BUSINESS INTERNATIONALIZATION - CONDITIO SINE QUA NON OF ENTREPRENEURIAL VENTURE SUCCESS
DOI:
https://doi.org/10.7251/ZREFIS1612011BKeywords:
entrepreneurship, aspirations, internationalization, entrepreneurial ventureAbstract
The incentive for launching an entrepreneurial venture determines also the entrepreneur’s striving towards the growth of the venture, development of innovation or business internationalization. Assessment and understanding of outcomes of the launched entrepreneurial venture is possible if one have insight into both endeavor and motivation of an entrepreneur towards expressed entrepreneurial initiative. Entrepreneurs as holders of the entrepreneurial process based on recognition and profitable exploitation of identified opportunities, often find possibilities of venture growth outside the borders of their country. Internationalization of business is available to new established entrepreneurial ventures. Using available technologies, innovative products/services and available market, they find potential for entrepreneurial venture growth outside the framework of national economies. Therefore, the subject of this paper is analysis of the impact of the business internationalization on entrepreneurial venture, observing it towards maturity stage of entrepreneurial ventures. The aim of this paper is to determine relationship between business internationalization and maturity of entrepreneurial venture. For the purpose of analysis of interaction between the observed variables, database of Global Entrepreneurship Monitor has been used. For statistical analysis Spearman's correlation coefficient has been used. The results of statistical analysis confirmed a positive correlation between the level of business internationalization and maturity of the entrepreneurial venture. Also, a positive correlation has been confirmed between the level of education and business internationalization. Within this relationship, higher degree of entrepreneurial education simultaneously means a higher degree of business internationalization.References
Acs, Zoltan, Leo-Paul Dana, and Marian V. Jones. "Toward new horizons: the internationalisation of entrepreneurship." Journal of International Entrepreneurship 1, no. 1 (2003): 5-12.
Andersen, Otto. "On the internationalization process of firms: a critical analysis." Journal of international business studies (1993): 209-231.
Brockner, Joel, E. Tory Higgins, and Murray B. Low. "Regulatory focus theory and the entrepreneurial process." Journal of Business Venturing 19, no. 2 (2004): 203-220.
Cardon, Melissa S., Charlene Zietsma, Patrick Saparito, Brett P. Matherne, and Carolyn Davis. "A tale of passion: New insights into entrepreneurship from a parenthood metaphor." Journal of Business Venturing 20, no. 1 (2005): 23-45..
Carr, Jon C., K. Stephen Haggard, Keith M. Hmieleski, and Shaker A. Zahra. "A study of the moderating effects of firm age at internationalization on firm survival and short-term growth." Strategic Entrepreneurship Journal 4, no. 2 (2010): 183-192.
Christensen, Poul Rind, and Universim ofSonrhern Denmark. "36. International entrepreneurship: a new concept and its research agenda." (2003).
Časas, Ramūnas, and Vilma Dambrauskaitė. "Factors of the Innovation-Friendly External Business Environment in Lithuania, Promoting the Emergence of the “Born Global” Companies." Business: Theory and Practice/Verslas: Teorija ir Praktika 12, no. 4 (2011): 303-314.
Davis, Peter S., and Paula D. Harveston. "Internationalization and organizational growth: The impact of Internet usage and technology involvement among entrepreneur-led family businesses." Family Business Review 13, no. 2 (2000): 107-120.
Dietrich, Hans. "Empirische Befunde zur selbständigen Erwerbstätigkeit unter besonderer Berücksichtigung scheinselbständiger Erwerbsverhältnisse." Mitteilungen aus der Arbeitsmarkt-und Berufsforschung 32, no. 1 (1999): 85-101.
Fernhaber, Stephanie A., and Dan Li. "The impact of interorganizational imitation on new venture international entry and performance." Entrepreneurship Theory and Practice 34, no. 1 (2010): 1-30.
Rahimian, Paria. "The study of barriers to entrepreneurship in men and women." Australian Journal of Business and Management Research Vol 1, no. 9 (2011): 31-36.
Kuratko, Donald F. "Entrepreneurship education: Emerging trends and challenges for the 21st century." White Paper, US Association of Small Business Education (2003).
Leonidou, Leonidas C., and Constantine S. Katsikeas. "The export development process: an integrative review of empirical models." Journal of international business studies (1996): 517-551.
Oviatt, Benjamin M., and Patricia P. McDougall. "Defining international entrepreneurship and modeling the speed of internationalization." Entrepreneurship theory and practice 29, no. 5 (2005): 537-554.
Reynolds, Paul Davidson, and Sammis B. White. The entrepreneurial process: Economic growth, men, women, and minorities. Praeger Pub Text, 1997.
Sapienza, Harry J., Erkko Autio, Gerard George, and Shaker A. Zahra. "A capabilities perspective on the effects of early internationalization on firm survival and growth." Academy of management review 31, no. 4 (2006): 914-933.
Welter, Friederike, and David Smallbone. "Exploring the role of trust in entrepreneurial activity." Entrepreneurship Theory and Practice 30, no. 4 (2006): 465-475.
Wickham, Philip A. Strategic entrepreneurship. Pearson Education, 2006.
Welch, Lawrence and Reji S.Luostarinen. "Internalization: Evoluation of a Concept Journal of General Management." the Braybrooke Pres Limited, c 14 (1988).
Zucchella, Antonella, Giada Palamara, and Stefano Denicolai. "The drivers of the early internationalization of the firm." Journal of World Business 42, no. 3 (2007): 268-280.
Downloads
Published
Issue
Section
License
Copyright (c) 2016 Zbornik radova Ekonomskog fakulteta u Istočnom Sarajevu
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
