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Book part
Publication date: 23 September 2005

Stephanie A. Fernhaber and Patricia P. McDougall

International new ventures have been argued to seek foreign markets from inception in response to the external environment and/or motivations internal to the firm. For…

Abstract

International new ventures have been argued to seek foreign markets from inception in response to the external environment and/or motivations internal to the firm. For example, a new venture that exists in an industry that is more globally integrated is more likely to have a need to internationalize in order to remain competitive (Shrader, Oviatt, & McDougall, 2000). Similarly, those new ventures that have limited domestic growth due to the size of their home country may look elsewhere in order to gain a sufficient level of sales to survive (Zahra & George, 2002). Some of the many firm-specific motivations to internationalize might include the desire to fully exploit a unique product (Burgel & Murray, 2000; Oviatt & McDougall, 1994, 1995), capitalize on the learning advantage of newness (Autio, Sapienza, & Almeida, 2000) or take advantage of networking opportunities (Reuber & Fischer, 1997).

Details

International Entrepreneurship
Type: Book
ISBN: 978-0-76231-227-6

Article
Publication date: 19 November 2008

Stephen K. Callaway

Two hot topics today in the popular press as well as academic literature are international entrepreneurship and corporate entrepreneurship. These topics challenge two…

Abstract

Two hot topics today in the popular press as well as academic literature are international entrepreneurship and corporate entrepreneurship. These topics challenge two traditional notions within those fields: the difficulty of established corporations to be entrepreneurial and the difficulty of entrepreneurs to go global. The current study introduces the concept global corporate ventures, which merges the concepts internal corporate ventures and “born globals.” This concept is developed and illustrated by two examples of global corporate ventures, ING Direct and HSBC Direct, two financial services e‐commerce ventures that have been launched on a global scale.

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Multinational Business Review, vol. 16 no. 3
Type: Research Article
ISSN: 1525-383X

Keywords

Article
Publication date: 27 April 2010

Huan Zou and Pervez N. Ghauri

The purpose of this paper is to understand how high‐tech firms from China internationalize and to determine whether they follow the gradual internationalization model…

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Abstract

Purpose

The purpose of this paper is to understand how high‐tech firms from China internationalize and to determine whether they follow the gradual internationalization model suggested by the Uppsala school and/or the rapid internationalization model as suggested by the “born global” stream of researchers.

Design/methodology/approach

This is an inductive and exploratory study that tries to understand questions of how and why. A multiple case study method is used to find empirical evidence for the a priori assumptions derived from the literature.

Findings

It was found that the gradual internationalization model is still valid although high‐tech firms from China internationalize much faster than suggested by earlier studies and they do not follow the process suggested by born global studies.

Research limitations/implications

The authors develop a number of propositions that can be empirically tested in pursuit of theory building for the internationalization of smaller firms from emerging markets.

Originality/value

The paper compares and contrasts the models suggested by Uppsala studies and by researchers in the field of born global studies and provides concrete propositions that can be tested to develop a theory for emerging market firms.

Details

International Marketing Review, vol. 27 no. 2
Type: Research Article
ISSN: 0265-1335

Keywords

Article
Publication date: 15 May 2017

Sven M. Laudien and Birgit Daxböck

This paper aims to challenge the up to now mainly product-centered view on international new ventures by analyzing the influence of service orientation on new venture

Abstract

Purpose

This paper aims to challenge the up to now mainly product-centered view on international new ventures by analyzing the influence of service orientation on new venture internationalization behavior. It especially focuses on the utilization of specific market entry modes as a result of a growing service orientation.

Design/methodology/approach

Newness and complexity of the topic call for a qualitative-empirical research approach. Therefore, the paper is based on an in-depth multiple-case study of six international new ventures operating in fashion and lifestyle industry.

Findings

This paper shows that service-oriented international new ventures make use of different market entry modes at the same time. Service-related capabilities allow them to especially use cooperative market entry modes to fuel lacking market knowledge and thus to overcome resource constraints in value creation processes.

Originality/value

The paper contributes to a more holistic understanding of international new ventures, as it provides empirical evidence for the importance of service-related aspects in new venture internationalization. Furthermore, the paper extends international new venture research by not only considering an early international market entry but also other aspects of internationalization such as the type of offerings or the preferred market entry modes.

Details

Management Research Review, vol. 40 no. 5
Type: Research Article
ISSN: 2040-8269

Keywords

Article
Publication date: 9 August 2011

Tuija Mainela, Elina Pernu and Vesa Puhakka

The purpose of this research is to analyze the development of high‐tech international new ventures as an acting process by individuals in relationship networks.

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Abstract

Purpose

The purpose of this research is to analyze the development of high‐tech international new ventures as an acting process by individuals in relationship networks.

