•  
  •  
 
ASEAN Marketing Journal

Abstract

Manuscript type: Qualitative paper

Research aims: To explore the factors influencing the recognition of international opportunities among entrepreneurs in emerging markets, focusing on small and medium-sized enterprises (SMEs).

Design/methodology/approach: This study employs multiple case studies, investigating six Indone- sian SMEs in the creative industries.

Research Findings: Entrepreneurs often recognize international opportunities through serendipi- tous events such as encounters with local agents, communications with foreign clients via Google Ads/Facebook Ads, invitations from government entities, and referrals from acquaintances. These international opportunities are often acknowledged based on prior business experience from initial internationalization, the use of social and business networks, and digital marketing strategies. While initial expansion into the global market was impromptu, subsequent entries became deliberate strate- gies involving social and business networks, previous international experience, and digital marketing platforms such as TikTok Shop, Facebook, and Instagram.

Theoretical Contribution/Originality: This study provides a comprehensive understanding of how SMEs in emerging markets recognize international opportunities, emphasizing the role of serendipi- tous events and digital marketing in the internationalization process. practitioner/policy Implication: Policymakers and practitioners should support SMEs in leverag- ing digital marketing platforms and building strong social and business networks to enhance their recognition and pursuit of international opportunities. Research limitation/Implications: The study is limited to Indonesian SMEs in the creative indus- tries, which may impact the generalizability of the findings. Future research could investigate similar dynamics in other sectors and emerging markets to validate and extend these insights.

References

Angelsberger, M., Kraus, S., Mas-Tur, A., & Roig-Tierno, N. (2017). International opportunity recognition: An overview. Journal of small business strategy, 27(1), 19-36.

Anggadwita, G., Luturlean, B. S., Ramadani, V., & Ratten, V. (2017). Socio-cultural environments and emerging economy entrepreneurship: Women entrepreneurs in Indonesia. Journal of Entrepreneurship in Emerging Economies, 9(1), 85-96. https://doi.org/10.1108/JEEE-03-2016-0011

Astuti, N. C. (2024, 2024/12/31). Internationalisation of born-digital enterprises using an effectuation lens: case studies in the games industry. Cogent Business & Management, 11(1), 2361866. https://doi.org/10.1080/23311975.2024.2361866

Brieger, S. A., Chowdhury, F., Hechavarría, D. M., Muralidharan, E., Pathak, S., & Lam, Y. T. (2022, 2022/12/01/). Digitalization, institutions and new venture internationalization. Journal of International Management, 28(4), 100949. https://doi.org/https://doi.org/10.1016/j.intman.2022.100949

Chandra, Y. (2017). A time-based process model of international entrepreneurial opportunity evaluation. Journal of International Business Studies, 48(4), 423-451. https://doi.org/10.1057/s41267-017-0068-x

Chandra, Y., Styles, C., & Wilkinson, I. (2009). The recognition of first time international entrepreneurial opportunities. International Marketing Review, 26(1), 30-61. https://doi.org/10.1108/02651330910933195

Chandra, Y., Styles, C., & Wilkinson, I. (2015). Opportunity portfolio: Moving beyond single opportunity explanations in international entrepreneurship research. Asia Pacific Journal of Management, 32(1), 199-228. https://doi.org/10.1007/s10490-014-9400-1

Chetty, S., Ojala, A., & Leppäaho, T. (2015). Effectuation and foreign market entry of entrepreneurial firms. European Journal of Marketing, 49(9/10), 1436-1459. https://doi.org/10.1108/EJM-11-2013-0630

Crick, D., & Spence, M. (2005). The internationalisation of ‘high performing’ UK high-tech SMEs: a study of planned and unplanned strategies. International Business Review, 14(2), 167-185. https://doi.org/10.1016/j.ibusrev.2004.04.007

Dew, N. (2009). Serendipity in Entrepreneurship. Organization Studies, 30(7), 735-753. https://doi.org/10.1177/0170840609104815

