Course content
As business becomes increasingly international due to deepening global interconnectedness—driven by technology, trade, and the movement of people, capital, and ideas—firms of all sizes are navigating both exciting opportunities and complex challenges.
Small and medium-sized enterprises (SMEs) are no exception. Representing the backbone of most economies worldwide, SMEs have seen a surge in international activity, enabled by the accelerating pace of globalization, digital transformation, and the rise of global value chains. Today, more SMEs are leveraging digital tools, international partnerships, and niche market opportunities to expand beyond domestic borders, often in ways that are agile, innovative, and sustainability-oriented.
SMEs are no longer viewed merely as scaled-down versions of large firms. Rather, they are increasingly recognized as distinct organizational actors with unique resource constraints, innovation capabilities, governance structures, and strategic behaviors. In particular, SMEs are at the forefront of responsible leadership, sustainable business practices, and human-centric innovation—especially in sectors where flexibility and rapid adaptation are key competitive advantages.
While globalization introduces intense competitive pressures, it also opens access to new markets, talent, technologies, and finance models. Competing internationally now requires SMEs to adopt global mindsets, build cross-border networks, and integrate entrepreneurial agility with strategic foresight. Success often depends on their ability to navigate shifting geopolitical landscapes, trade regulations, and sustainability standards, while simultaneously addressing local community and stakeholder needs.
This course aims to equip students with a deep understanding of how international dynamics shape the strategies and operations of SMEs in today’s complex business environment.
We begin by exploring the defining characteristics of SMEs, highlighting their prevalence, economic significance, and evolving role in global markets. We then examine the advantages and challenges SMEs face in their internationalization journeys. The course includes an analysis of various types of SMEs—such as micro-enterprises, high-growth startups, social enterprises, and family-owned businesses—and their distinctive internationalization paths.
We then turn to how SMEs develop, implement, and adapt international strategies in response to a changing global landscape. Drawing on key theories from international business, strategic management, and sustainability, students investigate how SMEs internationalize, why they do so, and how they can design resilient, responsible, and future-oriented strategies. Furthermore, the course focuses on how SMEs balance growth ambitions with sustainability, manage uncertainty, and build competitive advantage across borders.
Special attention is given to how the institutional environment (e.g. trade policies, digital regulations, innovation systems, and sustainability standards), digital platforms, and international networks shape strategic decision-making and SME competitiveness in an increasingly interconnected world.
Session 1: Contextualizing SMEs: Definition, significance & role in sustainable development (+Case method introduction)
Session 2: Ownership & governance: How owner/board heterogeneity shapes internationalization and sustainability orientation
Session 3: Strategic management of SMEs: Balancing growth, resilience, and sustainability challenges
Session 4: Theoretical foundations: Evolution of SME internationalization models and integration of sustainability frameworks (stakeholder theory, ESG, circular economy)
Session 5: Competitive advantages of SMEs: Resilience, flexibility & determinants of internationalization in the sustainability era
Feedback: Project topic proposal due beginning of Week 3 → feedback returned by end of week
Session 6: Internationalization processes: Regional contexts, institutional differences, and sustainability pressures
Session 7: Drivers of sustainable international growth: Human/social capital, board influence, and digital competencies
Session 8: Internationalization strategies: Born Globals, digital natives, and circular business models
Session 9: 21st-century sustainable leadership: Competences for ESG integration, inclusive growth & innovation in SMEs
Session 10: Competitive advantages of international SMEs: Integrating strategy, sustainability, and leadership
See course description in course catalogue