All of these models propose an incremental "stages" approach -although the precise number of stages is contested -and generally support the notion of psychic distance. However, less emphasis is placed on the development of alternative market entry modes. Rather, the models highlight firms' increased dependence on exports and greater commitment to a growing number of foreign markets. Thus, from being unwilling to export, firms proceed through various stages to become experienced, highly committed exporters (see Figure 1). As Andersen[23] observes: Except for the initiating mechanism, the differences between the(se) models reflect semantic differences rather than real differences concerning the nature of the internationalization process.

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The objective of this study was to explore the linkages between the overall business strategies of small firms and their patterns, processes and pace of internationalization. A qualitative approach was adopted, involving 30 indepth interviews with key decision makers of internationalizing small firms based in 3 UK regions (15 ‘knowledge-intensive’ and 15 ‘traditional’ firms). The findings suggest that business policies, including those linked to ownership and/or management changes, had an important influence upon the international orientation of many firms. There were close relationships between product policies and market focus, with product or process innovation often providing an important stimulus to international expansion. However, differences existed in the patterns, processes and pace of internationalization between small ‘knowledge-intensive’ and ‘traditional’ manufacturing firms. The implications of these results on firm strategy, public policy and theory development are discussed and a series of research questions are postulated for future investigation.

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