International Entrepreneurship in the Life Sciences
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International Entrepreneurship in the Life Sciences

Edited by Marian V Jones, Colin Wheeler and Pavlos Dimitratos

In this thought-provoking book, leading experts explore why international entrepreneurship is important to the life sciences industry. From multi-disciplinary and cross-national perspectives, they question why international entrepreneurship scholars might usefully invest interest in research focused on one specific industry context.
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Chapter 11: Performance Trade-offs: Success, Revenue and Profitability

Colin Wheeler, Marian V. Jones, George Vlachos and Pavlos Dimitratos


Colin Wheeler, Marian V. Jones, George Vlachos and Pavlos Dimitratos INTRODUCTION There is a continuing debate in the literature about the measures that should be used to assess and compare the internationalization and performance of firms that are at different points in their development and are experiencing different growth rates. Indeed, there is growing recognition that small-firm internationalization is a complex phenomenon, which may not be adequately assessed with the use of simple aggregate measures (Manolova and Manev, 2004; Jones, 1999; Jones and Coviello, 2005; Hult et al., 2008). This chapter is a response to calls for research to address the wider impact of internationalization on firms (Manolova and Manev, 2004). Using data from a qualitative empirical study of 20 firms in the medical products and life sciences industries that are either owned or managed by at least one of the founding entrepreneurs and have already commenced a process of internationalization, a series of questions are explored about the measurement and impact of internationalization and performance on the sample firms. PERFORMANCE STUDIES OF SME INTERNATIONALIZATION The literature on international marketing and international entrepreneurship has drawn attention to both weaknesses in the ways of measuring the impact of internationalization and performance and a lack of focus on the overall impact of internationalization on the firm (Manolova and Manev, 2004; Aspelund, Madsen & Moen, 2007; Rialp, Rialp & Knight, 2005; Dimitratos, Lioukas & Carter, 2004). 213 M2698 - JONES TEXT.indd 213 17/08/2011 10:40 214 International entrepreneurship in the life sciences Pattern Antecedents Internationalization Firm...

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