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Eje 3 International Bussines

This document discusses strategies for internationalization of small and medium enterprises (SMEs) in the manufacturing sector in Barranquilla, Colombia. It notes that SMEs represent an important sector for economic development but require higher competitiveness, including when interacting globally. The research aims to propose strategies to promote SME internationalization processes based on a review of theories, factors influencing internationalization, and case studies of SME internationalization in Latin America. It will analyze SMEs in Barranquilla to understand limitations and develop strategic actions to better insert them abroad. The results will provide knowledge to support SME growth and global engagement.

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0% found this document useful (0 votes)
90 views16 pages

Eje 3 International Bussines

This document discusses strategies for internationalization of small and medium enterprises (SMEs) in the manufacturing sector in Barranquilla, Colombia. It notes that SMEs represent an important sector for economic development but require higher competitiveness, including when interacting globally. The research aims to propose strategies to promote SME internationalization processes based on a review of theories, factors influencing internationalization, and case studies of SME internationalization in Latin America. It will analyze SMEs in Barranquilla to understand limitations and develop strategic actions to better insert them abroad. The results will provide knowledge to support SME growth and global engagement.

Uploaded by

Jeam Paul
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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STRATEGIES FOR THE INTERNATIONALIZATION OF SMEs IN THE

MANUFACTURING SECTOR IN THE CITY OF BARRANQUILLA

JEAM PAUL NUÑEZ OROZCO

TUTOR

DANIEL VARGAS

University Foundation of the Andean Area


Faculty of Administrative, Economic and Financial Sciences
Virtual International Business and Finance Program
Summary

In a dynamic and changing world where global trends show consumers increasingly
demanding in their preferences, it is necessary for companies to prioritize these needs and
provide products and services that are at the forefront of the market.

In this way, these are the economic basis for the development of countries, therefore, they
require a higher level of competitiveness and even more so when their processes facilitate
interactions with the global environment. The above denotes that it would be convenient to
delve into the structure of companies such as SMEs, so that the barriers to boost their
growth are reduced through internationalization strategies that allow them to transcend into
new markets in the future.

The results show that the strategies used must be developed from the point of view of each
stage of the internationalization process of SMEs, among which we can consider the
company's self-assessment, knowledge of the markets, export plan, networks of contacts,
product-oriented marketing strategies, among others and will increase in complexity
according to the degree of internationalization and experience that the company acquires.

Keywords: SMEs- internationalization- strategies- manufacturing sector

Abstract

In a dynamic and changing world where global trends show consumers increasingly
demanding in their preferences, it is necessary for companies to prioritize these needs and
provide products and services that are at the forefront in the market. In this way, these are
the economic base for the development of the countries, therefore, they require a higher
level of competitiveness and even more so when their processes facilitate interactions with
the world environment. The foregoing indicates that it would be convenient to delve into
the structure of companies such as SMEs, so that barriers are reduced to boost their growth
through internationalization strategies that in the future allow them to transcend to new
markets.

The results show that the strategies used must be developed from the point of view of each
stage of the internationalization process of SMEs, among which the self-evaluation of the
company, knowledge of the markets, export plan, networks of contacts, product-oriented
marketing strategies, among others and will increase in complexity according to the degree
of internationalization and experience acquired by the company.
Keywords: SMEs- internationalization- strategies- manufacturing sector

Introduction

The current conditions of international markets demand that companies search for new
growth alternatives in order to position themselves in the foreign market, generate greater
competitiveness and create a global vision. For this reason, it is important that companies
identify the main needs of their customers and offer products and services that are at the
forefront of the market.

Certainly, SMEs represent a sector with great momentum that contribute exponentially to
the production and distribution of goods and services. In addition, their great potential for
generating employment and, above all, their ability to adapt to the demands of the market
allow the insertion of their products and services. services in the international market are
accessible and promote dynamism in economies.

