The INV phenomenon
Analysts have pointed out to the contribution of small and medium enterprises and taken note of their increasing participation in imparting information and handling skills at the internationallevel. A major reason for Oviatt and McDougall¶s (1994) research being at the receiving end of intense scrutiny is because of their acceptance of INVs as a business entity which from the very beginning makes efforts to gain considerable benefits by using assets and selling its products inmany nations. (p. 49). Hence, globalization is viewed to imply a great deal for the proper growthof firms, sustainment and progress.
Types of international new venture
Oviatt and McDougall (1994, 52±54) applied two aspects to examine four varieties of INVs:managing the value series tasks and the extent to which nations are involved (some versusseveral.) Using these two aspects produced four varieties: new enterprises, global sellers,regional entities and international units. Oviatt and McDougall applied research and rationality tosuggest that these various types of INVs have a host of added benefits.Based on perspectives gained from studies on enterprises, Oviatt and McDougall(1994) provedthat INVs have individual benefits which permit them not just to outshine their foes but alsorapidly beat the competition resulting in expansion and development. These perspectives andassertions are a reaction to and have taken forward Casson's initial projects which recommendedthe requirement to factor in the companies' enterprise aspects at the time of deliberatingglobalization. Analysts have taken up on Oviatt and McDougall's (1994) recommendations toespecially concentrate on the aspects of companies while deliberating on globalization choices.
Dynamism of International Business Environments
Owing to the vigorousness of the foreign industry scene, one must halt and find out thefrequency and manner in which the four INVs vary their methods and techniques. It is alsocrucial to examine the circumstances that motivate INVs to behave thus and to factor in theoutcome of these variations in order to progress and make profits. For instance, we must have