International Entrepreneurial Opportunities Research Articles

ІНТЕРНАЦІОНАЛІЗАЦІЯ МАЛИХ ВЕНЧУРНИХ КОМПАНІЙ: 30 РОКІВ ДОСЛІДЖЕНЬ

The article highlights the evolution of research of small venture companies from the inception of international business studies in the 1960s to the present time with an emphasis on 1993-2024 as a period of isolated research on small firms. It provides an overview of the commonly used terminology in the field of international entrepreneurship and analyses the state of research on the topic in Ukrainian literature, which leads to identification of a research gap – internationalisation of small and medium-sized enterprises appears to fall out of the scope of international entrepreneurship and international business research. Based on the existing empirical research in the field, the article highlights the need for isolated studies on small venture enterprises and addresses this research gap in Ukrainian literature by providing a systematic review of internationalisation literature aimed at small venture companies as opposed to the multinational companies. A systematic review of the literature establishes a link between early research on international business and the current literature on international entrepreneurship, while providing the overview of international business theories that were adapted for the use in international entrepreneurship. It outlines a trending research direction in international entrepreneurship literature – international entrepreneurial opportunities. It discusses the characteristics of the entrepreneur, company and environment that form the basis of international opportunity. The article defines the place of international marketing and strategic management in the system of small business internationalization research and outlines promising future research directions recognised in international scientific literature. It follows the developments of G. Knight and S. T. Cavusgil in discussing integrationresponsiveness paradigm – originating from international business – and effectuation theory – coming from strategic management – as future research directions. Finally, it provides arguments for development of internationalisation of small venture companies research in Ukrainian literature.

Research on Influencing Factors and Internal Mechanism of International Entrepreneurship Based on Complex Network Algorithm

Entrepreneurs' social capital consists of relational dimension social capital, cognitive dimension social capital and structural dimension social capital. Relationship dimension social capital and cognitive dimension social capital have positive promotion effect on entrepreneurial survival performance, but have negative feedback effect on entrepreneurial success performance. From the investment stage, the investment intensity of Chinese venture capital institutions in the initial stage is obviously lower than that in other development stages, especially in the growth stage, which accounts for half of the venture capital. Although the entrepreneurial orientation and knowledge innovation ability of entrepreneurial individuals or teams are helpful to improve the efficiency and effectiveness of identifying and utilizing international entrepreneurial opportunities, it is necessary to choose an appropriate internationalization model according to the types of international entrepreneurial opportunities in order to achieve extraordinary international entrepreneurial performance. Based on the complex network algorithm, this paper analyzes the evolution of the concept of international entrepreneurship and its influencing factors, and reveals the internal mechanism of international entrepreneurship.

The role of slack resources and managerial capabilities in early and late internationalization: a configurational approach

ABSTRACT Internationalization requires a distinct set of managerial capabilities and company resources. Despite a call for examining the impact of cognitive capabilities on international entrepreneurship, only a few studies have attempted to do so. Since international entrepreneurship starts with opportunity recognition, attention should be paid to this first step in the internationalization process. However, the ability to recognize international entrepreneurial opportunity is not enough by itself, but rather it needs to be supported by other cognitive factors. COVID-19 has put specific pressure on entrepreneurs highlighting their ability to actively respond to changes and persist under uncertainty. This research aims to examine the difference in drivers of early and late internationalization and their impact on international performance by analyzing 50 Finnish small- and medium-sized enterprises via fuzzy-set qualitative comparative analysis. The results suggest two distinct configurations that are connected to early internationalization and one configuration that is connected to late internationalization.

