Handbook of Research on European Business and Entrepreneurship
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Handbook of Research on European Business and Entrepreneurship

Towards a Theory of Internationalization

Edited by Léo-Paul Dana, Isabell M. Welpe, Mary Han and Vanessa Ratten

This unique Handbook illustrates how entrepreneurs across Europe tackle internationalization. This timely and important book identifies patterns and builds a theory of international entrepreneurship in Europe.
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Chapter 17: Growth of Archetypon S.A.: Exploitation of Opportunities in Greek and European Marketplaces

Irini Voudouris and Pavlos Dimitratos


Irini Voudouris and Pavlos Dimitratos Introduction Although international entrepreneurship has been a field of emerging interest for more than a decade, it recently shifted its emphasis to the study of opportunity identification. Previous attempts to demarcate the boundaries of this field have centred on the speed of internationalization of the firm as the key criterion distinguishing an international entrepreneurial firm (e.g. McDougall, 1989; Oviatt and McDougall, 1994), yet recent writings increasingly emphasize the notion of exploitation of opportunity by the international entrepreneurial firm (Dimitratos and Plakoyiannaki, 2003; McDougall and Oviatt, 2005). Dimitratos and Jones (2005) assert that the theme of ‘international opportunity perception’ may form one of the most important and well-researched fields in international entrepreneurship study in the future. In spite of this, existing empirical evidence on this issue seems to be missing. In particular, we appear to lack evidence on how entrepreneurial firms evaluate and act upon opportunities that may appear in the marketplace. It may be that opportunities arise at home or abroad, and so an examination regarding the pursuit of profitable prospects by the entrepreneur should take place everywhere the firm seeks opportunities, regardless of the locus of the market. Apart from this, it would be interesting to investigate how firms pursue opportunities mobilizing scarce resources in dynamic environmental contexts that offer significant opportunities for growth. Towards these objectives we aim at providing some empirical evidence in this chapter. The issue of exploitation of opportunities is ignored in the international entrepreneurship research, and...

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