In this sense, the following research is carried out with the objective of proposing strategies
to promote the internationalization process of SMEs in the manufacturing sector in the city
of Barranquilla. The above is developed in five chapters, distributed as follows:

The first chapter covers the line of research, justification, the state of the art, problem
statement, formulation and systematization, in addition, the general objective is broken
down into the specific ones.

In the second chapter, the theoretical framework is presented that is made up of the internal
and external factors that affect the internationalization process of companies, the theories
and strategies of internationalization and the conceptual framework, relating each of the
different perspectives that explain such process.

Next, Chapter 3 explains the scientific methodology used for the research, which involves
the type of study, design and non-experimental approach, operational definitions, variables
and indicators, as well as the sources of information collection and data analysis.

In chapter 4, the results of the research are established, specifying their analysis according
to the study variables. Likewise, the bibliography that has been consulted is presented and
finally, strategic actions are proposed to improve and optimize the internationalization
process of SMEs, based on the results obtained in the previous analysis.

Finally, in chapter 5, the conclusions and recommendations of the entire research process
are stipulated, which contribute to knowledge for future studies based on the
recommendations raised.
1 line of research

This work is guided by the research line of Innovation and competitiveness in


organizations. In turn, for the development, the SMEs in the manufacturing sector located
in the city of Barranquilla were taken as the population under study.

To support this work, the theoretical contributions of several authors were considered
according to the variables to be developed around the Internationalization Process.

Additionally, the elements that frame the internationalization of small and medium-sized
companies in the manufacturing sector in the city of Barranquilla are related to the time
chosen for the bibliographic review in a range of 5 years, from 2014 to 2018.

2 Justification

Considering the analysis carried out on the role of SMEs and the contribution they make to
the economy of a country; in a practical context it will serve as support for the business
community that seeks strategies to meet its growth objectives and vision of
internationalization.

From the methodology used, a rigorous analysis of the bibliography obtained will be
developed, which will serve as a reference to consider aspects that have not been addressed,
which explain the main internal problems and external entities that limit SMEs in the
manufacturing sector in the city of Barranquilla in the internationalization process.

Furthermore, it is intended to incorporate previous studies which allow us to have better


visibility of their current state and propose new scenarios where these identified limitations
are overcome through the creation of strategic actions that generate an effective insertion of
SMEs abroad. Likewise, the collection and analysis of the data obtained, and the
knowledge generated will provide greater importance to the role of companies in the
country, as well as their durability over time.

This research project is guided by the parameters of the Universidad de la Costa CUC,
contributing to its scientific production under the line of research on innovation and
competitiveness in organizations, added to the confrontation of business
internationalization theories and the different factors that They influence the process to
occur in a small or medium-sized company in the manufacturing sector in the City of
Barranquilla.
3 State of the Art

Thanks to the rise of globalization, different challenges have been unleashed that require
facing global trends from different areas. With regard to internationalization, it has become
a fundamental key to have an increasingly vision

more transcendental than what is currently happening. Due to this, many authors have
aroused interest and developed different studies that allow us to address this topic from
different perspectives. However, this chapter aims to show the support for the theories
proposed by the different authors, focused on the business field, listing models and even
forms of the variables under study so that

they serve as a reference for the development of this research work.


A significant contribution to the study of SMEs in Colombia is made by Piedad Cristina
Martínez Carazo (2009), which she refers to in her research on the Export Development
Process of Colombian SMEs and describes different barriers that this type of referenced
companies must face. by studies carried out in several countries including the Latin
American context, in addition, it shows what these factors are so that they can survive in
the market, exposing in the final results that although the SMEs under study are in an initial
stage of their export development, they have great potential. to face the demand by
contrasting the idea that they could disappear quickly.

It is also considered pertinent to include the contributions made by Wilson Araque


Jaramillo and Andrés Jorge Argüello Salazar (2015) in their research on the
characterization of the internationalization process of Ecuadorian SMEs, so that it allows
exploring from the beginning the characteristics of the internationalization process seen
from the perspective of SMEs in Latin America, the motivation of a company for this
process, as well as the construction of a profile of those companies and the main economic
sectors that are forced to implement internationalization strategies.

