IDEAS home Printed from https://ideas.repec.org/a/kap/jinten/v21y2023i4d10.1007_s10843-024-00348-7.html
   My bibliography  Save this article

The need for strategic redirection and business model change: The impact of evolving influential forces of change on international entrepreneurship environment

Author

Listed:
  • Hamid Etemad

    (McGill University)

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.

Suggested Citation

  • Hamid Etemad, 2023. "The need for strategic redirection and business model change: The impact of evolving influential forces of change on international entrepreneurship environment," Journal of International Entrepreneurship, Springer, vol. 21(4), pages 441-463, December.
    • Handle: RePEc:kap:jinten:v:21:y:2023:i:4:d:10.1007_s10843-024-00348-7
    DOI: 10.1007/s10843-024-00348-7
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10843-024-00348-7
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10843-024-00348-7?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ben Spigel, 2017. "The Relational Organization of Entrepreneurial Ecosystems," Entrepreneurship Theory and Practice, , vol. 41(1), pages 49-72, January.
    2. Christina Theodoraki & Karim Messeghem, 2017. "Exploring the entrepreneurial ecosystem in the field of entrepreneurial support: a multi-level approach," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 31(1), pages 47-66.
    3. Colin G Ash & Janice M Burn, 2003. "Assessing the benefits from e-business transformation through effective enterprise management," European Journal of Information Systems, Taylor & Francis Journals, vol. 12(4), pages 297-308, December.
    4. Hamid Etemad, 2020. "Managing uncertain consequences of a global crisis: SMEs encountering adversities, losses, and new opportunities," Journal of International Entrepreneurship, Springer, vol. 18(2), pages 125-144, June.
    5. Hamid Etemad, 2018. "Early strategic heritage: The carryover effect on entrepreneurial firm’s life cycle," Journal of International Entrepreneurship, Springer, vol. 16(4), pages 441-455, December.
    6. Andreu Blesa-Pérez & María Ripollés-Meliá & Alex Rialp-Criado & Josep Rialp-Criado, 2023. "Introduction to the special issue: Digitalisation and servitisation in international entrepreneurship," Journal of International Entrepreneurship, Springer, vol. 21(2), pages 150-156, June.
    7. F.C. Stam & Ben Spigel, 2016. "Entrepreneurial Ecosystems," Working Papers 16-13, Utrecht School of Economics.
    8. David J. Teece, 2007. "Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance," Strategic Management Journal, Wiley Blackwell, vol. 28(13), pages 1319-1350, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hamid Etemad, 2023. "The increasing prevalence of multi-sided online platforms and their influence on international entrepreneurship: The rapid transformation of entrepreneurial digital ecosystems," Journal of International Entrepreneurship, Springer, vol. 21(1), pages 1-30, March.
    2. Laurence Cloutier & Karim Messeghem, 2022. "Whirlwind model of entrepreneurial ecosystem path dependence," Small Business Economics, Springer, vol. 59(2), pages 611-625, August.
    3. Angelo Cavallo & Antonio Ghezzi & Raffaello Balocco, 2019. "Entrepreneurial ecosystem research: present debates and future directions," International Entrepreneurship and Management Journal, Springer, vol. 15(4), pages 1291-1321, December.
    4. Xiangfei Yuan & Haijing Hao & Chenghua Guan & Alex Pentland, 2022. "Which factors affect the performance of technology business incubators in China? An entrepreneurial ecosystem perspective," PLOS ONE, Public Library of Science, vol. 17(1), pages 1-20, January.
    5. Christina Theodoraki & Alexis Catanzaro, 2022. "Widening the borders of entrepreneurial ecosystem through the international lens," The Journal of Technology Transfer, Springer, vol. 47(2), pages 383-406, April.
