More rapid internationalisation: it is no longer the case that a company must establish itself in its home market before venturing overseas, and then only through tentative steps in neighbouring countries.
A number of new small and medium-sized Norwegian companies have been successful internationally right from the start and have quickly gone global. Some of these, such as Opera Software, IRTech, Colormatic and Optoflow, even started life as global organisations.
In her doctoral project for BI, Siv Marina Flø Karlsen studied the internationalisation processes of selected small and medium-sized companies. She was particularly interested in learning why some companies quickly succeed in becoming international.
Twelve export winners
Flø Karlsen interviewed the key personnel (founders or others who were with the company from the start) from twelve selected companies which achieved early success in the international and global arenas, measured as proportion of exports and the number of continents where they operate.
“Some of the companies simply had no choice. Their products are designed for a global market, so they have to look beyond this country’s boundaries at an early stage in the company’s development,” declares Flø Karlsen, citing the Norwegian company IRTech as an example.
IRTech has developed niche products for the steel industry, a global industry which has no home market. As she explains, “All the clients are large international companies”.
Fast track to global success
Siv Marina Flø Karlsen was eager to identify the common characteristics of companies which achieved global success at an early stage. Here is the blueprint for high-speed internationalisation:
1) The company’s products are unique, ingenious and innovative. They are also revolutionary and offer new ways of doing things.
2) The company’s founder or others with a major role have wide experience and extensive contact networks from previous work in similar industries.
3) The company has strong relationships with key personnel from large, successful organisations.
4) The company has good relationships with influential figures in the industry who can provide support and insight in any areas where it lacks expertise (e.g. research institutions).
5) All the personnel are very involved in the company and eager for it to succeed.
Siv Marina Flø Karlsen conducted the work for her doctoral thesis at the Department of Marketing, BI Norwegian School of Management
Audun Farbrot | alfa
Mathematical confirmation: Rewiring financial networks reduces systemic risk
22.06.2017 | International Institute for Applied Systems Analysis (IIASA)
Frugal Innovations: when less is more
19.04.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO
Whether you call it effervescent, fizzy, or sparkling, carbonated water is making a comeback as a beverage. Aside from quenching thirst, researchers at the University of Illinois at Urbana-Champaign have discovered a new use for these "bubbly" concoctions that will have major impact on the manufacturer of the world's thinnest, flattest, and one most useful materials -- graphene.
As graphene's popularity grows as an advanced "wonder" material, the speed and quality at which it can be manufactured will be paramount. With that in mind,...
Physicists at the University of Bonn have managed to create optical hollows and more complex patterns into which the light of a Bose-Einstein condensate flows. The creation of such highly low-loss structures for light is a prerequisite for complex light circuits, such as for quantum information processing for a new generation of computers. The researchers are now presenting their results in the journal Nature Photonics.
Light particles (photons) occur as tiny, indivisible portions. Many thousands of these light portions can be merged to form a single super-photon if they are...
For the first time, scientists have shown that circular RNA is linked to brain function. When a RNA molecule called Cdr1as was deleted from the genome of mice, the animals had problems filtering out unnecessary information – like patients suffering from neuropsychiatric disorders.
While hundreds of circular RNAs (circRNAs) are abundant in mammalian brains, one big question has remained unanswered: What are they actually good for? In the...
An experimental small satellite has successfully collected and delivered data on a key measurement for predicting changes in Earth's climate.
The Radiometer Assessment using Vertically Aligned Nanotubes (RAVAN) CubeSat was launched into low-Earth orbit on Nov. 11, 2016, in order to test new...
A study led by scientists of the Max Planck Institute for the Structure and Dynamics of Matter (MPSD) at the Center for Free-Electron Laser Science in Hamburg presents evidence of the coexistence of superconductivity and “charge-density-waves” in compounds of the poorly-studied family of bismuthates. This observation opens up new perspectives for a deeper understanding of the phenomenon of high-temperature superconductivity, a topic which is at the core of condensed matter research since more than 30 years. The paper by Nicoletti et al has been published in the PNAS.
Since the beginning of the 20th century, superconductivity had been observed in some metals at temperatures only a few degrees above the absolute zero (minus...
16.08.2017 | Event News
04.08.2017 | Event News
26.07.2017 | Event News
18.08.2017 | Life Sciences
18.08.2017 | Physics and Astronomy
18.08.2017 | Materials Sciences