The identification and exploitation of previously unexplored opportunities.
Those who may be founders and owners of new business or managers of existing firms.
A combination of innovative, proactive, and risk-seeking behavior that crosses national borders and is intended to create wealth in organizations.
Start-up companies that attempt to do business abroad from inception.
The sale of products made by firms in their home country to customers in other countries.
Sporadic/ Passive Exporting?
The sale of products prompted by unsolicited inquiries from abroad.
Letter of Credit?
A financial contract that states that the importer's bank will pay a specific sum of money to the exporter upon delivery of the merchandise.
Firm A's agreement to give Firm B's the rights to use A's proprietory technology or trademark. usually done in manufacturing industries.
Firm A's agreement to give Firm B the rights to use Firm A's propritory assets for a royalty fee. usually done in service industries.
Models of internationalization that portray the slow step-by-step process an SME must go through to internationalize business.
A way for SME's to reach overseas customers by exporting through domestic-based export intermediaries.
A firm that performs an important middleman function by linking sellers and buyers overseas that otherwise would not have been connected.