Hi,
Yes they can. If the owners or board have an innovation and entrepreneurial attitude they will expand the company trought internacionalization. But you also need to analyde home country and foreign countries support institutions to internacionalization, networking, market competition.
Yes. Owners are crucial. They help attract other investors who depending on share ownership can land positions in the board. So even the other substantial board members should be shrewd enough to make prudent decisions for the company.
Investors, founders and members of the board are all crucial. In the case of a science based firm, it is also important that they bring together the right balance of technical as well as commercial acumen. You could see:
Knockaert, M., Ucbasaran, D., Wright, M., & Clarysse, B. (2011). "The relationship between knowledge transfer, top management team composition, and performance: The case of science based entrepreneurial firms", Entrepreneurship, Theory & Practice, July Issue, 777-803.
From my point of view and based on the last 6 years assisting entrepreneurs to launch startups and SME's into the market in Brazil, Latam and few others, I would say that the board composition will play an important role on supporting the company and the entrepreneur to move into new markets overseas. However the entrepreneur's profile is the most important one and unless he/she is driven to go global the company might suffer since it limits itself based on the entrepreneur's vision for it. Having said that, the foremost important role for the board will be to make sure the entrepreneur has embedded the vision of moving overseas since the size and shape of all challenges will be completely different.
Entrepreneurial orientation for all firms is surely a function of the ownership and board composition. While looking for corporate governance, you must appreciate that small firms have hardly the expertise in corporate governance.
Most will agree that ownership and board membership play a crucial role regarding the vision and strategy of a small enterprise. My question would be, are there not many other goals and issues at hand before considering going global?
I do not appreciate the phrase "International entrepreneurial orientation" as Entrepreneurial orientation is Entrepreneurial orientation. Local, regional, national and International are only context/scope.
Whether the board composition or the profile of the entrepreneur (s) is more important is driven by the size and scope of the business, technology and innovation level, govt. policies etc.
yes if there is a business orientation and management is not a stockholder. May be a good solution for family firm business oriented.
Can you explain what is 'International entrepreneurial orientation' as any entrepreneurial orientation in today's world has to be international.
Arun Aditya Sahay: Thanks for your additions to the line, my question was based on the role of ownership and board members in the small and medium sized export oriented companies towards their International Entrepreneurial Orientation.
As a rule, such sort of link can be found at public companies, rather large than small. Browse the thematical collections of free papers on corporate governance at our web-site https://www.virtusinterpress.org/A-set-of-updated-thematic-paper-collections-from-Virtus-Interpress.html to find more than 30 thematical collections. There is a great variety of topics.
As a board member, angel investor and venture builder myself, I can attest that the answer is yes. Empirically speaking, ownership and board composition can effectively lead to internationalization. I have seen it and done it over the last years, including 1 exit last week in which the startup was launch already internationally and by successfully growing sales in different markets, reached a point in which it was acquired by a larger company.
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