Their conclusions highlight the behavior of internal organizational and external factors that
revolve around the internationalization process of Ecuadorian SMEs, aimed at the design of
business strategies aimed at exploring global markets. At the same time, they highlight the
importance of studying the internationalization of small and medium-sized companies as a
stimulant for the development of nations, which is why it is a key reference that was not
addressed but that allows this research work to delve deeper as strategies for SMEs to
promote its internationalization.

In the research carried out by Jorge Aníbal Restrepo Morales and Juan Gabriel Vanegas
López (2015), in their study: internationalization of SMEs: analysis of resources and
internal capabilities through fuzzy logic, they refer to the importance of studying the
internationalization capacity of SMEs considering their resources and strategic skills. In the
development, they highlight the creation of a model applied to a sample of 13 companies in
the textile and clothing cluster of the city of Medellín in Colombia, considering the
contribution in participation to the industrial GDP of the country of this sector, through a
type of research. qualitative and quantitative of a fuzzy logic system. In contrast, the results
confirmed what the authors had proposed in their hypothesis, indicating that the analyzed
sector does not currently have sufficient capabilities and resources for a successful insertion
into the international market, but, in addition, it manages to identify which factors and
variables in effect could improve those capabilities.

On the other hand, the studies carried out by Sabrina Arroyave (2012) on the
Internationalization of Latin American SMEs: a reference for business success in Colombia
focus their objective on small and medium-sized Colombian companies and those strategies
used by their managers in hostile and uncertain environments. . In addition to this, he
explains

the reason between the aforementioned network theory of internationalization seen from the
perspective of the process and at the same time the vision of openness towards foreign
markets and flexibility to change, as well as some fundamental elements such as innovation
and the inclusion of organizational networks to have greater knowledge of the global
environment. The above, through the documentary review methodology of small companies
in Latin America.

It also concludes that the approaches to address SMEs from different Latin American
countries follow the same line that highlights the importance of breaking paradigms
compared to traditional trade practices, opening up to new opportunities and even taking
advantage of trade agreements and the differentiating element of adapting to changes
quickly.

For their part, Diana Marcela Barbosa and Andrea Ayala (2014), refer in their research The
determinants of export orientation and results in exporting SMEs in Colombia to the
conceptualization of market orientation as a key factor of business success, also including
the importance and determination of business networks, which establish a business strategy
that generates growth and international expansion. As a result of the research, the years of
experience of the SME entrepreneur facilitate having a higher level of maturity to be able to
face an international environment, also including innovation as a need for adaptation and
evolution to access new markets.

It is pertinent to mention as background the contributions made by Jorge Isaac Lechuga,


Ana María Cazallo, Enohemi Olivero and Derlis Estruen, (2016) in their research for the
Colombian Association of Micro, Small and Medium Enterprises (ACOPI) on the
Diagnosis of SMEs Colombian exporters in the manufacturing and commerce sectors in
which the capacities for the internationalization of Colombian SMEs are analyzed
of the manufacturing and commerce sectors in Colombia. The above is carried out through
the methodology of a survey of businessmen in these aforementioned sectors and which
produced results to be taken into account from the point of view of the size of the
companies, and what they are doing regarding export activity, concluding from His
perspective is that SMEs must generate a deep understanding of the context if they want to
go further, but at the same time, take into account associativity as a tool to effectively
access international markets.

4 Statement of the problem

In a dynamic and changing world where global trends show consumers increasingly
demanding in their preferences, it is necessary for companies to prioritize these needs and
provide products and services that are at the forefront of the market. In this way, these are
the economic basis for the development of countries, therefore, they require a higher level
of competitiveness and even more so when their processes facilitate interactions with the
global environment.

