The influence of entrepreneurial and market orientation on the degree of innovation and success of new ventures in technology-oriented industries

Viac o knihe

The wireless communications industry has faced significant challenges in recent years, with new services based on emerging technologies intended to drive future growth. To understand what makes a new service successful and accepted by customers, it's essential to examine the role of new ventures, as innovation in this sector is largely propelled by numerous small, young companies. This study explores how entrepreneurial orientation, market orientation, and innovation impact the success of these ventures. A comprehensive research project identified relevant companies in Europe and Israel, resulting in 1,510 contacts and 282 usable responses, yielding an 18.16% response rate. Analysis through linear structural relationship modeling indicates that new ventures benefit from an entrepreneurial approach focused on developing new technological solutions. Importantly, these innovations should not necessitate significant changes in customer behavior or planning. To achieve market success, new ideas must be assessed through customer feedback. While customers may initially struggle to recognize the benefits of new solutions, their insights can be invaluable. Assuming that customers will eventually understand the advantages of a development can be a risky misconception.