Correction to: International entrepreneurial opportunity: A systematic review, meta‑synthesis, and future research agenda

Correction to: International entrepreneurial opportunity: A systematic review, meta‑synthesis, and future research agenda

International entrepreneurial opportunity: A systematic review, meta-synthesis, and future research agenda

International entrepreneurial opportunity: A systematic review, meta-synthesis, and future research agenda

Evaluation of International Market Opportunities: A Creation Versus Discovery Perspective

In this article, I discuss two theories of opportunities—discovery and creation—as methods for entrepreneurs to evaluate international market opportunities under conditions of risk and uncertainty. I examine how dimensions of opportunities at the market, community, firm, and entrepreneur levels of analysis influence entrepreneurs’ evaluations of discovery and creation opportunities. Lastly, I propose future research directions to expand the concept of international entrepreneurial opportunities and the implications for researchers.

What entrepreneurs do? Entrepreneurial action guided by entrepreneurial opportunities and entrepreneurial learning in early internationalising firms

PurposeThere is a growing interest in exploring the interface between international marketing and entrepreneurial opportunities. This paper contributes by defining and elucidating entrepreneurial action in early internationalising software firms and the corresponding emergent international marketing activities. Entrepreneurial action in early internationalising software firms is explored through the operationalisation of a reconceptualised entrepreneurial opportunity construct and the associated entrepreneurial learning processes.Design/methodology/approachThe paper adopts an inductive approach, which traces the evolution of five early internationalising propriety software South African firms; from the new venture idea to the establishment of the international entrepreneurial opportunity.FindingsThe findings provide support for entrepreneurial action guided by: prior industry experience, entrepreneurial alertness, opportunity confidence and two levels of entrepreneurial learning; experiential and double-loop learning. Learning by doing allows for the continuous evaluation of the new venture idea leading to the international entrepreneurial opportunity. Market responsiveness and continuous product development resulting in the emergence of the firm's inward international marketing activities constitute the key outcomes of entrepreneurial action.Research limitations/implicationsThe study is limited to a specific technology context, which is young software firms whose inward directed internationalisation activities coalesce around the development of their proprietary software technology.Originality/valueBased on an original dataset of early internationalising software firms from South Africa, this paper inductively operationalises and conceptualises entrepreneurial action as the combined interaction of four key constructs: contingent effects, attitudes to opportunities, learning by doing and entrepreneurial activities leading to the firm's inward international marketing activities and a diversified international client and end-user base.

Do Immigrant Entrepreneurs Have Natural Cognitive Advantages for International Entrepreneurial Activity?

Are entrepreneurs with an immigration background more willing to internationalize their entrepreneurial firms compared to their nonimmigrant peers? Previous research has already emphasized that immigrant entrepreneurs possess superior human resources and social capabilities—such as international experience, networks and language skills—that help them to better identify and evaluate international entrepreneurial opportunities. However, literature other than capability-based explanations is rare, and thus it is not yet understood in what sense immigrant entrepreneurs differ from other entrepreneurs in terms of their cognitive characteristics for international entrepreneurial activity. This study addresses this gap by involving a quantitative study of Berlin-based high-tech founding entrepreneurs to empirically investigate how immigrant entrepreneurs vary in their cognitive characteristics, and how this affects their intention to engage in international entrepreneurship. The findings show that immigrant entrepreneurs possess higher levels of proactive behavior, which lead to a more favorable evaluation of international business opportunities, and in turn positively affect the willingness to engage in international entrepreneurial activity. This contributes to a deeper understanding of immigrant entrepreneurs’ natural cognitive advantages and the role they play for entrepreneurial growth, success and national economic development.

Trustworthy Small and Medium-sized Enterprise Network Partners: Small and Medium-sized Enterprise Partnerships in the International Entrepreneurial Process

This study explores how 40 decision-makers from Swiss and Thai small or medium-sized enterprises (SMEs) engage and develop international partnerships to discover, create, evaluate and exploit entrepreneurial opportunities across borders. Despite the growing importance of international entrepreneurship research, there is little research considering how entrepreneurial SMEs from different cultural contexts interact with international partners to develop international entrepreneurial opportunities. The findings show how Thai and Swiss entrepreneurs engage in the development of international partnerships to create, explore and exploit opportunities. The empirical study further emphasizes the importance of trustworthy and close interpersonal relationships. The meaning of friendship in culturally different countries is also explored as it pertains to the process of SME internationalization. The findings show important cultural differences. In the collectivistic Thai context, personal and professional networks are closely intertwined. In the development of new partnerships, Thai SMEs pursue the clear objective of developing friendships. In the individualistic Swiss context, partnerships mostly originate from opportunities in the professional context and relationships tend to develop more coincidentally into a trusted friendship.

