ABSTRACT
This chapter analyzes venturing behavior in international firms at a strategic level, and focuses on the company's use of external resources and capabilities in order to achieve its venturing goals. It discusses that force for venturing is predominantly headquarters, but rather than relying on assets under hierarchical control of the firm to pursue venturing, the company seeks out and accesses resources and capabilities outside of the boundaries of the firm. The existence of markets for technology means that a firm does not have to develop all of its own technology. The existence of potential alliance partners means companies can enter into strategic alliances voluntarily, for a plethora of possible reasons, and at more or less any time. The chapter examines a role for top managers in recognizing, assessing and choosing new strategic options as a response to competitive challenges. It describes external assets through inter-organizational collaboration with strategic alliance partners and/or acquisition of new assets to seize new international opportunities.