Certainly, these global transformations are called “Globalization” defined according to Hill
(2001), as the change towards a world economy with a greater degree of integration and
interdependence, (Cited in Becerra, 2010, p. 174), which, in effect : has constituted the
development of new strategies that allow the barriers between countries and their
economies to be reduced, and also enable companies that have growth as their fundamental
objective to direct their gaze towards foreign markets, since globalization as an economic
and social phenomenon presents a wide range of possibilities and provides the context for
that purpose to be achieved (Becerra, 2010).

In accordance with the above, these transformations also have an impact on the
organizational vision of the world, which is why globalization also involves integrations of
different types, for example: regional, such as the North American trade blocs or the
European Union, and even trade agreements or the creation of international organizations
such as the United Nations (UN), the Inter-American Development Bank (IDB), among
others, in other words, “globalization constitutes the broadest process of
internationalization that the world has ever experienced. ”. (Dabat, Hernández and Vega,
2015, p. 68).

In this order of ideas, the current market conditions essentially include companies, so that
the search for new alternatives for their growth involves the need to position themselves in
foreign markets as an important factor for competitiveness and global vision. , as stated by
Welch and Luostarinen (1993) about internationalization as “the set of operations that
facilitate the establishment of links between the company and international markets,
throughout a growing process of international involvement and projection.” (Cited in
Araque and Arguello, 2015, p. 37). The above is also related to what was mentioned by
Zúñiga, Espinoza, Campos, Tapia, and Muñoz (2016) when they affirm that global markets
are the result of internationalization, since they define this process “as the participation of
companies in the international trade, on a larger scale, considering the requirements of the
market constituted in its destination.”

Business internationalization can take place in different regions, as is the case of Latin
America. This region is characterized by having experienced important changes in recent
decades, although towards the nineties, as stated by the Food and Agriculture Organization-
FAO (2013), after the economic liberalization of these countries, a
significant increase in global competitiveness (cited in Bianchi, Mingo and Fernández,
2018), with the high prices of natural resources and the strength of extractive activities
being the drivers of this growth (Bianchi, Mingo and Fernández, 2018).

In accordance with the above, these transformations also have an impact on the
organizational vision of the world, which is why globalization also involves integrations of
different types, for example: regional, such as the North American trade blocs or the
European Union, and even trade agreements or the creation of international organizations
such as the United Nations (UN), the Inter-American Development Bank (IDB), among
others, in other words, “globalization constitutes the broadest process of
internationalization that the world has ever experienced. ”. (Dabat, Hernández and Vega,
2015, p. 68).

In this order of ideas, the current market conditions essentially include companies, so that
the search for new alternatives for their growth involves the need to position themselves in
foreign markets as an important factor for competitiveness and global vision. , as stated by
Welch and Luostarinen (1993) about internationalization as “the set of operations that
facilitate the establishment of links between the company and international markets,
throughout a growing process of international involvement and projection.” (Cited in
Araque and Arguello, 2015, p. 37). The above is also related to what was mentioned by
Zúñiga, Espinoza, Campos, Tapia, and Muñoz (2016) when they affirm that global markets
are the result of internationalization, since they define this process “as the participation of
companies in the international trade, on a larger scale, considering the requirements of the
market constituted in its destination.”

Business internationalization can take place in different regions, as is the case of Latin
America. This region is characterized by having experienced important changes in recent
decades, although towards the nineties, as stated by the Food and Agriculture Organization-
FAO (2013), after the economic liberalization of these countries, a
significant increase in global competitiveness (cited in Bianchi, Mingo and Fernández,
2018), with the high prices of natural resources and the strength of extractive activities
being the drivers of this growth (Bianchi, Mingo and Fernández, 2018).

