**6. Limitations and future research**

other foreign markets [19, 56, 95–98]. As Javalgi et al. [99: p.15] point out, in current dynamic contexts BGs 'must listen to and correctly interpret the voice of the market. […] Firms that lose touch with the market, that either ignore or misinterpret its signals, will fail in hyper-

Specifically, our findings contribute to the specialised literature with various relevant theoretical and empirical implications. First, gradualist models emphasise experience as an essential factor in the firm's internationalisation process by centring on determining the most relevant sources of external market knowledge [1]. However, the experience derived from physical presence in foreign markets is minimal in the case of BGs due to their recent creation. Experience cannot therefore be considered as the main source of knowledge BGs use in their entry into foreign markets. For this reason, a growing number of scholars highlight the role of vicarious knowledge from relations in networks as key source of external information and knowledge in BGs [56, 57]. As Lin and Chen [65: p.160] note, 'relationships between firms in a network context constitute an inter-organisational scenario for the exchange, compilation, integration and development of resources and valuable complementary knowledge that originally come from individual agents'. The links a BG builds into its network from its creation give it access to external information, knowledge, experiences and resources that it can apply internally [22]. In line with these arguments, the construct of NMO can be seen as a reference for determining how BGs generate and manage

Second, based on ref. [37], our research enables theoretical identification and empirical testing of the behaviours and basic mechanisms that characterise the development of a coordinated market orientation among firms in BG networks. Our study responds to previous calls emphasising the need to complete the assumptions of individual market orientation with a relational view [43, 100, 101]. These findings show that the market orientation construct must be applied at individual and also network level [101], thereby supplementing the existing literature on the importance of individual market orientation

Furthermore, our results show that the knowledge these firms derive from their marketoriented networks helps them to develop an absorptive dynamic capability in order to act sustainably in their international markets. Therefore, BGs' development of absorptive capability should not be understood as a completely internal process, but as a relational process. This finding contributes to the discussion around the lack of attention paid to identifying the main variables beyond BG competitiveness [13, 71–73]. Indeed, our study responds to some authors' remarks that, despite the growing interest shown in recent years as a result of the intense process of globalisation in the markets, the theoretical and empirical knowledge about the internal and external antecedents of the international performance of new companies remains insufficient [13, 72, 73, 104, 105]. Our study complements previous literature in which analysis of these variables has tended to adopt an individual approach, highlighting the relevance for BGs of developing a market orientation [102, 103], an entrepreneurial orientation [3, 106, 107] or specific capabilities such as marketing and managerial capabilities

competitive environments'.

58 Knowledge Management Strategies and Applications

vicarious knowledge.

in BGs [102, 103].

[7, 22, 108, 109].

The interpretation of the conclusions derived from this study should take into account some limitations, which lead us to propose certain future lines of research.

Regarding the theoretical limitations, our study proposes one particular model of effects to which other new relationships may be added, taking into account additional variables to complete the explanation of the achievement of competitive advantages and international performance by BGs.

Additionally, considering that our study complements the results from previous works that demonstrate from an individual perspective the influence of BGs' market orientation on their competitiveness, future research could explore the relationship between an NMO and a particular market orientation.

Moreover, taking into account that BGs' main internationalisation decisions are related to the speed and the mode they enter new foreign markets, future studies could analyse the influence of an NMO on different levels of speed and modes of entry.

Methodological limitations include the use of a single nation sample, since our findings may not be generalised to other national contexts. Future research could replicate and contrast the hypotheses presented in our work in other countries. We also used a multi-sector sample. Considering that networks may differ in their behaviour, structure and performance, future research could explore sectors, facilitating a larger homogeneity of firms and networks.

Another methodological limitation concerns the use of a single interviewee response per network and firm. This raises two questions: (1) Can the manager of an individual firm respond to questions on how a network of companies works as a whole? and (2) Similarly, can a single interviewee represent an entire company in his or her responses?

Further doubts may arise on the question of who actually responded to the questionnaire, bearing in mind that it was distributed online.

Finally, to make causal inferences using cross-sectional data can limit the value of the results. New research could usefully analyse the proposed model of effects with longitudinal data.
