Does Being a Member of the Cluster Matter in the Process of Value Creation Through Internationalization?

  • Vesna Sedoglavich
  • Marina Dabić


Small and medium-sized enterprises (SMEs) generally face tough competition in the countries where they are based. The ongoing process of globalization exerts further competitive pressure on value creation in these firms (Audretsch 2003). Value creation spreads over different levels (Lepak et al. 2007). Consequently, in a manner similar to large companies, more and more SMEs face the challenge of searching foreign markets for opportunities, which forces firms to change their strategies rapidly. At the same time, competition among knowledge-based SMEs intensifies, as these firms strive to develop capabilities faster than their rivals (Teece and Pisano 1994), to maximize created values (Jensen 2001), make them sustainable (Ciasullo and Troisi 2013), and increase value creation through mission (Andersen 2014) or by project management practices (Laursen and Svejvig 2016). According Bowman and Ambrosini (2000:13) value creation is determined by:


Foreign Direct Investment Foreign Market Internationalization Process Entry Mode Industrial Cluster 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© The Editor(s) (if applicable) and the Author(s) 2017

Authors and Affiliations

  • Vesna Sedoglavich
    • 1
  • Marina Dabić
    • 2
    • 3
  1. 1.Research School of Management, ANU College of Business and EconomicsAustralian National UniversityActonAustralia
  2. 2.Faculty of Economics and BusinessUniversity of ZagrebZagrebCroatia
  3. 3.Management Division, Nottingham Business SchoolNottingham Trent UniversityNottinghamUK

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