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Printable Handouts
Navigable Slide Index
- Introduction
- Background
- Phases in traditional global strategy development
- Triggers to each stage of internationalization (1)
- Internationalization process and the SME
- Generic strategies of newly formed companies (1)
- Life in a short cycle world
- What is the relevant process path for the SME?
- What happens over time?
- Globalisation of the core components
- The evolution of corporate form (1)
- The evolution of corporate form (2)
- Generic strategies of newly formed companies (2)
- Triggers to each stage of internationalization (2)
- Internationalization as a process
- Further reading
This material is restricted to subscribers.
Topics Covered
- Stages of international development
- International process model
- Born global
- Liability of foreignness
- Goals and tools of internationalization
- Evolution of corporate form
Talk Citation
Devinney, T. (2014, April 6). The internationalization process [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved August 31, 2024, from https://doi.org/10.69645/NBXQ5418.Export Citation (RIS)
Publication History
A selection of talks on Global Business Management
Transcript
Please wait while the transcript is being prepared...
0:00
Welcome to this lecture on the internationalization process.
My name is Timothy Devinney,
a professor of International Business and
the University Leadership Chair in
International Business at Leeds University Business School.
Prior to this, I held a number of positions across the globe,
including at the Australian Graduate School of Management, UCLA,
the University Chicago, and Vanderbilt University.
Fellow of the Academy of international business,
as well as having been the Head
of the International Management Division of the Academy of Management.
I'm currently an editor,
one of the Academy of Management Journals plus a number of other journals.
0:42
What we're going to do today is talk through the internationalization process.
The logic of the internationalization process sort of came into being in the 1970s.
Prior to this, many theories of globalization were driven
by economic models of comparative advantage,
along with different models which would relate
that comparative advantage to specific locational types of advantages.
In the 1970s,
more of a process logic started to come into our thinking.
The question which was really arising was related to the fact that if you
looked at different firms at different points in time from different countries,
they didn't all follow
the same underlying model in terms of the way in which they internationalized.
This was contrary to many of the logic that had
been in vogue up until that point in time.
One of the questions was, well,
why might this arise?
This is where two scholars,
Johanson and Vahlne,
started to discuss what was going on in the internationalization process.
This is a fascinating topic in the sense that what it does is it gets us to
concentrate not on kind of the rational logic of why firms do what it is they do,
particularly with respect to internationalization.
But also the question of why they do things differently and what might drive that.
Johanson and Vahlne focused on a couple of issues.
The first one is that internationalization is a risky process and
managers are risk-averse and therefore, they'll make
different decisions early in the internationalization process,
then they will once they have more experience.
This has been related to the second issue they bring up,
which is the issue of learning.
That is that no firm, no manager,
gets a degree and immediately becomes a multinational.
Therefore, they have to learn how to internationalize.
This is a bit of "learning-by-doing" logic in the sense that
you can't read a book and just learn how to internationalize.
You need to have much more in the sense that what you need to do is
focus on how I learn or my company learns
about these specific circumstances which are related
to the underlying unique advantages that my firm might have.
Therefore, the process can be very different,
even for the same firms in different industries or different firms in the same industry.
As we go through this, you'll see a lot of the issues which will arise
will be related to these issues of learning and evolution and how it is
that the firms which apparently are facing
similar circumstances might make very different choices.