소기업의 내부역량이 경쟁우위 및 프랜차이즈 사업화 의도에 미치는 영향: 프랜차이즈 적합성의 조절효과를 중심으로

A Study on the Effects of the Internal Competence of Small Business on Competitive Advantage and Startup Intention to Commercialize a Franchise: Focusing on the Moderating Effect of Franchise Suitability

  • 김수일 (호서대학교 벤처대학원 벤처경영학과) ;
  • 김홍근 (호서대학교 벤처대학원 벤처경영학과)
  • Kim, Soo Il (Hoseo Graduate School of Venture(Venture Management)) ;
  • Kim, Hong Keun (Hoseo Graduate School of Venture(Venture Management))
  • 투고 : 2019.09.10
  • 심사 : 2019.10.26
  • 발행 : 2019.10.31

초록

본 연구는 최근 해외 브랜드 및 대기업의 침투 속에 지역경제를 비롯한 소기업 경쟁우위 확보와 이를 기반으로 시장 확대 전략에서 고려될 수 있는 프랜차이즈 사업화 의도에 미치는 영향 관계를 규명하여, 향후 소기업 정책지원 등의 하나로 접근 방안을 제시하고자 하였다. 이를 위해 국내 소기업 276개를 대상으로 구조화된 설문지를 통해 그 변인과의 관계를 분석하였으며, 주요 분석 결과는 다음과 같다. 첫째, 소기업의 내부역량 요인과 경쟁우위 요인과의 관계에서 기술역량, 자금조달역량, 제품(서비스) 차별화역량이 경쟁우위에 유의한 정(+)의 영향을 미치는 것으로 나타났다. 둘째, 소기업의 내부역량 요인과 프랜차이즈 사업화 의도와의 관계에서는 자금조달역량과 마케팅역량은 사업화 의도에 유의한 정(+)의 영향을 미치는 것으로 나타났고, 경쟁우위는 프랜차이즈 사업화 의도에 유의한 정(+)의 영향을 미치는 것으로 나타났다. 셋째, 개별 내부역량요인과 프랜차이즈 사업화 의도와의 관계에서 경쟁우위는 기술역량과 제품(서비스) 차별화역량에서 완전매개, 자금조달역량과 마케팅역량에서는 부분 매개하는 것으로 나타났고, 전체 내부역량요인이 경쟁우위를 매개하여 프랜차이즈 사업화 의도에 미치는 관계에서 간접효과는 유의한 것으로 나타났다. 마지막으로 소기업의 내부역량 중 자금조달역량과 마케팅역량이 프랜차이즈 사업화 의도와의 관계에서 프랜차이즈 적합성이 조절효과가 나타났고, 경쟁우위와 프랜차이즈 사업화 의도와의 관계에서도 조절효과가 나타났다. 이러한 결과를 통해, 소기업 관점에서 기업이 지니는 내부역량요인이 프랜차이즈 사업에서 경쟁우위에 미치는 관계를 확인할 수 있었고, 소기업의 CEO들은 프랜차이즈 사업화에 내부역량요인을 적극적으로 고려하고 있는지 확인할 수 있었다. 또한, 프랜차이즈 사업에 대한 적합성 등 평가의 필요성과 함께 소기업의 내부역량 요인과 연계될 수 있는 시장 접근 방안 등을 통해 소기업의 사업 확장을 위한 대안으로 프랜차이즈 사업화에서 보다 중점적으로 운영 관리가 요구되는 내부역량 관점을 제시하였다는 데 시사점이 있다.

