To offer a deeper understanding of how Peruvian firms internationalize this paper aims to throw in an acknowledged theoretical gap in international business research by giving a contribution towards the internationalization of Multilatinas based on a network perspective. The purpose is to investigate what drives Peruvian Multilatina's to internationalize, what market they select, how they enter these markets, and how different network relationships can influence their internationalization. Research question: What does the internationalization process look like for a Peruvian Multilatina? Method: Includes a qualitative research method with the use of semi-structured interviews. A multiple case study was utilized to gain comparative insights into how Peruvian Multilatinas internationalized through their networks relationships. For the analysis, the theoretical framework consisted of: internationalization drivers, market selection, choice entry mode, and importance of networks. Conclusions: The results conclude that Multilatinas do not follow a unique pattern of internationalization, but follow an accelerated expansion strategy based on the context of their political and economic environment. The Multilatinas studied started off by exporting to markets that had similar characteristics to their own. Once they had adequate experience and knowledge of operating there, they followed up with contractual and investment entry modes. The Multilatinas relied on different network relationships in order to internationalize. The most important being the business relationship and institutional relationship in order to gain insidership.

La thèse est composée de trois articles de recherche. Basés sur le même fondement théorique et de modélisation, au travers de simulation numérique, les trois essais étudient différents sujets liés à la dynamique des firmes sous l’impact des contraintes financières et des fluctuations macroéconomiques. Respectivement, le premier article explore le mécanisme de sélection de marché, le deuxième se focalise sur le mode d’investissement en Recherche et Développement (R&D) des firmes, et le troisième analyse les effets d’une politique budgétaire discrétionnaire de relance de l’activité sur la dynamique des firmes. Les résultats de recherche montrent que la combinaison des contraintes financières et des fluctuations macroéconomiques peut exercer des effets significatifs sur la dynamique des firmes dans un contexte de compétition de marché. Sous différents angles d’analyse, ces effets peuvent révéler l’inefficacité du mécanisme de sélection de marché, la distorsion de structure de marché à la défaveur des investissements en R&D, et des retombées inégalitaires d’une éventuelle relance économique en période de récession, au désavantage des jeunes et petites firmes. / The thesis is composed of three research articles. Based on a common theoretical and modeling foundation, by means of computational simulation, these three essays study different subjects relating to firm dynamics under the impact of financial constraints and macroeconomic fluctuations. Respectively, the first article explores functioning of market selection mechanism, the second focuses on firms’ Research and Development (R&D) investment patterns, the third analyzes effects of economic stimulus policies on firm dynamics. The research results demonstrate that the combination of presence of financial constraints and macroeconomic fluctuations may have significant effects on firm dynamics in the context of competitive market. From different angles of analysis, the effects could reveal failure of market selection mechanism, market structure distortion which disfavors firms’ R&D investment, and unequal repercussions of an economic stimulus on firms in recession, especially to the disadvantage of young and small ones.

The need for Swedish SMEs to expand beyond their limited domestic market grows, spurred on by fading barriers to international trade. Often consisting mainly of engineers without marketing experience, the SMEs cannot afford to recruit expertise in internationalisation. The international business environment is complex, and attempting to internationalise through trial and error, often ends poorly. To remedy this, the objectives of this study has been: To explore and compare how Swedish SMEs expand to other markets. To identify which factors in this expansion pose the largest problems                          to Swedish SMEs. To assure that these objectives were fulfilled, two research questions were formulated: RQ1: What is the internationalisation pattern for Swedish SMEs? RQ2: What are the main problems encountered by Swedish SMEs when                                         expanding their market from domestic to international? The study has been exploratory and descriptive, taking a deductive approach. The research strategy has been multiple holistic case studies. Data was collected qualitatively through semi-structured interviews and analysed through within-case analysis and cross-case analysis. The main findings show that SMEs are increasingly strategic and systematic with time, and that advice given by the interviewed subject revolved around being strategic and systematic from an earlier stage. It also seems that SMEs are fairly systematic in market selection and customer acquisition, and that market entry occurs in many different ways. Furthermore, branding revolves around appearing trustworthy and “larger than they actually are.” Strategies for employer branding seems lacking in all but the most mature SMEs. Also, strong strategic partners are a valuable tactic for long-term success. The practical implications revolve around the importance of being systematic and strategic from the start, highlighting the importance of larger strategic partners, and focusing on relationships with customers, and what value the SME can offer them.

