THE ROLE OF SOCIAL AND BUSINESS NETWORKS IN THE INTERNATIONALIZATION OF BORN GLOBAL FIRMS: EVIDENCE FROM SERBIA

Purpose - This paper examines the specifics of born global firms from a post-transitional European country with regard to the role of social and business networks in the internationalization process. Design/Methodology/Approach - Given that born global firms are an emerging phenomenon in South-Eastern Europe, the research method was a case study. Four cases were judgmentally chosen for the analysis. Literal and theoretical replication was applied. Findings and implications - Regarding the role which social and business networks play in starting and stimulating the internationalization in post-transitional countries, the results indicate similar patterns of this contemporary phenomenon to those in developed countries. The main implications for entrepreneurs and policy makers may be found in the area of fostering cooperation between small firms and enhancing their personal and business interactions through the development of industrial/technology parks, industrial clusters, and business incubators. Limitations - The results have to be taken with some reservations due to a small number of firms examined and the fact that a half of them are from the information technology industry. Originality - The study contributes to the research of the born global phenomenon by addressing the issue in the South-Eastern European region, where it has not been widely investigated, especially in the context of a country with a socialist heritage.