The Impact of Strategic Orientations on New Product Development Financial Performance

Abstract

The purpose of the present study is to investigate the impact of the organization's strategic orientation on the financial performance of new product development. This study examined two types of organizational strategic orientations: market orientation, innovation orientation, and the complementary relationship of market orientation / innovation. The present study is a descriptive survey and causal in terms of applied purpose. Statistical population consists of manufacturing companies in high and medium technology industries and companies with high technology in other industries. Sample size was determined based on Cochran formula of 229 companies, which were collected convenient sampling method and questionnaire. Confirmatory factor analysis technique was used to purify the data using version 22 of Amos and the hierarchical linear regression method with SPSS version 22 was used to test the hypotheses. The results of this study indicate the positive impact of market orientation and innovation orientation on new product development performance. In addition, the findings indicate a significant and positive effect of complementary market / innovation orientation on new product development performance. The results also showed that strategic orientations of the organization can influence the financial performance of new product development.

Keywords

• complimentary
• innovation orientation
• market orientation
• new product development performance