Entrepreneurial Innovation Capability and Firm Success: An Empirical Investigation of Gem and Jewelry Businesses in Thailand
Keywords:
Entrepreneurial Innovation Capability, Sustainable Competitive Advantage, Firm Success, Gem and Jewelry BusinessesAbstract
Entrepreneurial innovation capability enables organizations to have the ability to develop and improve new methods and processes, as well as contribute to the development or creation of products and services of businesses and stay ahead of the competitors. This study aimed to examine the effect
of entrepreneurial innovation capability on firm success in gem and jewelry businesses in Thailand. The size of sample group was 127 firms. The questionnaires were used as a tool for collecting data. The statistics for this research was Multiple Regression. The result showed that entrepreneurial innovation capability
in terms of firm innovativeness awareness and business risk-taking had influence on sustainable competitive advantage which in turn affecting firm success.
This research developed the concepts of innovation capability and provided useful information that gem and jewelry business can take into account in order to enhance sustainable growth.
References
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Armstrong, J. S., & Overton, T. S. (1977). Estimating non-response bias in mail surveys. Journal of Marketing
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Baron, R. A., & Tang, J. (2011). The role of entrepreneurs in firm-level innovation: Joint effects of positive
affect, creativity, and environmental dynamism. Journal of Business Venturing, 26(1), 49-60.
Benitez, J., Llorens, J., & Fernandez, V. (2015). IT impact on talent management and operational
environmental sustainability. Information Technology & Management, 16(3), 207–220.
Brock, D. M. (2003). Autonomy of individuals and organizations: Towards a strategy research agenda.
International Journal of Business and Economics, 2, 57–73.
Burgelman, R. A. (2001). Strategy is destiny: How strategy-making shapes a company’s future. New York:
Free Press.
Covin, J. G., Green, K. M., & Slevin, D. P. (2006). Strategic process effects on the entrepreneurial orientation-
sales growth rate relationship. Entrepreneurship Theory and Practice, 30(1), 57-81.
Covin, J. G., & Lumpkin, G. T. (2011). Entrepreneurial orientation theory and research: Reflections on a
needed construct. Entrepreneurship: Theory and Practice, 35(5), 855-872.
Dibrell, C., Craig, J., & Hansen, E. (2011). Natural environment, market orientation, and firm innovativeness:
An organizational life cycle perspective. Journal of Small Business Management, 49(3), 467-489.
Dröge, C., Calantone, R. J., & Harmancioglu, N. (2008). New product success: Is it really controllable by
managers in highly turbulent environments?. Journal of Product Innovation Management, 25(3), 272–286.
Eggers, F., Kraus, S., Hughes, M., Laraway, S., & Snycerski, S. (2013). Implications of customer and
entrepreneurial orientations for SME growth. Management Decision, 51(3), 524-546.
Ganter, A., & Hecker, A. (2014). Configurational paths to organizational innovation: Qualitative comparative
analyses of antecedents and contingencies. Journal of Business Research, 67, 1285–1292.
Gima, K. A., Slater, S. F., & Olson, E. M. (2005). The contingent value of responsive and proactive market
orientations for new product program performance. Journal of Product Innovation Management, 22, 464-482.
Green, K. W., Zelbst, P. J.,Meacham, J., & Bhadauria, V. S. (2012). Green supply chain management
practices: Impact on performance. Supply Chain Management: An International Journal, 17(3), 290– 305.
Haber, S., & Reichel, A. (2005). Identifying performance measures of small ventures: The case of the tourism
industry. Journal of Small Business Management, 43(3), 257-286.
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis (7th ed.). Prentice
Hall, Upper Saddle River, New Jersey.
Hebert, R., & Link, A. (2006). The entrepreneur as inventor. The Journal of Technology Transfer, 31(5), 589-597.
Ho, J., Plewa, C., & Lu, V. N. (2015). Examining strategic orientation complementarity using multiple
regression analysis and fuzzy set QCA. Journal of Business Research, Article in Press, 1-7.
Hoonsopon, D., & Ruenrom, G. (2012). The impact of organizational capabilities on the development of
radical and incremental product innovation and product innovation performance. Journal of
Management Issues, 24(3), 250-276.
Huang, K. E., Wu, J. H., Lu, S. Y., & Lin, Y. C. (2016). Innovation and technology creation effects on
organizational performance. Journal of Business Research, 69(6), 2187–2192.