Throughout the years, different theories and models have been developed regarding multi-national enterprises' (MNEs') entry into foreign markets. One such model is the Organisational Model, identifying three different types of enterprise, each selecting a different mode of market entry during foreign market expansion. These are: massproduction enterprises, disaggregate-production enterprises and project-based enterprises. This model was based on studies focusing mainly on the US, Europe and Asia. Research indicates, however, that MNEs increasingly identify sub-Saharan Africa (SSA) as a region for possible expansion. In view of persistent risk within the SSA region, this study's focus is on determining which entry modes MNEs use when entering a perceived high-risk market in SSA. This research study focused on MNEs that have expanded or are currently expanding into a perceived high-risk country in SSA. A qualitative research design was selected, applying an in-depth case study analysis to six different MNEs two MNEs representing each type of enterprise as categorised by the Organisational Model. Semi-structured personal interviews were conducted with each participant. Each interview focused on elements relating to the MNE's perception of, and approach to selecting entry mode into, high-risk markets. Findings predominantly did not find support for the Organisational Model, indicating that MNEs entering perceived high-risk markets in SSA preferred different entry mode strategies and approached risk consideration differently. Some findings did confirm the literature, by indicating that MNEs consider country risk when entering a foreign market in SSA. / Dissertation (MCom)--University of Pretoria, 2016. / Business Management / MCom / Unrestricted

This thesis aims to provide a greater understanding of what entry mode Swedish companies choose when entering the African telecom sector. Furthermore, the report will also study the benefits and difficulties with the African telecom sector and include the Swedish company's market selection. The rapidly growing continent of Africa has recently gained interest, and the fast-growing telecommunication sector plays a significant role in further development in the region. Africa, in general, has been understudied, and our thesis aims to clarify uncertainties regarding how companies, both smaller and larger, have entered the market.  The report will have a literature review where traditional entry modes and market selection theories are brought up and current challenges and opportunities in the African telecom sector. These theories have also been showcased in a conceptual framework to view how they interact with each other. Moreover, the methodology chapter will introduce each strategy and then argue why the chosen method is used. This report will conduct an abductive approach with a qualitative research method. The methodology will also introduce the thesis respondents and how the interviews were conducted. Moreover, the empirical data will be divided into three sections; opportunities and difficulties, market selection, and market entry mode, where each respondent tells their experiences within the subjects. Furthermore, the empirical data also includes an interview with a scholar who has previously written about the African telecom market. The analysis is divided into the same sections as in the empirical findings and discussed from the literature review and the professional's point of view. The conclusion reveals that the main opportunities are primarily the underdeveloped market and a large number of people, while the most significant difficulties are corruption and, in many cases, inadequate infrastructure. The findings further include that smaller Swedish companies tend to enter one or few countries within the African telecom sector while larger companies enter more countries simultaneously. Moreover, it also mentions how important the network is and that the entry mode will differ depending on the company's size. Larger companies tend to seek acquisition, while smaller companies are more dependent on exporting and joint ventures.

