Innovation and bussiness management

Innovation also is an important function of management because it is linked to business performance, as has been demonstrated in many studies (e.g., Damanpour and Evan 1984; Damanpour, Szabat, and Evan 1989; Khan and Manopichetwattana 1989; Zahra, de Belardino, and Boxx 1988). The findings uniformly indicate that a robust relationship, that is, a positive and direct relationship, exists between innovation and performance. As is evidenced by reports of returns on innovation accounting for 50% or more of corporate revenue (Kotler 1991), innovation is becoming increasingly important as a means of survival, not just growth, in the face of intensifying competition and environmental uncertainty (Gronhaug and Kaufmann 1988).
The extant literature, however, has yet to address how market orientation and innovation together influence organizational performance. The significance of focusing on a key function of management in the context of an organizational culture to obtain a better understanding of organizational performance is meaningful on both conceptual and strategic grounds.
First, despite the soundness of its theoretical construct, the role of market orientation on firm performance, whether facilitative or causative, warrants further investigation (Deshpande, Farley, and Webster 1993). The popular notion has been that a proper execution of market orientation brings about superior performance; however, this assumption increasingly is met with skepticism. For example, Deshpande, Farley, and Webster (1993) suggest that, conceivably, the most important manifestation of market orientation may be the success of innovations en route to the success of an organization. The issue of whether market orientation facilitates an organization's innovativeness, however, has yet to be addressed explicitly in the literature.
Second, though the importance of market orientation is acknowledged for its assumed association with organizational performance, the discordant findings on the nature of the market orientation-performance relationship1 have somewhat limited its strategic value for managers. Although Narver and Slater (1990), Ruekert (1992), and...

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