ABSTRACT
This chapter seeks to provide and create a theoretical framework for understanding entrepreneurs, entrepreneurial activities and international new ventures (INVs). It discusses the several subsections, each addressing a different facet of the argument directed at the Phelan's model. The chapter argues that these efforts, for the purposes of defining a conceptual model relating to INV creation, should to be subordinated to the human factor considerations—the entrepreneur as the origination point for the discussion. The entrepreneur is the driving force and by becoming socially astute and social competent will develop the necessary entrepreneurial networks capable of assuring success for new INVs. Social astuteness is "the ability to influence the expectations of potential and existing stakeholders so they will commit resources to a business network on favorable terms". While social astuteness can be considered an aspect of social competence, "not all socially competent people have developed the ability to manage expectations".
