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2024/2025 KAN-CCMVI2057U Internationalization of Small and Medium-sized Enterprises
| English Title | |
| Internationalization of Small and Medium-sized Enterprises |
Course information |
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| Language | English |
| Course ECTS | 7.5 ECTS |
| Type | Elective |
| Level | Full Degree Master |
| Duration | Summer |
| Start time of the course | Summer |
| Timetable | Course schedule will be posted at calendar.cbs.dk |
| Min. participants | 30 |
| Max. participants | 60 |
| Study board |
Study Board for cand.merc. and GMA (CM)
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| Course coordinator | |
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| For academic questions related to the course, please contact instructor Anne Sluhan at as.egb@cbs.dk | |
| Main academic disciplines | |
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| Teaching methods | |
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| Last updated on 07/11/2024 | |
Relevant links |
| Learning objectives | ||||||||||||||||||||||||||
Upon completion of the course the student should
be able to demonstrate knowledge and skills as follows. The
student:
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| Course prerequisites | ||||||||||||||||||||||||||
| Completed Social Science Bachelor degree. Knowledge of relevant concepts from management, strategy, finance, and organization. | ||||||||||||||||||||||||||
| Examination | ||||||||||||||||||||||||||
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| Course content, structure and pedagogical approach | ||||||||||||||||||||||||||
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As business grows increasingly international due to the
interaction, exchange, and interdependence amongst nations, firms,
and people around the world, more firms are confronting this
exciting yet challenging dynamic.
Small and medium-sized enterprises (SMEs) are no exception.
SMEs are important players in most economies around the world, and
with the acceleration of globalization processes, a record number
of SMEs have begun to take advantage of new environmental
conditions presenting opportunities for international growth.
SMEs are no longer considered to be miniature versions of
large firms. Indeed, they are now understood to be particular
enterprises with specific characteristics, specifically in the ways
in which they develop strategies for sustainable growth, lead
responsibly, approach investments, contribute to societal
sustainability, and manage human capital.
Globalization both poses dramatic new competitive challenges
and also offers new opportunities which are increasingly important
to the competitiveness of enterprises of all sizes. Success in the
global arena demands mindsets that can develop strategies by
blending skills and experiences of entrepreneurial firms with those
of large international companies.
This course aims to help students make sense of how this
international dynamic impacts SMEs.
We begin by discussing the specific characteristics of small and medium-sized enterprises (SMEs) paying particular attention to their prevalence, significance, and economic contribution to most economies around the globe, followed by an examination of their (dis)advantages. The course outlines various types of SMEs including but not limited to micro-businesses, startups, and family firms. Thereafter, we discuss the ways in which SMEs internationalize, and why. Theories of international business and sustainability will be studied, focusing specifically on SMEs and the ways in which they strategize in an ever more complex interdependent global business environment. Preliminary assignment: The preliminary assignment is
intended to help students get maximum value from ISUP courses. The
lecturer will assign several readings and multimedia resources
which students will be expected to have read and viewed before the
course begins. Students are assigned questions pertaining the
preliminary readings and will be expected to discuss these
questions in the first lecture. This assignment is intended to help
'jump-start' the learning process before the first
lecture.
Class 1: Contextualizing Small and Medium-Sized
Enterprises (SMEs): Definition & significance (+case method
introduction)
Class 2:SME ownership and governance: The impact of owner & board hetero/homogeneity Class 3:Competitive advantage(s) of SMEs & determinants of SME internationalization Feedback activity: Project topic proposal will be submitted by
end of week 1 to allow time for feedback.
Class 4: Strategic management of SMEs Class 5: Theoretical foundations of internationalization and sustainability: history and context Class 6: Classical approaches towards SME internationalization Class 7: The Internationalization processes of SMEs: context
& regional differences
Class 8: Drivers of sustainable international growth: Human capital, social capital, & board influence Class 9: Internationalization strategies for SMEs: the beauty of Born Globals Class 10: 21st Century sustainable leadership: SME competences Class 11: The competitive advantages of international SMEs |
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| Description of the teaching methods | ||||||||||||||||||||||||||
| This course is a mix of classroom meetings and
some content delivered online.
