Early Internationalizing of Small-Medium Firms

Internationalization is not an odd term in business, and increasing numbers in the business world show this phenomenon as a vital element that must be emphasized and practiced by an organization to become the top company in international markets. Born global has become a new entity entering the global market and rapidly evolved to catch up and maintain its pace with international new ventures. Gaining the upper hand in the international market has motivated the born global entity to compete with other giant companies in the same markets. This chapter's findings enlighten the crucial parts of the definition between these two terms supported with previous studies that encompass gaps, conventional and new ventures, and the advantages versus liabilities that existed in the new venture firms. In addition, this chapter's discussions would offer better justification and views in global market perspectives.

Success Indicators Influencing Choice Between Born Global and Born Regional Approach

This paper explores the differences between born global firms and born regional firms. It compares performance between born regional firms and born global firms within the same industry. This paper would investigate three independent variables which are: firm performance, firm size, and model on a company’s strategy. I argue that despite key success indicators being almost similar in both born global firms and born regional firms, there exist some unique commonality in born global firms that are not evident in born regional firms, and vise-versa. This uniqueness motivates them to internationalize quicker than born regional firms. This paper would contribute to IB research by explaining the motivations behind behaviors of international venture firms Keywords: Born global firms, Born regional firms, international venture firms, Internationalization, resource based theory, stakeholder theory, shareholder theory

Asian Financial Crisis and Transformation of Korean Capitalism

This chapter examines how the Korean state could continue its state-led developmentalism even when state interventionism was pointed out as a main culprit for the economic crisis of 1997. The 1997 Asian financial crisis prompted serious reflection upon the problems of Korea’s input-oriented developmentalism, as well as the ineffectiveness of state intervention. However, to solve the economic crisis of 1997, Korea did not abandon state-led developmentalism, but developed another version of state-led developmentalism, emphasizing the promotion of strategic hi-tech venture firms and SME parts industries. This chapter first examines the competing diagnoses and solutions to the economic crisis of 1997, and then explores how, through politics between the state and large corporations, the existing volume-oriented expansionism changed toward a knowledge-intensive strategy. Finally, this chapter examines how competition among economic ministries, including the Ministry of Industry (MoI) and the Ministry of Information and Communications (MIC), drove the evolution of Korean industrial policy.

Internationalisation path heterogeneity and growth for international new ventures

An increasing number of new venture firms are internationalising their business operations early in their lifecycles to achieve superior performance. Taking the perspective of dynamic capability theory, our study sheds light on the effect that heterogeneity in experiential learning has on international new venture (INV) growth in terms of a curvilinear relationship. Specifically, we introduce the concept of internationalisation path heterogeneity to capture the path-specific features of INV experiential learning and capability building and explore the relationship between internationalisation path heterogeneity and INV firm growth. We also argue that this relationship will be moderated by environmental munificence because the cost and benefit of path heterogeneity is bounded. We test the hypotheses based on empirical analysis of a longitudinal dataset of 1054 INVs from 58 countries. Overall, this study provides a dynamic and fine-grained view of the role played by internationalisation path heterogeneity in driving the growth of INVs.

Antecedents and Impact of E-commerce Adoption among New Venture Firms: Evidence from Tourism and Hospitality Industry

Newly created ventures face many challenges, of which, successfully competing with rivals is a daunting task. In order to grow, and turn profitable, start-up firms must extensively search for strategies that create and sustain competitive advantage. Adoption of e-commerce is considered as a very potent strategy to beat competitors and generate profits. Taking tourism and hospitality, an information-intensive industry, this study set two primary objectives regarding e-commerce adoption. First, to investigate the antecedents of e-commerce adoption and second, to gather empirical evidences about the impact of e-commerce adoption on such firms. The study was motivated by the paucity of literature on adoption of e-commerce by start-up firms, especially in the tourism and hospitality industry. The empirical results showed that market- and organization-related factors were prime determinants of e-commerce adoption by start-up firms. The study also confirmed the improved performance of tourism and hospitality start-ups as a result of e-commerce adoption.