Abstract
A small number of export-capable sectors is a factor that renders the Latvian economy sensitive to any changes in the external environment, at the same time it is an incentive to look for growth patterns. Internationalisation is a factor that brings growth. International operations can have various advantages for enterprises, particularly for high-growing companies. The born global companies will experience stronger performance in markets that are more attractive and more internationalised. For this research purposes term ‘born global’ author understands as a ‘truly global’ company as well as domestically based company with overseas operations. The novelty of the research manifests as seeking of novel information and novel solutions based on the experience of different countries. Born global companies are the research object of an investigation. The aim of the article is an analysis of external environment perspective that is necessary to predict long-term survival for every company in conjunction with economic dimensions of globalization. The research methodology is based on the overview of literature sources that attempts to describe the key drivers for early internationalization, statistics of high-growth enterprises and survival rates of newly born enterprises, success factors of high-growth enterprises. As the result framework for the future research is created.
Highlights
For this research purposes term ‘born global’ author understands as a ‘truly global’ company as well as domestically based company with overseas operations. This topic was inspired by the fact that the born global companies will experience stronger performance in markets that are more attractive and more internationalised thereby it could be a solution to the situation that the Latvian economy is characterized by a small number of export-capable sectors
The research methodology is based on the overview of literature sources that attempts to describe the key drivers for early internationalization, statistics of high-growth enterprises and survival rates of newly born enterprises, success factors of high-growth enterprises
The aim of the article is an analysis of external environment perspective that is necessary to predict long-term survival for every company in conjunction with economic dimensions of globalisation
Summary
The Latvian economy is characterized by a small number of export-capable sectors. This renders the Latvian economy sensitive to any changes in the external environment, does not provide the necessary stability and sustainability, and prevents the maximum potential of the national economy from being reached. Experts acknowledge that the improvement of people’s well-being can be ensured by raising capital investment in export-capable manufacturing and service sectors (NDP, 2014–2020). How does this situation correspond to the era of modern globalization, it needs to be investigated. An analysis of external environment perspective of country is necessary to predict long-term survival of the business companies in conjunction with economic dimensions of globalization. The case studies of external business environment perspective in Estonia, Netherlands, Sweden – counties with high survival rates of new enterprises are used to answer why the survival rates of companies are different in different countries
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