Navigating International Markets through Networking Competencies: Insights from a Sri Lankan SME

Abstract

The possibility for small and medium enterprises (SMEs) to grow on a global scale remains largely unexplored, particularly in developing markets. The present study examines the SME internationalization process from the network perspective to comprehend how networking competencies permit the successful internationalization of an IT-based SME. A qualitative approach based on case study methodology was used to conduct this exploratory research. Findings of this case study indicate that IT-based SMEs use three types of networks, namely formal, informal, virtual or digital to gain four main benefits, market access and expansion, resource sharing and collaboration, risk reduction and adaptability, enhanced reputation and credibility. The findings of this case study provide valuable insights for both internationalized and non-internationalized IT-based SMEs in developing countries in improving their networking abilities as a key factor for successful international expansion.