The Methodology of Strategic Management of Business Internationalization

The aim of the research is to reveal the essence of business internationalization through the identification of its motives, types, forms, and methods; to improve the conceptual understanding of the system of strategic management of business internationalization, taking into account the deep diversification of this process and the necessity of its integration into the company’s business model under conditions of a high level of turbulence in the international environment. The article reveals the essence of business internationalization through a systematic study of its motives and risks, types, forms, and methods of implementation. It is substantiated that the system of managing the internationalization of business should be considered as a set of three segments: «model of strategic behavior of the business entity» – «target strategy» – functional (situational) strategy of internationalization. It is argued that within the framework of the model of strategic behavior, which can be ethnocentric, polycentric, regiocentric, or geocentric, the implementation of an internationalization strategy takes place, chosen according to the objectives of the business entity and its current competitive position in the market. In the case of focusing the enterprise on the expansion of new markets, strategic management of internationalization is based on a deep strategic analysis and a system of key management decisions regarding the type and form of internationalization, its timing and dynamics, and the business direction that will be promoted in the new market. The enabling tools for the functioning of the established system of strategic management of internationalization should be speed, flexibility, adaptability, and variability, which will contribute to the efficient integration of the process of internationalization into the company’s business model.