Entrepreneurial marketing decision-making in rapidly internationalising and de-internationalising start-up firms
journal contributionposted on 23.11.2018, 13:50 by Jim Crick, David Crick, Shiv Chaudhry
This study utilises an effectuation lens to contribute to knowledge involving the entrepreneurial marketing practices of rapidly internationalising firms, following a temporary discontinuation of overseas sales. This is important since earlier studies typically focus on continuing overseas activities, not de-internationalisation. Semi-structured interviews took place with owner-managers of sixteen small, UK based, knowledge-intensive start-ups, before planned re-internationalisation occurred. All management teams were proactive, took risks, exploited innovation and engaged in opportunity-driven plus resource leveraging behaviour. Conversely, creating adequate ‘customer value’ did not occur. The investigation highlights that in particular contexts, certain facets of an effectuation approach outweigh others and the notion of ‘affordable losses’ is viewed in both financial and non-financial terms. The study offers unique insights into the need for decisionmakers in rapidly internationalising firms to undertake validation of strategies to discover new customers; also, the potential usefulness to lose particular customers, even temporarily, to facilitate enduring entrepreneurial marketing activities.
- Business and Economics