Abstract
This article examines the rapidly changing environment of international entrepreneurship. The force behind the change is diverse comprising environmental, socio-economic, and technological, including the emergence of intelligent robotics, 3-D printing, the Internet of all things (IOTs), generative artificial intelligence (AI), and the rapid transformation the WWW to WWW.03, amongst other evolving forces, each with profound impact on the iSMEs embedding ecosystems and operating environment. Introduction briefly introduces a selective list of the influential forces and a range of their potential affects, while the “Further development and literature review” section further examines them within their respective contexts of the emerging crises, and their operational, strategic, and theoretical frameworks as the unfolding influential forces evolve with challenging impacts on the internationalized, or internationalizing, SMEs’ (iSMEs’) pool of capabilities and resources with direct effects on their global competitiveness, and growth at home and internationally. The “Discussion” section, in three parts, explores the combined effects of forces of change on the iSMEs’ top management team (TMT) to analyse their strategic posture, the potency of their firm’ resources, and dynamic capabilities, to take potent decisions for leading to potentially non-trivial organizational and strategic change, including fundamental business model innovation (BMI). “Conclusions, implication, and suggestions” further examines the adverse impacts of the recent crises in three parts, ranging from the 2008–2009 global financial crisis (GFC), COVID pandemic, and the unfolding challenges of the climatic change as discussed in the recent COP 28 meetings, and its suggestion for undertaking remedial actions at the corporate, social, and public policy levels. Combined, the necessary change my result in significant architectural and structural change in many common worldwide aspects without sparing anyone, anything, and any location.
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Notes
Individuals’ reasoning may be based on their state of information affecting their opinion or their different political and social positions, amongst others, influence their behavioural response to change in general and regulations in particular. Although the top management team’s (TMT’s) influences the corporate reasonings in favour or against a socio-regulatory position, the state of corporate capabilities, competitiveness, resources, strategies, and vision may be more influential in a corporate position and response.
Although Spanish flu of 1918–1919 reportedly killed close to 38 million, the World War II was the largest and most violent military conflict in human history. The battle deaths were estimated at about 15 million military personnel, and civilian deaths at over 38 million. (two Sources: No. 1: https://www.google.com/search?q=how+many+people+died+from+ww2&sca_esv=589800233&sxsrf=AM9HkKmEvtUOgwRQ1xgmIk69maFGB67jGQ%3A1702308081887&ei=8Sh3ZcPlNeXx0PEP9beM0AU&oq=how+many+people+died+from+ww&gs_lp=Egxnd3Mtd2l6LXNlcnAiHGhvdyBtYW55IHBlb3BsZSBkaWVkIGZyb20gd3cqAggAMgsQABiABBiKBRiRAkjpdlCKDliWLHACeAGQAQCYAWmgAaoCqgEDMS4yuAEByAEA-AEBwgIFEAAYgATCAggQABiABBjHA8ICCxAAGIAEGIoFGIYD4gMEGAAgQYgGAQ&sclient=gws-wiz-serp. And Source No. 2: Http://dcas.dmdc.osd.mil/dcas/app/conflictCasualties/ww2
However, the COVID 19 caused about 3.4 million people during the peace time. (Source: https://www.who.int/data/stories/the-true-death-toll-of-covid-19-estimating-global-excess-mortality).
it is noteworthy that unindent discussion of ESG is beyond the purpose and scope of this article. However, ask the global warming also requires strategic change, impacting nearly all aspects of I SME operations, it needs to be included an agenda for change, as sustainability is as important, if not more important, than other issues requiring change and should not, therefore, be set aside in favour of attending to other changes.
The scope of technological change and innovation are broad and far beyond this article. Therefore, a careful selection in terms of positive potential impacts on, and usefulness to, iSMEs in general and in mitigating against the emerging climate change crisis in particular, had to made at the outset of this research study.
An example of global competition supported by increased competitiveness is the auto industry. See, for example, Llopis-Albert, C., Rubio, F., Valero, F. (2021).
Initially, this section had three separate parts, including (i) the literature review, (ii) further elaboration and description of the influential forces of change, and (iii) their respective implications or imperatives for iSMEs attaining higher competitiveness. In favour of time and clarity, reviewers suggested to combine all the three in the discussion of each influential forces change.
Firms can access and use remotely located technological capabilities through their licencing and down-loading them for use from their associated Big Data or own Cloud Storage.
It is noteworthy that the invaluable lesson of the above experiences influenced this article’s primary message of a strong need for technological innovation and efficacious action for meeting ESG requirements.
Some of the recent COP 28 suggestions for mitigating the damages of climatic change and global warming will be discussed in the “Conclusion, implication, and suggestion” section of this article.
SMEs are more than 97% all firms in Canada, while are closer to 99% firms in Europe.
Methane emissions are found to 28 time more damaging to the environment than CO2.
Firms can access and use remotely located technological capabilities through their licencing and downloading them for use from their associated big data or own cloud storage.
Except for significant change, such as engaging a new CEO, restructuring the Board of Directors or large structural change in a firm’s organizations, a firm’s internal improvement for higher competitiveness, efficiencies, and productivity, amongst others, are unobservable and difficult to readily detect, but may have profound effect on competitors, industry, markets, buyers, and suppliers.
Canada and the USA, for example, have been experiencing high annual inflation rates nearing 10% in consumer price index (CPI), and increases of more than 25% in food prices, in the post COVID period. Such inflation rates have also increased the lower income population’s need for much higher assistance, especially in food, not experienced recently.
See Haldane (2010) accessible at https://www.bis.org/review/r100406d.pdf, and Haldane (2009), Banking on the State, available at: http://www.bankofengland.co.uk/publications/speeches/2009/speech409.pdf
The total population of Canada was about 33 million people at the time.
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Etemad, H. The need for strategic redirection and business model change: The impact of evolving influential forces of change on international entrepreneurship environment. J Int Entrep 21, 441–463 (2023). https://doi.org/10.1007/s10843-024-00348-7
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DOI: https://doi.org/10.1007/s10843-024-00348-7