Dynamic managerial capability of technology-based international new ventures-a basis for their long-term competitive advantage

The article focuses on long-term development of technology-based international new ventures (INVs) and discusses aspects of managing such ventures once they are past the initial success and rapid internationalization and enter the stable development phase. The study builds on an in-depth process case study of a technology-based INV conducted over the period of 3.5 years, starting 8 years into the firm's history. This unique design has enabled close observation of the specific events and challenges, the firm has been facing after its initial success, and of the aspects in the firm's management that have enabled the INV to survive challenging events and periods in its development, including partial change of ownership and management, the international economic recession, adaption of its managerial processes to stable operations rather than entrepreneurial search and choice of markets in relation to resource availability. The study takes the dynamic capability perspective and focuses on INVs' management, which are seen as founders and builders of the processes, rules and structures that lay the basis for long-term competitive advantage for such firms. Based on the findings, specific aspects of the dynamic managerial capability of technology-based INVs are conceptualized and summarized into a set of propositions and a model.