In recent years, several authors (Aspelund, et al., 2007; Keupp and Gassmann, 2009) pointed out that most of the literature on international new ventures (INVs) internationalization process focuses on the direct relationship between the antecedents – particularly the entrepreneur, the firm and/or the industry – and the outcomes of this process, namely internationalization (degree, scope and/or speed) and performance. They argue that this dominant literature stream has overlooked the important role of managerial processes leading from antecedents to outcomes. This chapter is in this vein, and provides an integrative framework of international entrepreneurship (IE) process, highlighting the relevance of managerial decisions or actions. It responds to the plea for more research about the nature of managerial decision-making and organizational behaviour of early internationalizing firms (Rialp et al., 2005). It also addresses Keupp and Gassmann’s (2009) claim for the development of an integrated or holistic framework to analyse the IE process. We intend to open the ‘black box’ of new ventures’ internationalization process. The framework encompasses managerial decisions related to absorptive capacity, competitive generic strategies, entrepreneurial alertness and networking, together with environmental, industry and market-wise moderating forces. The framework is expected to contribute to stimulate further research along these lines, enabling the enhancement of knowledge about how new ventures’ internationalization processes develops. This is a promising and exciting research avenue, whose progress demands further work, both on the theoretical and empirical fronts.