The impact of market orientation on the financial performance of MSMES (micro, small and medium enterprises) in Bogotá

Abstract

This paper presents a study of the Market Orientation (MO) concept and its relationship with Financial Performance (FP) in Bogotá-based MSMEs. The primary source of information was collected using the MARKOR (Kohli & Jaworski, 1990) scale, adapting it to the SMEs’ context in Bogotá. The findings were processed with a set of simple linear regressions that aimed to evaluate each dimension of Market Orientation’s impact on the MSMEs’ financial performance. Subsequently, each of these dimensions (intelligence generation; intelligence dissemination; response planning; and response implementation) were taken as independent variables. Furthermore, Net Sales and Operating Profit, and their ratio to assets, along with performance managers’ financial perception, were used as dependent variables. Finally, the results revealed that all five tested models were not statistically strong enough to conclude that Financial Performance is directly impacted by the Market Orientation construct, given that the former results did not show an adjusted R value greater than 75 percent.

Authors

  • Ricardo A. Vega Rodríguez
  • Sandra P Rojas Berrio

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Author Biographies


Masters in Business Administration and Pharmacist. University  teacher and researcher in the  Department of Marketing at the Institución Universitaria Politécnico Grancolombiano

Masters in Business Administration and Business Administrator. Research, Development and Innovation Director at the  Institución Universitaria Politécnico Grancolombian
Published
2012-06-05
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How to Cite
Vega Rodríguez, R., & Rojas Berrio, S. (2012). The impact of market orientation on the financial performance of MSMES (micro, small and medium enterprises) in Bogotá. Cuadernos De Administración, 27(46), 131-140. https://doi.org/10.25100/cdea.v27i46.87
Section
Research