New Ventures: Going Local, Growing Global

Topics: Marketing, Globalization, The Ventures Pages: 3 (876 words) Published: July 10, 2013
New Ventures are getting in our world today in terms of not only going local but growing global. While some countries still like to produce and grow locally there are others that get out of their domestic route and would prefer to go internationally. (Shanker and Luo, 2007.P 11) In the publication of Toward International New Venture written by Oviatt and McDougall they explore how small organizations carry on certain characteristics that allow them to grow from being a small firm to grow big and internationalize. According to Zahra, the author mentions the factors that lie behind the INV . According to Oviatt and McDougall they further discuss that INV don’t need their own resources to grow other than they need entrepreneurships. As Zahra stresses “ entrepreneurships firms are defined by their actions not their resources.(Zahra,2005,P.23) Also it is the firms age whether or not it will go international in its growing period or it will wait for a few years in order to obtain a real grisp of the market strategy. There are certain factors that are mentioned which will help new ventures to go internationally is the geographical and culture. One of the most obstacles that would face is the place the firm would like to expand in and the culture that would accept and allow any new venture to grow. According to Oviatt and McDougall “Learning about national cultures is a challenging process that might require a thoughtful study with interactions of cultures”(Zahra,2005,P.24). One has to understand the relationship between the local competitors and the new venture that would launch. That is done by the networking and socializing with people in the same business from the local market. “Building relationships and gaining access to existing networks would help shorten the way”(Zahra, 2005.P24). If we take Dubai for an example and the Indian business that expanded in Dubai it is by building relationship with the local markets and networking through the Sheikhs or landowners...

References: Shenkar,O.& Luo.Y.(2007) International business, 2nd ed. Thousand Oaks, CA, Sage publications. 
Farrell, D 2004, 'The Case for Globalization ', International Economy, 18, 1, pp. 52-55, Business Source Complete, EBSCOhost, viewed 8 June 2013.
Zahra, S.A. (2005) ‘A theory of international new ventures: A decade of research’, Journal of International Business Studies, 36 (1), January, pp. 20–28.
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