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The Brexit dilemma for small business: European companies respond

The Brexit dilemma for small business: European companies respond Focusing on the internationalization decisions of firms, this paper aims to investigate how managers of small and medium-sized enterprises (SMEs) interpret and respond to exogenous shocks in their international sales markets. The authors specifically explore the effects of cognitive factors on French SME managers’ strategic decisions in response to the UK’s decision to leave the EU.Design/methodology/approachThe research applies insights gleaned from the field of behavioral strategy, brought to life with illustrative examples of SME managers’ perceptions of Brexit derived from secondary and primary data sources.FindingsThe authors find that a combination of decision-makers’ previous experience and emotions can help account for their interpretations and strategic responses to Brexit.Practical implicationsThe research highlights the need for managers to be more aware of how their personal characteristics can influence their mindsets and shape how they choose to respond to uncertain and ambiguous developments in foreign markets.Originality/valueThe research exposes important, behavioral dimensions of decision-making, which remain under-explored in the existing international business literature. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Business Strategy Emerald Publishing

The Brexit dilemma for small business: European companies respond

Journal of Business Strategy , Volume 42 (3): 10 – May 26, 2021

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References (13)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
0275-6668
eISSN
0275-6668
DOI
10.1108/jbs-11-2019-0223
Publisher site
See Article on Publisher Site

Abstract

Focusing on the internationalization decisions of firms, this paper aims to investigate how managers of small and medium-sized enterprises (SMEs) interpret and respond to exogenous shocks in their international sales markets. The authors specifically explore the effects of cognitive factors on French SME managers’ strategic decisions in response to the UK’s decision to leave the EU.Design/methodology/approachThe research applies insights gleaned from the field of behavioral strategy, brought to life with illustrative examples of SME managers’ perceptions of Brexit derived from secondary and primary data sources.FindingsThe authors find that a combination of decision-makers’ previous experience and emotions can help account for their interpretations and strategic responses to Brexit.Practical implicationsThe research highlights the need for managers to be more aware of how their personal characteristics can influence their mindsets and shape how they choose to respond to uncertain and ambiguous developments in foreign markets.Originality/valueThe research exposes important, behavioral dimensions of decision-making, which remain under-explored in the existing international business literature.

Journal

Journal of Business StrategyEmerald Publishing

Published: May 26, 2021

Keywords: Emotions; Decision making; Internationalization; Managerial cognition; Brexit; Behavioral strategy; Small and medium-sized enterprises

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