Due to the interactive nature of the case-based method, the majority of the course will occur as face-to-face (classroom) interactions. Some online content will be delivered on demand to frame and supplement class discussions. |
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| Feedback during the teaching period | ||||||||||||||||||||||||||
| Students who submit a problem formulation (max 1
page) by the end of the first week will receive personalized
feedback intended to help the students further develop their
research questions. Initial approval of the project topic will
likely demand further iteration of the research question.
Assessment at this stage is intended to offer a preliminary
assessment of the problem formulation's clarity, relevance, and
likelihood of resulting in a good report.
Home Project Assignments/mini projects are based on a research question (problem formulation) formulated by the students individually. Approval deadline will be defined by the instructor. Hand-in of the problem formulation directly to the instructor by the 3rd teaching week. |
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| Student workload | ||||||||||||||||||||||||||
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| Further Information | ||||||||||||||||||||||||||
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Preliminary Assignment: The course coordinator uploads Preliminary Assignment on Canvas at the end of May. It is expected that students participate as it will be included in the final exam, but the assignment is without independent assessment and grading.
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| Expected literature | ||||||||||||||||||||||||||
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Indicative course readings:
Bartlett, C. A., Nanda, A. (1990). Ingvar Kamprad and Ikea. Case nr. 390-132. Harvard Business School.
Bell, J. & Loane, S. (2010). ‘New-wave’ global firms: Web 2.0 and SME internationalisation. Journal of Marketing Management, 26(3–4), 213–229. https://doi.org/10.1080/02672571003594648
Bowen, H. (1953). Social Responsibility of the Businessman. In New York: Harper and Row.
Cambra-Fierro, J., Hart, S. & Polo-Redondo, Y. (2008). Environmental respect: Ethics or simply business? A study in the Small and Medium Enterprise (SME) context. Journal of Business Ethics, 82(3), 645–656. https://doi.org/10.1007/s10551-007- 9583-1
Carroll, A. B. & Brown, J. A. (2018). Corporate Social
Responsibility: A Review of Current Concepts, Research, and Issues.
In J. . Weber & D. Wasleleski (Eds.), Corporate Social
Responsibility (Issue August, pp. 39–69). Emerald
Publishing
Limited.
https://doi.org/10.1108/S2514-175920180000002002
Coviello, N. E. & McAuley, A. (1999). Internationalisation and the smaller firm: a review of contemporary empirical research. Management International Review, 39(3), 223– 256. https://doi.org/10.2307/40835788
Cresanti, R. (2019). What Small Businesses Know About Corporate
Responsibility. Harvard Business Review, Social
Resposibility.
European Commission. (2021). Corporate social responsibility & Responsible business conduct | Internal Market, Industry, Entrepreneurship and SMEs. European Commission.Com. https://ec.europa.eu/growth/industry/sustainability/corporate-social-responsibility
Hammann, E.-M., Habisch, A. & Pechlaner, H. (2009). Values that create value: socially responsible business practices in SMEs - empirical evidence from German companies. Business Ethics: A European Review, 18(1), 37–51. https://doi.org/10.1111/j.1467-8608.2009.01547.x
Hasan, M. N. (2016). Measuring and understanding the engagement of Bangladeshi SMEs with sustainable and socially responsible business practices: an ISO 26000 perspective. Social Responsibility Journal, 12(3), 584–610. https://doi.org/10.1108/SRJ-08-2015-0125
Herrera Madueño, J., Larrán Jorge, M., Martínez Conesa, I. & Martínez-Martínez, D. (2016). Relationship between corporate social responsibility and competitive performance in Spanish SMEs: Empirical evidence from a stakeholders’ perspective. BRQ Business Research Quarterly, 19(1), 55–72. https://doi.org/10.1016/j.brq.2015.06.002
Hoogendoorn, B., Guerra, D. & van der Zwan, P. (2015). What drives environmental practices of SMEs? Small Business Economics, 44(4), 759–781. https://doi.org/10.1007/s11187-014-9618-9
Jenkins, H. (2004). A Critique of Conventional CSR Theory: An SME Perspective. Journal of General Management, 29(4), 37–57. https://doi.org/10.1177/030630700402900403
Jenkins, H. (2006). Small business champions for corporate social responsibility. Journal of Business Ethics, 67(3), 241–256. https://doi.org/10.1007/s10551-006-9182-6
Jenkins, H. (2009). A ‘business opportunity’ model of corporate social responsibility for small- and medium-sized enterprises. Business Ethics: A European Review, 18(1), 21–36. https://doi.org/10.1111/j.1467-8608.2009.01546.x
Knight, G. A., & Liesch, P. W. (2016). Internationalization:
From incremental to born global. Journal of World Business, 51(1),
93-102.