The purpose of this study is to analyze the effect of internal competence of small business on the competitive advantage and start-up intention. Through this, which key competence of small business can be proposed for market growth against of large companies that have a great capital power. Also, implications for development direction can be suggested. For this purpose, technology capability, financing capability, marketing capability, and product/service differentiation capability factors were set as independent variables, as well as competitive advantage as a mediating factor, and startup intention to be franchiser as a dependent variable. For the analysis, a structured questionnaires survey was conducted to 276 domestic small business in capital area. The main results are as follows. First, in relation to the internal competency and the competitive advantage of small businesses, it was found that technological capabilities, financing capabilities and product (service) differentiation have a positive effect on competitive advantage. Second, the relationship between the internal capacity of a small entity and startup intention to commercialize a franchiser business indicates that its financing capacity and marketing capabilities have a positive effect on startup intention to commercialize the business, and that competitive advantage has a significant effect on startup intention to commercialize the franchise. Third, competitive advantage was found to mediate the relationship between internal competency and startup intention. Finally, it was shown that the internal capacity of a small business has a regulating effect in relation to its financing capacity, marketing capabilities and startup intention to commercialize the franchise, and that it also had a regulating effect in relation to its relationship with its competitive advantage and franchise suitability. Based on the above results, if small business can take competitive advantage in the market, they also consider startup intention to commercialize a franchiser, in addition, it is expected that one suggestion can be made from an internal capacity perspective required more emphasis on operations and management as an alternative to expanding small businesses' business, including market access measures that can be linked to internal capacity factors of small businesses.

키워드

참고문헌

  1. Agency for Traditional Market Administration.(2013). management information guide. Research Report.
  2. Ahn, Y. S., & Kim, H. S.(2002). An Empirical Study on Factors Influencing the Performance of Software Venture Business. korean management review 31(2), 431-461.
  3. Aime, F., Johnson, S., Ridge, J., & Hill, A.(2010). The Routine May be Stable but the Advantage is Not: Competitive Implications of Key Employee Mobility. Strategic Management Journal, 31(1), 75-87. https://doi.org/10.1002/smj.809
  4. Andrews, K. R.(1971). The Concept of Corporate Strategy. Homewood, IL: Irwin.
  5. Hofer, C. & Schendel, D. E.(1978), Strategy Formulation: Analysis Concepts, West Publishing Co, St. Paul, MN.
  6. Avlonitis, G. J., & Salavou, H. E.(2007). Entrepreneurial orientation of SMEs, Product innovativeness, and performance. Journal of Business Research, 60(5), 566-575. https://doi.org/10.1016/j.jbusres.2007.01.001
  7. Bae, J. W., & Bae, J. T.(2003). The Case of Korean Venture Firms in the IT Industry: Internationalization Processes and Strategies of High-Tech Venture Firms. The journal of small business innovation, 6(1), 41-74.
  8. Barney, J. B.(1991). Firm resources and sustained competitive advantage. Journal of Management, 17, 99-120. https://doi.org/10.1177/014920639101700108
  9. Baron, R. M., & Kenny, D. A.(1986). The moderator-mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of Personality and Social Psychology, 51(6), 1173-1182. https://doi.org/10.1037/0022-3514.51.6.1173
  10. Berchicci, L.(2013). Towards an Open R&D System: Internal R&D Investment, External Knowledge Acquisition and Innovative Performance. Research Policy, 42(1), 117-127. https://doi.org/10.1016/j.respol.2012.04.017
  11. Berry, M. M. J., & Taggart, J. H.(1994). Managing technology and innovation: A review. R&D Management, 24(4), 341-353. https://doi.org/10.1111/j.1467-9310.1994.tb00889.x
  12. Bin, B. S., & Park, J. K.(2002). An Empirical Study on the Success Factors of a Small Business Starting-up. THE KOREAN SMALL BUSINESS REVIEW, 24(3), 135-158.
  13. Blesa, A., & Ripolles, M.(2008). The influence of marketing capabilities on economic international performance. International Marketing Review, 25(6), 651-673. https://doi.org/10.1108/02651330810915574
  14. Bronson, J. W., & Morgan, C. P.(1998) The role of scale in franchise success: Evidence from the travel industry. Journal of Small Business Management, 36(4), 33-42.
  15. Burgelman, R. A., Christensen, C. M., & Wheelwright, S. C.(2004). Strategic Management of Technology and Innovation. Irwin: McGraw-Hill.
