SME’S INTERNATIONALIZATION INITIATIVES: BUSINESS & GROWTH STRATEGY, ICT AND TECHNOLOGY

Abstract

Small and medium enterprises (SMEs) in Malaysia are recognized as one of the drivers of the economy, as reflected by their role in supporting the economic growth, job creation, promoting the entrepreneurial environment, expand the tax base and the drivers of innovation. SMEs are also urged to participate in the international market not solely to develop their growth and expansion, but also their participating role in the development of nations’ economy. Thus, this qualitative study aims to discover and provide substantial information about the entrepreneurial environment on the internationalization initiatives of Malaysian SMEs to venture the global market in the perspectives of the perception of international business; technological environment and ICT; and the growth strategy. A series of semistructured in-depth interviews were undertaken with four owners of SMEs business represented by two personals from each manufacturing sector and services sector respectively. The findings indicated that, SMEs will consider things such as the operation of business, foreign culture, currency and language, rules and regulation and also the opportunity for their international business strategy. It was also revealed that the implementation of ICT can be a catalyst for growth in the international market since it able to reenergize the business through myriad functions and accessibility. The adoption of technology such as advanced or sophisticated machinery, can boost the production effectively and efficiently that crucial as one of the criteria for success in the international market. SMEs also will attempt to increase the production, create a new product, explore a new market, diversify products, knowledge improvement, and conducting research and development (R&D) activities for their growth strategy. It is anticipated that this study could be useful for entrepreneurs, policy makers and authorities in developing the strategies and promotes internationalization entrepreneurial environment in Malaysia. Other than these substantial findings, the limitation and future study alsodiscussed.