Di Gregorio, D., Musteen, M. C., & Thomas, D. (2022). International business opportunity recognition and development. International journal of entrepreneurial behaviour & research, 28(3), 628-653. https://doi.org/10.1108/IJEBR-03-2021-0227

Eckhardt, J. T., & Shane, S. A. (2003). Opportunities and entrepreneurship. Journal of Management, 29(3), 333-349. https://doi.org/10.1016/s0149-2063(02)00225-8

Eisenhardt, K. M., & Graebner, M. E. (2007). Theory building from cases: Opportunities and challenges. Academy of Management Journal, 50(1), 25-32. https://doi.org/10.5465/AMJ.2007.24160888

Felzensztein, C., Ciravegna, L., Robson, P., & Amorós, J. E. (2015). Networks, Entrepreneurial Orientation, and Internationalization Scope: Evidence from Chilean Small and Medium Enterprises. Journal of Small Business Management, 53(S1), 145-160. https://doi.org/10.1111/jsbm.12188

Fraccastoro, S., Gabrielsson, M., & Pullins, E. B. (2021). The integrated use of social media, digital, and traditional communication tools in the B2B sales process of international SMEs. International Business Review, 30(4), 101776. https://doi.org/10.1016/j.ibusrev.2020.101776

Fuerst, S., & Zettinig, P. (2015). Knowledge creation dynamics within the international new venture. European Business Review, 27(2), 182-213. https://doi.org/10.1108/EBR-03-2013-0036

Gabrielsson, M., & Gabrielsson, P. (2011). Internet-based sales channel strategies of born global firms. International Business Review, 20(1), 88-99. https://doi.org/10.1016/j.ibusrev.2010.05.001

Ge, G. L., & Wang, H. Q. (2013). The impact of network relationships on internationalization process: An empirical study of Chinese private enterprises. Asia Pacific Journal of Management, 30(4), 1169-1189. https://doi.org/10.1007/s10490-012-9332-6

Gong, S., Wang, W., & Li, Q. (2019). Marketing communication in the digital age: online ads, online WOM and mobile game adoptions. Nankai Business Review International, 10(3), 382-407. https://doi.org/10.1108/NBRI-12-2018-0073

Haenninen, M., Smedlund, A., & Mitronen, L. (2018). Digitalization in retailing: multi-sided platforms as drivers of industry transformation. Baltic journal of management, 13(2), 152-168. https://doi.org/10.1108/BJM-04-2017-0109

Hajizadeh, A., & Zali, M. (2016). Prior knowledge, cognitive characteristics and opportunity recognition. International journal of entrepreneurial behaviour & research, 22(1), 63-83. https://doi.org/10.1108/IJEBR-05-2015-0110

Harms, R., & Schiele, H. (2012). Antecedents and consequences of effectuation and causation in the international new venture creation process. Journal of International Entrepreneurship, 10(2), 95-116. https://doi.org/10.1007/s10843-012-0089-2

Hurmerinta, L., Nummela, N., & Paavilainen-Mäntymäki, E. (2015). Opening and closing doors: The role of language in international opportunity recognition and exploitation. International Business Review, 24(6), 1082-1094. https://doi.org/10.1016/j.ibusrev.2015.04.010

Kalinic, I., Sarasvathy, S. D., & Forza, C. (2014). ‘Expect the unexpected’: Implications of effectual logic on the internationalization process. International Business Review, 23(3), 635-647. https://doi.org/10.1016/j.ibusrev.2013.11.004

Kiss, A. N., Danis, W. M., & Cavusgil, S. T. (2012). International entrepreneurship research in emerging economies: A critical review and research agenda. Journal of Business Venturing, 27(2), 266-290. https://doi.org/10.1016/j.jbusvent.2011.09.004

Kiss, A. N., Danis, W. M., Nair, S., & Suddaby, R. (2020). Accidental tourists? A cognitive exploration of serendipitous internationalisation. International Small Business Journal, 38(2), 65-89. https://doi.org/10.1177/0266242619884032

