Handbook of Research on European Business and Entrepreneurship
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Handbook of Research on European Business and Entrepreneurship

Towards a Theory of Internationalization

Edited by Léo-Paul Dana, Isabell M. Welpe, Mary Han and Vanessa Ratten

This unique Handbook illustrates how entrepreneurs across Europe tackle internationalization. This timely and important book identifies patterns and builds a theory of international entrepreneurship in Europe.
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Chapter 10: Internationalization of SMEs in Cyprus

Demetris Vrontis and Alkis Thrassou


Demetris Vrontis and Alkis Thrassou Introduction: Aims and value of the research This research investigates the existing international competitive situation of SMEs in Cyprus (CySMEs) and their internationalization limitations and potentialities. Through the presentation and interrelation of the various home-country and individual-firm international competitive factors, this chapter pinpoints the critical parameters that affect international activities. These stem also from CySMEs’ current home-country marketing environment situation which reveals, among other things, the relative competitive advantages and disadvantages of such small firms in the global arena. Finally, and consequently, it focuses on small professional services firms which surface as the most promising type of organizations to compete internationally. The research is based on an extensive literature search and review and is largely a conceptual analysis and development of past generic and current specific theories on the subject. The first part of the chapter (introduction) presents the research aims, approach and value and provides some general information on Cyprus. The second part (literature review) exhibits the existing theories on the subject which are discussed, analysed and interrelated in the third part (analysis and development), to distil some specific findings whose expansion, interrelation and extrapolation allows specific conclusions regarding CySMEs’ internationalization to be reached. The research in the fourth part (overview and conclusions) finally prescribes explicit and comprehensive guidelines on global/international strategy and marketing, making recommendations on the required means and approaches to maximize the probability of success. The findings show an intensely competitive and saturated local/national market environment,...

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