This submodule will focus on explaining why international networking is important. It will clarify why SMEs need to have strong international networking skills, and what are the benefits of building a strong European network, when aiming to internationalise their operations. Moreover, since international networking is so vital, you will learn how networking is of strategic importance to your SME. In more practical terms, you will learn how to organise and prioritise your SME’s networking needs, and consequently draft an actionable international networking strategy, which will help you with your firm’s overall internationalisation plans.
Many companies enter unfamiliar markets around the globe. The concept of doing business in these markets requires significant changes in the way commercial activities are carried out. To succeed in international markets, SMEs must collect a variety of data, preferably in systematic and clearly structured manner. In this section you will learn how to assess global marketing environment, using PESTEL analysis. Further, we will look at cultural issues and buying behaviour in international context.
Business models for internationalization
Whether you are familiar or not with the concept of business model, as a business owner or staff member of an existing business, you already have a business model implemented. As business model is a key tool supporting definition and innovation of business strategies, before exploring the innovation of business models for internationalization, in this submodule we will provide you the basis to understand and design your business model . This first submodule will help you to understand the concept of business models and will provide you knowledge, tools and tips to help you design and write down your business model for internationalization.
Security measures are fundamental for any activity undertaken online, especially important in terms of e-commerce. Why is this so? With the implementation of effective security measures you will be guaranteeing not only the safety of your clients, but also your business and yourself. Apart from protecting sensitive data, safe browsing or secured payment (which are just w few examples), when considering SME internationalisation, you may be required to introduce additional security measures based on the rules and conditions of the markets you are targeting. In this sub-module you will find out which security measures are a must, which ones your customers are expecting, why you should invest in your e-security and how all these measures will impact SME internationalisation with the use of online strategies.
International Open Innovation Management
Open innovation is not only one of the most recommended strategies to accelerate SME growth and help them overcome typical resource limitations, but can also facilitate and increase success probability of internationalisation. Despite its high potential to stimulate SME growth, SMEs still rarely take a full advantage of open innovation. In this section you will learn what international open innovation is, why it can be of value for your SME and how it can contribute to your internationaliation plans. Further, we will look at what challenges you should be prepared to face applying it into your growth strategy.