Internationalization and Sustainable Development: Export Market Strategies of Enterprises from Serbia and Germany

Abstract

The study aims at understanding the relationship between a firm's internationalization and its sustainable development by exploring the differences between the export market strategies of enterprises from Serbia and Germany. Considering that the choice of the export market strategy will affect the choice of entry modes and the selection and sequencing of the largest export market(s), the study aims at exploring various export market strategies, ranging from taking small and gradual steps toward the foreign market to being a born-global. Additionally, the study aims at exploring various export and non-export entry modes while addressing the differences between enterprises from emerging and developed countries. Our findings suggest that the country's level of economic development may have a vital role in determining the framework by which enterprises address the local business and the export market strategy. Our findings suggest that enterprises from Serbia (compared to enterprises from Germany) might need some kind of continuous support aimed at capacity-building and expertise development to benefit from the foreign market(s) while contributing significantly to sustainable development.