| Abstract [eng] |
This research study was aimed to analyze born global factors and development barriers in context of high-tech firms. In the first part, high-tech sector, globalization processes and emergency of born global firms were analyzed. For this research were used qualitative analysis in order to gain deeper understanding and knowledge about Lithuanian based born global high-tech companies. In the second part, extensive scientific research data, theoretical analysis, national and international data were used to gain better understanding of research topic and formulating research design and questions. After extensive theoretical analysis several core elements of born global formation factors were found and categorized under internal organizational level factors, external factors and entrepreneurial related factors. Internal and external development barriers were another core part of born global companies. For gaining deeper understanding about research topic internationalization business theories, entry modes and financial tools of born global high-tech sector were included and analyzed. In third part of this project, empirical research was made by using qualitative semi structured in-depth interview. Interviewers were executive company members, consisted of founders, co-founders, CEO and product directors. Results of conducted interviews helped to identify major factors and development barriers in different companies stages. Interviewed companies as well provided insightful informational about company entry modes, financial sources and target markets, which helped to gain fuller picture of Born Global companies creation and development. From internal development barriers perspective, non-financial resources including informational, knowledge transfer, trust and reputation, lack of skilled human resources barriers were among main ones. Cultural distance, effect of COVID-19 pandemic, political and legal were among most important external barriers. Networking and partnerships, professional skills and experience, superior technological products was found as most important internal and entrepreneurial factors of Born global companies. Too small local market size and demand was major external factor for formation of interviewed Born Global companies. Risk diversification across multiple markets was another external factor determined early internationalization of born global companies. High-tech IT service based companies tend to use bootstrapping method, where high-tech hardware based companies used much more diversified financial sources, such as risk capital, angel investors, governmental funding, crowdfunding and bank loans. Majority of interviewed companies selected mixed entry method consisting of direct export and export thought distributors channels. By closing interview, companies shared their future goals and directions in order to have full time spectrum of interviewed companies. The total length of the master thesis is 62 pages excluding the annexes. Eight figures and even tables were created in the thesis. For qualitative semi – structured interview were used 9 open-ended questions including unplanned supplementary questions for specific company case. The total of 6 annexes were added in the thesis which contains the results of from empirical study conducted. |
