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Internationalization of Small and Medium-Sized Enterprises: Best Practices and the Emerging Concept of Foreign Champion, an Empirical Investigation

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  • Nuno Calheiros-Lobo

    (Research Unit on Governance, Competitiveness and Public Policies (GOVCOPP), Department of Economics, Management, Industrial Engineering and Tourism (DEGEIT), University of Aveiro, 3810-193 Aveiro, Portugal)

  • Ana Palma-Moreira

    (School of Psychology, ISPA—Instituto Universitário, Rua do Jardim do Tabaco 34, 1149-041 Lisboa, Portugal
    APPsyCI—Applied Psychology Research Center Capabilities & Inclusion, ISPA—Instituto Universitário, R. do Jardim do Tabaco 34, 1149-041 Lisbon, Portugal
    Faculdade de Ciências e Tecnologia, Universidade Europeia, Quinta do Bom Nome, Estr. da Correia 53, 1500-210 Lisboa, Portugal)

  • Manuel Au-Yong-Oliveira

    (Research Unit on Governance, Competitiveness and Public Policies (GOVCOPP), Department of Economics, Management, Industrial Engineering and Tourism (DEGEIT), University of Aveiro, 3810-193 Aveiro, Portugal
    Institute for Systems and Computer Engineering, Technology and Science (INESC TEC), 4200-465 Porto, Portugal)

  • José Vasconcelos Ferreira

    (Research Unit on Governance, Competitiveness and Public Policies (GOVCOPP), Department of Economics, Management, Industrial Engineering and Tourism (DEGEIT), University of Aveiro, 3810-193 Aveiro, Portugal)

Abstract

This article introduces a new theoretical concept, the “foreign champion”, which attempts to solve the principal–agent problem and improve academic understanding of foreign market entry decisions by analyzing what experts in the field consider to be best practices. Based on empirical research into the determinants of SME internationalization success, semi-structured interviews (n = 12, t = 5 h 10 min.) were conducted with industry experts, including one academic, government officials, chamber and association leaders, a venture capitalist, and several CEOs, and key testimonies were studied using qualitative analysis software. The results shed light on effective internationalization strategies and common market entry mistakes. Despite the perception of saturation, the prominence of the experts, and the large sample, there may be limitations, such as not covering several regions. The originality of this study lies in its conceptual framework, the insights gained from the select interviews, and a new concept of foreign market entry.

Suggested Citation

  • Nuno Calheiros-Lobo & Ana Palma-Moreira & Manuel Au-Yong-Oliveira & José Vasconcelos Ferreira, 2024. "Internationalization of Small and Medium-Sized Enterprises: Best Practices and the Emerging Concept of Foreign Champion, an Empirical Investigation," Administrative Sciences, MDPI, vol. 14(8), pages 1-19, July.
    • Handle: RePEc:gam:jadmsc:v:14:y:2024:i:8:p:159-:d:1440827
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    References listed on IDEAS

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    2. Editors The, 2007. "From the Editors," Basic Income Studies, De Gruyter, vol. 2(1), pages 1-5, June.
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