Journal
INDUSTRIAL MARKETING MANAGEMENT
Volume 42, Issue 8, Pages 1357-1373Publisher
ELSEVIER SCIENCE INC
DOI: 10.1016/j.indmarman.2013.07.011
Keywords
International new ventures; Born globals; Growth; Survival; Effectuation
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The growth and survival of international new ventures (INVs) has not been the subject of extensive in-depth qualitative study and our understanding of their decision-making is deficient. On the basis of empirical analyses in a small and open economy, a dynamic model was developed that explains the growth phases through which INVs pass as they mature in the high-technology business-to-business field. The model also recognizes rapid advancement, survival crises, and retrenchment. Propositions were devised regarding the impact of opportunities, resources and capabilities, entrepreneurial orientation, and learning on growth phases and survival. A novel finding is that the decision-making logic moderates the impact of these factors. These findings have important implications for industrial marketing scholars and practitioners. (c) 2013 Elsevier Inc. All rights reserved.
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