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
Microtechnology industry is hiring – positive developments of past years continue
09.04.2018 | IVAM Fachverband für Mikrotechnik
RWI/ISL-Container Throughput Index with minor decline on a high overall level
20.03.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung
Researchers at the University of New Hampshire have captured a difficult-to-view singular event involving "magnetic reconnection"--the process by which sparse particles and energy around Earth collide producing a quick but mighty explosion--in the Earth's magnetotail, the magnetic environment that trails behind the planet.
Magnetic reconnection has remained a bit of a mystery to scientists. They know it exists and have documented the effects that the energy explosions can...
Biochips have been developed at TU Wien (Vienna), on which tissue can be produced and examined. This allows supplying the tissue with different substances in a very controlled way.
Cultivating human cells in the Petri dish is not a big challenge today. Producing artificial tissue, however, permeated by fine blood vessels, is a much more...
Faster and secure data communication: This is the goal of a new joint project involving physicists from the University of Würzburg. The German Federal Ministry of Education and Research funds the project with 14.8 million euro.
In our digital world data security and secure communication are becoming more and more important. Quantum communication is a promising approach to achieve...
On Saturday, 10 November 2018, the research icebreaker Polarstern will leave its homeport of Bremerhaven, bound for Cape Town, South Africa.
When choosing materials to make something, trade-offs need to be made between a host of properties, such as thickness, stiffness and weight. Depending on the application in question, finding just the right balance is the difference between success and failure
Now, a team of Penn Engineers has demonstrated a new material they call "nanocardboard," an ultrathin equivalent of corrugated paper cardboard. A square...
09.11.2018 | Event News
06.11.2018 | Event News
23.10.2018 | Event News
16.11.2018 | Health and Medicine
16.11.2018 | Life Sciences
16.11.2018 | Life Sciences