Bakgrund Intresset för friluftsliv ökar markant inom Sverige. Det finns en enorm efterfrågan på svenska outdoorprodukter som är kända för sin kvalitet, design och funktionalitet -de har ett mycket gott rykte utomlands. Internationalisering blir en allt större del i outdoorföretagens verksamheter. Trots att valet av internationell marknad är ett av de mest centrala beslutenhar det gjorts förhållandevis lite forskning på området. Det är därför av betydelse att genomföra en studie med kvalitativ metodologi som på ett djupare och mer ingående sätt förklarar de svenska outdoorföretagens strategi vid internationella marknadsval. Vilken blir nästa marknad att träda in på och varför? Syfte Syftet med denna studie är att bidra med ökad förståelse för hur svenska outdoorföretag väljer internationella marknader. Metod Denna studie är en kvalitativ flerfallsstudie där sex svenska outdoorföretag har studerats. Vidare har insamlingen av empirin genomförts med hjälp av semistrukturerade intervjuer. Studien vidtar ett hermeneutiskt perspektiv med en abduktiv forskningsansats. Slutsats I slutsatsen kan det konstateras att de svenska outdoorföretagen väljer ny internationell marknad genom olika strategier. Beslutsfattandeprocessen skiljer sig något företagen emellan, en del tenderar att vara med rationella i sina beslut, medan andra företag fattar beslut grundat på intuition. Studien undersöker företagens ställningstagande till det psykiska avståndet, i form av geografiska-, kulturella-, ekonomiska-och institutionella skillnader, där företagen är eniga. Det geografiska och kulturella avståndet har knappt någon betydelse förvalet av marknad medan ekonomiska- och institutionella skillnader kan vara direkt avgörande. De centrala egenskaper som har identifierats för att kunna expandera till en ny marknad är att ha ett starkt varumärke, erfarenhet och mänskligt kapital. Genom att besvara studiens frågeställningar uppfyller studien syftet att bidra med ökad förståelse för hur svenska outdoorföretag väljer nya internationella marknader. / BACKGROUND The interest in outdoor life is significantly growing in Sweden. There is a huge demand for Swedish outdoor products as they are known for their high quality, design and functionality - they have a very good reputation abroad. Internationalisation is becoming an increasingly important part of the companies’ operations. Although the international market selection is one of the most important decisions for them, little research has been done within this area. Therefore, it is important to conduct a qualitative study that explains the Swedish outdoor companies’ strategy in international market selection, in a deeper and more detailed perspective. Which market will be the next one to enter – and why? AIM The aim of this study is to contribute to an increased understanding of how Swedish outdoor companies select new international markets. METHODOLOGY  This study is a qualitative case study in which six Swedish outdoor companies have been studied. Furthermore, the collection of the empirical data was conducted through semi-structured interviews. The study takes a hermeneutic perspective with an abductive research approach. CONCLUSION In the conclusion it can be stated that Swedish outdoor companies choose new international markets in different ways. The decision-making process differs between the studied companies. Some tend to be more rational in their decisions, while others make decisions based on intuition. The study examines the companies’ attitude to the psychic distance, in terms of geographical, cultural, economic and institutional differences, where the companies are agreed. The geographical and cultural distance has barely any meaning for the choice of a new market, while economic and institutional differences can be decisive. The key characteristics that have been identified as crucial for the expansion into a new market, are a strong brand and brand equity, experience and human capital. By answering the research questions, the study fulfills the purpose of contributing to an increased understanding of how Swedish outdoor companies select new international markets

This study aims to explore the factors, aspects, and trends considered in the International Market Selection (IMS) process. Consequentially, it develops a deeper understanding of the challenges faced by home region oriented multinational enterprises (MNEs) during international expansion. The research question focuses on how home region oriented MNEs approach and execute market selection within the internationalization process. The importance of IMS is emphasized, as many MNEs struggle with Internationalization, and only a few achieve global presence. While previous academic literature highlighted the significance of market selection, a comprehensive model encompassing all relevant criteria on a macroeconomic level was lacking. To address this gap, in-depth interviews are conducted with practitioners and experts to gather qualitative insights. The main findings reveal that MNEs primarily face three key challenges when internationalizing and selecting new markets: Company internal aspects, product market aspects, as well as the macroeconomic situation. This thesis focuses on the macroeconomic assessment aspect and develops a holistic, transparent, applicable, and current framework: the multicriteria decision making framework. The framework bases on 53 indicators, structured according to the PESTLE model and helps selecting the right market based on macroeconomic conditions. To demonstrate the framework's applicability, a case study is conducted in collaboration with a global chemical company targeting the Latin American market. Using the framework, a clear recommendation on country attractiveness is provided. The company could leverage this information to maintain or intensify operations in high-scoring countries such as Chile, Mexico, or Brazil, while exercising caution or avoiding low-scoring countries such as Argentina or Venezuela. Accordingly, does this study not only explore behaviors and challenges faced by home region oriented MNEs but also introduce an applicable framework for IMS in the real business world. The framework's practicality makes it valuable for future research and contributions in the field of IMS.

​This thesis explores the complex decision-making process behind companies' first international market selection, focusing on the influence of cultural similarities and geographic proximity. By examining how these factors intersect with strategic market opportunities, the study aims to provide valuable insights into why certain markets are prioritized during international expansion. The study took on a qualitative approach, conducted through interviews with consultants in internationalization. The data was analyzed with an explorative, abductive approach, with support of the analytical model formed by the literature review. The results reveal a tendency among Swedish companies to prioritize neighboring markets as their first international expansion due to perceived cultural and geographic advantages. While the findings align with the Uppsala model of internationalization, it often leads to a superficial understanding of cultural similarities and neglects comprehensive market analysis. The findings highlight the influence of intuition, gut feeling, coincidences, and personal networks in market selection, which introduces unpredictability into the decision-making process. The study underscores the need for a balanced approach that integrates intuitive decisions with thorough market analysis to avoid missed opportunities and unexpected challenges.

