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By bringing together the IB and IE literatures, the purpose of this paper is to examine the internationalization process as an entrepreneurial process related to the development of international opportunities. It explicitly connects different types of knowledge (i.e. market and internationalization), international opportunities and the internationalization process comprising both new foreign market entry and sequential moves that happen after entry.

This is a conceptual paper that reviews the literature on knowledge, opportunities and the internationalization process. Moreover, the paper identifies the current gaps in the literature and builds new theory that sheds light into how these three concepts are related. The paper also presents a model and propositions that should guide future research.

The proposed model shows that market and internationalization knowledge combine to form the international knowledge stockpile of the firm, which moderates the relationship between the development of international opportunities and the internationalization process, comprising not only new foreign market entry but also sequential moves that happen after entry using either mode continuation or modal shift. Moreover, it shows that the development of opportunities only leads to modal shifts after a certain threshold is achieved.

The propositions suggest that market and internationalization knowledge are positively related to international opportunities, which, in turn, are related to foreign market entry and sequential moves using mode continuation. International opportunities, however, are related to modal shifts only beyond a threshold. Moreover, the international knowledge stockpile of the firm moderates the relationship between international opportunities and the internationalization process. Because this is a conceptual paper, the propositions have not been tested and, therefore, lack empirical validation. Nonetheless, the model is a starting point to new research on internationalization distinguishing different types of knowledge as well as different sequential moves.

This study shows that the internationalization process is contingent on the different types of knowledge associated with it. It also introduces the idea of a threshold that shapes the internationalization process. The bulk of the research on internationalization suggests that such a process is gradual and incremental. This study offers a non-linear alternative.

The ongoing economic impact of the global COVID-19 pandemic upon national and international economies has provided a novel set of challenges and barriers for organisations; particularly for small and medium enterprises (SMEs). This has led to an increased focus on sustainable decision-making and long-term survival and growth strategies, such as internationalisation opportunities, for SMEs during obscure times and fluctuating economies. Thus, examining how SMEs within ambiguous economies are adopting innovative decision-making to continue to sustain and grow their enterprises provides a vital perspective and understanding of not only enterprise survival but enterprise growth during times of economic uncertainty. This chapter proposes a conceptual framework that explores internationalisation opportunities through an intersectional lens. The framework depicts that intersectionality as an enabler during ambiguous times for Maldivian women entrepreneurs generates innovative decision-making towards internationalisation as part of sustainable growth practices. The conceptual framework offers theoretical implications for empirical studies of an inductive or deductive nature and offers pragmatic importance for women entrepreneurs considering internationalisation through sustainable growth during obscure times and fluctuating economies. This chapter contributes to the growing body of knowledge in the field of international entrepreneurship, particularly innovative decision-making, and sustainable growth through internationalisation opportunities of women entrepreneurs, whilst advancing our understanding of gender and entrepreneurship studies. Studying innovative decision-making and sustainable growth practices of women entrepreneurs additionally provides a new perspective on intersectional works within entrepreneurial growth during uncertain times.

The purpose of this paper is to establish a conversation between international business and international entrepreneurship literatures by analyzing if and how international opportunities are related to the internationalization process of the firm.

This paper reports finding from a backward-looking longitudinal, qualitative, embedded case study of an internationalized Brazilian firm, covering all 13 foreign markets where the firm has operated over 18 years.

Modal shifts within foreign markets were rare. Over time, the firm learned how to refine, rather than change, the servicing modes within each foreign market; it also learned how to better develop internal and exploitative opportunities, manage a portfolio of servicing modes across foreign markets, and use more complex mode servicing packages. Overall, international opportunities and the internationalization process of the firm were inextricably connected.

The authors acknowledge limitations related to the statistical generalizability of the research method and suggest that statistical validation is needed as the research on opportunities and the internationalization process of the firm progresses.

Internationalizing firms should carefully consider the choice of entry mode in foreign markets. They should also understand that learning is not necessarily associated with change.

The authors show that the internationalization process of a traditional firm can be analyzed through an opportunity lens. This means associating characteristics of international opportunities with mode continuation and modal shifts in all foreign markets where the firm operates.

