Factors Influencing Internationalization and Entrepreneurial Growth of Research Paper

Factors Influencing Internationalization and Entrepreneurial Growth of Family-Owned Businesses - search Paper Examplefirms Generational Involvement is associated with the level of Entrepreneurial indication in family firms and, Entrepreneurial taste is positively related to the internationalization of family firms.Internationalization is the process by which firms both increase their aw arness of the learn and indirect influence of international transactions on their future, and establish and conduct transactions with firms in new-sprung(prenominal)(prenominal) countries (Koh, 2010, p.22). As 80% of businesses in US are family owned, it is responsible for 60% of employment. Although a lot of these firms are small in size, still they represent around one-third of Fortune 500 Companies and around thirty five percent of the S&P 500 Industrials. (Blodgett et al, 2012) In most companies around the globe, internationalization is an master(prenominal) challenge which they need to addr ess to make sure they remain competitive in todays Global Economy. An entry into foreign soil is marked with uncertainty which may require breaking out-of-door from traditional and long used manufacturing processes, acquiring new channel partners and exploring avenues for funding. However, internationalization can be more than even more challenging in family owned businesses, because the entry into foreign markets may require geomorphologic changes within the organization and most of these firms are extremely unwilling to lose family control. (Casillas et al, 2013). While family businesses aim for expansion, with exploring new markets, they are faced with the opposite force which is stability in their home market, which is relatively low-risk. (Casillas et al, 2013). Studies that get researched into the requisite of internationalization of family firms reveal an inclination toward family firms wanting to operate in the traditional markets and seem reluctant to suppose into fore ign territory. (Koh, 2010). This is not to say that NO family firms have surmounted this challenge, quite a few family firms have ventured into international markets and