Hughes, M., & Morgan, R. E. (2007). Deconstructing the relationship between entrepreneurial orientation and
business performance at the embryonic stage of firm growth. Industrial Marketing Management, 36, 651–661.
Ireland, R. D., Hitt, M. A., & Sirmon, D. G. (2003). A model of strategic entrepreneurship: The construct and its
dimensions. Journal of Management, 29, 963–989.
Kang, K. H., Lee, S., & Huh, C. (2010). Impacts of positive and negative corporate social responsibility
activities on company performance in the hospitality industry. International Journal of Hospitality
Management, 29, 72-82.
Kanter, R. M., North, J., Bernstein, A. P., & Williams, A. (1990). Engines of progress: Designing and running
entrepreneurial vehicles in established companies. Journal of Business Venturing, 5, 415–430.
Kim, S. H., & Huarng, K. H. (2011). Winning strategies for innovation and high technology products
management. Journal of Business Research, 64(11), 1147–1150.
Lawson, B., & Samson, D. (2001). Developing innovation capability in organisations: A dynamic capabilities
approach. International Journal of Innovation Management, 5(3), 377–400.
Leiblein, M., Reuer, J., & Dalsace, F. (2002). Do make or buy decision matter? The influence of organization
governance of technological performance. Strategic Management Journal, 23(9), 817-833.
Lewis, E. F., Hardy, M., & Snaith, B. (2013). An analysis of survey reporting in the imaging professions: Is the
issue of non-response bias being adequately addressed?. Radiography, 19(3), 240–245.
Lewis, K. (2008). Small firm owners in New Zealand: In it for the "good life" or growth?. Small Enterprise
Research, 16(1), 61-100.
Liu, S. S., Luo, X., & Shi, Y. Z. (2002). Integrating customer orientation, corporate entrepreneurship, and
learning orientation in organizations-in-transition: An empirical study. International Journal of
Research in Marketing, 19, 367-382.
Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to
performance. Academy of Management Review, 97, 135-172.
Lumpkin, G. T., & Dess, G. G. (2001). Linking two dimensions of entrepreneurial orientation to firm performance:
the moderating role of environment and industry life cycle. Journal of Business Venturing, 16(5), 429-451.
Melissa, A. S. (2005). Strategic management of technological innovation. International Edition McGraw-Hill, New York,
Miller, D. (1983). The correlates of entrepreneurship in three types of firms. Management Science, 29(7), 770– 791.
Neuman, W. L. (2006). Social research methods qualitative and quantitative approaches. Toronto: Pearson.
Nunnally, J. C., & Bernstein, I. H. (1994). Psychometric theory (2nd ed.). New York: McGraw-Hill.
Pongpearchan, P., & Ussahawanitchakit, P. (2011). Strategic entrepreneurship management competency and
firm success: A comparative study of SMEs in auto and electronic parts in Thailand. International
Journal of Business Strategy, 11(2).
Prastacos, G., Soderquist, K., Spanos, Y., & Wassenhove, L. V. (2002). An integrated framework for managing
change in the new competitive landscape. European Management Journal, 20(1), 55-71.
Rauch, A., Wiklund, J., Lumpkin, G. T., & Frese, M. (2009). Entrepreneurial orientation and business
performance: An assessment of past research and suggestions for the future. Entrepreneurship:
Theory and Practice, 33(3), 761.
Reijonen, H. (2008). Understanding the small business owner: What they really aim at and how this relates to
firm performance. Management Research News, 31(8), 616-629.
Rogelberg, S. G., & Stanton, J. M. (2007). Understanding and dealing with organizational survey nonresponse.
Organizational Research Methods, 10, 195-209.
Runyan, R., Droge, C., & Swinney, J. (2008). Entrepreneurial orientation versus small lbusiness orientation:
what are their relationships to firm performance?. Journal of Small Business Management, 46(4), 567–588.
Shan, P., Song, M., & Ju, X. (2016). Entrepreneurial orientation and performance: Is innovation speed a issing link?.
Journal of Business Research, 69, 683-690.
Shirokova, G., Bogatyreva, K., & Beliaeva, T. (2016). Entrepreneurial orientation and firm performance in
different environmental settings. Journal of Small Business and Enterprise Development, 23(3), 703-727.
