ASA University Review, Vol. 6 No. 2, July–December, 2012 Internationalization Process of Buying Houses in Bangladesh: An Evaluation Mohibul Islam Masum * Abstract The article focuses on the internationalization process of some buying houses based in Bangladesh, and on the strategies and methods they use. The major aim of this research was to gain a better understanding of the process by comparing and analyzing three main internationalization process theories: the Uppsala Model, Network Theory and International Entrepreneurship Theory. An essential part of this study consists of gathering empirical data from twelve buying houses in Bangladesh which have already been internationalized. The findings show the application and usefulness of the three theories to these firms. The findings also indicate that the firms use a combination of variables from all the three theories and some aspects of the much criticized Uppsala Model which are still significant in describing the internationalization process behavior of the selected firms. Keywords: The Uppsala Internationalization Process Model, Network Theory, International Entrepreneurship Theory (IET), Buying House. Introduction Long ago, the academics explained the internationalization process by using a stage model, which follows a step by step process where the firm starts from no international activity and goes on to engage in some international activity and then ends up owning subsidiaries abroad. Such is the case of the Uppsala Model proposed in 1977 by Johanson and Vahlne. Right from the beginning this model has been criticized and after much criticism by scholars and other authors such as Andersen (1993), Johanson and Mattson (1988) introduced a new model known as ‘The Network Approach’, where they explained the importance of relationships with suppliers, customers and market that can stimulate or help a firm to go abroad. While studying the firms’ internationalization process, we find that some of these types of firms are international from inception. McDougall and Oviatt (1994) introduced the concept of International New Ventures (INVs) and Born Globals explained the characteristics of such firms. Later on McDougall and Oviatt (2000) approached internationalization by explaining the role of entrepreneurship in the process with the International Entrepreneurship Theory (IET). * Lecturer, Department of Business Administration, ASA University Bangladesh