Abstract
This paper attempts to review and extend the Uppsala model by assessing the impact of managerial characteristics on small firms‘ internationalization process. Results from case studies of four British SMEs in Vietnam show that psychic distance has insignificant impact on the decision makers’ choices of markets and market entry strategies. SMEs develop their international strategy in a non-systematic and non-linear way. Managerial characteristics, including their network relationship, international experience, influence the firm’s decision in identifying business opportunities in new markets and market entry strategies.
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