International entrepreneurship and the role of stakeholders

This chapter offers new insights into the performance-enhancing role of selected stakeholders in facilitating the international entrepreneurial strategies of Ghanaian firms by helping decision-makers to overcome limitations regarding resources/capabilities and adapting to the requirements of particular markets. Using survey data from 116 internationalising Ghanaian businesses, limited statistics differences featured among the exporting firms’ adaptation practices in the respective three trade sectors under investigation. Qualitative insights from 18 follow-up interviews among decision makers in exporting firms across the three sectors provide new insights involving the role of stakeholders that enhance respective businesses’ practices; in particular, regarding the need to overcome institutional differences. The findings raise doubt about the nature of capability development in facilitating the long-term sustainability of certain businesses, highlighting the need for decision-makers to exhibit strategic flexibility. In fact, strategies do not necessarily follow a forward-moving internationalisation process as stakeholders help some entrepreneurs pursue evolving opportunities via pivoting business models.