  16. Chandler, A.(1962). Strategy and Structure. Cambridge, Mass: MIT Press.
  17. Cho, D. W., & Hwang, K. Y.(1998). A Theoretical Study on the Determinants of Performance in the Banking Industry: Focused on the Resource Criteria Point of View. Business Review in CNU, 14(2), 131-150.
  18. Cho, H. D.(2001). Developmental Pattern of Technological capability of Catching-up Players in terms of Four Elements. JOURNAL OF TECHNOLOGY INNOVATION, 8(2), 171-202.
  19. Cho, Y. S.(2012). In Relation to Entrepreneurship and Export Performance of Small and Medium Manufacturing Firm, the Mediating Effect of Product Differentiation Capabilities. International Commerce and Information Review, 14(3), 113-138.
  20. Choi, D. R.(2012). A Study of the Effects of a Support Program for Small Enterprises on Business Performance. Doctoral dissertation, Pusan National University.
  21. Choo, S. Y., Chung, S. Y.,Suh, S. B., & Limb, S. J.(2008). A Study on the Effects of the Fit Among Environment, Strategy, and Organizational Structure on Firm Performance. Journal of Strategic Management, 11(3), 43-67. https://doi.org/10.17786/JSM.2008.11.3.003
  22. Chung, Y. S.(2008). Determinants of the Financial Outcomes of Micro-enterprises. Social Welfare Policy, 33, 531-557.
  23. Covin, J. G., & Slevin, D. P.(1990). New venture strategic posture, structure, and performance: An industry life cycle analysis. Journal of Business Venturing, 5(1), 123-135. https://doi.org/10.1016/0883-9026(90)90004-D
  24. Davidsson, P.(1995). Determinants of entrepreneurial intention. Retrieved from http://eprints.qut.edu.au/2076/
  25. Day, G. S.(1994). The Capabilities of Market-Driven Organization. Journal of Marketing, 58(4), 37-52. https://doi.org/10.1177/002224299405800404
  26. Dierickx, I., & Cool, K.(1989). Asset stock accumulation and sustainability of competitive advantage. Management science, 35(12), 1504-1511. https://doi.org/10.1287/mnsc.35.12.1504
  27. Donald, F. K., & Richard M. H.(1995). Entrepreneurship 3rd ed. The Drydon Press, 1995, 7-14.
  28. Dutta, S., Narasimhan, O., & Rajiv, S.(1999). Success in High-Technology Market: Is Marketing Capability Critical. Marketing Science, 18(4), 547-568. https://doi.org/10.1287/mksc.18.4.547
  29. Grant, R. M.(1991). The resource-based theory of competitive advantage: Implications for strategy formulation. California Management Review, 33(3), 114-135. https://doi.org/10.2307/41166664
  30. Hadjimanolis, A.(2000). An investigation of innovation antecedents in small firm in the context of a small developing country. R&D Management, 30, 235-245. https://doi.org/10.1111/1467-9310.00174
  31. Hakansson, H., & Snehota, I.(1989). No Business is an island: The network concept of business strategy. Scandinavian Journal of Management, 5(3), 187-200. https://doi.org/10.1016/0956-5221(89)90026-2
  32. Ham, J. S., Cho, K. P., & Cho, H. J.(2014). A study to analyze the relationship between the internal competence and the competitive strategy of Korean corporations in China. chinese studies, 47, 325-362. https://doi.org/10.14378/KACS.2014.47.47.325
  33. Han, S. B.(2018). A Study on the Influence of CEO Characteristics and Information Activities of Small Business on Innovation Activities and Performance. Doctoral dissertation, Hoseo University.
  34. Han, S. H., Lee, J. H., & Seol, S. Y.(2014). A Study Success Factors on the Born Global Franchise. Journal of Franchise Management, 5(1), 5-25.
  35. Han, S. M., Im, Y. H., & Gu, B. G.(2004). The Effects of Sales Promotions in the Internet Shopping Malls. Journal of Consumer Studies, 15(1), 159-184.
  36. Hill, C., & Jones, C.(2004). Strategic Management Theory an intergrated approach, 6th ed. Boston; MA, Houghton Mifflin.
