The answers to the following questions should be discursive, essay-type answers of approximately 1,000-1,200 words each. Harvard references. Maximum words 5,000 (excluding appendices)

1. Identify and discuss at least five of the challenges faced by small and medium-sized companies when attempting to expand internationally. In addition, identify and discuss some of the ways in which these challenges can be addressed. Ensure you provide well-developed examples to illustrate the points in your answer.
2. Critically discuss the role of psychic distance in the process of companies’ internationalisation. Provide well-developed examples to illustrate your advanced understanding of the concept of psychic distance in applied circumstances.
3. Provide an in-depth critical review of the considerations relevant to the choice of mode for foreign market entry and illustrate your answer with well-developed examples.

Starting reading list for the question topics:

Cheng, Y.-M. (2006) ‘Determinants of FDI mode choice: acquisition, brownfield, and greenfield entry in foreign markets’, Canadian Journal of Administrative Sciences/Revue Canadienne des Sciences de l’Administration, 23(3), pp. 202–220.

Child, J., Ng, S. H. and Wong, C. (2002) ‘Psychic Distance and Internationalization: Evidence from Hong Kong Firms’, International Studies of Management & Organization, 32(1), pp. 36–56. doi:10.1080/00208825.2002.11043656.

Clercq, D. D., Sapienza, H. J. and Crijns, H. (2005) ‘The Internationalization of Small and Medium-Sized Firms’, Small Business Economics, 24(4), pp. 409–419. doi:10.1007/s11187-005-5333-x.

Dev, C. S., Brown, J. R. and Zhou, K. Z. (2007) ‘Global Brand Expansion How to Select a Market Entry Strategy’, Cornell Hotel and Restaurant Administration Quarterly, 48(1), pp. 13–27. doi:10.1177/0010880406294472.

Gallego, M. Á. et al. (2009) ‘The relationship between timing of entry into a foreign market, entry mode decision and market selection’, Time & Society, 18(2–3), pp. 306–331. doi:10.1177/0961463X09337843.

Holmlund, M. and Kock, S. (1998) ‘Relationships and the Internationalisation of Finnish Small and Medium-Sized Companies’, International Small Business Journal, 16(4), pp. 46–63. doi:10.1177/0266242698164003.

Nizielska, A. (2013) ‘The role of psychic distance in the process of companies internationalization – review of research results’, Journal of Economics and Management, 13, pp. 86–99.

O’Grady, S. and Lane, H. W. (1996) ‘The Psychic Distance Paradox’, Journal of International Business Studies, 27(2), pp. 309–333. doi:10.1057/palgrave.jibs.8490137.

Wright, M., Westhead, P. and Ucbasaran, D. (2007) ‘Internationalization of Small and Medium-sized Enterprises (SMEs) and International Entrepreneurship: A Critique and Policy Implications’, Regional Studies, 41(7), pp. 1013–1030. doi:10.1080/00343400601120288.

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