Fostering Business Internationalization and Resilience for Business and Companies: Risks and Resilience in Globalization

Abstract

This paper investigates and presents the importance and usefulness of building resilience in business and companies especially during the frequent processes of business internationalization. The paper describes as well the importance and role of fostering resilience as well to mitigate and deal with the possible controlled and uncontrolled risks that may occur and hit companies and business during internationalizing their products and services. The research questions are “how important is business resilience for business and companies?” and “what risks may companies and business face during their business operation and internationalization?” The used research method to fulfill this research started from an initial literature review that was conducted and developed concerning the concepts of this research. As the used method is more qualitative, in order to analyze the mutual connection between business, internationalization and resilience a case study was conducted. The results showed that fostering business resilience needs to start with business resilience model as suggest in the results to mitigate the anticipated and unanticipated risks, some of the highest unanticipated risks are cyber-attacks, geopolitical, nature disaster risks business To sum up, internationalization can be a key to expand the revenue and company’s business but to internationalize, it is important to follow a business resilience model.

Keywords

• globalization
• internationalization
• resilience
• business
• companies
• risk