Factors Stimulating Internationalisation of Firms: An Attempted Holistic Synthesis

Abstract

Objective : The main goal of this paper is the critical and synthetic analysis of internationalisation process factors, with reference to business management. It presents a systematic review of the most important relational ideas in regard to factors of firm-level internationalisation. Research Design & Methods : The text includes the synthesis of previous academic studies and results of empirical researches on internationalisation factors. Findings: The motives for going international are explained in reference to external and internal factors. Different definitions of understanding external factors of internationalisation of firms are discussed, among them (i) framework factors (market, cost, governmental, competitive and additional factors), (ii) conditioning factors (factor and demand conditions, related and supporting industries, firm strategy, structure and rivalry) as well as (iii) general environment factors (economic environment, demographic environment, political and legal environment, technological, natural and socio-cultural environment). Implications & Recommendations: Internal factors of internationalisation are mostly rooted in the resource-based view. Motives for going international mainly depend on top management team, international resources and firms specifics. Contribution & Value Added: The paper underlines that there are numerous factors, both external and internal, which influence international activities of firms. Despite the fact that the decision to internationalize is focused on specific motives and goals, the role of managers is crucial.