Market discovery and the international expansion of the firm
The objective of this paper is to formulate a theoretical framework for studies of antecedents and consequences of discoveries during international expansion. By introducing market discovery it seems to be possible to offer a richer understanding of the pattern and pace of the international expansion of a firm. Market discovery is the result of both exploration and exploitation activities, but in order to exploit market discovery, a firm must learn to handle the discovered opportunity. A discovery, usually made while a firm is conducting daily activities, occurs in connection with search, planning, routine, and improvisation. The resulting learning can lead to changes in pace, orientation, and extension of the international expansion of the firm.
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Volume (Year): 12 (2003)
Issue (Month): 6 (December)
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References listed on IDEAS
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- Forsgren, M., 2002. "The concept of learning in the Uppsala internationalization process model: a critical review," International Business Review, Elsevier, vol. 11(3), pages 257-277, June.
- Demmert, Henry & Klein, Daniel B., 2003. "Experiment on entrepreneurial discovery: an attempt to demonstrate the conjecture of Hayek and Kirzner," Journal of Economic Behavior & Organization, Elsevier, vol. 50(3), pages 295-310, March.
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- von Hippel, Eric & Tyre, Marcie J., 1995. "How learning by doing is done: problem identification in novel process equipment," Research Policy, Elsevier, vol. 24(1), pages 1-12, January.
- Ardichvili, Alexander & Cardozo, Richard & Ray, Sourav, 2003. "A theory of entrepreneurial opportunity identification and development," Journal of Business Venturing, Elsevier, vol. 18(1), pages 105-123, January.
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