Design/methodology/approach

The study cross‐fertilizes research on internationalization of international new ventures, opportunity development of entrepreneurs and innovation development in technology‐based firms. A longitudinal case study on the development process of an international new venture operating in the software business is used as a base for analytical generalization and theory development.

Findings

The study illustrates events at three intertwined levels of acting on the development of an international new venture. It defines internal problem solving, external solution creation, opportunity selling and opportunity organizing as the behaviors driving the emergent, multi‐level process and embedding the venture in various networks.

Research limitations/implications

Statistical generalization based on common patterns experienced by several firms was not sought in this study. Using the process research approach with event‐based analysis, the study, however, provides an in‐depth analysis of international new venture development through the actions of individuals at the level of key events. The methods for examining a complex development process over time can be utilized by other process researchers.

Practical implications

The complexity of building high‐tech international new ventures is, to a great extent, due to the necessity of handling the process at three levels simultaneously and in connection with one another. Since international new ventures are often based on business opportunities that have a short window of opportunity, the timeline creates further challenges. Embedding the business into various resourcing, legitimizing and otherwise assisting networks is crucial.

Originality/value

The study provides an insight into the ways of acting in networks that intertwines the internationalization, opportunity and technology development with development of a high‐tech international new venture. The study follows the development process in real time, something that is quite rare in previous international entrepreneurship research.

Details

Journal of Small Business and Enterprise Development, vol. 18 no. 3
Type: Research Article
ISSN: 1462-6004

Keywords

Article
Publication date: 11 November 2010

In Hyeock Lee

This paper utilizes a new data base on the international activities of small, new ventures in Korea to examine the impact of internationalization on firm performance. Main…

Abstract

This paper utilizes a new data base on the international activities of small, new ventures in Korea to examine the impact of internationalization on firm performance. Main findings are two‐fold: first, the degree of internationalization by new ventures is related to firm performance in a non‐linear fashion with four phases resulting in the new M‐shaped curve; and, second, the internationalization of the new ventures in the home region of the triad moderates positively the non‐linear M‐shaped relationship between the two as their degree of internationalization increases.

Details

Multinational Business Review, vol. 18 no. 4
Type: Research Article
ISSN: 1525-383X

Keywords

Book part
Publication date: 12 January 2021

Daniel R. Clark and Jeffrey G. Covin

The literature on international entrepreneurship offers two competing views on why new ventures internationalize: (a) the nature of the opportunity pulls them international

Abstract

The literature on international entrepreneurship offers two competing views on why new ventures internationalize: (a) the nature of the opportunity pulls them international or (b) the founder pushes the firm international. While these two internationalization drivers are not independent, they do represent unique causal mechanisms. Previously, the tools available to understand the entrepreneur’s disposition toward internationalization were limited. The present study uses the theoretical foundation of the international entrepreneurial orientation construct and from it develops and tests an attitudinally-based individual-level measure of disposition toward internationalization. To ensure the validity and reliability of the new measure, termed International Entrepreneurial Orientation Disposition, studies were conducted to: develop new scale items, examine their psychometric properties and construct validity, and demonstrate criterion validity. A strong measurement model is developed using structural equation modeling (CFI = 0.93, RMSEA = 0.07), and the measure is shown to be useful as a predictor of perceived international venture attractiveness.

Details

Entrepreneurial Orientation: Epistemological, Theoretical, and Empirical Perspectives
Type: Book
ISBN: 978-1-83867-572-1

Keywords

Article
Publication date: 24 March 2021

Mei Chen, Peijie Ni, Torger Reve, Jing Huang and Ren Lu

Previous studies primarily focus on how to achieve better performance in the international markets, but few centers on whether internationalization is a promising strategy…

Abstract

Purpose

Previous studies primarily focus on how to achieve better performance in the international markets, but few centers on whether internationalization is a promising strategy for new ventures’ growth and development. Based on two pioneering frameworks Conservative, Predictable, and Pacemaker (CPP) model and the 7-P model, this paper fills this gap by analyzing how exporting exert heterogeneous effects on two types of growth, sales growth and employment growth. Accordingly, this paper aims to favor market-oriented new ventures to make a strategy on expanding international markets.

Design/methodology/approach

This study is based on firm-level data from the Chinese Industrial Enterprises Database. The year 2005 was used as the shock year. By conducting the propensity score matching method, 793 couples of matched new ventures were collected with sales growth and 686 couples with employment growth. The difference-in-differences method was applied to analyze the various influences that exporting has on new ventures’ sales growth and employment growth.

Findings

The main finding of this paper is that new ventures that exported can achieve better sales growth than their counterparts that only operated domestically, whereas new ventures that remain in the domestic market have no difference in employment growth from those that exported.

