Abstract
Firms operating across borders have to take numerous strategic decisions. The following contribution will provide an overview of the essential strategic decisions that compose strategies of internationalization. The five central dimensions of internationalization strategies are (1) market entry strategies, (2) target market strategies, (3) timing strategies, (4) allocation strategies and (5) coordination strategies. It is further argued that the potential of foreign units abroad should be exploited to create and utilize sustained competitive advantages. However, before formulating internationalization strategies, extensive strategic analyses have to be undertaken, and the firm’s internationalization philosophy and internationalization objectives should be carefully considered.
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Notes
- 1.
- 2.
- 3.
See, for instance, Kutschker and Schmid (2011, pp. 379–487).
- 4.
- 5.
See, for more details, Kutschker and Schmid (2011, pp. 823–1078).
- 6.
- 7.
- 8.
See Schmid and Machulik (2006).
- 9.
See Heenan and Perlmutter (1979, pp. 18–19).
- 10.
- 11.
See also Ghoshal (1987).
- 12.
See Schmid and Grosche (2008, pp. 104–127).
- 13.
See Schmid and Kutschker (2002) for an overview of these basic reflections on Strategic Management.
- 14.
- 15.
For a more detailed discussion, see also Schmid (2011).
- 16.
- 17.
See also Cuervo-Cazurra et al. (2007, pp. 712–714).
- 18.
- 19.
- 20.
See, e.g., Sachse (2003, pp. 166–168).
- 21.
For strategy in general and for various strategy levels, see Bamberger and Wrona (2013), Bea and Haas (2016), Collis and Montgomery (2005), De Wit and Meyer (2010), Hungenberg (2014), Ireland et al. (2017), Johnson et al. (2017), Lampel et al. (2014), Müller-Stewens and Lechner (2016) and Welge et al. (2017).
- 22.
See Lucks and Meckl (2015).
- 23.
- 24.
- 25.
- 26.
- 27.
- 28.
- 29.
- 30.
- 31.
- 32.
See, e.g., Müller and Kornmeier (2002, pp. 142–212).
- 33.
As a “classic” source, see Levitt (1983).
- 34.
For details, see Kutschker and Schmid (2011, pp. 1015–1065).
- 35.
- 36.
See Schmid (1996).
- 37.
- 38.
- 39.
- 40.
See Schmid and Schurig (2003).
- 41.
- 42.
See Schmid et al. (2002) regarding flows within corporate networks.
- 43.
See von Krogh and Cusumano (2001).
- 44.
See Schmid and Schmidt-Buchholz (2002).
- 45.
See Knorr and Arndt (2003).
- 46.
See Eckert (2003).
- 47.
See Benito and Welch (1997).
- 48.
For the problem of performance, see Kutschker and Schmid (2011, pp. 283–285), and for the relationship between internationalization and performance, see Glaum (1996). IB literature on the internationalization-performance link is abundant, but also highly problematic. See, for instance, Hennart (2011), Nguyen (2016) and Verbeke and Forootan (2012).
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Schmid, S. (2018). Strategies of Internationalization: An Overview. In: Schmid, S. (eds) Internationalization of Business. MIR Series in International Business. Springer, Cham. https://doi.org/10.1007/978-3-319-74089-8_1
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