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RESEARCH PRODUCT

THE INTERNATIONALIZATION OF SMES. A SYNTHETIC ANALYSIS OF THE DECISIONAL FACTORS AND PROCESS

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Having an increased complexity, the internationalization process of small and medium- sized enterprises (SMEs) becomes, in the context of globalization and of the freedom of circulation of goods, services, and capital, a decisive factor of both the evolution of the company and the economic force distribution report on the market. The evolution of the world economic system opened a wide action field for small and medium sized companies, who had to adapt to new rules. The internationalization of SMEs is no longer an option, but it becomes a condition of their existence. A high importance in this process belongs to the way decisions are made, both regarding the target market and the entry option, the way entry barriers are overcome and the promotional techniques in this extended business environment. A synthetic analysis of the decisional factors and process is needed in order to fully and correctly understand the internationalization strategies adopted by SMEs. This paper is built around three major objectives, with the scope of determining the SMEs’ internationalization decisions, as well s the impediments met in the process. The paper contributes to the literature in the field of the internationalization of SMEs through the analysis and interpretation of the results acquired during the study regarding their behavior towards the activity expansion on international markets.