International Market Selection Strategies of Manufacturing and Services Firms

International Market Selection Strategies of Manufacturing and Services Firms

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International Market Selection Strategies of Manufacturing and Services Firms Paul Westhead * , Mike Wright * , Deniz Ucbasaran * and Frank Martin ** * Institute for Enterprise and Innovation, Nottingham University Business School, Jubilee Campus, Wollaton Road, Nottingham, NG8 1BB, UK; e-mail: paul.westhead@nottingham.ac.uk ** Department of Management and Organization, Faculty of Management, University of Stirling, FK9 4LA, Scotland 1
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University of Nottingham Institute for Enterprise and Innovation Investing in Creativity The Institute for Enterprise and Innovation was established in 1999 with funding from the Office of Science and Technology under the auspices of Science Enterprise Challenge. The Institute is committed to undertake research at the highest level into a wide range of subjects in the areas of entrepreneurship, enterprise and innovation. The Institute has strong links with universities in the USA, Europe and the Far East and welcomes opportunities for collaborative research and international benchmarking. For further information on the Institute and its activities go to www.nottingham.ac.uk/enterprise . Director UNIEI Professor Martin Binks 2
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International Market Selection Strategies of Manufacturing and Services Firms Paul Westhead * , Mike Wright * , Deniz Ucbasaran * and Frank Martin ** * Institute for Enterprise and Innovation, Nottingham University Business School, Jubilee Campus, Wollaton Road, Nottingham, NG8 1BB, UK; e-mail: paul.westhead@nottingham.ac.uk ** Department of Management and Organization, Faculty of Management, University of Stirling, FK9 4LA, Scotland The following broad research question is explored in this study: Do manufacturing firms cite the same exporting methods and modes as those cited by firms engaged in construction or service activities? This study, therefore, addresses a major weakness associated with stage models of internationalization (i.e. a focus solely upon manufacturing firms). In 1990/91, survey responses were gathered from 621 independent businesses located in Great Britain. In 1997, a follow-on telephone survey was conducted with 150 surviving firms. This survey gathered information on the propensity to export goods or services abroad and the mode of export behaviour. Implications for researchers, practitioners and policy-makers are highlighted. Keywords : internationalization; exporting firms; entry modes; performance; policy implications 1. Introduction Julien (1996) asserted that about 85% of small firms are operating to some degree with a strategy that can respond to market globalization (i.e. the purchase of goods or services from foreign countries, the sales of goods or services to foreign countries, investments in foreign countries, agreements between enterprises from different countries, etc.). To provide a greater understanding of market globalization processes, he presented the following typology of small firm behaviour and their associated internationalization strategies. First, local (or regional or domestic) firms outside global markets,
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International Market Selection Strategies of Manufacturing and Services Firms

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