Answered You can hire a professional tutor to get the answer.
Hello, I am looking for someone to write an article on Trust and Contract and Its Implications on the Network Relations of Small and Medium Enterprises (SMEs) in International Business. It needs to be
Hello, I am looking for someone to write an article on Trust and Contract and Its Implications on the Network Relations of Small and Medium Enterprises (SMEs) in International Business. It needs to be at least 2250 words. The trust factor is an important ingredient that could contribute to the success of a business organization. Its ‘invisibility’ factor makes it even more challenging for SMEs businesses to manage since developing trust does not require face-to-face contact with the individuals involved each of the business transaction.2
Specifically the absence of direct physical contact in conducting an international business transaction is considered the main problem among the local SMEs.3 Despite the difficulty in establishing a strong trust relationship among the business partners and its stakeholders as well as the lack of effective mechanisms that could enhance the trust system4, trust is considered as a fundamental requirement in each economic activity since it allows people to continuously interact with one another.5 As a result, the economy could function smoothly without so much business conflicts.
There is a very little study conducted on how key SME personnel build and maintain relationships across national boundaries. In line with the gap in the study of SME and its relationship with other countries, this study will discuss the factors that make SMEs avoid building network relations with international businesses. the importance of trust in building networks for SME internationalization as well as the impact of cross-cultural differences in building international SME network. Prior to the conclusion, the researcher will discuss the processes that could link SME to a network relevant to its internationalization.
SMEs are often at a disadvantage when dealing with big foreign markets because of their inadequate resources to compete with bigger firms.6 In some cases, it is possible for a firm to have sufficient financial resources but lack the technological resources, knowledge, and skills to maximize its monetary assets. Considering the limited resources .that hinder the economic growth of SME firms, establishing a strong network with international businesses will enable the local SMEs to easily find a strategic way of acting on their economic deficiencies.
