TL;DR: The formation of organizations that are international from inception is an increasingly important phenomenon that is incongruent with traditionally expected characteristics of multinational enterprises as mentioned in this paper, and a framework is presented that explains the phenomenon by integrating international business, entrepreneurship, and strategic management theory that describes four necessary and sufficient elements for the existence of international new ventures.
Abstract: The formation of organizations that are international from inception—international new ventures—is an increasingly important phenomenon that is incongruent with traditionally expected characteristics of multinational enterprises A framework is presented that explains the phenomenon by integrating international business, entrepreneurship, and strategic management theory That framework describes four necessary and sufficient elements for the existence of international new ventures: (1) organizational formation through internalization of some transactions, (2) strong reliance on alternative governance structures to access resources, (3) establishment of foreign location advantages, and (4) control over unique resources
TL;DR: In this paper, a framework is presented that explains the existence of international new ventures by integrating international business, entrepreneurship, and strategic management theory, and it describes four necessary and sufficient elements for such organizations: organizational formation through internalization of some transactions, strong reliance on alternative governance structures to access resources, establishment of foreign location advantages, and control over unique resources.
Abstract: Organizations that are international from inception – international new ventures – form an increasingly important phenomenon that is incongruent with traditionally expected characteristics of multinational enterprises. A framework is presented that explains the phenomenon by integrating international business, entrepreneurship, and strategic management theory. That framework describes four necessary and sufficient elements for the existence of international new ventures: (1) organizational formation through internalization of some transactions, (2) strong reliance on alternative governance structures to access resources, (3) establishment of foreign location advantages, and (4) control over unique resources.
TL;DR: This article examined the effects of international expansion, as measured by international diversity and mode of market entry, on a firm's technological learning and the effect of this learning on the firm's financial performance.
Abstract: An increasing number of new venture firms are internationalizing their business operations early in their life cycles. Previous explanations of this trend have focused on the importance of technological knowledge, skills, and resources for new ventures' international expansion. However, little is known about how these firms use the technological learning gained through internationalization. This study examined the effects of international expansion, as measured by international diversity and mode of market entry, on a firm's technological learning and the effects of this learning on the firm's financial performance.
TL;DR: In this article, the authors present a framework that highlights the differences among entrepreneurs and among their ventures, and four dimensions are identified for this framework describing new venture creation: individuals, environment, organization, and process.
Abstract: Presents a framework that highlights the differences among entrepreneurs and among their ventures. Building on the work of others, four dimensions are identified for this framework describing new venture creation. These are: individuals, environment, organization, and process. This is the first framework to combine all four of these dimensions. The individual dimension should consider not only the psychological characteristics of the entrepreneur such as need for achievement and locus of control, but must also consider the entrepreneur's background, experience, and attitudes. The process dimension should be viewed in light of six different behaviors including the location of a business opportunity and the accumulation of resources. Twelve factors are identified for the environmental dimension. These twelve factors were chosen based on the review of 17 research papers focused on environmental variables which affect new venture creation. The organization dimension is composed of three generic competitive advantage strategies and 14 competitive entry wedges. This framework allows for the examination and comparison of very different new ventures. Conflicting results in prior research studies may be explained by considering the dimensions used in that work. (SRD)
TL;DR: In this paper, the authors proposed a model to predict the performance of new ventures based on factors that can be observed at the time of start-up, such as education, gender, race, education, and race.