Research on the Growing Process of International Entrepreneurship in Family Firms: A Longitudinal Case Study Based on Resource Bricolage

Based on the theory of resource bricolage, following the logic framework of situation—process—result”, a longitudinal single case study of SL（Group）CO., LTD. is designed to systematically induce and analyze the growth process of international entrepreneurship and the influence mechanism based on the characteristics of family firms. The study focuses on the environment, logic and mode of resource bricolage and the entrepreneurial growth of family firms, and takes the three experiences of SL’s international entrepreneurship in the process of internationalization as relatively independent but interrelated research units to construct the theoretical model of international entrepreneurial growth of family firms. The study finds that: Firstly, the resource bricolage environment and the resource endowment of family firms in the context of international entrepreneurship experience a dynamic changing process. The environmental gap between domestic and foreign countries will attract entrepreneurs to start international entrepreneurial activities, and the development of domestic industries will narrow the environmental gap, thus reducing the attraction. Meanwhile, the resource endowment of family entrepreneurs gradually increases, thus the willingness of international entrepreneurship always remain at a high level. The dominant logic of resource bricolage in international entrepreneurship follows the direction of learning-oriented, efficiency-oriented and strategy-oriented”, forming a continuous selective bricolage. Secondly, the identification, grasp and development of international entrepreneurial opportunities, and the selection, introduction and integration of resources are an organic whole and interwoven process. In the stage of opportunity identification, entrepreneurs go through the selection process from experience-based to network-based to strategy-based. In the process of seizing the opportunity, staged bricolage strategies by means of mode innovation in joint venture, cooperation innovation in two generations and integration innovation in industrial chains should be formed to introduce resources. In the stage of opportunity development, entrepreneurs gradually upgrade the combination of resources from utilization – development – integration”, among which the integration of hidden resources generates more sustainable resource value. Thirdly, the characteristics of family firms have an important impact on international entrepreneurship in terms of entrepreneurial subjects, bricolage continuity and selectivity, which promote resource bricolage in favor of realizing family vision, controlling intentions and integrating familiness, helping to form a new orderly state and achieve growth in the process of international entrepreneurship. This study elaborates and expands the application situation, orientation and process of resource bricolage. Specifically, based on the dynamic process of different bricolage types in regional space exploration, this paper focuses on the mutual transformation, supplement and substitution between entrepreneurial behavior and bricolage; by embedding the theory of resource bricolage into the research field of family firms, the influence mechanism of the characteristics of family firms on the process of resource bricolage and the mechanism of the role of resource bricolage in promoting the growth of international entrepreneurship of family firms are clarified. The conclusions of this study provid inspiration and reference for family firms who implement international entrepreneurship while facing complex and diverse international environment and resource scarcity.

A time-based process model of international entrepreneurial opportunity evaluation

This article investigates two important research gaps in international business (IB): how entrepreneurs evaluate international entrepreneurial opportunities (IEOs) and the role of time in the evaluation process. Drawing on the literature on decision-making models and the philosophical foundation of opportunity, this study employs Gioia’s methodology and content analysis to examine how the founders of 15 early-internationalizing firms evaluated IEOs in the early- and late-stage of internationalization. The findings reveal that the interaction of time and three general rules of IEO evaluation that I coin ‘simple’, ‘revised’, and ‘complex’ influenced the entrepreneurs’ decisions. The findings show that the founders transitioned from simple to revised and to complex rules in the IEO evaluation process and that various contingent factors such as time pressure, resource availability, and type of stakeholders drove these transitions. The three general rules correspond to what I label as ‘opportunity actualization’, ‘revision’, and ‘development maximization’ processes, respectively. I propose a Time-based Process model that reconciles extant internationalization models’ (i.e., Process, Network, Economics, and Entrepreneurship) different explanations regarding why and how firms internationalize.

