SUMMARY
The distinguishing characteristic of a business model is the way in which the type of product or service is linked to a particular group of customers using a specific communication and delivery method. The authors argue that the distinctive characteristic of BGs of foreign sales from the outset, or very quickly afterward, may be due to differences in their business models and their ability to adapt them to foreign markets. In contrast to other internationalization theories, the business model approach focuses on the holistic view of the firms core activities in which business model innovation plays a pivotal role to gain competitive advantages. Thus, a business model is a strategic and dynamic value-creation process that is adapted to foreign markets - a main accelerator of the rapid internationalization of BGs.