Knight, G. (2015). Born global firms: Evolution of a contemporary phenomenon. Entrepreneurship in International Marketing, 25, 3-19. https://doi.org/10.1108/S1474-797920140000025001

Kontinen, T., & Ojala, A. (2011). Network ties in the international opportunity recognition of family SMEs. International Business Review, 20(4), 440-453. https://doi.org/10.1016/j.ibusrev.2010.08.002

Kraus, S., Niemand, T., Angelsberger, M., Mas-Tur, A., & Roig-Tierno, N. (2017). Antecedents of international opportunity recognition in Born Global firms. Journal of Promotion Management, 23(3), 386-406. https://doi.org/10.1080/10496491.2017.1294869

Laperrière, A., & Spence, M. (2015). Enacting international opportunities: The role of organizational learning in knowledge-intensive business services. Journal of International Entrepreneurship, 13(3), 212-241. https://doi.org/10.1007/s10843-015-0151-y

Lee, Y. Y., Falahat, M., & Sia, B. K. (2021). Drivers of digital adoption: a multiple case analysis among low and high-tech industries in Malaysia. Asia-Pacific journal of business administration, 13(1), 80-97. https://doi.org/10.1108/APJBA-05-2019-0093

Lin, S., Mercier-Suissa, C., & Salloum, C. (2016). The Chinese born globals of the Zhejiang Province: A study on the key factors for their rapid internationalization. Journal of International Entrepreneurship, 14(1), 75-95. https://doi.org/10.1007/s10843-016-0174-z

Mainela, T., Puhakka, V., & Servais, P. (2014). The concept of international opportunity in international entrepreneurship: A review and a research agenda. International Journal of Management Reviews, 16, 105-129. https://doi.org/10.1111/ijmr.12011

Masitoh, S. (2022). Kememparekraf: Ekonomi Kreatif Menyumbang 7,8% PDB Nasional. Nasional. Retrieved 15 February 2024, from https://nasional.kontan.co.id/news/kemenparekraf-ekonomi-kreatif-menyumbang-78-pdb-nasional

McDougall‐Covin, P., Jones, M. V., & Serapio, M. G. (2014). High‐potential concepts, phenomena, and theories for the advancement of international entrepreneurship research. Entrepreneurship Theory and Practice, 38(1), 1-10. https://doi.org/10.1111/etap.12090

Miles, M. B., & Huberman, A. M. (1984). Qualitative data analysis : a sourcebook of new methods. Sage Publicaions.

Miles, M. B., Huberman, A. M., & Saldaña, J. (2020). Qualitative data analysis : a methods sourcebook (Fourth edition. ed.). SAGE.

Monaghan, S., Tippmann, E., & Coviello, N. (2020). Born digitals: Thoughts on their internationalization and a research agenda. Journal of International Business Studies, 51(1), 11-22. https://doi.org/10.1057/s41267-019-00290-0

Muzychenko, O., & Liesch, P. W. (2015). International opportunity identification in the internationalisation of the firm. Journal of World Business, 50(4), 704-717. https://doi.org/10.1016/j.jwb.2014.12.001

Njinyah, S. Z. (2018). The effectiveness of government policies for export promotion on the export performance of SMEs Cocoa exporters in Cameroon. International Marketing Review, 35(1), 164-185. https://doi.org/10.1108/IMR-05-2016-0103

Oviatt, B. M., & McDougall, P. P. (2005). Defining international entrepreneurship and modeling the speed of internationalization. Entrepreneurship Theory and Practice, 29(5), 537-553. https://doi.org/10.1111/j.1540-6520.2005.00097.x

Oyson, M., & Whittaker, H. (2015). Entrepreneurial cognition and behavior in the discovery and creation of international opportunities. Journal of International Entrepreneurship, 13(3), 303-336. https://doi.org/10.1007/s10843-015-0156-6

Pettersen, I. B., & Tobiassen, A. E. (2012). Are born globals really born globals? The case of academic spin-offs with long development periods. Journal of International Entrepreneurship, 10(2), 117-141. https://doi.org/10.1007/s10843-012-0086-5

