Exploring the characteristics of the market-driven firms and antecedents to sustained competitive advantage

During the last few decades, identifying and examining the characteristics of market-driven firms have been a dominant theme in strategic marketing research. It has been argued that market-driven firms are superior in their market sensing and customer linking capabilities, enabling market-driven firms to outperform their competitors. This paper reports the findings of a study that examines the role market-focused learning capability and marketing capability in innovation-based competitive strategy on sustainable competitive advantage. The findings indicate that entrepreneurship is an important factor in sustained competitive advantage (SCA) and while market-focused learning capability leads to higher degrees of innovation, marketing capability enables SCA. (C) 2003 Elsevier Inc. All rights reserved.

Genetic algorithm-based spinning reserve dispatching in a competitive electricity market

Power systems rely greatly on ancillary services in maintaining operation security. As one of the most important ancillary services, spinning reserve must be provided effectively in the deregulated market environment. This paper focuses on the design of an integrated market for both electricity and spinning reserve service with particular emphasis on coordinated dispatch of bulk power and spinning reserve services. A new market dispatching mechanism has been developed to minimize the ISO's total payment while ensuring system security. Genetic algorithms are used in the finding of the global optimal solutions for this dispatching problem. Case studies and corresponding analyses haw been carried out to demonstrate and discuss the efficiency and usefulness of the proposed market.

Composite auction method for suppressing unreasonable electricity price spikes in a competitive electricity market

The existence of undesirable electricity price spikes in a competitive electricity market requires an efficient auction mechanism. However, many of the existing auction mechanism have difficulties in suppressing such unreasonable price spikes effectively. A new auction mechanism is proposed to suppress effectively unreasonable price spikes in a competitive electricity market. It optimally combines system marginal price auction and pay as bid auction mechanisms. A threshold value is determined to activate the switching between the marginal price auction and the proposed composite auction. Basically when the system marginal price is higher than the threshold value, the composite auction for high price electricity market is activated. The winning electricity sellers will sell their electricity at the system marginal price or their own bid prices, depending on their rights of being paid at the system marginal price and their offers' impact on suppressing undesirable price spikes. Such economic stimuli discourage sellers from practising economic and physical withholdings. Multiple price caps are proposed to regulate strong market power. We also compare other auction mechanisms to highlight the characteristics of the proposed one. Numerical simulation using the proposed auction mechanism is given to illustrate the procedure of this new auction mechanism.

Optimal dispatch of spinning reserve in a competitive electricity market using genetic algorithms

Ancillary service plays a key role in maintaining operation security of the power system in a competitive electricity market. The spinning reserve is one of the most important ancillary services that should be provided effectively. This paper presents the design of an integrated market for energy and spinning reserve service with particular emphasis on coordinated dispatch of bulk power and spinning reserve services. A new market dispatching mechanism has been developed to minimize the cost of service while maintaining system security. Genetic algorithms (GA) are used for finding the global optimal solutions for this dispatch problem. Case studies and corresponding analyses have been carried out to demonstrate and discuss the efficiency and usefulness of the proposed method.

Market orientation of service networks:direct and indirect effects on sustained competitive advantage

Market orientation is an organization-wide concept that helps explain sustained competitive advantage (SCA). Since networks become ever more important, especially in the service sector, there is need to expand the concept of MO to a network setting. In line with Narver and Slater (1990), the concept of Market Orientation of Networks (MONW) is developed. This study indicates how MONW relates to the resource-based view (RBV) of the firm and the industrial organization (IO) view in explaining SCA. It is argued that MONW has direct and indirect effects on SCA. More precisely, the antecedent effect of MONW to resources and industry structure is considered.

"Minimálbér-paradoxon" versenyzői munkaerőpiacon? ("Minimum-wage paradox" in a competitive labour market? Lessons from an experimental line of thought)

A versenyzői munkaerőpiac hagyományos kereslet-kínálati modellje az egyensúlyi bérszintet meghaladó minimálbér következményeként az egyensúlyi bérszint mellettinél alacsonyabb foglalkoztatást jósol; minél magasabb a minimálbér, annál alacsonyabbat. Empirikus vizsgálatok szerint ugyanakkor a minimálbér-emelés nem feltétlenül csökkenti a foglalkoztatást - ezt nevezik minimálbér-paradoxonnak -, ami legkézenfekvőbben a munkáltatók munkaerő-piaci monopszonerejével látszik magyarázhatónak. Ezzel szemben az a gondolatkísérlet, amelyről ez a cikk beszámol, általánosabb érvényű, versenyzői munkaerőpiacot feltételező magyarázat kidolgozására irányul. / === / In the conventional textbook demand/supply model of competitive labour markets, the introduction of a minimum wage above market-clearing level must reduce employment. Empirical findings suggest, however, that this may not always be the case, a finding most readily explained by monopsonistic competition in the labour market. The experimental line of thought reported here explores an alternative root, interpreting the "minimum-wage paradox" as the outcome of a competitive labour market that displays friction.

Measuring internal market orientation

Internal marketing has been discussed in the management and academic literature for over three decades, yet it remains ill defined and poorly operationalized. This paper responds to calls for research to develop a single clear understanding of the construct, for the development of a suitable instrument to measure it, and for empirical evidence of its impact. Existing, divergent conceptualization of internal marketing are explored, and a new, multidimensional construct, describing the managerial behaviors associated with internal marketing is developed, and termed internal market orientation (IMO). IMO represents the adaptation of market orientation to the context of employer-employee exchanges in the internal market. The paper describes the development of a valid and reliable measure of IMO in a retail services context. Five dimensions of IMO are identified and confirmed. These are 1) formal written information generation, 2) formal face-to-face information generation, 3) informal information generation, 4) communication and dissemination of information, and 5) responding to this internal market information. The impact of IMO on important organizational factors is also explored. Results indicate positive consequences for customer satisfaction, relative competitive position, staff attitudes, staff retention and staff compliance.