SME international performance in Latin America

PurposeSmall- and medium-sized enterprises (SMEs) from emerging markets in Latin America are increasingly engaging in internationalization. Nevertheless, there is limited research into how these firms achieve international performance. The purpose of this paper is to examine managerial and technology-related capabilities and their impact on international performance of SMEs.Design/methodology/approachDrawing on data from 233 Chilean SMEs, a model is developed and tested using structural equation modeling. Specifically, the model considers the role of international entrepreneurial orientation and internet technology capabilities on SME international performance, taking into account the mediating effect of international entrepreneurial opportunity recognition and technology-related international networks.FindingsResults show that international entrepreneurial opportunity recognition and international networks mediate the relationship between international entrepreneurial orientation and internet technology capabilities on SME international performance.Research limitations/implicationsThe context for the study is Chile. However, this is an important emerging market in Latin America with a strong focus on SME internationalization. The research design is cross-sectional and so does not allow for any causal claims to be made.Originality/valueThis research contributes to the relatively scant but increasing number of empirical studies which investigate the link between internationalization strategy and SME performance in emerging market contexts.

Analysing the Role of Framework Conditions Influencing International Entrepreneurial Opportunity Identification Process

Objective: The objective of this paper is to determine and analyse the framework conditions that influence the entrepreneurial opportunity identification and action in the international market context . Research Design & Methods: Scholars from the International Business and International Entrepreneurship (IE) research fields agree that the process of internationalisation is triggered by opportunity identification. The extant literature is reviewed by assessing the framework conditions that domestic and international markets offer for entrepreneurial actions. An analytical juxtaposition of the influential factors is conducted in the light of various stages of the opportunity identification process by examining − at each stage − possible effects of domestic and international market context. Findings: This paper brings into the IE discussion a conceptual matrix of various elements and factors − external conditions – which influence the creation of nexus by entrepreneurs to the markets . Implications & Recommendations: The conceptual matrix offers new insights for theoretical development and arguments for designing empirical research in terms of external conditions. It is expected to provoke more theoretical and practical questions from scholars within the IE field. Contribution & Value Added: The originality of this work lies in proposing a comprehensive framework to understand how context interacts with the entrepreneurial opportunity identification process.

The creation of foreign market knowledge across the growth phases of born globals

Internationalization research has long been dominated by stage theories, until two decades ago academics noted the existence of firms able to internationalize soon after their foundation. Labelled globals, these companies achieve early and rapid internationalization. To date, scholars have mainly analysed the entryinternationalization phase of these companies, while post-entry stages, growth and maturity have been little explored. Through a multiple case study approach, the authors analyse the processes of foreign market knowledge creation of four Italian manufacturing firms during the early international entry phase, and the international growth and consolidation phase. The results highlight that entrepreneurs develop international entrepreneurial opportunities through which they build foreign market knowledge during the early initial entry phase. As born globals enter international growth and consolidation phase, the process of foreign market knowledge creation occurs within the organization in a systematic way and is aimed at developing new international opportunities.

"Opportunity-Seeking, Entrepreneurial Orientation and Subsidiary Strategy"

We present a view that harnessing international entrepreneurial opportunities necessitates appropriate strategic actions performed by key foreign subsidiaries, and that such actions are shaped by p...

