Kriez Academy
Vol. 1 No. 6 (2024): Kriez Academy - May

UNDERSTANDING THE RELATIONSHIP BETWEEN MARKET ORIENTATION, FAILURE LEARNING ORIENTATION, AND FINANCIAL PERFORMANCE

Ruchiyat, Endang (Unknown)
Ayu Amrita , Nyoman Dwika (Unknown)
Budi Raharja , Arif (Unknown)



Article Info

Publish Date
06 May 2024

Abstract

This study discusses the relationship between market orientation, failure learning orientation, and company financial performance. Market orientation reflects a company's ability to identify and respond effectively to market needs, while failure learning orientation emphasizes the importance of learning from negative experiences to improve innovation and operational efficiency. The main objective of this research is to understand how the integration between a strong market orientation and a failure learning orientation can affect a company's financial performance. This research uses a literature study approach by analyzing various relevant journal articles, textbooks and research reports. The results of the literature analysis show that a strong market orientation is positively related to increasing company revenues through product development that is more in line with customer needs and the effectiveness of marketing strategies. In addition, a strong market orientation is also associated with increased profitability through appropriate pricing strategies and high customer retention. On the other hand, failure learning orientation plays a crucial role in enhancing corporate innovation. The ability to learn from mistakes allows organizations to design better products or services, avoid similar risks in the future, and adapt to market changes. Literature research also shows that companies that are able to integrate a failure learning orientation in their organizational culture tend to be more adaptive and innovative. Furthermore, integration between a strong market orientation and a failure learning orientation can produce better financial results. Companies that have a strong focus on market needs and are open to learning from failure tend to experience higher revenue growth, improve operational efficiency, and create sustainable competitive advantages. Thus, this research concludes that the strategic combination of a strong market orientation and failure learning orientation can make a significant contribution to a company's financial performance in facing a dynamic business environment.  

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Journal Info

Abbrev

kriezacademy

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Industrial & Manufacturing Engineering Social Sciences

Description

KRIEZ ACADEMY as a journal that places community development and service as its main focus, is pleased to receive research articles from community service projects. We invite researchers, academics, and practitioners to contribute with research that is not only academically orientated but also has a ...