This research studies the phenomena of hospital groups expanding beyond their home country by setting up operations in less developed countries, and patients travelling out of their country for healthcare services, by looking at the internationalisation of private healthcare firms from Singapore. The research helps to address a gap in the literature as there is a lack of firm-level research on internationalisation of healthcare firms, and even more so for firms from Southeast Asia. For practitioners, the research offers a better understanding of the internationalisation strategies and choices adopted by healthcare firms, and more generally, service firms. With the region which Singapore is part of undergoing rapid integration, the study also offers useful insights on the impact of regional integration on internationalisation of healthcare firms. Using a multiple-case study of four private healthcare firms from Singapore, the research examines the where (market selection), how (entry modes) and when (timing) of their internationalisation, as well as their response to regional integration, in the context of existing literature on internationalisation of firms. The study shows that the internationalisation strategies of healthcare firms from Singapore, in relation to market selection, entry modes and timing of entry, were well-explained by existing theories on internationalisation of firms. Family ownership was identified as a reason for the deviation from theory for one of the cases. Specifically on the internationalisation of healthcare firms, the study shows that healthcare services in Singapore is undergoing commodification, with increasing use of and emphasis on 'marketing' to procure patients-customers; increasing emphasis on quality; and the creation of customers and consumers. This has made healthcare services increasingly 'exportable' in the sense that they can be 'sold' overseas away from the point of 'production', via representative offices, instead of having to rely on higher commitment non-export entry modes as indicated in the literature. Another deviation from literature was the case firms' stated preference to make market entry using management contract instead of joint venture. This can be attributed to their strategic need to internationalise quickly and the high cost of building new healthcare facilities. Using the findings from the analysis, the thesis proposed a characterization of the internationalisation strategies of a healthcare firm from Singapore, in terms of market selection, entry modes and timing of entry. A conceptual model on the internationalisation of healthcare firms was also developed, identifying the factors which may influence the internationalisation of healthcare firms. Besides, the study identified that the healthcare firms went through four phases of internationalisation process, namely, learning, opportunistic, de-internationalisation and maturisation, with each presenting some unique patterns of internationalisation by the firms. Further analysis showed that the four phases tied in well with the 'Link-Leverage-Learn' framework of Mathews (2006) for emerging/second wave multinational enterprises (MNEs), hence offering a new perspective for evaluating the internationalisation of such firms in future. On impact of regional integration, a possible 'ideal' model for a healthcare MNE in an economically integrated region was proposed. Applying the model, it is proposed that internationalisation by healthcare MNEs will increase as the region integrates, and there will be further consolidation within the industry. Healthcare MNEs from small countries like Singapore are likely to compete particularly strongly, as they are under even greater pressure to secure the foreign markets given the constraint of their small domestic population.

In the wake of globalization, an increasing amount of firms must consider internationalization strategies to remain competitive. The strategic decision of where to expand is complex by nature. This is particularly true for retailers, and despite this being generally accepted, relatively little is in fact known about retailers ́ choice of foreign markets. Hence, this study investigates international market selection (IMS) strategies of Swedish retailers with global operations. The purpose of this study is twofold; first, to explore which criteria Swedish retailers use upon making international market selection decisions and investigate the relative importance among these criteria. Second, to assess the possibilities of creating a weighted IMS model for retailers, which can be use as guidance for marketing practitioners. The research questions which will be answered are: How do Swedish international retailers select foreign markets? What are the possibilities of creating a weighted IMS model for retailers? The study embraces a qualitative strategy with an exploratory research approach and a multiple case study design. Through extensive literature review, a conceptual framework is constructed, and subsequently developed, post gaining insight in practitioners’ reasoning. The empirical data was gathered through interviews with managers of Swedish retailers with international presence, as well as strategy consultants who routinely work with strategy conformation for Swedish retailers. Our findings show that criteria which influence IMS decisions among Swedish retailers are quite similar among firms and can be arranged under three main categories; market attractiveness, psychic distance and internal factors. Moreover, as a result of the empirical findings, we suggest previous IMS research lack one important factor which influences the IMS decisions, namely “gut-feeling”/coincidence. The relative importance among factors proved to vary among firms. Consequently, four concepts aiming at explaining the variations were developed. The four concepts include firm size, firm objective, industry of the firm, and ownership structure. Finally, with support from respondents, we arrived at a conclusion suggesting that construction of a weighted IMS model for all types of retailers is unfeasible. However, if the scope is limited to only include firms of similar characteristics as proposed by the four concepts, such model could potentially yield solid validity.