ABSTRACT

In Context C, we will analyze venturing behavior in international firms at a strategic level, and with a focus on the company’s use of external resources and capabilities in order to achieve its venturing goals. In this context, the force for venturing is predominantly headquarters, but rather than relying on assets under the hierarchical control of the firm to pursue venturing, the company seeks out and accesses resources and capabilities outside of the boundaries of the firm. The existence of markets for technology means that a firm does not have to develop all of its own technology (Van Rooij, 2005). The existence of many potential alliance partners means companies can enter into strategic alliances voluntarily, for a plethora of possible reasons, and at more or less any time (Gulati, 1998; Haskell et al., 2016; Inkpen and Tsang, 2005; Wassmer, 2010). This context involves: (1) a role for top managers in recognizing, assessing and choosing new strategic options as a response to competitive challenges (in this respect having some similarity to Context A); but (2) using external assets through inter-organizational collaboration with strategic alliance partners and/or acquisition of new assets in order to seize new international opportunities.