Seizing the moment in the flux of Industry 4.0: technological opportunism, innovativeness and new product performance in international markets

Jinwan Cho, Insik Jeong, Eunmi Kim and Hyo Eun Cho

European Journal of Innovation Management, 2022, vol. 27, issue 4, 1134-1159

Abstract: Purpose - Recent technological turbulence stemming from Industry 4.0 provides managerial opportunities and challenges simultaneously. In this context, the purpose of this study is to explore the role of technological opportunism on innovativeness and discover the impact of innovativeness on new products performance in international markets. Design/methodology/approach - To empirically test the hypotheses, the authors have collected survey data from 237 Korean exporting firms and applied structural equation modeling. Findings - Empirical results indicate that technological opportunism, which represents technology sensing and responding capability, has a positive and significant influence on both exploratory and exploitative innovativeness. Also, explorative and exploitative innovativeness have positive and significant effects on new product performance in international markets. Practical implications - This study highlighted the importance of technology sensing and responding capabilities to capture emerging opportunities, which may arise from Industry 4.0 technologies. In addition, sensing and responding capabilities will help a firm create a culture that values innovative proclivity, and in turn, will lead to superior new product performance in international markets. Originality/value - Despite extensive scholarly interest in Industry 4.0, previous studies have neglected to address the potential impact of Industry 4.0 within the domain of new product development and its performance. Also, there have been several calls from the literature to address the managerial and strategic issues surrounding the Industry 4.0 phenomenon. In this study, the authors attempted to fill the research gaps in Industry 4.0 research studies through empirical examination.

Keywords: Technological opportunism; Innovativeness; New product performance; Industry 4.0; International markets (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ejimpp:ejim-04-2022-0181

DOI: 10.1108/EJIM-04-2022-0181

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