Our research paper that develops an INV's internationalisation strategy formulation framework is available free of charge on SSRN.
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We have summarized our research in an article for managers. It shortly introduces a reader to the topic and describes the idea behind our framework. Please refer to the research paper for details.
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International new ventures (INVs) and born globals, companies that internationalise from inception, have existed for centuries, but they gained popularity only about 20 years ago. Our work develops a framework for the INV internationalisation strategy formulation using existent international entrepreneurship and international business models. We analyse 12 INVs from the Baltic States to test the framework and identify 4 viable INV internationalisation strategy configurations. Then we detect a link between business models, which we proxy by universal internationalisation goals, and INVs` internationalisation strategy configurations. The INVs that employ simpler business models and internationalise only to increase sales choose limited geographical scope and easier to implement strategy configurations, namely export start-ups and geographically focused start-ups. More complex business models that require internationalisation to survive impose more demanding global strategies – multinational traders or global start-ups. The framework employs a configuration approach, but is prescriptive in nature and is practically applicable in the INV`s strategy formulation process to help founders develop and formalise cohesive viable international strategies.