  37. Hitt, M. A., & Ireland, R. D.(1984). Corporate Distinctive Competence and perofrmance: Effects of Perceived Environmental Uncertainty. Size and Technology, Decision Science, 15(3), 324-326 https://doi.org/10.1111/j.1540-5915.1984.tb01222.x
  38. Hofer, C. W., & Schendel, D.(1978). Strategy formulation: Analytical concepts. St. Paul, MN: West, 1978.
  39. Jaakkola, M., Möller, K., Parvinen, P., Evanschitzky, H., & Mühlbacher, H.(2010). Strategic marketing and business performance: A study in three European 'engineering countries'. Industrial Marketing Management, 39(8), 1300-1310. https://doi.org/10.1016/j.indmarman.2010.06.005
  40. Jang, J. N.(2012). Start Up Strategies for Successful Franchise Business, Seoul: Dunam
  41. Jeon, I. O.(2010). An Empirical Study on Technology Commercialization of Incubated Small and Medium Enterprises. THE KOREAN SMALL BUSINESS REVIEW, 32(4), 127-143.
  42. Jeong, S. H., & Kim, H. R.(2001). An Exploratory Study on Success Factors in Small Business Startups. Journal of Entrepreneurship and Venture Studies, 4(2), 3-29.
  43. Jin, J. H.(2018). The Impact of Entrepreneurship of Small Business on Sustained Competitive Advantage: Focused on the mediating effects of marketing and innovation capabilities. Masters Thesis, Soongsil University.
  44. Kang, B. O., Lee, J. H., & Kim, J. S.(2009). A Study on Policies and Strategies for Fostering Franchise Industry by Analysing Critical Success Factors of Franchise Business. Journal of channel and retailing 14(5), 153-179.
  45. Kanungo, R. N., & Pang, S.(1973). Effects of Human Models on Perceived Product Quality. Journal of Applied Psychology, 57(2), 172-178. https://doi.org/10.1037/h0037042
  46. KB FINANCIAL GROUP RESEARCH.(2012). KB daily Knowledge vitamin. Overview of Franchise Industry, 12(20), 1-5.
  47. Kim, B. K., & Kim, J. H.(2016). Business Model Innovation And Its Application Case for Business Extension. Korean Management Consulting Review, 16(1), 159-172.
  48. Kim, D. H., & Shin, G. C.(2013). An Empirical Study on the Relationships among Marketing Environment, Capacity and Strategy on the Marketing Performance of SMEs. Academy of Customer Satisfaction Management, 15(1), 53-84.
  49. Kim, H. C.(2011). A Study on the Effects of the Fit between Competence and Strategy on Firm Performance in Venture Business. Korean Jouranl of Business Administration 24(2), 769-787.
  50. Kim, I. S., & Lee, E. M.(2011). The Impact of Business and Marketing Capabilities of Joint Brands on Performance. Koreanische Zeitschrift fuer Wirtschaftswissenschaften, 29(1), 111-131.
  51. Kim, J. J., & Yang, D. W.(2013). An Empirical Study on the Influence of Start-ups' Technology-Commercialization Competence on Their Survival. Journal of the Korean Data Analysis Society, 15(2), 1049-1061.
  52. Kim, J. Y., & Yoo, B. M.(2013). Characteristics of Franchise Systems in Different Development Stages. Journal of channel and retailing 18(1), 25-55.
  53. Kim, N. H., & Lee, J. H.(1997). Empirical Study on Organizational Culture Types, CEO Leadership Styles, and Behavioral Performance. Korean Journal of Management, 5(1), 193-238.
  54. Kim, S. H., & Suh, J. D.(2009). An Empirical Study on the Determinants of SMEs' Growth. The Asia Pacific Journal of Small Business, 31(2), 237-254.
  55. Kim, Y. G., Park, I. J., & Kwak, H. K.(2017). Restaurant Franchising from concept to reality. Kyeonggi; Kyomoonsa.
  56. Kwon, S. Y.(2016). A Study on the Competitive Advantages and Management Performance of Small-and-Medium Manufacturing Enterprises. Doctoral dissertation, Baejae University.