Löfgren, A. (2014). International network management for the purpose of host market expansion: The mediating effect of co-innovation in the networks of SMEs. Journal of International Entrepreneurship, 12(2), 162–182. https://doi.org/10.1007/s10843- 014-0129-1
López-Pérez, M. E., Melero, I. & Javier Sese, F. (2017). Management for Sustainable Development and Its Impact on Firm Value in the SME Context: Does Size Matter? Business Strategy and the Environment, 26(7), 985–999. https://doi.org/10.1002/bse.1961
López González, J. & Sorescu, S. (2019). Helping SMEs internationalise through trade facilitation. In OECD Trade Policy Papers (Issue 229). https://doi.org/10.1787/2050e6b0-en
Maldonado-Erazo, C. P., Álvarez-García, J., del Río-Rama, M. de la C. & Correa- Quezada, R. (2020). Corporate Social Responsibility and Performance in SMEs: Scientific Coverage. Sustainability, 12(6), 2332. https://doi.org/10.3390/su12062332
Manesh, S. M. Z. E. & Rialp-Criado, A. (2019). International ecopreneurs: The case of eco-entrepreneurial new ventures in the renewable energy industry. Journal of International Entrepreneurship, 17(1), 103–126. https://doi.org/10.1007/s10843- 017-0222-3
Manolopoulos, D., Chatzopoulou, E. & Kottaridi, C. (2018). Resources, home institutional context and SMEs’ exporting: Direct relationships and contingency effects. International Business Review, August 2016. https://doi.org/10.1016/j.ibusrev.2018.02.011
Manolova, T. S., Manev, I. M. & Gyoshev, B. S. (2010). In good company: The role of personal and inter-firm networks for new-venture internationalization in a transition economy. Journal of World Business, 45(3), 257–265. https://doi.org/10.1016/j.jwb.2009.09.004
Martín-Tapia, I., Aragón-Correa, J. A. & Rueda-Manzanares, A. (2010). Environmental strategy and exports in medium, small and micro-enterprises. Journal of World Business, 45(3), 266–275. https://doi.org/10.1016/j.jwb.2009.09.009
Moore, G. & Spence, L. J. (2006). Editorial: Responsibility and Small Business. Journal of Business Ethics, 67(3), 219–226. https://doi.org/10.1007/s10551-006-9180-8
Morsing, M. & Spence, L. J. (2019). Corporate social
responsibility (CSR) communication and small and medium sized
enterprises: The governmentality dilemma of explicit and implicit
CSR communication. Human Relations,
001872671880430.
https://doi.org/10.1177/0018726718804306
Oviatt, B. M. & McDougall, P. P. (2005). Defining
International Entrepreneurship and Modeling the Speed of
Internationalization. Entrepreneurship Theory and
Practice, 29(5),
537–553.