Now, the internationalization of companies in Latin America must be seen from the point
of view of the growth of their economies, considering the development of aspects such as
foreign direct investment, the flow of imports and exports and the creation of companies.
in the region. However, “in the studies and compilations carried out it is evident that some
of the successful Latin American companies are those that, before entering international
markets, have competed successfully in their local markets, protected by strong government
intervention and using domestic infrastructure” (Ochoa, Correa and Atehortúa, 2017, p.
424)

Therefore, it is necessary to highlight that the internationalization of Latin American


companies is a starting point to focus our gaze on Colombia, since the country has managed
to achieve increases in foreign direct investment year after year. According to figures from
ECLAC (2019), in 2018, the five countries with the highest investments were Brazil (48%
of the total), Mexico (20%), Argentina (6%), Colombia (6%) and Panama (4% ).

In addition, recent years have been characterized by being able to boost the exportable
supply by including products other than commodities, thereby expanding commercial
opportunities to new foreign markets. In addition to the above, internationalization
processes in the Colombian case are large companies such as Cementos Argos, Grupo
Nutresa, among others, which focus their efforts on competing even with foreigners and
positioning themselves internationally (Ochoa, Correa and Atehortúa, 2017).

Likewise, the business fabric that is located in the different regions of the country also
includes cities like Barranquilla, where business internationalization is a challenge to be
faced by those companies that are seeking to expand in order to take advantage of the
advantages of being a city with a strategic position in Colombia, from which the current
treaties and agreements in international trade must also be taken advantage of, so that they
expand the possibility of entering important markets with partners such as the Pacific
Alliance, the United States and the European Union, among others.

5 Problem Formulation

Given the previous scenario, it is relevant to investigate the SMEs in the manufacturing
sector in the city of Barranquilla as an object of study for this work, considering it
important to answer the following question: What are the strategies that SMEs in the
manufacturing sector should implement in the city of Barranquilla to favor the
internationalization process?

Systematization of the problem.

What are the internal factors that affect the internationalization process of SMEs in the
manufacturing sector in the city of Barranquilla?
What are the external factors of the internationalization process that influence the
internationalization process of SMEs in the manufacturing sector in the city of
Barranquilla?
According to the internationalization process, at what stage of the Uppsala model are the
internal and external factors associated with SMEs in the manufacturing sector in the city of
Barranquilla?

Aim

Characterize the internal factors according to the internationalization process of SMEs in


the manufacturing sector in the city of Barranquilla.
Analyze the external factors of SMEs in the manufacturing sector in the city of
Barranquilla.
Compare the internationalization process based on the stages of the Uppsala model with the
internal and external factors of SMEs in the manufacturing sector in the city of
Barranquilla.

Conceptual framework

Business internationalization

Internationalization is the way in which the company plans each of its activities partially or
completely towards the international context and manages its profits in different countries
and different areas (Araya, 2009).

Similarly, Villarreal (2005, p.58) alludes to dynamic characteristics of the process when he
defines it as:

“…corporate growth strategy through international geographical diversification, through a


long-term evolutionary and dynamic process that gradually affects the different activities of
the value chain and the organizational structure of the company, with a growing
commitment and involvement of its resources and capabilities with the international
environment, and based on augmentative knowledge.”

Welch and Luostarinen (1993) refer to internationalization as “the set of operations that
facilitate the establishment of links between the company and international markets,
throughout a growing process of international involvement and projection” (Cited in
Araque and Arguello, 2015, p. 37).

Methodological framework
Type of study and research design

The present research work is of an analytical type which consists, according to Bungue
(1981), of “understanding situations in terms of the relationships of their components”,
(Cited in Hurtado de Barrera, 2010 page 103), reinterpreting what is analyzed based on
some criteria, depending on the analysis objectives. Try to identify the less obvious
synergies of the events analyzed. In the analytical type of research, the result is the
identification of hidden aspects that cannot be reached with a mere description. (Hurtado de
Barrera, 2010, page 104).
Additionally, it is established that the research design will be carried out with secondary
sources, that is, a documentary or non-experimental design, specifically from studies and
reports carried out on SMEs in the manufacturing sector, as the object of study of this work.
The above implies a search process and subsequent analysis and interpretation of the
information recovered from said secondary sources.