Purpose – We examine the fundamental assumptions and features of the Uppsala model of internationalization and argue that we need to look beyond this model for studying internationalization processes in the multinational corporations (MNCs) of today. The purpose of our paper is to identify gaps and neglected issues regarding MNCs' internationalization processes that demand further theoretical and empirical study.

Methodology – Our approach is conceptual: based on the most cited model on internationalization, the Uppsala model, we approach the complex internationalization processes that continuously go on in modern MNCs. We use related bodies of literature, on MNC structure and strategy, headquarters–subsidiary relationships, MNC subsidiary strategy and development, and opportunity seeking and entrepreneurship, to fill in the gaps and develop the emerging research themes.

Findings – We identify the following three issues that need further investigation: the opportunity recognition process preceding internationalization processes in MNCs, the internationalization of multiple products within the confines of the growing MNC, and the internationalization of foreign MNC units.

Research limitations – In this paper, we open up new research fields, but do not offer empirical studies to inform us about these relevant issues. Future research should study these issues empirically, preferably through case study methodologies and/or with longitudinal designs.

Originality – The contribution of our paper is its identification of three research issues in relation to internationalization processes of modern MNCs, which we argue are neglected by contemporary research.

This study explains the international opportunity development of SMEs from emerging economies during institutional transition. This research enriches our understanding of how these firms adopt different approaches to developing international opportunities when they confront the turbulent institutional environment. We develop a phase-based framework for the evolution of transitional institution for SMEs’ internationalization and the SMEs’ internationalization process in that framework. By providing an empirical case study of a privately owned SME from China, the main finding is that SMEs from emerging economies become more entrepreneurial and proactive in developing the international opportunity during the institutional transition.

The purpose of this paper is to explore the internationalization process of small and medium family-owned businesses (FOBs). The authors strive to explain the extent to which family business CEOs identify a signal in either the domestic or international environment for internationalization as a viable business opportunity.

The authors rely on signal detection theory to develop a conceptual model that explains the cognitive process inducing the CEO-founder of an FOB to discover and exploit an opportunity in the international market.

The conceptual model proposes that constraints in a family-firm’s domestic market, as well as opportunities in the foreign market act, as signal strength. However, family business CEO-founders’ centrality and inward orientation might lead them to ignore a signal by generating noise and reducing the motivation to collect further information concerning the trustworthiness of the signal.

The model is conceptual; future research should strive for a potential way to operationalize the cognitive process described herein. In addition, the theoretical argument has been developed in the context of family firms wherein the founder plays a pivotal role. Future research may extend the theoretical arguments to those family firms that are at an advanced stage of development.

The study reconciles conflicting findings concerning the internationalization of FOBs. In doing so, the authors employ an interdisciplinary approach and develop a conceptual model that sheds additional light on the cognitive processes underlying internationalization decisions among founder-centered family firms.

Many newly established Internet loss-making enterprises (NEILEs) are always willing to expand overseas within a very short time from their establishment. This phenomenon is becoming a hot research area. This paper aims to explore why these enterprises are always willing to expand overseas rapidly even if they are facing severe and persistent losses, and to study the different rapid internationalization modes and the international market entry ways for NEILEs.

This paper constructs a theoretical framework with the dual situation of negative attainment discrepancy and advantageous slack resources to explain the rapid internationalization of NEILEs. Furthermore, cross-case comparative analysis method, based on interviews, questionnaires and secondary data collection, is adopted to reveal the rapid internationalization modes and the international market entry ways of such enterprises.

Whether blocking competitors or seeking opportunities or both, NEILEs' goal of rapid internationalization depends on the severity and persistence of negative attainment discrepancy. When the severity and persistence of negative attainment discrepancy are very significant, moderate and mild, NEILEs choose sniper-type, opportunity-type and dual-type internationalization target mode in turn; it is very important for NEILEs to match advantageous slack resources and international market entry ways to achieve specific internationalization goals.

This paper enriches the understanding of NEILEs' transnational entrepreneurial behavior in the era of digital economy. The theoretical contribution of this paper is that the authors build a theoretical framework based on the logical starting point, the logical fulcrum and the logic ending point for understanding the rapid internationalization of NEILEs.

