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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
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    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)

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    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

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