Operational definitions

Information sources.

Once the methodological framework of this degree work has been defined for the
exploration of literature that allows us to have the theoretical-conceptual construct referring
to internationalization and companies, the technique of documentary review in secondary
scientific sources and reliable information platforms is used (Rojas , 2011), for the
development of the degree project, (78) sources were consulted, including books and
scientific articles related to the line and topic of research; Consequently, the information
documentation analysis technique was also carried out, so that those studies and reports that
address the period of this work between the years 2014 and 2019 were established as search
parameters, and in turn, that included the manufacturing sector in the city of Barranquilla
and the SMEs in said sector, all of this taking into account the achievement of the
objectives set at the beginning of the research and the approaches of the theory addressed in
the referential and conceptual frameworks, referring to the internationalization process.

of SMEs, internal and external factors, and the stages of the internationalization model.

Likewise, for the reference framework and conceptual framework, the specialized
consultation databases of the Universidad de la Costa CUC and open databases such as
Scopus, Google Academic, Dialnet, Science Direct, Academia.edu, Association entity
bases were accessed. National Financial Institutions ANIF, Economic Commission for
Latin America and the Caribbean ECLAC, International Monetary Fund, Emerald, Redalyc,
Scielo, Springer, Web of Science.
The study population was made up of a total of 12 reports carried out in the manufacturing
sector of SMEs in Colombia, and in some cases specifically in Barranquilla. Next, and due
to the quantity, these reports were taken as a sample in which 19 aspects referring to
internal factors, external factors and the internationalization process were considered and
extracted.

Consequently, an information registration matrix was established as an instrument for data


collection (see table 1), which includes the recovered document.

Results

This research work is based on the analysis of the internationalization process of SMEs in
the manufacturing sector in the city of Barranquilla, focused mainly on the internal and
external factors that affect it from the perspective of one of the existing internationalization
models, with the in order to suggest strategic actions that favor this process.
In the same order of ideas, the aspects to be taken into account for the internationalization
process were obtained from studies and reports recovered from the secondary sources
described above.

1. Self-assessment: It is important to know in the first instance what step of the process the
company is in, whether it has a lot or little knowledge about internationalization. The above
is related to sales and costs and production capacity, as determinants to initiate activities
with a view to international markets.

2. Identification of its internal and external factors: Understand from the beginning that
it is a gradual and long process which must be cultivated from the appropriation and
generation of a corporate culture oriented towards the commitment and willingness of all
the company's actors and resources to Support internationalization requirements and
initiatives until the transformation of your products and/or services which are competitive
and innovative in the market.

3. Identification of your target market: Knowing the market you intend to enter is
essential to promote internationalization, because knowledge and understanding of it can
reduce the probabilities of failure and the risks in the implementation of your products
internationally. In turn, market conditions such as cultural, legal, social and even

Policies must be considered taking into account that it is part of an aspect specific to the
sector which would allow for a broader view or panorama of the market to be addressed.
Likewise, it is pertinent that the business model considers segmentation according to the
type of market because this would allow it to identify the needs of its clients and consumers
in order to satisfy them through the materialization and production of a product and/or
service. .

4. Export plan: It is essential and necessary to have an Export plan considering that this
provides a general overview of the goals and objectives in order to establish a path towards
internationalization. Likewise, it provides control in the efficient administration of its
resources and the measurement of progress during the development of the business abroad.

5. Strategies related to marketing: This step will allow the exporter to take into account
and highlight their product beyond having added value and present it with a differentiating
element, considering whether to evaluate it in a way that responds to a need or potential
interest. Also considering the adaptation or standardization of the product depending on the
product.

