A decision model for international market selection by entrepreneurs: a cross-country investigation
Abstract
Purpose
This study aims to examine the international market selection process of entrepreneurs operating internationally.
Design/methodology/approach
Four small and medium-sized comparative and rich-information case studies were purposefully selected from among Australian and Arabian firms. Data were collected via in-depth personal interviews, follow-up interviews and questionnaire instrument.
Findings
The results revealed that entrepreneurs used a four-stage systematic decision-making process to attain profitable foreign market choices. The decision process was influenced by cognitive boundaries as entrepreneurs relied on the availability experiential, anchoring and adjustment heuristic.
Research limitations/implications
The research’s findings and the proposed decision model will, significantly, assist entrepreneurs, willing to expand internationally, in enhancing their decision-making to attain profitable foreign market choices. Further, it provides benefits to foreign investment policymakers in host countries by assisting them to attract more inward foreign direct investments, and, accordingly, enhance the economic and social development movement in their countries.
Originality/value
This study provides a significant theoretical contribution to the literature on the internationalization process of entrepreneurs and small- and medium-sized enterprises through developing a decision model for selecting and entering foreign markets by entrepreneurs in a cross-country context. Further, the study provides significant methodological contributions with regard to the effectiveness of the qualitative case study method in capturing elements of the foreign market selection process.
Keywords
Acknowledgements
The author would like to thank Associate Editor Prof. Ambika Zutshi and the anonymous reviewers for their thoughtful and constructive comments and efforts which contributed to the improvement of this article.
Citation
Al Qur’an, M.N. (2023), "A decision model for international market selection by entrepreneurs: a cross-country investigation", European Business Review, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/EBR-04-2023-0106
Publisher
:Emerald Publishing Limited
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