Internationalization, innovation and entrepreneurship: business models for new technology-based firms
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Internationalization, innovation and entrepreneurship: business models for new technology-based firms Alberto Onetti • Antonella Zucchella • Marian V. Jones • Patricia P. McDougall-Covin
Published online: 10 August 2010 Springer Science+Business Media, LLC. 2010
Abstract New technology-based firms, particularly those that develop their business around a new technological platform, are likely to be impacted by globalization, in terms of both pace of innovation and pressure of competition. For these firms, strategic decisions and growth processes are characterized by a deep interrelationship amongst the processes of internationalization, innovation and entrepreneurship; processes which have tended to be examined independently in distinct bodies of literature. In practice strategic decisions concern each of these processes and address issues such as organizational boundaries, location of the operational activities, what activities to focus on and selection of value partners. The business model by which firms operate needs also to accommodate the spatial dimensions indicated by globalization; and the emergence of global technology markets. Little is known to date about the extent to which business models accommodate or are adapted to internationalization, innovation and entrepreneurship. This paper presents a review of the business model literature from which a generic business model framework is derived, identifying and introducing the main elements of these A. Onetti (&) Faculty of Economics, University of Insubria, Via Monte Generoso 71, 21100 Varese, Italy e-mail: [email protected] A. Zucchella Faculty of Economics, University of Pavia, Via San Felice 5, 27100 Pavia, Italy e-mail: [email protected] M. V. Jones Business School, Department of Management, University of Glasgow, University Avenue, Glasgow G12 8QQ, Scotland, UK e-mail: [email protected] P. P. McDougall-Covin Kelley School of Business, Indiana University, Bloomington, IN 47405, USA e-mail: [email protected]
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processes as the firms’ focus, modus and locus. This contribution makes a clear distinction between the business model and the strategy concepts and highlights the relevance of location decisions—not considered by extant business model literature to date. While our discussion draws on the high technology new venture as our primary example, we believe our business model conceptualization has general applicability. Keywords Business model Entrepreneurship Internationalization Innovation Technology-based firms
1 The framework: the interaction among entrepreneurship, innovation and internationalization Entrepreneurship is a process whereby firms and individuals in firms (entrepreneurs) explore and exploit opportunities (March 1991), leveraging their ability to manage uncertainty in a proactive way. The current business environment is characterized by growing complexity, triggered by hyper-competition (D’Aveni and Gunther 1994) and globalization (Knight 2000). Within this framework, e
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