Shoham, A., & Fieganbaum, A. (2002). Competitive determinants of organizational risk-taking attitude: The role of
strategic reference points. Management Decision, 40(2), 127-141.
Staley, S., & Warfield, J. (2007). Enterprise integration of product development data: systems science in
action. Enterprise Information Systems, 1(3), 269–285.
Swink, M., Talluri, S., & Pandejpong, T. (2006). Faster, better, cheaper: a study of NPD project efficiency and
performance tradeoffs. Journal of Operations Management, 24(5), 542–562.
Teece, D. J. (2007). Explicating dynamic capabilities: The nature and micro foundations of (sustainable)
enterprise performance. Strategic Management Journal, 28(13), 1319-1350.
Teece, D. J., & Pisano, G. (1994). The dynamic capability of firms: An introduction. Industrial and Corporate
Change, 3(3), 537–556.
Ussahawanitchakit, P. (2005). Effects of e-commerce on expert marketing strategy and performance: An
empirical study of Thai firms. Review of Business Research, 5(3), 46-54.
Wang, K. Y., Hermens, A., Huang, K. P., & Chelliah, J. (2015). Entrepreneurial orientation and organizational
learning on SMEs’ innovation. The International Journal of Organizational Innovation, 7(4), 71-81.
Weerawardena, J., & O’Cass, A. (2004). Exploring the characteristics of the market-driven firms and
antecedents to sustained competitive advantage. Industrial Marketing Management, 33, 419-428.
Weerawardena, J., O'Cass, A., & Julian, C. (2006). Does industry matter? Examining the role of industry
structure and organizational learning in innovation and brand performance. Journal of Business
Research, 59(1), 37-45.
Wiklund, J., & Shepherd, D. (2003). Knowledge-based resources, entrepreneurial orientation, and the
performance of small and medium-sized businesses. Strategic Management Journal, 24, 1307–1314.
Zahra, S. A., Sapienza, H. J., & Davidsson, P. (2006). Entrepreneurship and dynamic capabilities: A review,
model and research agenda. Journal of Management Studies, 43(4), 917-955.
Zehir, C., & Ozsahin, M. (2008). A field research on the relationship between strategic decision making speed
and innovation performance in the case of Turkish large-scale firms. Management Decision, 46(5), 709 - 724.
Zhou, K. Z., Yim, C. K., & David, K. T. (2005). The effects of strategic orientations on technology and market-
based breakthrough innovations. Journal of Marketing, 69, 42-60.
Armstrong, J. S., & Overton, T. S. (1977). Estimating non-response bias in mail surveys. Journal of Marketing
Research, 14, 396-402.
Baron, R. A., & Tang, J. (2011). The role of entrepreneurs in firm-level innovation: Joint effects of positive
affect, creativity, and environmental dynamism. Journal of Business Venturing, 26(1), 49-60.
Benitez, J., Llorens, J., & Fernandez, V. (2015). IT impact on talent management and operational
environmental sustainability. Information Technology & Management, 16(3), 207–220.
Brock, D. M. (2003). Autonomy of individuals and organizations: Towards a strategy research agenda.
International Journal of Business and Economics, 2, 57–73.
Burgelman, R. A. (2001). Strategy is destiny: How strategy-making shapes a company’s future. New York:
Free Press.
Covin, J. G., Green, K. M., & Slevin, D. P. (2006). Strategic process effects on the entrepreneurial orientation-
sales growth rate relationship. Entrepreneurship Theory and Practice, 30(1), 57-81.
Covin, J. G., & Lumpkin, G. T. (2011). Entrepreneurial orientation theory and research: Reflections on a
needed construct. Entrepreneurship: Theory and Practice, 35(5), 855-872.
Dibrell, C., Craig, J., & Hansen, E. (2011). Natural environment, market orientation, and firm innovativeness:
An organizational life cycle perspective. Journal of Small Business Management, 49(3), 467-489.
Dröge, C., Calantone, R. J., & Harmancioglu, N. (2008). New product success: Is it really controllable by
managers in highly turbulent environments?. Journal of Product Innovation Management, 25(3), 272–286.
Eggers, F., Kraus, S., Hughes, M., Laraway, S., & Snycerski, S. (2013). Implications of customer and
entrepreneurial orientations for SME growth. Management Decision, 51(3), 524-546.
