Informing Policy on SME Internationalization Essays

Informing Policy on SME Internationalization Essays Informing Policy on SME Internationalization Essay Informing Policy on SME Internationalization Essay Executive Summary This report is being prepared for the Irish minister for jobs, enterprise and innovation; Mr. Richard Bruton T.D. The basic purpose for preparing this report is to propose different policies regarding the internationalization of the Irish SMEs for the period 2015- 2020. Additionally the report also provides the successful means of implementing those policies, besides presenting the benefits and the performance indicators of the proposed policies. In Ireland, programmes to encourage SME internationalization have conventionally been emphasized on exports promotion and generally evolved separately from other policies. Studies have demonstrated that the government encouragement measures founded on building competencies and encouraged by consultants generate an extreme level of additionality: a significant amount of SMEs in such schemes would not have globalised without the support by the government. Definitely, internationalization is really different today as compared to the olden times. The different policies regarding the internationalization of Irish SMEs which are being proposed by the report include the policy of export/import, joint ventures and strategic alliances and foreign direct investment. A lot of SMSs initiate by importing goods from overseas suppliers and merely initiate exporting in reaction to intermittent requirements and demands. The impact of the export/import policy will not merely be reflected in the trade strategies embraced by the Irish government, but also by the extensive macroeconomic surroundings like the state of the global economy and the export/import policy will assist the Irish SMEs in reacting rapidly to the global market changes. Another means for the Irish SMEs to globalize is through joint ventures and strategic alliances. The impact of the joint ventures and strategic alliances can be assessed fundamentally through the financial indicators. Joint ventures will help Irish SMEs with