PM003(03)

3. A firm that from its ‘birth’ globalizes rapidly without any preceding long-term internationalization period.
4. A firm that starts international activities early and with significant international shares, but its international activities are only in its home region.
6. Additional market commitments are made in small incremental steps: choosing additional geographic markets with small psychic distances, combined with choosing entry modes with few additional risks.
10. The ‘friction’ between buyer and seller, which is explained by opportunistic behaviour.
13. Self-interest with guile – misleading, distortion, disguise and confusion.
14. Actors are autonomous and linked to each other through relationships, which are flexible and may alter accordingly to rapid changes in the environment. The ‘glue’ that keeps the relationships together is based on technical, economic, legal and, in particular, personal ties.

1. Integration of an external partner into one’s own organization.
2. A firm that previously focused on its domestic markets but that suddenly embraces rapid and dedicated internationalization.
5. The relationships of a firm in a domestic network can be used as bridges to other networks in other countries.
7. The theory that firms go through an exporting phase before switching first to market seeking
8. Transaction cost analysis concludes that, if the ‘friction’ between buyer and seller is higher than through an internal hierarchical system, then the firm should internalize.
9. Doing business through an external partner (importer, agent or distributor).
11. The individual’s perception of difference between two markets, in terms of differences in ‘country’ and ‘people’ characteristics, which disturbs the flow of information, goods and services between the firm and the market.
12. Direct Investment (FDI), and then to cost-oriented FDI.