International entrepreneurship research: how it evolved and directions for the future

Abstract

On 28 August 2015, received an email stating, I am so sorry to have to tell you that Richard passed away in his sleep last night. He so treasured your friendship and collaboration. Professor Richard W. Wright (BA'61; MBA'63; PhD'70) co-founded the McGill Conferences on International Entrepreneurship, aimed at integrating the fields of international business and small business/entrepreneurship. This article is dedicated to him. In the past, internationalisation was a challenging option, usually adopted by large firms. Changes in technology now allow small firms to internationalise more easily than ever, and where there is a small domestic market, internationalisation is sometimes not an option; it has become a necessity. Membership in a network allows a small firm to internationalise in a cooperative fashion, without the need for large expenditures. The practice of international entrepreneurship thus presents a challenge to some classic theories. Internationalisation need not be undertaken incrementally. Furthermore, small companies can internationalise without transferring resources abroad, thereby avoiding the issues formerly faced during internationalisation, e.g.: 1) opportunity cost of resources transferred abroad; 2) creation of a disadvantage by resources transferred abroad; 3) the lack of resources required to operate efficiently abroad.