IDEAS home Printed from https://ideas.repec.org/a/ovi/oviste/vxixy2019i1p25-32.html
   My bibliography  Save this article

Internationalization of Companies – Stages and Challenges in the Global Business Environment

Author

Listed:
  • Mihaela-Sorina Dumitrescu

    (Bucharest University of Economic Studies)

  • Dorel Paraschiv

    (Bucharest University of Economic Studies)

  • Maria NiÈ›u

    (Bucharest University of Economic Studies)

Abstract

For exponentially increasing managerial value, the third millennium has highlighted a multitude of practices, including cost optimization, outsourcing or business internationalization – a goal which has become the focus of an increasing number of firms. Due to innovative technologies, businesses and economy become global easily. The dynamic environment of business area is full of opportunities which the entrepreneur has to identify for a successful internationalization. But, undoubtedly, when a firm decides to internationalize its activity, it will have to elaborate a strategy in order to face countless challenges forsucceeding in the global market. Moreover, this strategy should include well-planed stages which the company should pass, based on key factors like innovation and agility. The main goal of this research is to expose the challenges faced by brand companies which adopt the process of internationalization and to present solutions for overcoming these challenges.

Suggested Citation

  • Mihaela-Sorina Dumitrescu & Dorel Paraschiv & Maria NiÈ›u, 2019. "Internationalization of Companies – Stages and Challenges in the Global Business Environment," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 25-32, August.
    • Handle: RePEc:ovi:oviste:v:xix:y:2019:i:1:p:25-32
    as

