Business Model Replication for Early and Rapid Internationalisation: The ING Direct Experience

Business model replication is a basis for the early and rapid internationalisation of new ventures. But business models do not emerge ‘fully formed’ – rather they continue to evolve from their initial conception and throughout their repeated application. The earlier and more rapidly internationalisation occurs, the more condensed is the period during which this evolution can – and must – occur if the internationalisation is to be successful. In this article we analyse the processes whereby the business model of a new venture – ING Direct – emerged and evolved as the venture underwent early and rapid internationalisation. We identify the contribution of four processes which we label clarification, localisation, experimentation and co-option. This study contributes to the understanding of the processes underlying both business model evolution and early and rapid internationalisation.