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Small Firm Internationalisation and International Entrepreneurship

  • Entrepreneurship, innovation and internationalisation are substantially interrelated. In an increasingly competitive world economy these are getting more importance. In 2000 at its Lizbon meeting, the European Council set the objective of making the European Union “the most competitive and dynamic knowledge-based economy in the world”. Entrepreneurship, innovation and internationalisation are essential ingredients of achieving such objectives as they are now three of the most important factors for growth and job creation in open market economies. SMEs are also very important in many countries (as well as in Germany where they play a critical role in forming a middle class society so called Mittelstand that is also the backbone of the German economy). On the other hand, it seems that SMEs in general (and also many German SMEs are reluctant to invest in foreign countries though export orientation historically has been the case). There may me various factual and psychological reasons behind this approach. However, increasing economic integration among nations forces companies to be involved in international business much more than earlier. In this line, foreign direct investment (FDI) has also become as 2 important as export business. In fact, FDI is currently has a pivotal role for international trade flows. At present two third of the world trade volume is under the control of multinational companies. Interestingly, multinational companies are not generally large or big companies as is supposed by many. They are rather smaller companies involved in FDI and other foreign operation modes such as international franchising, contract manufacturing, licencing etc. Together with those internationalisation tendencies SME´s cannot resist against the progressive movement of digitalisation or Industry 4.0. For this reason and because of the fact that many small-sized multinationals are also family owned corporations, it seems that internationalisation is now not an option but a must for nearly all companies; small or big. So far, the internationalisation of SMEs and family-owned small firms and also small multinationals have been studied relatively lesser than the potential. In this respect, the WIBF’s 2st International Business Conference aimed to focus on international entrepreneurship and small firm internationalisation, and also on activities of small multinational companies.

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Author:Emin Akçaoğlu, Rainer Wehner
Subtitle (English):Würzburg International Business Forum International Business Conference 2019 Conference Proceedings
Publisher:FHWS, Faculty for Economics and Business Administration
Place of publication:Würzburg
Editor:Emin Akcaoglu, Rainer Wehner
Document Type:Conference Proceeding
Year of publication:2019
Publishing Institution:Hochschule für Angewandte Wissenschaften Würzburg-Schweinfurt
Release Date:2019/08/07
Tag:Entrepreneurship; Globalisation; Internationalisation; Political Risk; Risk Management; SME; Small Firm Internationalisation
Institutes and faculty:Fakultäten / Fakultät Wirtschaftswissenschaften
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 338 Produktion
Regensburger Klassifikation:Wirtschaftswissenschaften
Licence (German):License LogoCreative Commons - CC BY-NC-ND - Namensnennung - Nicht kommerziell - Keine Bearbeitungen 4.0 International
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