International new ventures
International new ventures refer to businesses that, from emergence, attempt to get an important competitive advantage by applying their resources for selling products or services in multiple countries. From the time they are started, these firms, which are sometimes called “global start-ups” view the world as their marketplace rather than confine themselves to a single country.
For example, Amazon.Com was an international firm from its inception and now generates 46 percent of its sales from international markets. Other new firms are not international from the start, but choose to enter international markets shortly after they gain product acceptance in the United States.
International new ventures or INVs represent a crucial and growing form of the start-up. According to Oviatt and McDougall (1994), “An INV is defined as a business organization that, from inception, seeks to derive significant competitive advantage from the use of resources and the sale of outputs in multiple countries.” The increasingly crucial role and prevalence of these new ventures indicate a requirement for more understanding of them.
Potentially, international new ventures are very interesting and important for business as well as economics. Sometimes, they bring several new organizational structures and innovations which are undoubted of greater importance. They apply several technologies, which are very crucial in this present world for surviving.
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