The internationalisation of 'high performing' UK high-tech SMEs: a study of planned and unplanned strategies

This paper discusses the findings from an investigation into the internationalisation strategies of 'high performing' UK high-tech small and medium-sized enterprises. Findings from 12 in-depth interviews suggest that strategy formation is not as systematic as some previous studies, notably those that focus on the 'stage' models, suggest. Management teams anticipate and react to internal and external factors in various ways; this affects the way in which opportunity recognition and exploitation takes place. This ranges from planned strategy formation through to opportunistic behaviour. The results suggest that while support for certain existing theories namely the resource based view, networking, and contingency factors was evident, no single theory could fully explain entrepreneurial decisions. In particular, 'serendipity' as part of the contingency view may be an under researched area. The findings support the literature that has suggested a more holistic view should be undertaken in international entrepreneurship research. (c) 2004 Elsevier Ltd. All rights reserved.