  57. Kim, Y. H.(2017). The Impact of Industrial Environment, Marketing Competence on Competitive Strategy and Business Performance in Agricultural-related Enterprise. Doctoral dissertation, Hoseo University.
  58. Moon, S. K.(2007). The Study on Success Factor of Franchise Business. Master's thesis, Dankook University.
  59. Lee, E. J., & Cho, C. H.(2013). A Longitudinal Study on the Effects of Franchise's Factors and Perform ance: Disclosure Agreement. Korea Journal of Business Administration, 26(8), 2185-2209.
  60. Lee, H. S.(2012). Regression analysis for social sciences research. Seoul; JHJBook.
  61. Lee, L. O., & Park, H. S.(2015). The Influence of Small Firm CEO's Entrepreneurial Attributes in the start-up phase on DFCA and Business Performance-Focus on Mediating Effects of DFCA. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 10(1), 69-82. https://doi.org/10.16972/APJBVE.10.1.201502.69
  62. Lee, J. W., Danny, M., Woo, S. J., & Son, J. W.(1993). The Fit Between Strategy and Environment and Performance in Two Technological Contexts. korean management review, 23(1), 149-172.
  63. Lee, J. Y., & Kim, P. J.(2011). A Study on the Ways of Preparation of Disclosure Document and its Utilisation in Franchising: From a Franchisor Viewpoint. Journal of Franchise Management, 2(2), 1-23.
  64. Lee, S. B.(2014). A study on the Effect of Characteristics of CEO and Competency in Venture Companies on the Organiational effectiveness: Including the Mediating Effect of Corporate Strategy. Doctoral dissertation, Hoseo University.
  65. Lee, S. S., & Jang, H. W.(2005).An Empirical Study on the Fit among Global Sourcing, Competitive Strategy, and Strategic Flexibility. Korean Journal of Business Administration, 18(1), 175-202.
  66. Lee, Y.(2010). A study on characteristics of food service franchise enterprise: analysis of the UFOC. Masters Thesis, Kyung Hee University.
  67. Lynch, J., & Schuler, D.(1994). The Matchup Effect of Spokesperson and Product Congruency: A Schema Theory Interpretation. Psychology and Marketing, 11(5), 417-445. https://doi.org/10.1002/mar.4220110502
  68. Mahoney, J. T. (1995). The management of resources and the resource of management. Journal of business research, 33(2), 91-101. https://doi.org/10.1016/0148-2963(94)00060-R
  69. Miller, D.(1991). Statein the Saddle: CEO Tenure and Match between Organization and Environment. Management Science, 37, 34-52. https://doi.org/10.1287/mnsc.37.1.34
  70. Miller, D., & Covin, J. G.(2014). International Entrepreneurial Orientation: Conceptual Considerations, Research Themes, Measurement Issues, and Future Research Directions. Entrepreneurship Theory and Practice, 38(1), 11-44. https://doi.org/10.1111/etap.12027
  71. MOTIE(2019). 2018 Franchise Market Research. Report.
  72. MSS(2019). Scope of Small and Medium Enterprises. Retrieved from https://www.mss.go.kr/site/smba/01/10106060000002016101111.jsp
  73. Morgan, N., Kaleka, A., & Katsikeas, C.(2004). Antecedents of export venture performance: a theoretical model and empirical assessment. Journal of marketing, 68, 98-108.
  74. Noh, Y. J., & Lim, H. C.(2014). A Study on the Decision Models of Food Service Franchise and the Its Success Factors. Korean Review of Corporation Management, 5(2), 111-127
  75. Othman, R., Arshad, R., Aris, N. S., & Arif, M.(2015). Organizational Resources and Sustained Competitive Advantage of Cooperative Organizations in Malaysia, Procedia. Social and Behavioral Sciences, 170, 120-127.
  76. Park, J. B.(2011). A Study on Relations among Environment, Strategy, and Performance of Technology Transfer Intermediaries in Korea. Journal of Industrial Economics and Business, 24(1), 275-302.