Pinho, J. C., & Prange, C. (2016). The effect of social networks and dynamic internationalization capabilities on international performance. Journal of World Business, 51(3), 391-403. https://doi.org/10.1016/j.jwb.2015.08.001

Reuber, A., Dimitratos, P., & Kuivalainen, O. (2017). Beyond categorization: New directions for theory development about entrepreneurial internationalization. Journal of International Business Studies, 48(4), 411-422. https://doi.org/10.1057/s41267-017-0070-3

Reuber, A., Knight, G., Liesch, P., & Zhou, L. (2018). International entrepreneurship: The pursuit of entrepreneurial opportunities across national borders. Journal of International Business Studies, 49(4), 395-406. https://doi.org/10.1057/s41267-018-0149-5

Shamsuddoha, A. K., Oly Ndubisi, N., Yunus Ali, M., & Oly Ndubisi, N. (2009). Impact of government export assistance on internationalization of SMEs from developing nations. Journal of enterprise information management, 22(4), 408-422. https://doi.org/10.1108/17410390910975022

Spence, M., & Crick, D. (2006). A comparative investigation into the internationalisation of Canadian and UK high-tech SMEs. International Marketing Review, 23(5), 524-548. https://doi.org/10.1108/02651330610703436

Tabares, A., Chandra, Y., Alvarez, C., & Escobar-Sierra, M. (2020). Opportunity-related behaviors in international entrepreneurship research: a multilevel analysis of antecedents, processes, and outcomes. International Entrepreneurship and Management Journal. https://doi.org/10.1007/s11365-020-00636-3

Terán-Yépez, E., Jiménez-Castillo, D., & Sánchez-Pérez, M. (2021). International opportunity recognition: A comprehensive bibliometric review. Journal of International Entrepreneurship, 19(1), 18-52. https://doi.org/10.1007/s10843-020-00276-2

Tiwari, S. K., & Korneliussen, T. (2018). Exporting by experiential knowledge: a study of emerging market micro firms. International Marketing Review, 35(5), 833-849. https://doi.org/10.1108/IMR-01-2016-0002

Urban, B., & Willard, C. (2017). The antecedents of opportunity recognition in internationalized firms: An empirical study in South Africa. International Journal of Entrepreneurship and Innovation, 18(3), 175-184. https://doi.org/10.1177/1465750317713931

Vasilchenko, E., & Morrish, S. (2011). The Role of Entrepreneurial Networks in the Exploration and Exploitation of Internationalization Opportunities by Information and Communication Technology Firms. Journal of International Marketing, 19(4), 88-105.

Wang, S. L., Gu, Q., Von Glinow, M. A., & Hirsch, P. (2020). Cultural industries in international business research: Progress and prospect. Journal of International Business Studies, 51(4), 665-692. https://doi.org/10.1057/s41267-020-00306-0

Welter, F., Baker, T., & Wirsching, K. (2019). Three waves and counting: the rising tide of contextualization in entrepreneurship research. Small Business Economics, 52(2), 319-330. https://doi.org/10.1007/s11187-018-0094-5

Wisnubroto, K. (2023). Industri Kreatif Terus Moncer. https://indonesia.go.id/kategori/editorial/7859/industri-kreatif-terus-moncer?lang=1

Yang, M., Gabrielsson, P., & Andersson, S. (2023). EXPRESS: Entrepreneurs’ Social Ties and International Digital Entrepreneurial Marketing in SME Internationalization. Journal of international marketing (East Lansing, Mich.), 1069031X2311782. https://doi.org/10.1177/1069031x231178220

Yin, R. K. (2018). Case study research and applications: Design and methods (Sixth edition. ed.). SAGE Publications, Inc.

Zahra, S. A., & George, G. (2002). International entrepreneurship: The current status of the field and future research agenda. In R. D. I. M.A. Hitt, S.M. Camp, & D.L. Sexton (Ed.), Strategic entrepreneurship: Creating a new mindset (pp. 255-268). Blackwell Publishers.

Download

Share

COinS