on testing the following hypothesis:
The higher the orientation towards international markets of a born global firm, the higher the performance of this company.
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