Entrepreneurial founding team exits in rapidly internationalising SMEs: A double edged sword |
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| Institution: | 1. The Business School, University of Colorado Denver, Denver, CO 80217, USA;2. SolBridge International School of Business, Daejeon 300-814, Republic of Korea;3. Bill Greehey School of Business, St. Mary''s University, San Antonio, TX 78228, USA;1. Faculty of Economics and Business, University of Groningen, PO Box 800, 9700 AV Groningen, The Netherlands;2. Alumnus, Faculty of Economics and Business, University of Groningen, PO Box 800, 9700 AV Groningen, The Netherlands;1. Department of Strategic Management, Guanghua School of Management, Peking University, Beijing 100871, China;2. Business School, Loughborough LE11 3TU, UK;3. Sir John Cass Business School, City University London, London EC1Y 8TZ, UK;4. Vienna University of Economics and Business, Austria;5. Centre for Management Buyout Research, Imperial College Business School and University of Ghent, UK;1. School of Business, Renmin University of China, Haidian District, Beijing 100872, China;2. School of Economics, Renmin University of China, Haidian District, Beijing 100872, China;3. School of International Economics & Business, Nanjing University of Finance & Economics, Nanjing 210046, China;4. Nottingham University Business School, University of Nottingham, Jubilee Campus, Nottingham NG8 1BB, United Kingdom;1. Department of Marketing, Aalto University, School of Business, Finland;2. Faculty of Social Sciences, Tampere University, Finland;3. University of Newcastle, Newcastle Business School, Faculty of Business & Law, Australia |
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| Abstract: | Entrepreneurial founding teams (EFTs) are often essential to new venture creation and successful internationalisation. Although the composition of EFTs has been the subject of enquiry, little research exists into the exit of team members and the consequences for rapid internationalisation. We focus on EFT exits in rapidly internationalising small firms and develop categories of EFT exits. We explore the motivations and subsequent impact on internationalisation of case firms to illustrate each category/type of EFT exit. We find that exits are prevalent in the early stages of ventures, and may be either consensual or non-consensual. There are a number of motivations evident and EFT exits are often critical to continued internationalisation. We offer that EFT exits are not always negative, they can allow for the appropriate deployment of resources, extending RBV/KBV as whilst much research effort has been devoted to establishing what new resources/knowledge should flow into a firm, we show that to shed an EFT member and redeploy resources/knowledge can act as a catalyst to further internationalisation. Finally we discuss research, managerial and policy implications. |
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| Keywords: | Entrepreneurial founding teams Team exits Rapid internationalisation RBV KBV Resource redeployment |
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