This study demonstrates that NEILEs can also expand into foreign markets according to their own characteristics. Undoubtedly, they need to choose appropriate internationalization target mode and international market entry way in line with the extent and duration of their losses, and their advantageous slack resources.

In this paper, the authors construct the rapid internationalization theory of NEILEs based on the dual situation of negative attainment discrepancy and advantageous slack resources in digital economy era. Moreover, the authors discover the behavioral characteristics and patterns of NEILEs' transnational entrepreneurship.

The purpose of the study is to investigate the international opportunity development process of born global firms embedded in two different institutional contexts: China, an emerging economy and Italy, a developed country. Drawing on the entrepreneurial opportunity literature and institutional theory, this study explores and draws insights into how home country institutions of born globals can influence the international opportunity development process of the firms.

This paper adopts a qualitative case study approach with in-depth, semi-structured interviews of six born global companies from China and Italy. In doing so, this study uses a flexible pattern matching design, which is consistent with the qualitative research design of the paper.

The findings of the study indicate that home institutions play an influential, yet differential role in the international opportunity development processes of Chinese and Italian born global firms. While the Italian firms shape their opportunities mainly through product innovation, their Chinese counterparts develop opportunities primarily through networks embedded in their home institutional context.

The key contributions of the paper relate to an integrated analysis of the international opportunity development process of born globals in China and Italy based on institutional theory, which has received limited attention in the international entrepreneurship literature. In addition, the study advances the similarities and differences in the international opportunity development process in two different countries, thus providing valuable insights for policymakers and practitioners to enter international markets successfully.

This paper aims to contribute to the understanding of internationalisation processes in transition economies, and to make an attempt to conceptualise a new model of entrepreneurial internationalisation.

A theoretical model of entrepreneurial internationalisation is developed, which is then tested in a case analysis of a Lithuanian company. The paper draws on Uppsala internationalisation theory, network theory and theories of international entrepreneurship.

Analysis shows that knowledge, to be a tool for decision making in the internationalisation process, is used to create beliefs or “images” of markets. Second, it is argued that incomplete, fragmented, and even contradictory knowledge results in a system of assumptions about international environment. Under the conditions of a highly turbulent business environment, risk and uncertainty could be handled once they are interpreted by creating a set of beliefs. These beliefs serve as a basis for international opportunity perception and recognition. Findings indicate that in the process of entrepreneurial internationalisation, opportunity plays a crucial role, since it shapes the mode and direction of further actions. Entrepreneurs perceive international opportunity as a future picture of reality, and their actions are organised according to this picture.

The paper is based upon a single case study of a company from a transition economy. Further, research development through many case studies in different countries with transition economies may enhance one's understanding of international entrepreneurship.

The study provides valuable knowledge for organizations intending to operate in turbulent economic environments.

The internationalisation process of the companies from transition economies is scarcely discussed in international entrepreneurship theory – and hence the paper addresses an important research gap. The study introduces new elements in the chain “knowledge – internationalisation event”. It is argued in the paper that those elements are beliefs and opportunities. The model shows how these elements interact in the process of internationalisation.

Synthesising an individual–opportunity nexus model, this research aims to develop a model of early internationalisation by integrating international competitiveness readiness, entrepreneurial motives and home country institutions and empirically assesses this model using a multi-level estimate design.

Drawing upon a global context comprising 79,402 entrepreneurs from 87 countries, this research applies a Heckman 2-step model together with a multi-level approach that allows to deal with self-selection bias and to take the hierarchical nature of the data into account.

The findings show that early internationalisation is significantly affected by entrepreneurs' international competitiveness readiness and this association is moderated by entrepreneurial motives. In addition, the findings demonstrate that the individual-level effects are further modified by the quality of country-level governance.

The research findings have significant implications and value for policy-makers who are aiming to stimulate the rate of early internationalisation by influencing the quality of governance.

The results contribute to the development of knowledge and theoretical bases in international entrepreneurship (IE). The results provide a multi-level view on the relationships between entrepreneurs and the internationalisation of entrepreneurs' firms from an integrative perspective, thereby complementing the perspective of international competitiveness readiness that primarily focuses on the effects of inherent resources and capabilities.