Universal Journal of Management Vol. 8(1), pp. 20 - 28
DOI: 10.13189/ujm.2020.080103
Reprint (PDF) (306Kb)

Catalysts for Rapid Internationalization of SMEs: Born Globals in South Korea

Anura Amarasena ^*
Sol International School, Woosong University, South Korea

ABSTRACT

This research article analyses the present explanations of the phenomenon of born globals, in particular within the context of South Korea with the objective of identifying the characteristics that can affect the rapid internationalization of small and medium-sized enterprises (SMEs). The traditional theories of internationalization have built with the aim of illuminating the internationalization of large multinational enterprises (MNEs). These models explain that doing international business develops progressively over time and firms establish themselves domestically before gradually turning into global markets. However, those traditional theories were unable to clarify the way of acting of companies which include SMEs that leapfrog or rising development of born globals. This has created a requirement for a new interpretation of internationalization. As an export-led country, born globals play an important role in improving South Korea's competitiveness. This review has significant implications which propose that many characteristics can affect the rapid internationalization of SMEs in South Korea even though they are still not precisely clear. Thus the paper highlights that wider empirical research is significant to this country for understanding the specific characteristics that are responsible for the rapid internationalization of their SMEs.

KEYWORDS
Exporting, Born Globals, Global Start-ups, International New Ventures, High Technology Start-ups, International Business (IB), Small and Medium-sized Enterprises [SMEs], South Korea

Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Anura Amarasena , "Catalysts for Rapid Internationalization of SMEs: Born Globals in South Korea," Universal Journal of Management, Vol. 8, No. 1, pp. 20 - 28, 2020. DOI: 10.13189/ujm.2020.080103.

(b). APA Format:
Anura Amarasena (2020). Catalysts for Rapid Internationalization of SMEs: Born Globals in South Korea. Universal Journal of Management, 8(1), 20 - 28. DOI: 10.13189/ujm.2020.080103.