ABSTRACT
INTRODUCTION The United States came out of World War II virtually unchallenged economically, politi cally, militarily, and technologically, and it overwhelmed other countries with resources and wealth. Times have changed since then. Although the United States has continued to engage in some degree of international business, most U.S. firms, especially small firms, have ignored global markets in favor of a constantly growing U.S. market. Since the 1950s, not only has the United States run up the largest trade deficits in its history by importing hundreds of bil lions of dollars of foreign trade goods, but the American consumer has also come to perceive many American produced goods as inferior to many foreign products, and the U.S. market has become saturated with foreignmade products. The significant changes in circumstances in the world in the past decades require that small firms not be hesitant in looking for growth opportunities abroad, because expanding a venture’s business beyond domestic borders may actually enhance overall performance by growing faster and earning more from operations (“International Incentive,” 1992). Additionally, businesses can no longer consider them selves purely domestic companies when global competition can be as direct and threatening as a competitor six blocks away (Miller, 1991). Failure to cultivate global markets, especi ally through exporting and/or an ecommerce configuration, can be a critical mistake for ventures and businesses of any size. Globalization is not a future event, it is already here. Therefore, successful growth requires innovation and competitive moves not only for domes tic consumption but also for the satisfaction of foreign customers’ unique requirements: 96% of the world’s population and 67% of the world’s purchasing power lie outside the borders of the United States (U.S. Small Business Administration, Office of International Trade, 1999, p. 1). Exhibit 15.1 presents the U.S. Export Profile from 1992 to 2012.
