Value Creation During Different Development Stages: What Changes When an Entrepreneurial Firm Transforms into a Multinational Corporation?

In this chapter, we report on transformations of an entrepreneurial firm during its internationalisation. We propose the use of a prediction/control framework to explain how an entrepreneurial firm gradually changes into a multinational corporation. During the processes of expansion the firm deploys different behaviours that indicate shifting mindsets from approaches that can be characterised as entrepreneurial to behaviours considered as managerial. Following a firm’s development from inception to its end as independent entit,y we discuss how the cross-roads between Entrepreneurship and International Business disciplines might create synergies beyond their own confines by establishing International Entrepreneurship as a meaningful field of study.