engleski

THE IMPORTANCE OF RESOURCES IN THE INTERNATIONALIZATION STRATEGIES OF CROATIAN FIRMS

Resources and capabilities are considered to be key sources of competitive advantage of a company, but only if they are not possessed by the competition. In order for competitive advantage to be sustainable, it is important that firms invest in continual improvement, i.e. in the education of their staff, modern technology and innovations. Modern business takes place in constantly unpredictable and uncertain conditions, and it is therefore necessary that a company has people ready to adjust to new business climate, and also new technologies to keep up with the competition. New business conditions have made the boundaries between people and information thinner, so many firms opt for entering international markets. Entering the international market represents a huge economic challenge because it requires certain skills and knowledge from the management and the employees. In the forming of export economic strategies, the country decides on the way of realizing its strategic goals with the highest success. The Republic of Croatia has faced some highly demanding political and economic processes and events in the past few years. Fast development of modern technologies and globalization has created conditions for internationalization of businesses in Croatia. Economic success of a country depends on the compatibility of development goals of the country with the goals of the economic strategies. When choosing the strategy for entering international market, companies have to conduct different researches related to the demand for their product or services, and the research on the culture, language and customs of the country where they wish to operate. The empirical research was conducted with the experts in charge with the activities related to the internationalization of companies. Based on the sample of five firms, the conclusion can be made on what strategies Croatian firms choose for entering the international market, and whether they come across any obstacles along the way, and if they do, what the most common obstacles are.

competitive advantage, internationalization of firms, strategies for entering the international market, resource theory

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