  77. Park, J. Y.(2013). The Influence of Entrepreneurial Characteristics and Social Capital on Entrepreneurial Intentions. Doctoral dissertation, Hoseo University.
  78. Park, J. Y., Choi, S. S., & Hong, S. K.(2011). The Effects of Market Orientation, Marketing Capability on Competitive Advantage and Performance in SME. Korean Jouranl of Business Administration 24(2), 1115-1137.
  79. Park, M. Y.(2015). The Effects of Traditional Competencies and Organizational Competency of a Corporation on Economic and Social Performance. Doctoral dissertation, Soongsil University
  80. Peng, S. C., & Robert, T. J.(1993) To franchise or not to franchise?. Management Decision, 31(5), 22-26.
  81. Porter, M. E.(1985). Competitive Advantage: Creating and Sustaining Superior Performance, FreePress, New York
  82. Preble, J. F., & Hoffman, R. C.(2003). Business format franchisors: Strategies for conquering the global marketplace. In Samii, M.V., Dasari, U., & Brennan, J. (Eds.). Proceedings of the Academy of International Business: Northeast(1-16). Conference held at Southern New Hampshire University, Manchester, New Hampshire, (October 2-4).
  83. Reid, R. D., & Sanders, N.(2007). Operations Management: An Integrated Approach. USA: Willey.
  84. Ripolles, M., & Blesa, A.(2012). International new ventures as "small multinationals": The importance of marketing capabilities. Journal of World Business, 47(2), 277-287 https://doi.org/10.1016/j.jwb.2011.04.015
  85. Romijn, H. A., & Albaladejo, M.(2002). Determinants of innovation capability in small electronics and software firms in Southeast England. Research Policy, 31(7), 1053-1067. https://doi.org/10.1016/S0048-7333(01)00176-7
  86. Schendel, D. E., & Hofer, C. W.(1979). Strategic Management: A New View of Business Policy and Planning. Boston: Little, Brown and Company.
  87. Selznick, P.(1957). Leadership in Administration: A Sociological Interpretation. N.Y; Harper & Row.
  88. Shefer, D., & Frenkel, A.(2005). R&D, Firm Size and Innovation: An Empirical Analysis. Technovation, 25(1), 25-32. https://doi.org/10.1016/S0166-4972(03)00152-4
  89. Shim, K. J.(2011). Research on the internal resource factors that affect financial performance of innovative SMEs: Based on the empirical studies conducted in accordance with SME classification of 'Ventures', 'Technology Innovation Businesses', and 'Management Innovation Businesses'. Doctoral dissertation, Kyunghee University.
  90. Snow, C. C., & Hrebiniak, L. G.(1980). Strategy, Distinctive Competence and Organizational Performance. Administrative Science Quarterly, 25, 317-336 https://doi.org/10.2307/2392457
  91. Shon, H. J.(2006). A study on the success Factors of a Small Business Start-Up. Masters Thesis, Gyeongsang National University.
  92. Sigalas, C.(2015). Competitive advantage: the known unknown concept. Management Decision, 53(9). 2004-2016. https://doi.org/10.1108/MD-05-2015-0185
  93. Sigalas, C., & Pekka-Economou, V.(2013). Revisiting the concept of competitive advantage: Problems and fallacies arising from its conceptualization. Journal of Strategy and Management, 6(1), 61-80. https://doi.org/10.1108/17554251311296567
  94. Song, J. H., & Jo, G. B.(2018). Success Factors Analysis of Domestic Franchise Business: A Study on the CEO of Kwangju and Jeonnams. Journal of the Korea Society of Computer and Information, 23(4), 155-165. https://doi.org/10.9708/JKSCI.2018.23.04.155
  95. Souitaris, V.(2002). Firm-specific competencies determining technology innvation: A survey in Greece. R&D management 32, 61-77. https://doi.org/10.1111/1467-9310.00239
  96. Stalk, G., Evans, P., & Shulman, L.(1992). Competing on Capabilities: The New Rules of Corporate Strategy. Harvard Business Review, March-April, 57-69.
