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Industry 4.0 as the Driving Force of SME Internationalisation: A Case of Lithuania

Author

Listed:
  • Kovaitė Kristina

    (Vilnius Gediminas Technical University, Vilnius, Lithuania)

  • Šūmakaris Paulius

    (Vilnius Gediminas Technical University, Vilnius, Lithuania)

  • Stankevičienė Jelena

    (Vilnius Gediminas Technical University, Vilnius, Lithuania)

  • Korsakienė Renata

    (Vilnius Gediminas Technical University, Vilnius, Lithuania)

Abstract

Small and medium-sized enterprises (SMEs) are assumed to be one of the key contributors to the country’s economic growth and social welfare. Thus, their internationalisation appears to be inevitable considering how globalisation processes have changed the rules of competition in recent decades. Smart and digitalised technologies (Internet of Things and Services, etc.) decentralise communication and provide the opportunities for new firms to overcome the barriers of geographical location and access international markets through co-creation business models and changes of the value chains. The paper aims at analysing and disclosing how the fourth industrial revolution (Industry 4.0) influences SME internationalisation. The present study is grounded on the research of extant scientific literature and assessment of experts. The research demonstrates that Industry 4.0 positively influences the internationalisation of SMEs on a number of dimensions. The recommendations for managers and policymakers how to foster internationalisation of SMEs are suggested.

Suggested Citation

  • Kovaitė Kristina & Šūmakaris Paulius & Stankevičienė Jelena & Korsakienė Renata, 2019. "Industry 4.0 as the Driving Force of SME Internationalisation: A Case of Lithuania," Economics and Business, Sciendo, vol. 33(1), pages 192-206, January.
    • Handle: RePEc:vrs:ecobus:v:33:y:2019:i:1:p:192-206:n:14
    DOI: 10.2478/eb-2019-0014
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F61 - International Economics - - Economic Impacts of Globalization - - - Microeconomic Impacts

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