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The leading frameworks of internationalization have contributed significantly to our knowledge of how firms internationalize, but do not fully explain how firms actually create and capture value from customers when internationalizing their activities. Understanding the value creation and capture activities defining their business model(s) is critical for firms moving into less familiar markets, and is particularly relevant for service firms where variability is an inherent feature of the firm/client experience. To address this gap, we take a business model perspective to analyze 144 internationalization events of 10 professional service firms. We find that the case firms adopted four different business models when internationalizing, and that single firms may utilize portfolios of business models. Our findings contribute to both the services internationalization and business model literatures by showing how variability in the internationalization process substantiates the need for business model portfolios.

I was surprised and delighted to be asked to write the final chapter of a book on groups. I certainly thought of myself as a “groups person,” but I was never quite sure that anyone else did. My research image is much more tied to organization theory and strategy. But the reality is that much of my work – from strategic decision making and product development to acquisitions and cross-business synergies – often does deal with groups. Although these more macro-level topics are in the foreground, groups are very often the backdrop.