IntroductionThe article "A Theory of International New Ventures: A Decade of Research" by Zahra (2005) is based on the results of research initiated by the work of Oviatt and McDougall (1994) "Toward a theory of international new ventures. In this article, Zahra (2005) builds on the authors' research framework, highlighting aspects that expand on the original article and underlining those that require re-examination in light of accumulating empirical findings. international entrepreneurship" developed by Oviatt and McDougall (1994) inserts international business theory into an integrated model of International New Ventures (INV) with an approach based on unique resources and network relationships facilitated by information and communication technologies. Defined as a business organization formed for the purpose of deriving significant competitive advantage from using resources and selling products in multiple countries, INVs play a critical role in today's global economy as recent global conditions have made the form competitive of INV organization (Oviatt and McDougall, 1994). Literature Review The emergence of INVs is one of the defining characteristics of modern global capitalism (Oviatt and McDougall, 1994). These INVs benefit from the globalized economy in various ways by extending their technological learning by tapping into various sources of innovation and competitive advantages, as found in the results of a study by Zahra, Ireland, and Hitt (2000). Oviatt and McDougall (1994) identified four types of INVs using two dimensions: coordination of value chain activities and number of countries involved, i.e. export/import start-ups, multinational trader, geographically focused start-ups and start-ups -up global... ... middle of paper …….D. and Hitt, M.A. (2000) 'International expansion by new venture capital firms: International diversity, market entry modes, technological learning, and performance', Academy of Management Journal, 43 (5) pp. 925-950. Business Source Premier (online). Available at http://ehis.ebscohost.com.ezproxy.liv.ac.uk/ehost/ (Accessed: 8 April 2012). Zahra, S. & George, G. (2002) 'International Entrepreneurship: The Current Status of the Research Agenda in the Field and the Future'. In M. Hitt, D. Ireland, D. Sexton, & M. Camp (Eds.). Strategic entrepreneurship: Creating an integrated mindset. Oxford: Blackwell, 255-288. Zahra, S.A. (2005) "A theory of international new ventures: a decade of research", Journal of International Business Studies, 36 (1) pp. 20–28. Business Source Premier (Online) Available at www.jstor.org.libproxy1.liv.ac.uk/stable/pdfplus/3875288.pdf (Accessed: 10 April 2012).