The Role of Social Networks and Global Mindset of Decision Makers in SME Firm Internationalization

Date
2013-01-01
Authors
Jin, Byoungho
Jung, Sojin
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Abstract

A growing number of studies and cases confirmed that international opportunities are captured through their networks overseas (Ellis, 2011). For example, Victoria Secret’s market entry into Kuwait happened through a simple network of an intern being a nephew of a major retail company owner in Kuwait. Social networks facilitate the acquisition of experiential knowledge about international markets; thus, play a particularly important role in selecting and expanding into foreign markets. Along with foreign social networks, global mindset of decision makers, defined as “a manager’s openness to and awareness of cultural diversity and the ability to handle it” (Nummela, Saarenketo, & Puumalainen, 2004, p.54), is also found to be critical in firms’ internationalization.

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