In an increasingly globalized economy, entrepreneurs need to internationalize to remain competitive. Expanding into new international markets requires resources and as entrepreneurial organizations are typically resource-poor, the aim of this study is to examine the processes by which entrepreneurs seek external sources to provide critical resources required to internationalize. A qualitative approach of in-depth face interviews with twelve entrepreneurs in the healthcare industry form the context of this research. Eight of these entrepreneurs are from the health and medical sector and four are from the health and wellbeing sector. Results indicate that while pre-existing personal networks provide much needed resources, equally important are organizational networks of government export agencies, industry and professional associations. These organizational networks, being able to offer a much wider breath of resources, are in fact, instrumental in the success of entrepreneurs' international new ventures. Furthermore, results suggest that while there are similarities in the resource-seeking behavior of entrepreneurs in both sectors, key differences are noted in the way entrepreneurs collaborate with networks of competitors, government export agencies and industry/professional associations. This paper contributes empirically to knowledge building in the study of resource-seeking strategies of internationalizing entrepreneurs.
|Title of host publication||New insights into operating across borders|
|Subtitle of host publication||from traditional to emerging markets : proceedings of the Australia and New Zealand International Business Academy 2013|
|Editors||Robert Jack, Lucy Taksa|
|Place of Publication||Sydney|
|Number of pages||2|
|Publication status||Published - 2013|
|Event||Annual Australia & New Zealand International Business Academy Conference - Sydney|
Duration: 18 Apr 2013 → 20 Apr 2013
|Conference||Annual Australia & New Zealand International Business Academy Conference|
|Period||18/04/13 → 20/04/13|
- Resource-seeking Processes
- Network Resources
Chang, F. Y. M., & Webster, C. M. (2013). Entrepreneurs’ search for resources in the internationalization process: the role of personal and organizational networks. In R. Jack, & L. Taksa (Eds.), New insights into operating across borders: from traditional to emerging markets : proceedings of the Australia and New Zealand International Business Academy 2013 (pp. 1-2). Sydney: ANZIBA.