Leveraging internal resources and external business networks for new product success: A dynamic capabilities perspective

Junfeng Zhang, Wei-Ping Wu

Research output: Contribution to journalArticle

26 Citations (Scopus)
1 Downloads (Pure)

Abstract

Internal resources such as technological and human capital, together with a firm's business network, are vital sources of knowledge for new product development. Previous studies largely assume that a firm's internal resources and its external resources embedded in a business network are complementary in new product development. This study draws on the dynamic capabilities perspective to take the existing literature one step further. Our hypotheses were tested using a sample of 130 Chinese manufacturing firms in high-technology industries. Interestingly, the findings reveal a more complex picture of resource interplay between internal resources and external resources embedded in a firm's business network. More specifically, the findings show that a firm's power in its business network influences the effect of its internal resources on its ability to sense and seize opportunities, a vital dynamic capability. More importantly, the findings suggest that such dynamic capability plays a pivotal role in translating the benefits of resource-interplay into new product success.
Original languageEnglish
Pages (from-to)170-181
Number of pages12
JournalIndustrial Marketing Management
Volume61
Early online date8 Jun 2016
DOIs
Publication statusPublished - 28 Feb 2017

Keywords

  • New product success
  • Dynamic capabilities
  • Network power
  • Technological capital
  • Human capital

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