  97. Stern, L. W., & El-Ansary, A.(1988). Marketing Channels, 3rd ed, Englewood Cliffs, NJ: Prentice-Hall.
  98. Suh, G. H., & Yoon, S. W.(2002). An Exploratory Study on Success Factors and Performance Improvement in Small Business Startups. Journal of management, 15, 19-40.
  99. Tamiya, M.(2006). Business Strategies for Franchiser. Seoul; Baek-San Publishing Co.
  100. Theodosiou, M., Kehagias, J., & Katsikea, E.(2012). Strategic orientations, marketing capabilities and firm performance: An empirical investigation in the context of frontline managers in service organizations. Industrial Marketing Management, 41(7), 1058-1070. https://doi.org/10.1016/j.indmarman.2012.01.001
  101. Till, B. D., & Busler, M.(2010). The Match-Up Hypothesis: Physical Attractiveness, Expertise, and the Role of Fit on Brand Attitude. Purchase Intent and Brand Beliefs. Journal of Advertising, 29(3), 1-13. https://doi.org/10.1080/00913367.2000.10673613
  102. Ulrich, D., & Lake, D.(1990). Organizational capability. New York: John Wiley & Sons
  103. Veciana, J. M., Aponte, M., & Urbano, D.(2005). University students' attitudes towards entrepreneurship: a two countries comparison. International Entrepreneurship and Management Journal, 1 (2), 165-182. https://doi.org/10.1007/s11365-005-1127-5
  104. Venkatraman, N., & Camillus, J. C.(1984), Exploring the Concept of Fit in Strategic Management. Academy of Management Review, 9(3), 513-525. https://doi.org/10.5465/AMR.1984.4279696
  105. Vorhies, D. W., & Morgan, N. A.(2005). Benchmarking Marketing Capabilities for Sustainable Competitive Advantage. Journal of Marketing, 69(1), 80-94. https://doi.org/10.1509/jmkg.69.1.80.55505
  106. Wernerfelt, B.(1984). A Resource Based View of the Firm. Strategic Management Journal, 5, 171-180. https://doi.org/10.1002/smj.4250050207
  107. West, S. G., Finch, J. F., & Curran, P. J.(1995). Structural Equation Models with Non Normal Variables: Problems and remedies. In: Hoyle, R.H., Ed., Structural Equation Modeling: Concepts, Issues, and Applications, Sage, Thousand Oaks, 56-75.
  108. Wind, Y.(2005). Marketing as an engine of business growth: A cross-functional perspective. Journal of Business Research, 58(7), 863-873 https://doi.org/10.1016/j.jbusres.2004.01.002
  109. Woo, M. N., & Koo, C. M.(2016). The Influence of Tangible and Intangible Resources on the Performance in Food Franchise Industry: The Resources-based View. Journal of the Korea Service Management Society, 17(2), 291-312.
  110. Yam, R. C., Guan, J. C., Pun, K. F., & Tang, E. P.(2004). An audit of technological innovation capabilities in Chinese firms: some empirical findings in Beijing. China. Research policy, 33(8), 1123-1140. https://doi.org/10.1016/j.respol.2004.05.004
  111. Yang, Y. I.(2012). The Effects of Resource Orientation on Marketing Innovation, Sustained Competitive Advantage and Performance. Journal of Marketing Studies, 20(1), 33-52.
  112. Zahra, S. A., & Covin, J. G.(1995). Contextual Influences on the Corporate Entrepreneurship-performance Relationship: A Longitudinal Analysis. Journal of Business Venturing. 10(1), 43-58. https://doi.org/10.1016/0883-9026(94)00004-E
  113. Zahra, S. A., & George, G.(2002). Absorptive Capacity: A Review, reconceptualization, and Extension. The Academy of Management Review, 27(2), 185-203. https://doi.org/10.5465/amr.2002.6587995
  114. Zirger, B. J., & Maidique, M.(1990). A model of new product development: An empirical test. Management Science, 36, 867-883. https://doi.org/10.1287/mnsc.36.7.867