Market Orientation, Innovation and Entrepreneurship: An Empirical Examination of the Illinois Beef Industry

This paper explores the importance of a producer’s market orientation on their subjective performance within agricultural commodity markets. Using a structural equation model of beef producers, our findings suggest that market oriented firms are highly innovative and achieve superior performance. These findings are consistent with previous research on the market orientation-performance relationship in heterogeneous product markets. The cost focus of a firm was also found to have a significant influence on innovation, but no direct effect on performance. This suggests that beef producers should follow a balanced approach utilizing both an external market and an internal productivity focus to achieve superior returns as opposed to solely focusing on internal productivity as many producers currently do.

Issue Date:
Sep 01 2008
Publication Type:
Journal Article
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Published in:
International Food and Agribusiness Management Review, 11, 3
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JEL Codes:
Q10; Q13; Q16

 Record created 2017-04-01, last modified 2020-10-28

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