Smes and export performance

Large corporations have not been the only actors of multinational and global growth in recent decades. Small and medium-sized firms have demonstrated not only their capability of being convincing interpreters of internationalization processes, but they have also evidenced a variety in approaches to international markets. As a consequence, the theories that used to consider the internationalization of SMEs in a framework of homogeneity of behaviors and growth path, have to be revisited to take into account variety of strategic and organizational approaches as well as variety in international growth paths. Moreover, the key question arising is whether the concept itself of size has to be revisited in the light of the parallel de-structuring of large corporations and innovative market seizing and growing organizational complexity of small firms. The paper assumptions have been tested on a sample of Italian SMEs: the research reveals that nor size neither age of the firms are correlated to export performance. The latter seems to depend primarily on the product/market segment strategy, the main variable capable of defining the different clusters emerging in international SMEs.

Internationalization and Performance: findings from a set of Italian SMEs

The relationship between Internationalization and performance is a challenging topic for the agenda of researchers across the world, due to the complexity of the variables involved, to the difficulties in construct building and, last but not least, to the controversial results arising from the different studies that have been conducted on the matter in recent decades. This is particularly true in the case of SMEs, which represent a field still to be explored from this point view. The fundamental hypothesis that has driven the present work is that the growing level of market integration has generated a framework of international competition for economic actors which has to be considered as the actual natural environment both for international and for domestic firms. As a consequence, being international is no more than a natural status for the enterprise, in the sense that firms which have not engaged yet in international markets are also part of a competitive international environment that influences strategic decisions and contributes to shaping business models and performances accordingly. This concept applies immediately to those regions where the integration process has gone further and deeper, for example the European Union area, where the domestic market for economic actors has gradually evolved from the former national base to a European one. The empirical study, based on 220 Italian firms, performance - measured by profitability ratios - is not determined by the degree of internationalization in terms of classical export intensity and number of international agreements, but depends mainly on the ability of firms to gain access to specific markets such as the American one. Moreover, SMEs which have grown in foreign markets through FDI show a lower profitability, showing the existence of a "liability of foreignness" effect at the beginning of their international growth. Howeverthis negative effect can be reduced when SMEs have already developed international competences and knowledge through an intense export activity.SMEs, internationalization, exporting, foreign direct investment

Uncertainty in Entrepreneurship and Management Studies: A Systematic Literature Review

Despite the crucial role of uncertainty in entrepreneurship and management studies, the characteristics of uncertainty, its relationship with risk, and the sources of uncertainty affecting firms’ activities still require investigation. Extant literature lacks systematization, and concepts like risk and uncertainty are interchangeably used. The issue of uncertainty is present in very different fields of research but with different nuances and sometimes conflicting approaches. This work contextualises the concept of uncertainty in strategic management and entrepreneurship, because in both fields actors make decisions impacting on the survival and long run performance of their organisations. These decisions take place in a context shrouded in either high risk or uncertainty. We systematically analyse 96 papers and 28 books, and purposely integrate the economics, entrepreneurship, and organizational perspectives into our review. We contribute to extant knowledge by systematizing the literature about uncertainty. Firstly, we disentangle its construct from the construct of risk. Secondly, we reveal its complex nature, as a context at the interface between the external and the internal environment. Finally, we link this conceptualisation of uncertainty to the formation of opportunities in the processes of strategic management and entrepreneurship

Industry 4.0, global value chains and international business

Purpose: The paper aims to provide an assessment of how the widespread adoption of new digital technologies (i.e. the internet of things, big data and analytics, robotic systems, and additive manufacturing) might affect the location and organisation of activities within global value chains (GVCs). Approach: The approach in this paper is to review various sources about the potential adoption and impact of the new digital technologies (commonly known collectively as Industry 4.0), to contrast these technologies with existing technologies, and to consider how the new technologies might lead to new configurations involving suppliers, firms and customers. Findings: We report that the new digital technologies have considerable potential to disrupt how and where activities are located and organized within GVCs), and who captures the value-added within those chains. We also report that Industry 4.0 is still in its infancy, but that its effects are already having an impact upon the nature of competition and corporate strategies in many industries. Implications: In particular, we draw attention to the potential cyber-risks and implications for the privacy of individuals, and hence the need for regulation. Originality/value: This is the first published paper to consider the likely separate and joint impacts of the new digital technologies on the practice and theory of international business

Universities and territorial development

This contribution aims at highlighting some key issues of the evolutionary process of universities, underlining in particular their role in promoting economic development and local communities. The recent shift in paradigm from the ivory tower to the entrepreneurial university has been dramatic and raises both consensus and criticism. This research proposes that this evolutionary process does not entail the emergence of one model of university, on the contrary, it entails the emergence of differentiated models. These possible models can be outlined along the two strategic dimensions of geographic orientation (local, global, glocal) and core activity (teaching, research, both). The glocal university addresses contemporarily the needs and opportunities provided by the local environment together with those deriving from the global one. They develop a two tier system of ties, both local and global, thus enhancing the exposure of the local society and economy to the influence of external knowledge. This contribution proposes a model where a more complex role of universities is highlighted and the “entrepreneurial and technological” paradigm — as suggested by the triple helix model — is complemented by a more comprehensive role, which portraits universities as catalyser of local development also in human and social sciences. Moreover, universities characterise — in some cases distinctively — the urban environment and landscape, thus activating tourists flows, generate a local “culture” not only in terms of goods but also of events and activities, of people and buzz and contribute to connect the local system to the global ones.Udostępnienie publikacji Wydawnictwa Uniwersytetu Łódzkiego finansowane w ramach projektu „Doskonałość naukowa kluczem do doskonałości kształcenia”. Projekt realizowany jest ze środków Europejskiego Funduszu Społecznego w ramach Programu Operacyjnego Wiedza Edukacja Rozwój; nr umowy: POWER.03.05.00-00-Z092/17-00

Theoretical Foundations of International Entrepreneurship: Strategic Management Studies

Entrepreneurial firms are considered as enterprises led by the entrepreneur-founder or managed by corporate entrepreneurs who have recognized and successfully exploited a business opportunity, assuming risk-taking, innovative, and proactive decisions. This strategy is pursued by means of the entrepreneurial process whereby opportunities, unique resources, and organizational assets are combined and converged to support each other

International Entrepreneurship: From Parent Disciplines to Developing Its Way

International entrepreneurship emerged relatively recently in the literature scenery, leveraging a set of parent disciplines. After almost 30 years, this field is still growing and achieving increasing autonomy from its parent streams of research. In this final chapter, we intend to outline the major traits of this discipline, particularly in the perspective of international entrepreneurial organizations. In doing this, we do not neglect neither overlook the role of the key decision makers, i.e., the entrepreneur(s). We acknowledge that among the building blocks of international entrepreneurship there are – first and foremost – people like entrepreneurs, who explore and exploit opportunities by means of organizations. We also acknowledge – and emphasize – that decision making in entrepreneurial firms happens in conditions of uncertainty. Finally, we discuss international entrepreneurship as a process in time, which is not confined solely at the start of a firm, neither at only one typology of organization. It spans over time over the life of firms and encompasses different organizations. If entrepreneurship extends its domain, we need to point out which are its distinctive features. We frame this discussion around some key topics: the context of entrepreneurial decisions (uncertainty); the decision makers; the international entrepreneurial organization: its relationship with time and space; the international entrepreneurial organization: learning, capabilities, exploration and exploitation of opportunities and its dynamics over time