International New Ventures Essay -- International Business

IntroductionThe article A Theory of worldwide red-hot Ventures A Decade of enquiry by Zahra (2005) is based on findings based on look into sparked by the run 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 admit re-examination in the light of accumulating empirical findings. The term international entrepreneurship as essential 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 network relationships facilitated by information and communication technology. Defined as a business presidency formed for the purpose of deriving significant competitive advantage from the put on of resources and sale of outputs in multiple countries, INVs play an integral role in todays orbi culate economy as recent global conditions have made the INV form of organization competitive (Oviatt and McDougall, 1994).Literature studyThe emergence of INVs is one of the defining features of modern global capitalism (Oviatt and McDougall, 1994). These INVs attain from the globalized economy in various ways extending their technological 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 tax chain activities and the number of countries involved namely- export/import start-ups, multinational trader, geographic 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 instruction execution, Academy of Management Journal, 43 (5) pp. 925-950. Business mentio n Premier (Online). purchasable 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 coming(prenominal) Research Agenda. In M. Hitt, D. Ireland, D. Sexton & M. Camp (Eds.). Strategic Entrepreneurship Creating an incorporated 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).