    Download full text from publisher

    File URL: http://stec.univ-ovidius.ro/html/anale/RO/wp-content/uploads/2019/08/4.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Gary A Knight & S Tamar Cavusgil, 2004. "Innovation, organizational capabilities, and the born-global firm," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 35(2), pages 124-141, March.
    2. Gary A Knight & S Tamer Cavusgil, 2004. "Innovation, organizational capabilities, and the born-global firm," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 35(4), pages 334-334, July.
    3. Jones, Marian V., 2001. "First steps in internationalisation: Concepts and evidence from a sample of small high-technology firms," Journal of International Management, Elsevier, vol. 7(3), pages 191-210.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mara Del Baldo & Selena Aureli, 2012. "Networks’ Contribution To Small-Sized Firms’internationalization," The International Journal of Economic Behavior - IJEB, Faculty of Business and Administration, University of Bucharest, vol. 2(1), pages 47-66, December.
    2. Love, James H. & Ganotakis, Panagiotis, 2013. "Learning by exporting: Lessons from high-technology SMEs," International Business Review, Elsevier, vol. 22(1), pages 1-17.
    3. Almor, Tamar & Hashai, Niron, 2004. "The competitive advantage and strategic configuration of knowledge-intensive, small- and medium-sized multinationals: a modified resource-based view," Journal of International Management, Elsevier, vol. 10(4), pages 479-500.
    4. Manuel Jose Oyson, 2020. "Compressed internationalisation: New internationalisation behaviour of small New Zealand firms," Journal of International Entrepreneurship, Springer, vol. 18(4), pages 444-472, December.
    5. Waleed Omri & Audrey Becuwe, 2014. "Managerial characteristics and entrepreneurial internationalization: A study of Tunisian SMEs," Journal of International Entrepreneurship, Springer, vol. 12(1), pages 8-42, March.
    6. Bagheri, Mahshid & Mitchelmore, Siwan & Bamiatzi, Vassiliki & Nikolopoulos, Konstantinos, 2019. "Internationalization Orientation in SMEs: The Mediating Role of Technological Innovation," Journal of International Management, Elsevier, vol. 25(1), pages 121-139.
    7. Alison J. Glaister & Yipeng Liu & Sunil Sahadev & Emanuel Gomes, 2014. "Externalizing, Internalizing and Fostering Commitment: The Case of Born-Global Firms in Emerging Economies," Management International Review, Springer, vol. 54(4), pages 473-496, August.
    8. Jones, Marian V. & Coviello, Nicole & Tang, Yee Kwan, 2011. "International Entrepreneurship research (1989–2009): A domain ontology and thematic analysis," Journal of Business Venturing, Elsevier, vol. 26(6), pages 632-659.
    9. Pia Arenius, 2005. "The Psychic Distance Postulate Revised: From Market Selection to Speed of Market Penetration," Journal of International Entrepreneurship, Springer, vol. 3(2), pages 115-131, June.
    10. Yoruk, Deniz E. & Bunduchi, Raluca & Yoruk, Esin & Crișan-Mitra, Catalina & Salanță, Irina-Iulia & Crișan, Emil Lucian, 2021. "Pathways to innovation in Romanian software SMEs: Exploring the impact of interdependencies between internationalisation and knowledge sources," Journal of International Management, Elsevier, vol. 27(4).
    11. Paul, Justin & Parthasarathy, Sundar & Gupta, Parul, 2017. "Exporting challenges of SMEs: A review and future research agenda," Journal of World Business, Elsevier, vol. 52(3), pages 327-342.
    12. Meschi, Pierre-Xavier & Ricard, Antonin & Tapia Moore, Ernesto, 2017. "Fast and Furious or Slow and Cautious? The Joint Impact of Age at Internationalization, Speed, and Risk Diversity on the Survival of Exporting Firms," Journal of International Management, Elsevier, vol. 23(3), pages 279-291.
    13. Lucian Belascu & Alexandra Horobet & Georgiana Vrinceanu & Consuela Popescu, 2021. "Performance Dissimilarities in European Union Manufacturing: The Effect of Ownership and Technological Intensity," Sustainability, MDPI, vol. 13(18), pages 1-19, September.
    14. Harmancioglu, Nukhet & Grinstein, Amir & Goldman, Arieh, 2010. "Innovation and performance outcomes of market information collection efforts: The role of top management team involvement," International Journal of Research in Marketing, Elsevier, vol. 27(1), pages 33-43.
    15. Gassmann, Oliver & Keupp, Marcus Matthias, 2007. "The competitive advantage of early and rapidly internationalising SMEs in the biotechnology industry: A knowledge-based view," Journal of World Business, Elsevier, vol. 42(3), pages 350-366, September.
    16. Clegg, Jeremy & Lin, Hsin Mei & Voss, Hinrich & Yen, I-Fan & Shih, Yi Tien, 2016. "The OFDI patterns and firm performance of Chinese firms: The moderating effects of multinationality strategy and external factors," International Business Review, Elsevier, vol. 25(4), pages 971-985.
    17. Rui Xue & Gongming Qian & Zhengming Qian & Lee Li, 2021. "Entrepreneurs’ Implicit and Explicit Achievement Motives and Their Early International Commitment," Management International Review, Springer, vol. 61(1), pages 91-121, March.
    18. Izabela Kowalik & Lidia Danik & Petr Král & Hana Řezanková, 2017. "Antecedents of Accelerated Internationalisation of Polish and Czech Small and Medium-Sized Enterprises," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 5(3), pages 31-48.
    19. Musso, Fabio & Francioni, Barbara, 2012. "How Do Smaller Firms Select Foreign Markets?," MPRA Paper 49117, University Library of Munich, Germany, revised 02 Nov 2012.
    20. Głodowska Agnieszka & Pera Bożena & Wach Krzysztof, 2019. "International Strategy as the Facilitator of the Speed, Scope, and Scale of Firms’ Internationalization," Journal of Management and Business Administration. Central Europe, Sciendo, vol. 27(3), pages 55-84, September.

    More about this item

    Keywords

    internalization; globalization; business environment; innovation;
    All these keywords.

    JEL classification:

    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:xix:y:2019:i:1:p:25-32. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gheorghiu Gabriela (email available below). General contact details of provider: https://edirc.repec.org/data/feoviro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.