Abstract
The purpose of this research is to make known the internal factors that stimulate the internationalization of companies in the jewelery sector. We consider the qualitative approach at the descriptive level through semi-structured interviews with twelve major exporting companies in the jewelery sector in Peru. The results of the investigation show that the most relevant internal factors for the internationalization of jewelry companies is the international experience based on the understanding of markets, foreign clients, competition, knowledge of the documents and certificates necessary for an export, international commercial relations and risks in the negotiations; Another relevant internal factor is the personalization of the product with characteristics of innovation that generates better export results and, therefore, have a competitive position, since in the international market customers consider that companies have a product with added value, innovative and competitive. Moderately relevant factors are transaction costs, firm size, and the tacit nature of know-how; while opportunistic behaviuor is of little relevance. These findings will serve to understand opportunities and limitations that companies must be aware of to undertake new internationalization projects in the jewelery sector.
Highlights
Internationalization occurs when a company expands its research and development (R&D), production, sales, and other commercial activities in international markets (Hollensen, 2014)
Based on the described literary review and interviews with the main foreign trade managers of the Peruvian exporting companies in the jewelery sector, this qualitative research was carried out that will serve as a benchmark, support and theoretical background, so that companies interested in the internationalization of Its products can identify the internal determining factors that lead to success in the international market and boost the export of the jewelery sector, since it generates a competitive advantage for any company and country
This section compiles the main findings acquired from the execution of the in-depth interviews, where interviews were conducted with twelve Foreign Trade managers of the various Peruvian exporting companies in the jewelery sector, these are in an age range (30–45 years old), who have more than ten years of experience in foreign trade, as well as various specializations in International Business
Summary
Internationalization occurs when a company expands its research and development (R&D), production, sales, and other commercial activities in international markets (Hollensen, 2014) In large companies, it can occur in a relatively continuous way, undertaking several stages in several foreign expansion projects simultaneously, over a period of time. The internationalization of small and medium-sized companies is often a relatively discreet process; that is, a management in stages prior to its expansion (Hollensen, 2014) In order for these companies to successfully internationalize, they must prioritize several factors that influence the internationalization and growth of companies in their market competition (Nakos & Brouthers, 2002), so that companies can export goods or services, directly or through an intermediary (Love & Roper, 2015). Small, medium and large Peruvian companies in the jewelery sector will be made aware of the internal determining factors of internationalization that drive direct export without intermediaries to achieve a competitive advantage in an international market
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