The need for strategic redirection and business model change: The impact of evolving influential forces of change on international entrepreneurship environment

Hamid Etemad
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Abstract

This article examines the rapidly changing environment of international entrepreneurship. The force behind the change is diverse comprising environmental, socio-economic, and technological, including the emergence of intelligent robotics, 3-D printing, the Internet of all things (IOTs), generative artificial intelligence (AI), and the rapid transformation the WWW to WWW.03, amongst other evolving forces, each with profound impact on the iSMEs embedding ecosystems and operating environment. Introduction briefly introduces a selective list of the influential forces and a range of their potential affects, while the “Further development and literature review” section further examines them within their respective contexts of the emerging crises, and their operational, strategic, and theoretical frameworks as the unfolding influential forces evolve with challenging impacts on the internationalized, or internationalizing, SMEs’ (iSMEs’) pool of capabilities and resources with direct effects on their global competitiveness, and growth at home and internationally. The “Discussion” section, in three parts, explores the combined effects of forces of change on the iSMEs’ top management team (TMT) to analyse their strategic posture, the potency of their firm’ resources, and dynamic capabilities, to take potent decisions for leading to potentially non-trivial organizational and strategic change, including fundamental business model innovation (BMI). “Conclusions, implication, and suggestions” further examines the adverse impacts of the recent crises in three parts, ranging from the 2008–2009 global financial crisis (GFC), COVID pandemic, and the unfolding challenges of the climatic change as discussed in the recent COP 28 meetings, and its suggestion for undertaking remedial actions at the corporate, social, and public policy levels. Combined, the necessary change my result in significant architectural and structural change in many common worldwide aspects without sparing anyone, anything, and any location.

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战略调整和商业模式变革的必要性:不断演变的变革力量对国际创业环境的影响
本文探讨了迅速变化的国际创业环境。变化背后的力量是多样化的,包括环境、社会经济和技术,其中包括智能机器人、3D 打印、万物互联(IOT)、生成式人工智能(AI)的出现,以及 WWW 向 WWW.03 的快速转变,以及其他不断发展的力量,每一种力量都对国际中小型企业的嵌入生态系统和运营环境产生深远影响。导言 "部分简要介绍了一系列有选择性的影响力量及其潜在影响,而 "进一步发展和文献综述 "部分则进一步研究了这些力量在各自新出现的危机背景下的作用、战略和理论框架,因为不断发展的影响力量会对国际化或国际化中小型企业(iSMEs)的能力和资源库产生挑战性影响,并直接影响其全球竞争力以及在国内和国际上的发展。讨论 "部分分为三个部分,探讨了变革力量对中小型企业高层管理团队(TMT)的综合影响,以分析他们的战略态势、公司资源的潜力和动态能力,从而做出强有力的决策,促成可能非同小可的组织和战略变革,包括根本性的商业模式创新(BMI)。"结论、影响和建议 "分三部分进一步探讨了近期危机的不利影响,包括 2008-2009 年全球金融危机(GFC)、COVID 大流行病以及近期 COP 28 会议讨论的气候变化带来的挑战,并提出了在企业、社会和公共政策层面采取补救措施的建议。这些必要的变革结合在一起,将在世界范围内的许多共同方面带来重大的建筑和结构变革,而不会放过任何人、任何事和任何地点。
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来源期刊
CiteScore
5.60
自引率
9.10%
发文量
18
期刊介绍: Competition in international markets was traditionally the realm of large companies, with smaller firms tending to remain local or regional. Internationalisation was an expansion option of interest to some enterprises, but seldom was it a competitive necessity. Many opted to avoid the uncertainties of competing in foreign markets, and simply kept their firms small and local. Traditional internationalisation theories, therefore, focused mainly on large multinational corporations, and were less pertinent to smaller firms. With the liberalisation of trade, however, domestic firms are threatened by international competitors that are penetrating formerly protected markets. Nowadays, internationalisation affects everyone, whether or not they wish to internationalise themselves. The threats and opportunities of internationalisation must be addressed. Globalisation is transforming the competitive environment of small and large players alike. As a result, internationalisation issues will continue to be increasingly important to business. Public policy agendas already include programmes to help entrepreneurs become successful at internationalisation. There is a growing need to understand internationalisation in the context of entrepreneurship, as well as large multinationals. Knowledge of how, when and why firms internationalise - either incrementally or not - will surely be the focus of energetic researchers. Yet, up to now, academia has been lacking a journal dedicated to internationalisation issues. To fill this niche, the aforementioned editorial team wishes to offer an outlet for high-quality research addressing the opportunities and challenges intrinsic to internationalisation. The primary audience for this journal will be researchers of entrepreneurship and international business. In addition, readership is certain to include business-people and policy-makers. The editors invite submissions that analyse internationalisation, combining theore tical and empirical work. Researchers will be encouraged to conduct comparative studies, and to evaluate competing theories. The composition of the editorial team - including experts in international business and experts in entrepreneurship - is designed to avoid editorial bias. Every effort will be made to reach a first decision about a submission, within sixty days. Officially cited as: J Int Entrep
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