Matej Galić, Željko Sudarić, Marko Galić
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EFFECT OF UNPREDICTABLE CHALLENGES IN MARKET CULTURE AND ENVIRONMENTAL COMPLEXITY
Abstract: Nowadays, management is challenging with various unpredicting economic, political, and technological changes. Management controlling facing unpredictable changes, which require major adaptability. Recently, there have been major changes in the world that have an impact on the overall market culture. This study aimed to investigate market culture orientation in the context of the diversity of product requirements and the diversity of competitor strategies. Cross-sectional research was performed, using an online self-administered questionnaire. This study included 68 adult working- age participants (63.2 % males). The web-based survey included market culture and environmental complexity scope. The main findings of this study showed that there are significant relations between various market culture orientations and environmental complexity. Diversity of product requirements is related to almost all market culture orientations, except manager leadership orientation. The greater the diversity of product requirements, the greater is orientation to competitiveness, goal accomplishment and achievement, leadership, and result-oriented market culture. However, diversity of competitor strategies is related only to market leadership orientation and result-oriented market culture. These findings give insight into the importance of market culture regarding the levels of environmental complexity, which could be crucial in planning effective models of a company’s market orientation.
Keywords: market culture, environmental complexity, challenges, orientations, management control system