Research limitations/implications

This study shows that exporting is especially beneficial for market-seeking new ventures. Because the study is based on Chinese data, scholars of international business can conduct further research on other countries with different economic structures.

Originality/value

Theoretically, this paper contributes to both international business theory and entrepreneurship theory by combining the CPP model and the 7-P model. Practically, this paper shows that exports mainly benefit the sales growth of new ventures. This suggests that business practitioners should consider their growth goals before they choose to enter the global market.

Details

Review of International Business and Strategy, vol. 31 no. 4
Type: Research Article
ISSN: 2059-6014

Keywords

Book part
Publication date: 18 June 2004

Bostjan Antoncic, Melissa S Cardon and Robert D Hisrich

Entrepreneurship is an emerging and evolving field of inquiry. Entrepreneurship research has been expanding its boundaries by exploring and developing explanations and…

Abstract

Entrepreneurship is an emerging and evolving field of inquiry. Entrepreneurship research has been expanding its boundaries by exploring and developing explanations and predictions of entrepreneurship phenomena in terms of events such as innovation, new venture creation and growth as well as characteristics of individual entrepreneurs and entrepreneurial organizations. The largest institutionalized community of entrepreneurship scholars – the Entrepreneurship Division of the Academy of Management – has developed an entrepreneurship specific domain that incorporates the creation and management of new businesses, small businesses and family businesses, and the characteristics and special problems of entrepreneurs; it has further identified major topics such as new venture ideas and strategies, ecological influences on venture creation and demise, the acquisition and management of venture capital and venture teams, self-employment, the owner-manager, management succession, corporate venturing, and the relationship between entrepreneurship and economic development. One growing entrepreneurship research sub-field is corporate entrepreneurship (intrapreneurship), i.e. entrepreneurship in existing organizations. Emerging in the past two decades, the initial research in corporate entrepreneurship focused on new business venturing, i.e. the formation of new ventures by existing organizations, mostly corporations, and the focus on the entrepreneurial individual inside a corporation – this focus was then extended to include entrepreneurial characteristics at the organizational level. Corporate entrepreneurship research has evolved into three focal areas. The first area of focus is on the individual intrapreneur (Jennings, Cox & Cooper, 1994; Jones & Butler, 1992; Knight, 1989; Lessem, 1988; Luchsinger & Bagby, 1987; McKinney & McKinney, 1989; Pinchot, 1985; Ross, 1987; Souder, 1981), mainly emphasizing the intrapreneur’s individual characteristics. The recognition and support of entrepreneurs in organizations is also a part of this focal area. The second area of focus has been on the formation of new corporate ventures (Burgelman, 1985; Carrier, 1994; Cooper, 1981; Fast & Pratt, 1981; Hisrich & Peters, 1984; Hlavacek & Thompson, 1973; Krueger & Brazeal, 1994; MacMillan, Block & Narasimha, 1984; Szypersky & Klandt, 1984; Vesper, 1990); this area’s primary emphasis is on the different of types of new ventures, their fit with the corporation, and their enabling corporate internal environment. The third area of focus is on the entrepreneurial organization (Burgelman, 1983; Drucker, 1985; Duncan et al., 1988; Hanan, 1976; Kanter, 1984; Kuratko et al., 1993; Merrifield, 1993; Muzyka, de Konning & Churchill, 1995; Pinchot, 1985; Quinn, 1979; Rule & Irwin, 1988; Schollhammer, 1981; Stevenson & Jarillo, 1990; Stopford & Baden-Fuller, 1994), which mainly emphasizes the characteristics of these organizations.

Details

Advances in Entrepreneurship, Firm Emergence and Growth
Type: Book
ISBN: 978-1-84950-267-2

Book part
Publication date: 9 November 2004

Benjamin M Oviatt, Rodney C Shrader and Patricia P McDougall

Yves Doz, Jose Santos, and Peter Williamson’s (2001) book about metanational processes emphasizes entrepreneurial behavior and briefly considers what they call…

Abstract

Yves Doz, Jose Santos, and Peter Williamson’s (2001) book about metanational processes emphasizes entrepreneurial behavior and briefly considers what they call metanational upstarts. We extend their exploration in this article through our focus on the rapid internationalization of new ventures. We present a multilevel model of new venture internationalization that highlights the importance of managing risk. The model specifies relationships between the general environment and venture entrepreneurs that are mediated by industry conditions, and relationships between industry conditions and the venture that are mediated by the decisions and actions of entrepreneurs. Complex interactions and simultaneous relationships are described among the entrepreneurs, the venture, and venture internationalization.

Details

"Theories of the Multinational Enterprise: Diversity, Complexity and Relevance"
Type: Book
ISBN: 978-1-84950-285-6

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