Abstract
The road to internationalisation is paved with risk, uncertainty, the possibility of failure, and the Coronavirus Disease-19 (COVID-19) phenomenon. However, the process of internationalisation (IP) theory treats an individual decision-maker as a “black box.” Emotions are largely ignored by international business (IB) researchers. This study offers conceptual thoughts on the role of fear of failure in the process of internationalisation. It argues that managers experience this emotion in making internationalisation decisions for a firm, which is an area of study that requires further understanding. Following the content analysis method in the literature review and a theory-based adaptation approach to complete the conceptualisation, this manuscript joins the scholarly conversations on “connecting the IP model to people” and “emotion and internationalisation.” Focussing on fear of failure as a new perspective, this manuscript contributes to IB literature by suggesting new avenues in understanding decision-making about international activities by embracing psychological insights. It also contributes to IB practitioners by offering implications for understanding one’s emotional state and its effect on decision-making about internationalising ventures.
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