TEORÍA INSTITUCIONAL Y PROCESO DE INTERNACIONALIZACIÓN DE LAS EMPRESAS COLOMBIANAS (Article published in Spanish)

Abstract

The increasing liberalization of the world´s economies, together with the establishment of numerous free trade areas, have brought about fundamental changes in organizational structure. More and more firms are now operating internationally, or at least feel the need to do so. Abundant effort has gone into researching the theoretical aspects of the various models firms may follow in the course of their international development. Nonetheless, most authors have focused on how firms should globalize, once the decision to do so has been taken, rather than examining the various factors underlying this decision. This research bias has proved especially troublesome for small and medium enterprises, in which few decisions are as momentous as the one to expand beyond one´s borders. This study investigates the globalization of firms from the perspective of institucional theory. The theory suggests that outside pressure, questions as to the legitimacy of such pressure, and the problems posed by what might be called collective wisdom profoundly affect decision makers as they struggle with the option of going global. This line of research is of considerable relevance not only to managers but also to those responsible for the implementation of government strategy. Such individuals must have a thorough understanding both of the expected benefits and of the various programs that seek to provide incentives to those reaching out to foreign markets. The design of such programs and strategies must take into account the various factors that promote organizational development once the decision to go global has been taken. This article is part of a broader study that examines the various factors influencing the why, where and how of globalization, once the decision to move in that direction has been taken in small and medium enterprises.