6. Network of contacts: Having allies and joining entities or trade associations allows you
to exploit business opportunities which are defined by the benefits, that is, the quality, of
the information provided by each of the members of the contact network that you obtain.
the company given that, when companies internationalize, they create and develop business
relationships with their counterparts in foreign countries. Therefore, the way to promote
and take advantage of contact networks is

It can be exemplified through strategies such as attending international fairs, business


conferences, seminars, forums, using benchmarking techniques to learn about the
competition, among others, but related to the interaction of people and/or companies within
the sector.

7. Development of foreign trade logistics: As a fundamental aspect of the


internationalization process, the tariff part of the product, its classification, barriers to
export, taxes, among others, as well as the transportation, logistics and system must be
taken into account. communication.

8. Other related strategic actions: experience on the part of the company's managers in
foreign trade, search for financing or incentives to carry out internationalization activities.
In turn, within this type of strategies, the implementation and development of everything
mentioned in the previous seven points must be considered, adding the cultural component
as a key piece for internationalization activities. Finally, the investment and development of
technology in line with the export
activity of the SME

Conclusions

According to the analysis carried out, the findings obtained allowed us to comply with what
was established in the specific objectives of the research, starting with the characterization
of the internal and external factors of the internationalization process of SMEs in the
manufacturing sector in the city of Barranquilla, It became evident that the studies carried
out by entities to analyze SMEs by sector focus mainly on internal factors (general
economic situation of the company, sales, production costs, financing, exports,
internationalization plan, reasons why SMEs do not export, markets with greater
participation, challenges to expand sales, logistics costs, investment) which are commonly
found in companies and only on some occasions do they tend to highlight specific
situations year after year of what happens in the sector. For this reason, the resulting
information becomes figures that do not provide a greater differential and because of this,
SMEs in the manufacturing sector continue to work in the same way. In this context, they
must consider other aspects or internal factors of the company related to the experience or
knowledge of those who manage or evaluate the level of leadership, as well as the capacity
for association with other SMEs belonging to the sector or union to strengthen their
networks. and facilitate their operations in international markets.

In accordance with the above, one of the findings within the aspects or factors of the
internal internationalization process, such as sales and production costs, constitute
determinants for the start of activity in international markets because the reduction in their
production costs allow an increase in profits, offering a great advantage over the market;
however, in the case of SMEs in the manufacturing sector, this can become a brake that
paralyzes this type of company in the sector given the high

cost of the operation. However, that company that recognizes what its capabilities are from
the beginning and what its potential is to achieve its objective of internationalization will
know how to take considerable advantage of this, increasing its productivity and
competitiveness and will take actions to strengthen each of the stages of the process as it
progresses. advancing until it achieves its positioning abroad.

In the same order of ideas, entrepreneurs consider that major transformations are required
to their products so that they are showing uncertainty regarding their economic activity and
this aspect in particular limits them even if they have internationalization plans and even
the knowledge and experience in going beyond. It is for this reason that the strategies and
actions that are guided during the internationalization process are linked to the innovation
of its products and the capacity for adaptation or standardization when launching it into
new markets.

Consequently, there is no single theory or model of business internationalization that can be


adjusted to the manufacturing sector of SMEs in Barranquilla in a general way, given that
the nature of each small or medium-sized company, the dynamism of the markets, the
factors that can apply For some and not others, they make each case become, in a particular
way, a recognition of their potential and capabilities.

Finally, beyond the existence of an internationalization plan, a well-developed strategy or a


guide to follow SMEs in the manufacturing sector in Barranquilla, it is suggested to carry
out a deep immersion in all areas that address the process assuming that it occurs in a
gradual and gradual, but especially requires appropriation by entrepreneurs in the work they
are carrying out with their small or medium-sized business.

References
Acedo, F.J. (2003). Los factores subjetivos e institucionales en el proceso de
internacionalización de las empresas. (Tesis Doctoral Inédita). Universidad de Sevilla,
Sevilla.
Acopi (2017). Informe de Resultados Encuesta de Desempeño Empresarial 4to. Trimestre
de 2017.
Acopi (2018). Informe de Resultados Encuesta de Desempeño Empresarial 4to. Trimestre
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