The focal role of market orientation as a driver of firm performance is challenged by rising institutional pressures to contribute positively to society and the environment. Previous research has not investigated trade-offs between financial-value- and sustainability-related strategic orientations and the effect on firm outcomes that enable holistic value creation. This study addresses this knowledge gap by drawing on a sample of 43 firms in the food industry for the period 2016-2021 (199 firm-years and 36,728 product introductions). We found a concave relationship between financial-value- and sustainability-related strategic orientation and a positive relationship between sustainability-related strategic orientation and social value creation and financial value creation. Our findings contribute to the marketing strategy literature by empirically demonstrating the enabling role of sustainability-related SO in responding to competing logics, and to the innovation management literature by highlighting the role of innovation portfolios in balancing contesting business goals.
