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This study investigates how market turbulence, technological turbulence, and competitive intensity affect the perceived importance of innovation and innovativeness, and thus SMEs' business performance. Structural equation modeling is conducted on a sample of 373 SMEs. Our findings show that both market and technological turbulence increase the perceived importance of innovation, but only market turbulence impacts SMEs' innovativeness directly. The perceived importance of innovation mediates environmental turbulence's influence on a firm's innovativeness. Competitive intensity has no significant effect on the perceived importance of innovation and innovativeness. Finally, innovativeness enhances business performance when using both perceptual and lagged objective performance data.

Purpose -The paper's purpose is to broaden knowledge of customer satisfaction and loyalty in business-to-business markets. Design/methodology/approach -The authors propose and test a model in which customer satisfaction is conceived as mediating the relationship between the elements of relationship value (price, product quality, delivery performance, supplier know-how, time-to-market, service support and personal interaction) and attitudinal and behavioural customer loyalty. The empirical analysis uses structural equation modelling and is based on 477 customer-supplier relationships in the manufacturing context. Findings -The results show that satisfaction is negatively affected by price and positively by delivery performance, supplier know-how and personal interaction. On the other hand, satisfaction positively influences behavioural and attitudinal loyalty. In addition, behavioural loyalty is also negatively affected by price and positively by product quality, while attitudinal loyalty is positively affected by personal interaction.Research limitations/implications -Future research could add views from the supplier's side and also examine the focal relationship in a network of relationships. The model should be cross-validated with the same instruments in other contexts. Practical implications -The paper's main finding that satisfaction is more affected by delivery performance, supplier know-how and personal interaction than by price holds direct implications for generic business strategies. By building unique relationships with their customers, suppliers can demonstrate they have something different to offer when there is strong market pressure on price. In addition, the finding that the antecedents of behavioural loyalty are more "rational" and "firm-related", while the antecedents of attitudinal loyalty are more "emotional" and "individualrelated", can be used by marketers to improve the relationships with their customers. Originality/value -The paper systematically addresses the antecedents of customer satisfaction and loyalty from the perspective of relationship value dimensions -an approach that has not yet been taken in the literature.

The paper's purpose is to add to the body of knowledge on the antecedents of a company's competitive advantage and performance by developing and testing a conceptual model. By using structural equation modelling the model is tested on a sample of 182 Slovenian companies. The results show that a cost advantage is positively affected by financial resources and customer capital, while a differentiation advantage is positively affected by financial resources and all three components of intellectual capital. In addition, both forms of competitive advantage positively influence a company's performance. The results offer important theoretical implications in fields such as resource-based theory and customer relationship management as well as important practical implications for managers. Das Ziel dieses Artikels ist es, unseren Wissensstand über die Einflussfaktoren auf den Wettbewerbsvorteil und den Unternehmenserfolg zu erweitern, indem ein konzeptuelles Modell entwickelt und geprüft wird. Durch die Verwendung der struktuellen Gleichungsmodellierung wird das Modell mit einem Sample von 182 slowenischen Unternehmen geprüft. Die Ergebnisse zeigen, dass ein Kostenvorteil durch finanzielle Mittel und Kundenkapital positiv beeinflusst wird, während ein Differenzierungsvorteil duch finanzielle Mittel und alle drei Komponenten des intellektuellen Kapitals positiv beeinflusst wird. Außerdem haben beide Formen von Wettbewerbsvorteil einen positiven Einfluss auf den Unternehmenserfolg. Die Ergebnisse haben wichtige theoretische Implikationen für Bereiche wie die ressourcenbasierte Theorie und das Kundenbeziehungsmanagement sowie wichtige praktische Implikationen für Führungskräfte.