    6. Gomes, Leonardo Augusto de Vasconcelos & Flechas, Ximena Alejandra & Facin, Ana Lucia Figueiredo & Borini, Felipe Mendes, 2021. "Ecosystem management: Past achievements and future promises," Technological Forecasting and Social Change, Elsevier, vol. 171(C).
    7. Xiangfei Yuan & Haijing Hao & Chenghua Guan & Alex Pentland, 2021. "What are the key components of an entrepreneurial ecosystem in a developing economy? A longitudinal empirical study on technology business incubators in China," Papers 2103.08131, arXiv.org.
    8. Reis, Germano Glufke & Villar, Eduardo Guedes & Prado Gimenez, Fernando Antonio & Maiolino Molento, Carla Forte & Ferri, Priscila, 2022. "The interplay of entrepreneurial ecosystems and global value chains: Insights from the cultivated meat entrepreneurial ecosystem of Singapore," Technology in Society, Elsevier, vol. 71(C).
    9. Clavis Nwehfor Fubah & Menisha Moos, 2022. "Exploring COVID-19 Challenges and Coping Mechanisms for SMEs in the South African Entrepreneurial Ecosystem," Sustainability, MDPI, vol. 14(4), pages 1-20, February.
    10. Grégory Guéneau & Didier Chabaud & Marie-Christine Chalus Sauvannet, 2022. "Opening entrepreneurial ecosystem’s black box: the power of networks in African low-income countries," International Entrepreneurship and Management Journal, Springer, vol. 18(2), pages 753-772, June.
    11. Makaya, Christian & Blanco, Cristina & Barrédy, Céline, 2023. "Towards an ecological approach for interaction management in entrepreneurship courses," Journal of Business Research, Elsevier, vol. 160(C).
    12. Dionisio, Eduardo Avancci & Inácio Júnior, Edmundo & Fischer, Bruno Brandão, 2021. "Country-level efficiency and the index of dynamic entrepreneurship: Contributions from an efficiency approach," Technological Forecasting and Social Change, Elsevier, vol. 162(C).
    13. Hernández-Chea, Roberto & Mahdad, Maral & Minh, Thai Thi & Hjortsø, Carsten Nico, 2021. "Moving beyond intermediation: How intermediary organizations shape collaboration dynamics in entrepreneurial ecosystems," Technovation, Elsevier, vol. 108(C).
    14. Maksim Belitski & Ana-Maria Grigore & Anca Bratu, 2021. "Political entrepreneurship: entrepreneurship ecosystem perspective," International Entrepreneurship and Management Journal, Springer, vol. 17(4), pages 1973-2004, December.
    15. Kamran Hameed & Noman Arshed & Kenneth A. Grant & Mubbasher Munir & Osama Aziz, 2023. "Forces of Dynamic Capability and Incidence of Entrepreneurship: A Macroeconomic Policy Intervention Approach," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(4), pages 3573-3597, December.
    16. Elisa Villani & Christian Lechner, 2019. "The emergence of an innovation ecosystem in a low innovation region: Disrupting inertia by a young university," BEMPS - Bozen Economics & Management Paper Series BEMPS63, Faculty of Economics and Management at the Free University of Bozen.
    17. Hamid Etemad, 2021. "Influential factors in internationalization of family firms, socially and innovatively oriented firms, and effective international activities in global E-markets," Journal of International Entrepreneurship, Springer, vol. 19(4), pages 469-478, December.
    18. Hamid Etemad, 2023. "The emerging new architecture in international entrepreneurship: Dynamic impacts of business models transformation favoring accelerated internationalization of smaller enterprises," Journal of International Entrepreneurship, Springer, vol. 21(3), pages 271-300, September.
    19. Sivert Hammer & Tore Frimanslund, 2022. "Lessons from a rural ecosystem," Local Economy, London South Bank University, vol. 37(5), pages 348-363, August.
    20. Shi, Xianwei & Liang, Xingkun & Luo, Yining, 2023. "Unpacking the intellectual structure of ecosystem research in innovation studies," Research Policy, Elsevier, vol. 52(6).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jinten:v:21:y:2023:i:4:d:10.1007_s10843-024-00348-7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.