ABSTRACT
The entrepreneurial marketing of international new ventures (INVs) is determined by the external and internal environment. As INVs operate in international markets which are usually complex and turbulent, it affects the basic elements of their internal environment, i.e. market orientation and entrepreneurial orientation, as well as organizational climate.
The chapter presents the review of studies on INVs’ global vision as a managerial determinant of entrepreneurial marketing, and on some of its organizational determinants: INVs’ market life cycle and decision-making processes. INVs are subject to a specific market life cycle which differs from a traditional scheme. The basic differences are: fast growth of foreign sales, efficient process of learning, and founders’ commitment to designate resources to explore foreign market opportunities.
The analysis of two decision-making mechanisms in INVs: effectuate and causal helps to understand the relationship between effectuation and early internationalization of companies. These two mechanisms may however overlap, depending on a host of variables, like the stage of the company’s market life cycle. The complex role of decision-making as one of the EM determinants in INVs is explored in the chapter, which supplements significantly the theory of international entrepreneurship.
