The need for strategic redirection and business model change: The impact of evolving influential forces of change on international entrepreneurship environment
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引用次数: 0
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.
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