“Should i stay or should i go?”: a multiple-criteria group decision-making approach to SME internationalization
Abstract
Due to domestic markets’ current economic conditions, companies increasingly feel that they need to become actively involved in international trade. However, small and medium-sized enterprises (SMEs) typically face financial and intellectual constraints during internationalization processes. This means that decision makers must consider a wide range of different variables before deciding to internationalize firms. This study sought to integrate a well-established problem structuring method (i.e., cognitive mapping) and a multiple-criteria decision analysis (MCDA) technique (i.e., Decision EXpert (DEX)) in order to develop a decision model suitable for the identification and assessment of variables influencing SME internationalization capability. Using data collected during face-to-face meetings with a panel of experts (i.e., SME entrepreneurs and chief executive officers (CEOs)), a constructivist method of evaluating SME internationalization capability was created and tested using real data. The results confirm that the dual methodology adopted facilitates the development of a robust evaluation model that can improve decisionmaking processes in the context in question. Specifically, the proposed model identifies product features as the most important factor in SME capability for successful internationalization. In addition, internal factors are significantly more relevant than external factors. The integrated use of cognitive mapping and DEX provides decision makers with a well-informed perspective on SME internationalization capability. We know of no prior research reporting the use of these two methodologies in the SME internationalization context.
Keyword : cognitive maps, Decision EXpert (DEX), international entrepreneurship, internationalization process, small and medium-sized enterprises (SMEs)
How to Cite
Rosário, M. S. M., Ferreira, F. A. F., Çipi, A., Pérez-Bustamante Ilander, G. O., & Banaitienė, N. (2021). “Should i stay or should i go?”: a multiple-criteria group decision-making approach to SME internationalization. Technological and Economic Development of Economy, 27(4), 876-899. https://doi.org/10.3846/tede.2021.15055
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Dominguez, N., & Mayrhofer, U. (2017). Internationalization stages of traditional SMEs: Increasing, decreasing and re-increasing commitment to foreign markets. International Business Review, 26(6), 1051–1063. https://doi.org/10.1016/j.ibusrev.2017.03.010
Dubravska, M., & Sira, E. (2015). The analysis of the factors influencing the international trade of the Slovak Republic. Procedia Economics & Finance, 23, 1210–1216. https://doi.org/10.1016/S2212-5671(15)00569-9
Dutot, V., Bergeron, F., & Raymond, L. (2014). Information management for the internationalization of SMEs: An exploratory study based on a strategic alignment perspective. International Journal of Information Management, 34(5), 672–681. https://doi.org/10.1016/j.ijinfomgt.2014.06.006
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Eden, C., & Ackermann, F. (2004). Cognitive mapping expert views for policy analysis in the public sector. European Journal of Operational Research, 152(3), 615–630. https://doi.org/10.1016/S0377-2217(03)00061-4
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Evers, N., & O’Gorman, C. (2011). Network intermediaries in the internationalization of new firms in peripheral regions. International Marketing Review, 28(4), 340–364. https://doi.org/10.1108/02651331111149930
Ferreira, F. (2016). Are you pleased with your neighborhood? A fuzzy cognitive mapping-based approach for measuring residential neighborhood satisfaction in urban communities. International Journal of Strategic Property Management, 20(2), 130–141. https://doi.org/10.3846/1648715X.2015.1121169
Ferreira, F., Jalali, M., & Ferreira, J. (2016). Experience-focused thinking and cognitive mapping in ethical banking practices: From practical intuition to theory. Journal of Business Research, 69(11), 4953–4958. https://doi.org/10.1016/j.jbusres.2016.04.058
Ferreira, F., Jalali, M., Bento, P., Marques, C., & Ferreira, J. (2017a). Enhancing individual entrepreneurial orientation measurement using a metacognitive decision making-based framework. International Entrepreneurship & Management Journal, 13(2), 327–346. https://doi.org/10.1007/s11365-016-0388-5
Ferreira, F., Jalali, M., Zavadskas, E. K., & Meidute-Kavaliauskiene, I. (2017b). Assessing payment instrument alternatives using cognitive mapping and the Choquet integral. Transformations in Business & Economics, 16(2), 170–187.
Ferreira, F., Marques, C., Bento, P., Ferreira, J., & Jalali, M. (2015). Operationalizing and measuring individual entrepreneurial orientation using cognitive mapping and MCDA techniques. Journal of Business Research, 68(12), 2691–2702. https://doi.org/10.1007/s11365-016-0388-5
Ferreira, F., Spahr, R., Sunderman, M., Banaitis, A., & Ferreira, J. (2017c). A learning-oriented decisionmaking process for real estate brokerage service evaluation. Service Business, 11(3), 453–474. https://doi.org/10.1007/s11628-016-0315-4
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