Resource Dependence Reduction Strategies for International New Ventures

Abstract

This study centers around the following research questions: Which partnership strategies do new ventures prefer in their internationalization processes? On which resources do they reduce their dependency through these strategies? With an attempt to answer these questions, face-to-face interviews are conducted with the founding partners of five international new ventures headquartered in Istanbul, Turkey. It was concluded that new ventures reduce their dependencies on critical resources by means of sales partnership agreements and R&D agreements they make in global markets. Through sales partnerships, they reduce their dependencies on human resources, financial resources and network. Through R&D partnerships, they reduce their dependencies on technological knowledge, financial resources and network.