Leveraging internal resources and external business networks for new product successA dynamic capabilities perspective

Junfeng ZHANG*, Wei Ping WU

*Corresponding author for this work

    Research output: Contribution to journalJournal articlepeer-review

    74 Citations (Scopus)

    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
    DOIs
    Publication statusPublished - 1 Feb 2017

    Scopus Subject Areas

    • Marketing

    User-Defined Keywords

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

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