Ganter, A., & Hecker, A. (2014). Configurational paths to organizational innovation: Qualitative comparative
analyses of antecedents and contingencies. Journal of Business Research, 67, 1285–1292.
Gima, K. A., Slater, S. F., & Olson, E. M. (2005). The contingent value of responsive and proactive market
orientations for new product program performance. Journal of Product Innovation Management, 22, 464-482.
Green, K. W., Zelbst, P. J.,Meacham, J., & Bhadauria, V. S. (2012). Green supply chain management
practices: Impact on performance. Supply Chain Management: An International Journal, 17(3), 290– 305.
Haber, S., & Reichel, A. (2005). Identifying performance measures of small ventures: The case of the tourism
industry. Journal of Small Business Management, 43(3), 257-286.
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis (7th ed.). Prentice
Hall, Upper Saddle River, New Jersey.
Hebert, R., & Link, A. (2006). The entrepreneur as inventor. The Journal of Technology Transfer, 31(5), 589-597.
Ho, J., Plewa, C., & Lu, V. N. (2015). Examining strategic orientation complementarity using multiple
regression analysis and fuzzy set QCA. Journal of Business Research, Article in Press, 1-7.
Hoonsopon, D., & Ruenrom, G. (2012). The impact of organizational capabilities on the development of
radical and incremental product innovation and product innovation performance. Journal of
Management Issues, 24(3), 250-276.
Huang, K. E., Wu, J. H., Lu, S. Y., & Lin, Y. C. (2016). Innovation and technology creation effects on
organizational performance. Journal of Business Research, 69(6), 2187–2192.
Hughes, M., & Morgan, R. E. (2007). Deconstructing the relationship between entrepreneurial orientation and
business performance at the embryonic stage of firm growth. Industrial Marketing Management, 36, 651–661.
Ireland, R. D., Hitt, M. A., & Sirmon, D. G. (2003). A model of strategic entrepreneurship: The construct and its
dimensions. Journal of Management, 29, 963–989.
Kang, K. H., Lee, S., & Huh, C. (2010). Impacts of positive and negative corporate social responsibility
activities on company performance in the hospitality industry. International Journal of Hospitality
Management, 29, 72-82.
Kanter, R. M., North, J., Bernstein, A. P., & Williams, A. (1990). Engines of progress: Designing and running
entrepreneurial vehicles in established companies. Journal of Business Venturing, 5, 415–430.
Kim, S. H., & Huarng, K. H. (2011). Winning strategies for innovation and high technology products
management. Journal of Business Research, 64(11), 1147–1150.
Lawson, B., & Samson, D. (2001). Developing innovation capability in organisations: A dynamic capabilities
approach. International Journal of Innovation Management, 5(3), 377–400.
Leiblein, M., Reuer, J., & Dalsace, F. (2002). Do make or buy decision matter? The influence of organization
governance of technological performance. Strategic Management Journal, 23(9), 817-833.
Lewis, E. F., Hardy, M., & Snaith, B. (2013). An analysis of survey reporting in the imaging professions: Is the
issue of non-response bias being adequately addressed?. Radiography, 19(3), 240–245.
Lewis, K. (2008). Small firm owners in New Zealand: In it for the "good life" or growth?. Small Enterprise
Research, 16(1), 61-100.
Liu, S. S., Luo, X., & Shi, Y. Z. (2002). Integrating customer orientation, corporate entrepreneurship, and
learning orientation in organizations-in-transition: An empirical study. International Journal of
Research in Marketing, 19, 367-382.
Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to
performance. Academy of Management Review, 97, 135-172.
Lumpkin, G. T., & Dess, G. G. (2001). Linking two dimensions of entrepreneurial orientation to firm performance:
the moderating role of environment and industry life cycle. Journal of Business Venturing, 16(5), 429-451.
Melissa, A. S. (2005). Strategic management of technological innovation. International Edition McGraw-Hill, New York,
Miller, D. (1983). The correlates of entrepreneurship in three types of firms. Management Science, 29(7), 770– 791.
Neuman, W. L. (2006). Social research methods qualitative and quantitative approaches. Toronto: Pearson.
Nunnally, J. C., & Bernstein, I. H. (1994). Psychometric theory (2nd ed.). New York: McGraw-Hill.
Pongpearchan, P., & Ussahawanitchakit, P. (2011). Strategic entrepreneurship management competency and
firm success: A comparative study of SMEs in auto and electronic parts in Thailand. International
Journal of Business Strategy, 11(2).