https://doi.org/10.1111/j.1540-6520.2005.00097.x
Perrini, F., Russo, A. & Tencati, A. (2007). CSR Strategies of SMEs and Large Firms. Evidence from Italy. Journal of Business Ethics, 74(3), 285–300. https://doi.org/10.1007/s10551-006-9235-x
Porter, M. & Kramer, M. (2006). Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility. Harvard Business Review, December, 1–378. https://doi.org/10.1007/3-540-33247-2
Russo, A. & Perrini, F. (2010). Investigating stakeholder theory and social capital: CSR in large firms and SMEs. Journal of Business Ethics, 91(2), 207–221. https://doi.org/10.1007/s10551-009-0079-z
Ryan, A., O’Malley, L. & O’Dwyer, M. (2010). Responsible
business practice: re- framing CSR for effective SME
engagement. European J. of International
Management, 4(3),
290. https://doi.org/10.1504/EJIM.2010.033005
Spence, L. J., Schmidpeter, R. & Habisch, A. (2003). Assessing Social Capital: Small and Medium Sized Enterprises in Germany and the U.K. Journal of Business Ethics, 47, 2003 Part 3. https://doi.org/10.1023/A:1026284727037
The World Bank. (2021). Small and Medium Enterprises (SMEs) Finance. https://www.worldbank.org/en/topic/smefinance
Torugsa, N. A., O’Donohue, W. & Hecker, R. (2012). Capabilities, Proactive CSR and Financial Performance in SMEs: Empirical Evidence from an Australian Manufacturing Industry Sector. Journal of Business Ethics, 109(4), 483–500. https://doi.org/10.1007/s10551-011-1141-1
Treviño, L. J. & Doh, J. P. (2020). Internationalization of the firm: A discourse-based view. Journal of International Business Studies, 1–19. https://doi.org/10.1057/s41267-020-00344-8
UNDESA. (2020). Micro-, Small and Medium-sized Enterprises (MSMEs) and their role in achieving the Sustainable Development Goals (SDGs) | Department of Economic and Social Affairs.
Uzhegova, M., Torkkeli, L. & Saarenketo, S. (2019).
Corporate Social Responsibility in SMEs: Implications on
Competitive Performance. Management
Revue, 30(2–3),
232–267.
https://doi.org/10.5771/0935-9915-2019-2/3-232
Wickert, C., Scherer, A. G. & Spence, L. J. (2016). Walking and Talking Corporate Social Responsibility: Implications of Firm Size and Organizational Cost. Journal of Management Studies, 53(7), 1169–1196. https://doi.org/10.1111/joms.12209
Williamson, D., Lynch-Wood, G. & Ramsay, J. (2006). Drivers of environmental behaviour in manufacturing SMEs and the implications for CSR. Journal of Business Ethics, 67(3), 317–330. https://doi.org/10.1007/s10551-006-9187-1
Wright, M.; Westhead, P.; Ucbasaran, D. (2007) Internationalization of Small and Medium-sized Enterprises (SMEs) and International Entrepreneurship: A Critique and Policy Implications. Research Policy, Regional Studies, Vol. 41.7, pp. 1013–1029.
Yoon, J., Kim, K., Dedahanov, A. & Kim, K. K. (2018). The Role of International Entrepreneurial Orientation in Successful Internationalization from the Network Capability Perspective. Sustainability, 10(6), 1709. https://doi.org/10.3390/su10061709
Zacca, R., Dayan, M. & Ahrens, T. (2015). Impact of network capability on small business performance. Management Decision, 53(1), 2–23. https://doi.org/10.1108/MD-11-2013-0587
Zahra, S. A., Newey, L. R. & Li, Y. (2014). On the
Frontiers: The Implications of Social Entrepreneurship for
International Entrepreneurship. Entrepreneurship Theory
and Practice, 38(1),
137–158. https://doi.org/10.1111/etap.12061
Additional relevant readings:
Barney, Jay (1991). Firm resources and sustained competitive
advantage. Journal of Management, 17 (1): 99-120.
Barney, J. (1995). Looking inside for competitive advantage,
in Mintzberg/Lampe/Quinn/Ghoshal (2003): The Strategy Process,
pp. 102-105.
Dabić, M., Maley, J., Dana, L. P., Novak, I., Pellegrini, M.
M., & Caputo, A. (2019). Pathways of SME internationalization:
a bibliometric and systematic review. Small Business Economics,
1-21.
Jensen, M. & Meckling, W (1976): Theory of the firm:
Managerial behavior, agency costs, and ownership structure. Journal
of Financial Economics, 3 (4): 305-360.
Mintzberg, H., & McHugh, A. 1985. Strategy formation in an
adhocracy. Administrative Science Quarterly, 30: 160-197.
Porter, M.E. (1998). Competitive advantage: Creating and
sustaining superior performance.
Wernerfelt, B. (1984). A resource-based view of the firm.
Strategic Management Journal 5: 171-180.
Wernerfelt, B. (1995). The resource-based view of the firm:
Ten years after. Strategic Management Journal 16 (3): 171-174
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