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

Kovaitė Kristina (), Šūmakaris Paulius (), Stankevičienė Jelena () and Korsakienė Renata ()
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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

Economics and Business, 2019, vol. 33, issue 1, 192-206

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.

Keywords: Business Model; Industry 4.0.; SME Internationalisation; Smart and Interconnected Technologies (search for similar items in EconPapers)
JEL-codes: D81 F23 F61 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecobus:v:33:y:2019:i:1:p:192-206:n:14

DOI: 10.2478/eb-2019-0014

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