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Essay / Entrepreneurial and innovative business culture
Introduction: The publication of Oviatt and McDougall's book "Towards a Theory of New International Enterprises" in 1994 focused worldwide attention on the growing role of young people companies in the global market. The authors highlighted the importance of smaller, younger companies and their distinctive characteristics that allow them to internationalize quickly and create value for their owners and founders. The article by Zahra Shaker (2005), which builds on the seminal work of Oviatt and McDougall mentioned above, is essentially based on some very complex characteristics which are at the basis of the success of new international companies: entrepreneurial qualities of the company. Literature review / Theoretical foundations: These are mainly linked to the shareholders-managers of the company. Individuals who have international experience and intuition, risk taking, open recognition of international business opportunities, i.e. “founder knowledge of opportunities” based on the following characteristics: a) Orientation towards the market; b) Orientation towards learning; c) propensity for innovation; d) Risk-oriented; e) Network oriented; f) Motivation oriented; g) Capacities and capabilities, both economic and organizational, to face and exceed the typical responsibilities of a new business; h) Inexperience and novelty limit the exploitation of resources and networks; i) Small, proportional to available resources and the scalability of operations, both in terms of production capacity and internationalization itself; j) Understanding and learning new cultures, which potentially takes time. These responsibilities must be overcome by a very conscious management of economic resources, a rigorous selection of human resources...... middle of paper ...... el is reactive in specific markets and in particular where investment in Capital, at least during the first years of the life cycle, is not as decisive. For example, it will be more difficult to imagine the success of the same model in a very intensive sector like oil and gas. For such industries, capital, experience and a consolidated supply base are essential. Reference list: Grove, A. (1983) High Output Management. Random House (NY). Grove, A. (1996) Only the Paranoid Survive. DoubledayBrunelli, R. (2011) Intel (NASDAQ: INTC) Far East Connection. Journal of Financial News [Online]. Available at: http://www.emoneydaily.com/intel-nasdaqintc%E2%80%99s-far-east-connection/6987801 (Accessed May 10, 2011)Zahra, S. (2005) A Theory of International New Ventures : A decade of research, Journal of International Business Studies