Prastacos, G., Soderquist, K., Spanos, Y., & Wassenhove, L. V. (2002). An integrated framework for managing
change in the new competitive landscape. European Management Journal, 20(1), 55-71.
Rauch, A., Wiklund, J., Lumpkin, G. T., & Frese, M. (2009). Entrepreneurial orientation and business
performance: An assessment of past research and suggestions for the future. Entrepreneurship:
Theory and Practice, 33(3), 761.
Reijonen, H. (2008). Understanding the small business owner: What they really aim at and how this relates to
firm performance. Management Research News, 31(8), 616-629.
Rogelberg, S. G., & Stanton, J. M. (2007). Understanding and dealing with organizational survey nonresponse.
Organizational Research Methods, 10, 195-209.
Runyan, R., Droge, C., & Swinney, J. (2008). Entrepreneurial orientation versus small lbusiness orientation:
what are their relationships to firm performance?. Journal of Small Business Management, 46(4), 567–588.
Shan, P., Song, M., & Ju, X. (2016). Entrepreneurial orientation and performance: Is innovation speed a issing link?.
Journal of Business Research, 69, 683-690.
Shirokova, G., Bogatyreva, K., & Beliaeva, T. (2016). Entrepreneurial orientation and firm performance in
different environmental settings. Journal of Small Business and Enterprise Development, 23(3), 703-727.
Shoham, A., & Fieganbaum, A. (2002). Competitive determinants of organizational risk-taking attitude: The role of
strategic reference points. Management Decision, 40(2), 127-141.
Staley, S., & Warfield, J. (2007). Enterprise integration of product development data: systems science in
action. Enterprise Information Systems, 1(3), 269–285.
Swink, M., Talluri, S., & Pandejpong, T. (2006). Faster, better, cheaper: a study of NPD project efficiency and
performance tradeoffs. Journal of Operations Management, 24(5), 542–562.
Teece, D. J. (2007). Explicating dynamic capabilities: The nature and micro foundations of (sustainable)
enterprise performance. Strategic Management Journal, 28(13), 1319-1350.
Teece, D. J., & Pisano, G. (1994). The dynamic capability of firms: An introduction. Industrial and Corporate
Change, 3(3), 537–556.
Ussahawanitchakit, P. (2005). Effects of e-commerce on expert marketing strategy and performance: An
empirical study of Thai firms. Review of Business Research, 5(3), 46-54.
Wang, K. Y., Hermens, A., Huang, K. P., & Chelliah, J. (2015). Entrepreneurial orientation and organizational
learning on SMEs’ innovation. The International Journal of Organizational Innovation, 7(4), 71-81.
Weerawardena, J., & O’Cass, A. (2004). Exploring the characteristics of the market-driven firms and
antecedents to sustained competitive advantage. Industrial Marketing Management, 33, 419-428.
Weerawardena, J., O'Cass, A., & Julian, C. (2006). Does industry matter? Examining the role of industry
structure and organizational learning in innovation and brand performance. Journal of Business
Research, 59(1), 37-45.
Wiklund, J., & Shepherd, D. (2003). Knowledge-based resources, entrepreneurial orientation, and the
performance of small and medium-sized businesses. Strategic Management Journal, 24, 1307–1314.
Zahra, S. A., Sapienza, H. J., & Davidsson, P. (2006). Entrepreneurship and dynamic capabilities: A review,
model and research agenda. Journal of Management Studies, 43(4), 917-955.
Zehir, C., & Ozsahin, M. (2008). A field research on the relationship between strategic decision making speed
and innovation performance in the case of Turkish large-scale firms. Management Decision, 46(5), 709 - 724.
Zhou, K. Z., Yim, C. K., & David, K. T. (2005). The effects of strategic orientations on technology and market-
based breakthrough innovations. Journal of Marketing, 69, 42-60.
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Published
25-10-2019
How to Cite
Wanitkittikul, K., Pratoom, K., & Jhundra-indra, P. (2019). Entrepreneurial Innovation Capability and Firm Success: An Empirical Investigation of Gem and Jewelry Businesses in Thailand. Journal of Accountancy and Management, 10(3), 88–104. Retrieved from https://so02.tci-thaijo.org/index.php/mbs/article/view/223066
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