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Limits of Internationalization Theories in an Unlimited World - Essay Example

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An essay "Limits of Internationalization Theories in an Unlimited World" claims that depending on country-specific factors and industry-specific factors, firms enter foreign markets using different entry modes such as direct exports, indirect exports, mergers and acquisitions among others…
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Limits of Internationalization Theories in an Unlimited World
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Download file to see previous pages What works in the home country may not work in the host country as people have different attitudes, values and behaviours that influence their buying behaviour. There exist various theories that try to explain why firms seek to internationalise both traditional and behavioural theories. The question that needs to be answered is; do these theories fully explain the patterns of internationalisation especially in today’s global economy? This is the question this essay will be seeking to answer. To answer this question, the essay will be divided into xxx sections. First, the traditional theories will be discussed followed by a discussion of the behavioural or process theories of internationalisation. The next section will analyse how well these theories explain the internationalisation process by drawing from examples of different companies especially small micro enterprises (SMEs) from developing countries. From these examples, we shall observe a deviation from traditional theories due to globalisation and liberalisation. These theories depict a stage or step-by-step incremental process of internationalisation but most companies rapidly internationalise and also defy psychic distance assumptions. Lastly, a brief summary of main points will be given. Sachse (2012, p. 13) differentiates between traditional and behavioural perspectives of internationalisation. He views the traditional perspective as economic in nature while behavioural or process-related theories treat internationalisation as an evolutionary and dynamic process. Traditional theories include Transaction cost, eclectic, foreign direct investment, and real options theory. On the other hand, process theories include Uppsala, born global, relationship network, GAINS approach, and Three-level model and path dependency theory among others. ...Download file to see next pagesRead More
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