Payday loan – your chance to be flexible
Oviatt and McDougall (1994) placed a great deal of emphasis on the individual level internationalization experience on early and rapid internationalization. The entrepreneurs of such firms have a great deal of international experience as well as social capital. These people were in many cases earlier employees of the MNEs and were extremely competent in doing what they started off. These entrepreneurs could sense the problems of MNEs associated with being big and infl exible. They created nimble organizations which were global in their outlook since the beginning and yet did not face the rigidities which came naturally to the big MNEs. Being new and small was their advantage rather than disadvantage. Such an experience played a very crucial resource in the internationalization of these fi rms.
However, entry into foreign markets require a considerable amount of knowledge. Researchers have argued that it may be diffi cult for small firms to have access to such knowledge (Liesch and Knight, 1999). However, such knowledge is not always proprietary and many a times publicly available through government agencies, export intermediaries, and so forth, or even through friendly fi rms (such as, sister affiliates in a business group). This could be one of the reasons why newcomers as well as latecomers can leapfrog in their internationalization efforts. Entrepreneur’s social capital plays a big role in obtaining such knowledge without incurring much cost.
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