International entrepreneurial selling as construction of international opportunities

In early internationalization, the founder–entrepreneur is often the first salesperson of a growth-seeking small firm. It is well known that founder–entrepreneurs encounter difficulties in generating their first foreign sales, but academic research provides little insights into entrepreneurs’ viewpoints on selling. This paper analyzes how entrepreneurs perceive international entrepreneurial selling. By cross-fertilizing sales and international entrepreneurship research, this study provides an initial theoretical definition of the concept of international entrepreneurial selling from a moderate constructionist viewpoint. The study approaches the phenomenon empirically through the narratives of five entrepreneurs who are involved in business-to-business sales negotiations in the context of early internationalization. The findings reveal how early direct buyer–seller interaction is necessary for gaining customer and contextual understanding, development and validation of the offering, and building long-term relationships. Personal networks and sales agents often play a central role but entrepreneurs cannot fully outsource selling when the business opportunity is not replicable. Entrepreneurs’ international selling is characterized by their personal commitment, passion, and expertise, but also by liabilities, which combined make interactional international opportunity construction processes very personal. The study suggests that sales as a process of joint international entrepreneurial opportunity construction is a phenomenon requiring further attention by international entrepreneurship researchers.

The recognition of first time international entrepreneurial opportunities

PurposeThis paper aims to complement existing theories of internationalization by studying an important aspect which has been neglected in previous studies: the process of international entrepreneurial opportunity recognition. International market entry is conceptualized as an entrepreneurial, innovative act; and opportunity recognition consists of both discovery as well as deliberate and systematic search.Design/methodology/approachThe methodology employed involves eight case studies of small and medium‐sized enterprises (SMEs) operating in knowledge‐based industries in Australia. The unit of analysis is the “opportunity‐firm” nexus.FindingsThe paper finds that firms with little or no prior international knowledge tend to make use of opportunity discovery rather than deliberate/systematic search. In contrast, firms with extensive prior international experience and knowledge were found to deliberately search and discover their first international opportunity. International opportunity discovery did not occur simply through serendipitous encounters with new information from networks or referrals but involved interpreting possible matches between pre‐existing means (resources, skills, new technologies) and new ends (international markets) in a problem solving process. It favours those with the requisite prior knowledge and entrepreneurial orientation.Practical implicationsThe paper offers guidelines on what business practitioners and export promotion agencies can and cannot do to influence opportunity recognition process. Particular attention was paid to strategies to avoid costly deliberate search among resource‐stricken SMEs.Originality/valueThis study introduces Knightian uncertainty and Kirznerian discovery as the conceptual cornerstones of internationalization that can help account for the lack of incrementalism and optimizing logic in internationalization among smaller firms.

The Recognition of First Time International Entrepreneurial Opportunities: Evidence from Firms in Knowledge-Based Industries

Purpose: This paper aims to complement existing theories of internationalization by studying an important aspect which has been neglected in previous studies: the process of international entrepreneurial opportunity recognition. International market entry is conceptualized as an entrepreneurial, innovative act; and opportunity recognition consists of both discovery as well as deliberate and systematic search. Methodology: The methodology employed involves eight case studies of small and medium-sized enterprises (SMEs) operating in knowledge-based industries in Australia. The unit of analysis is the “opportunity-firm” nexus. Findings: Firms with little or no prior international knowledge tend to make use of opportunity discovery rather than deliberate/systematic search. In contrast, firms with extensive prior international experience and knowledge were found to deliberately search and discover their first international opportunity. International opportunity discovery did not occur simply through serendipitous encounters with new information from networks or referrals but involved interpreting possible matches between pre-existing means (resources, skills, new technologies) and new ends (international markets) in a problem solving process. It favours those with the requisite prior knowledge and entrepreneurial orientation. Practical Implications: The study offers guidelines on what business practitioners and export promotion agencies can and cannot do to influence opportunity recognition process. Particular attention was paid to strategies to avoid costly deliberate search among resource-stricken SMEs. Originality/Value: This study introduces Knightian uncertainty and Kirznerian discovery as the conceptual cornerstones of internationalization that can help account for the lack of incrementalism and optimizing logic in internationalization among smaller firms.