The Internationalization Processes of SMEs
This chapter examines the internationalization processes of SMEs. More specifically, it analyzes the concept of internationalization and its evolutionary path according to the main theoretical perspectives. In looking at the main aspects of the internationalization processes of SMEs, the chapter draws on the motivations that drive SMEs in internationalize their activities, the barriers that they face on the international scenario, and the impact of the internationalization process on their performance levels. The chapter continues the scholarly conversation on the pages of the previous parts by investigating the key approaches developed by the main literature to describe the internationalization process of SMEs, such as stage models, network approaches, resource based methods, the international entrepreneurship model, and the parachuting internationalization metaphor. Recognizing the fact that some small firms conduct international activities from an early stage in their development and follow faster internationalization patterns than those suggested by traditional perspectives, the chapter also explores the phenomenon of international new ventures, born globals, and global start ups.