International Business Decision-Making in Family Small and-Medium-Sized Enterprises
DOI:
https://doi.org/10.24310/ejfbejfb.v11i2.13842Keywords:
Family Firms, International Business, Decision-Making, SMEsAbstract
Family firm internationalization has become a topic of interest over the last few decades. However, there has been surprisingly little research about the actual international business decision-making in the family firm literature. The purpose of this article is to highlight specific family firm factors which affect the international business decision-making. Based on examples on international market entry, target market choice, entry mode choice, and entry timing decisions, it is suggested that long-term and regional orientation, knowledge-base and its transfer, bifurcation-bias, and perseverance of family managers are important factors affecting international business decision-making among family SMEs.
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