Drawing on the dynamic capabilities perspective and the resource‐based view (RBV) of the firm, this paper seeks to further understanding of international new ventures (INVs) operating in a traditional low technology sector – an understudied context in international entrepreneurship.
Exploratory research merited qualitative research as the chosen methodology. Multiple case study design and critical incident technique were the main qualitative techniques employed.
The case entrepreneurs' objective and subjective capabilities emerge as a critical key resource for strategically managing and developing the dynamic capabilities of the firm in areas of research and development (R&D), logistics and production. The firms' capability to adapt and renew themselves through product diversification strategies was also critical for sustainable competitive advantage in a highly turbulent and competitive sector of seafood.
The study is sector‐specific and, while the sample size is small, findings are consistent. The paper presents a conceptual research framework for exploring further dynamic capabilities theory across diverse empirical high and low‐tech industry contexts.
Low technology sectors are considered a “forgotten sector” of innovation policies in small‐developed economies. Findings from this study identify a number of important implications of relevance to policy‐makers and managers.
This study contributes to the knowledge and understanding of how INVs in traditionally low‐tech sectors develop competitive advantage on international markets. The study presents an entrepreneurial perspective to the dynamic capabilities theory of the firm and presents a conceptual research framework to further understanding on INVs.
