| Innovation and entrepreneurship have become the important means of economic development and absorbed the attention of the world. But the study of entrepreneurship in our country mostly focused on the phenomenon and behavior of entrepreneurship instead of systemic and deeply analysis, especially in the study about the path of growth and international of new venture.We can understand more clearly about the growth pattern of the new venture to analysis the choice and change of competitive strategy through its growth. At first this paper summarized the correlative theory about new venture's technologic strategy, internationalization strategy and industrial entrence strategy. So we abserved three characters of the new venture through the summarization above, Target market(local vs. global), product/market maturity (existing vs. emerging), and level of technological capability (follower vs. pioneer) and use them as key dimensions to classify competitive strategies of new ventures in the process of seeking business opportunities. Based on five successful Chinese new venture cases, we found the different growth and internationalization patterns and the factors those effect on this patterns.From our case studies, we got two different growth patterns: growth through strategic replication and growth through strategic change. These differences come from whether new ventures are pursuing a similar strategy over time or different strategies. In the internationalization of new ventures, we found the creative imitation type played an important role as a stepping-stone and a milestone for globalization.Finally, this paper analysised the factors those determined the growth patterns of new venture. Growth patterns of successful new ventures vary according to: (1) initial conditions facing firms at the time of founding, especially the entrepreneurs'characteristics and management abilities (2) technology strategy to develop and accumulate technological capability , and (3) outside environmental factors, such as capital market, revenue policy, industrial protection and technological promotion policy etc. |
