International New Ventures Essay -- International Business

IntroductionThe article A possibleness of International new-fashioned Ventures A Decade of query by Zahra (2005) is based on findings based on question sparked by the work of Oviatt and McDougall (1994) Toward a Theory of International New Ventures. In this article, Zahra (2005) builds on the authors research framework, highlighting aspects which expand on the original article and pointing out those which require re-examination in the light of accumulating empirical findings. The term international entrepreneurship as developed by Oviatt and McDougall (1994) brings international business theory into an integrated model of International New Ventures (INVs) with an approach based on unique resources and ne bothrk relationships facilitated by information and communicating technology. Defined as a business organic law formed for the purpose of deriving significant competitive advantage from the use of resources and sale of outputs in nine-fold countries, INVs play an integral role in todays global economy as recent global conditions have made the INV form of organization competitive (Oviatt and McDougall, 1994).Literature ReviewThe emergence of INVs is one of the defining features of modern global capitalism (Oviatt and McDougall, 1994). These INVs benefit from the globalized economy in various ways extending their expert learning by tapping into various sources of innovation and competitive advantages as found in the results of a study by Zahra, Ireland and Hitt (2000). Oviatt and McDougall (1994) identified four types of INVs using two dimensions coordination of value chain activities and the number of countries involved namely- export/import start-ups, multinational trader, geographical focused start ups and global start-up... ....D. and Hitt, M.A (2000) International Expansion by New Venture Firms International Diversity, Mode of Market Entry, Technological Learning and Performance, Academy of Management Journal, 43 (5) pp. 925-950. Business Source Prem ier (Online). Available at http//ehis.ebscohost.com.ezproxy.liv.ac.uk/ehost/ (Accessed 8 April 2012).Zahra, S. & George, G. (2002) International Entrepreneurship The Current Status of the Field and Future Research Agenda. In M. Hitt, D. Ireland, D. Sexton & M. Camp (Eds.). Strategic Entrepreneurship Creating an Integrated Mindset. Oxford Blackwell, 255-288.Zahra, S.A. (2005) A Theory of International New Ventures A Decade of Research, Journal of International Business Studies, 36 (1) pp. 2028. Business Source Premier (Online) Available at www.jstor.org.libproxy1.liv.ac.uk/stable/pdfplus/3875288.pdf (Accessed 10 April 2012).