英语论文网

For our part, we would argue that other important theories mentioned in this article, such as membership in large business groups, social embeddedness, and absorptive capacity, also need to be properly integrated into any general theory of internationalization. The need for further work is all the more urgent as we see new firms (such as Chinese SMEs) entering international markets from their home base in emerging economies. The unique competitive advantages associated with guanxi make it possible, despite limited company resources, for Chinese SMEs to select, enter, and compete in geographically distant markets (such as Canada and South Africa) in a way that current theory would not predict. Furthermore, our findings call attention to the shortcomings of psychic distance theory. The unique competitive advantages associated with guanxi make it possible, despite limited company resources, for Chinese SMEs to select, enter, and compete in geographically distant markets (such as Canada and South Africa) in a way that current theory would not predict.

Moreover, PD theory does not adequately encompass the workings of guanxi, either as a compensatory factor for lack of market knowledge and prior experience or as a means of reducing uncertainty in decision making. Elango and Pattnaik (2007) concur with our conclusion, stating that further research is needed into how members of networks and business groups choose their overseas customers and markets, and how they build global market portfolios. A theoretical “missing link” here appears to be the unseen workings of guanxi and business networks. Finally, we would argue that learning theory needs to be revisited in the context of the internationalization of the firm. Social networks must be properly recognized as primary sources of information, rapid learning, and vicarious knowledge. Once again, we are supported by Elango and Pattnaik (2007, p. 552), who recommend that “future researchers may want to look into how firms within and network transfer learning (i.e., internationalization knowledge: Eriksson et al., 1997) to other members. . . [because] it is still not evident what formal or informal mechanisms are used for transfer of learning” (emphases added).

Blueprint for Future Development

The first 10 to 20 years of this century present China with an important strategic window of opportunity for development. It goes without saying that we are also facing many challenges. For instance, with the accession to the WTO, China is faced with growing pressure from international competition. China's enterprises have to cope with fiercer competition not only at international market, but at home market as well. Nevertheless, opening the country to the outside world is China's basic and long-term state policy. China is committed to opening still wider to the outside world in an all-directional and multi-tiered way, with an even more active approach.

沪ICP备10026080号-1