THE MARKETING-ENTREPRENEURSHIP PARADOX: A FREQUENCY-DOMAIN ANALYSIS
The notion of entrepreneurship is not new, but entrepreneurship is continuously searching for new ideas while increasing their applications (Morris & Trotter, 1990; Morris, Lewis, & Sexton, 1994). Marketing and entrepreneurship are broadening their ﬁeld of synergic activity, but some gaps in this interaction still remain (Bhuian, Menguc, & Bell, 2005). Numerous studies have indicated the link between marketing and entrepreneurship (Murray, 1981; Morris & Paul, 1987; Herron, Sapienza, & Smith-Cook, 1992; Hills & LaForge, 1992; Becherer & Maurer, 1998; Morris, Schindehutte & LaForge, 2002; Kraus, Harms, & Fink, 2010; Gilmore, 2011, Hills & Hultman, 2011; Hultman & Hills 2011; Kurgun, Bagiran, Ozeren, & Maral, 2011; Morrish, 2011; Busenitz, Plummer, Klotz, Shahzad, & Rhoads, 2014), but a number of research question have remained underexplored.
Jméno a příjmení autora:
Slavka T. Nikolić, Nikola Gradojević, Vladimir Đaković, Valentina Mladenović, Jelena Stanković
Marketing, entrepreneurship, causality, frequency-domain, innovation
DOI (& full text):
The areas of overlap between the disciplines of marketing and entrepreneurship are substantial and they provide a wide variety of opportunities for multidisciplinary research. This paper lays out…více
The areas of overlap between the disciplines of marketing and entrepreneurship are substantial and they provide a wide variety of opportunities for multidisciplinary research. This paper lays out multidisciplinary foundations for the formal theoretical and practical treatment of the interaction between marketing, entrepreneurship and proﬁ tability in an organization. The focus of this research is on a company’s success as a function of organizational changes and the level of acceptable risk, measured by its proﬁ tability. The contribution to the literature on the relationship between entrepreneurship and marketing is reﬂected in a new approach that relies on the multi-scale (i.e., frequency-dependent) approach or the so-called “spiral of success”. In addition, this paper highlights the necessity for dynamic abilities and innovative character in an organization. More broadly, it explains an important theoretical paradox that organizations always face high risk, but, in order to survive in business, they need to enter new cycles of entrepreneurial activities (innovation and diversiﬁcation) that involve even more risk. The novelty of this study lies in its application of the causality tests in the frequency domain for the bivariate system in order to demonstrate the marketing-entrepreneurship paradox. This is, to the authors’ best knowledge, the ﬁrst paper that uses such a methodology in marketing and entrepreneurship. The paper’s principal hypothesis is tested on a well-diversiﬁed company (Amazon.com) where it is shown that marketing drives changes in net income at both medium and long horizons, but not vice-versa. The ﬁndings and related discussions can be useful to academics and practitioners, as well as to public policy-makers.