Internationalizing Firms | springerprofessional.de

Springer Professional

nach oben

2019 | Buch

Kapitel lesen Erstes Kapitel lesen

Internationalizing Firms

International Strategy, Trends and Challenges

verfasst von: Adriana Calvelli, Chiara Cannavale

Verlag: Springer International Publishing

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

Einloggen, um Zugang zu erhalten

Über dieses Buch

This book explores emerging trends in internationalization, analyzing the processes and steps that firms take when entering new markets. This timely contribution highlights the need for a deeper understanding of today’s internationalization process, critiquing existing literature and instead proposing a new paradigm based on a re-interpretation of the Resource-based View (RBV). Analysing the motives behind internationalizing, the factors affecting entry choices, and the challenges connected to outsourcing and offshoring, the authors present a new framework for understanding the reasons behind internationalization and the financial risks that are involved. With theoretical discussion and empirical case studies, this book seeks to offer an informed insight into internationalizing, making it an invaluable read for those researching entrepreneurship on a global scale, as well as managers and leaders of international firms.

Anzeige

Inhaltsverzeichnis

Frontmatter

1. Determinants of Internationalization

Abstract

Nowadays the new trends firms follow in their internationalization process pose some limits to the application of the traditional International Business (IB) theories, and this chapter proposes a new theoretical framework based on the reinterpretation of the resource-based view. The necessity of a new framework derives from the limitation which makes traditional theories unable to interpret firms’ internationalization nowadays. It starts from a critical and constructive review of the main theories on the topic and proposes a model, which highlights and discusses four main determinants of internationalization: knowledge exploration, international leadership, protection of resources, and resource seeking.

Adriana Calvelli, Chiara Cannavale

2. International Strategy

Abstract

This chapter explores the different strategic paths that international firms can follow when they enter host markets. Strategy is meant as the result of the external and internal analysis, and through the empirical evidences, we highlight the challenges and new trends connected to the different paths: expansion, diversification, downsizing, and re-focusing. To be competitive, firms need to find the right balance between standardization and adaptation, which is connected also to the kind of coordination international firms develop to guarantee the survival of the system they build cross-countries.

Adriana Calvelli, Chiara Cannavale

3. Market Entry Strategy

Abstract

The choice of the entry mode is a key step of the formulation of an international strategy. Firms need to find the right approach to the host market, and to take decisions, which are coherent both with opportunities and risks of the external environment, and with the resources they can exploit. The chapter shows the main entry modes firms can choose, and discusses the challenges connected to their implementation, in order to highlight the main factors firms should consider in their decision. We distinguish between competitive and cooperative entry modes, and through the consideration of different empirical evidence, we put some light on the differences between large and small firms, and on the choices of modes which are more appropriate for them.

Adriana Calvelli, Chiara Cannavale

4. Outsourcing and Reshoring

Abstract

Outsourcing activities to international third parties is a way to implement international development strategies. More specifically, it is a way to implement internationalization strategies for expansion when outsourcing is done in markets culturally close to the domestic ones, and for diversification when outsourcing is carried out on markets distant from the domestic ones. However, outsourcing is not always a first best choice, and more and more firms are revising their strategies and deciding for back- or re-shoring. This chapter discusses the factors firms should take into account in their outsourcing decision, and highlights the main risks connected to this choice.

Adriana Calvelli, Chiara Cannavale

5. Key Risks of Internationalization

Abstract

During their internationalization processes, firms face different kind of risks, and the capability to reduce their effects and to find out the best hedging techniques is a fundamental factor of strategic success. Firms need to become aware of the different nature of risks, in order to handle with them, and try to reduce their potential effects on profitability. We consider both counterpart, and financial risks, and give some insights into the basic hedging techniques firms can use. The focus is on the firms, so we don’t refer to intermediaries and financial institution, but keep attention on firms’ hedging. Together with the risks, we consider the financial management of international firms and refer to reinvoicing centres as a possibility to manage the global activities with high efficiency.

Adriana Calvelli, Chiara Cannavale

6. The Role of Culture in Internationalization

Abstract

While internationalizing, firms face a high level of uncertainty, connected to the a lack of knowledge of the foreign market, and to the “soft factors,” which can reduce profitability and create a situation of disadvantage with regard to local or already embedded competitors. The chapter offers a key to understand the importance of market and cultural knowledge, and it explains why firms should the necessity to have culturally competent managers in order to lead international teams, and to adapt products and processes, as well as managerial practices to different markets. The content is based on a post-modern explorative approach aimed at interpreting the knowledge of local culture and values as a key to understand distant markets.

Adriana Calvelli, Chiara Cannavale

Backmatter

Titel: Internationalizing Firms
verfasst von: Adriana Calvelli
Chiara Cannavale
Copyright-Jahr: 2019
Verlag: Springer International Publishing
Electronic ISBN: 978-3-319-91551-7
Print ISBN: 978-3-319-91550-0
DOI: https://doi.org/10.1007/978-3-319-91551-7

Weitere Formate
Fachgebiete
Bücher
Zeitschriften
Themenseiten
Jetzt Einzelzugang starten
Zugang für Unternehmen
Referenzkunden
SLX-Digitalkonferenz: Zukunftswerkstatt 2024