Abstract

A new construct called market-scanning capability has been conceptualized that captures firms’ capability to
sense or to respond to the changes in the marketplace. The second-order reflective construct was found to have
four first-order components that are named as CustInfo (i.e., collection of information about customers),
CmpInfo (i.e., information regarding competitiveness), MktResp (i.e., responsiveness to collected market-related
information) and Coord (i.e., coordination among different business units of the firm). The first-order
components of market-scanning capability construct provide a theoretical understanding useful to the
practitioners who want to design the business processes to revamp the market-scanning capability of their
organizations.

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