International experience of business internationalization in the knowledge economy

Martyniak, Iryna

Bakushevych, Ivanna

Ternopil Ivan Puluj National Technical University, 56 Ruska str., 46001, Ternopil, Ukraine

Martyniak, I. & Bakushevych, I. (2021) Mizhnarodnyi dosvid internatsionalizatsii biznesu v umovakh ekonomiky znan [International experience of business internationalization in the knowledge economy]. Sotsialno-ekonomichni problemy i derzhava [Socio-Economic Problems and the State] (electronic journal), Vol. 25, no. 2, pp. 564-574. Available at: http://sepd.tntu.edu.ua/images/stories/pdf/2021/21miouez.pdf

Socio-Economic Problems and the State

2(25)

Nov-2021

Oct-2021

24-Sep-2022

Ternopil Ivan Puluj National Technical University

UA

Ternopil

https://orcid.org/0000-0003-0224-6410
https://orcid.org/0000-0001-8978-6609

https://doi.org/10.33108/sepd2022.02.564

330:339

F23
O1

internationalization
cluster
knowledge economy
support institutions

11

564-574

564

574

Business global competitiveness formation and its entry into international markets are necessary for achieving sustainable economic development. Features of the business environment in a knowledge economy are the development and diffusion of innovations. Doing business internationalization requires the appropriate institutions development, depending on environmental factors, that may have different functions and use a wide range of government support tools. The world top economies built national strategies to ensure the internationalization of business processes. It is determined that state institutions can use a wide range of internationalization promoting tools. In particular: clustering policies for stimulating the development of the environment conducive to innovation as a source of competitiveness in international markets; development of the country's business environment aimed at attracting foreign venture capital to finance startups; creating conditions for increasing the number of the country business residents by removing entry barriers, including stimulating the development of e-commerce; promoting networking between national and international businesses. Clusters are considered to be the accelerators of economic cooperation for innovative product promotion. These are the focus of the world's leading countries policies (EU, Japan, and South Korea). The combination within the Finnish clusters of SMEs and TNCs allows accelerating the processes of business internationalization in the knowledge economy. The national institutional sector of most EU countries consists of ministries, GO or NGO, whose jurisdiction includes stimulating the development of innovative firms and foreign economic activity. In economies with a high level of protectionism (Japan, China, South Korea), a significant role passes to the state ministries, which have developed a wide range of tools for the state strategic priorities implementation. The business internationalization tools of the Ministry of Knowledge Economy of South Korea in comparison with the Ukrainian experience are detailed.

http://elartu.tntu.edu.ua/handle/lib/38796

2223-3822

Scientific Journal "Socio-Economic Problems and the State"

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https://business.diia.gov.ua/strategicni-cili

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Article

Scientific Journal "Socio-Economic Problems and the State" Vol 2(25)