Commercial Strategies

Commercial Strategies

Internationalization Strategy in the Pharmaceutical Industry of Iran: Springboarding or Incremental?

Document Type : Original Article

Authors
1 Amir Sadeghi Assistant Professor Faculty of Management, Shahid Sattari Aviation University, Tehran, Iran
2 M.A. in International Business Management, Islamic Azad University, Qazvin, Iran.
Abstract
Introduction and Purpose: The globalization process has compelled pharmaceutical companies to expand and penetrate international markets, creating both challenges and opportunities. In this regard, the pharmaceutical industry is one of the industries that can play a significant role in economic development and value creation. The pharmaceutical industry is one of the strategic sectors of the world economy and constitutes a significant portion of GDP. However, the growth of Iran’s pharmaceutical industry in global markets still lags behind its potential. This research aimed to identify and prioritize the characteristics of incremental and springboard internationalization strategies in the pharmaceutical industry.
Methodology: This research is applied in terms of purpose and was conducted using a mixed-methods approach. In the qualitative part, the meta-synthesis method was used to identify the characteristics of springboarding and gradual internationalization. To conduct the meta-synthesis in this research, Sandelowski and Barroso’s seven-step method (2007) was used. In this research, the criteria for the inclusion of articles included: (1) all studies published in English and Persian, (2) published research from 2000 to 2025, (3) papers published in prestigious scientific databases, and (4) research using qualitative and mixed methods. For this purpose, studies conducted in the field of springboarding or incremental internationalization were collected from reputable databases during the years 2000–2025, and 31 articles were reviewed for final analysis. In the quantitative part, the BWM method was used to prioritize the characteristics of springboarding or incremental internationalization. The participants in the quantitative part were 10 senior managers of pharmaceutical companies in the country, who were selected using a purposive non-probability sampling method. The data collection tool was a questionnaire.
Findings: The results of the first phase of the research showed that incremental internationalization features include three main categories: the company’s internal capabilities (gradual learning, gradual innovation, and low dependency on internationalization), the company’s life cycle (low speed, slow-paced growth, and conservative strategies), and the external capabilities of the company (local networking and responsiveness to the environment). The springboarding internationalization features include three main categories: the firm’s internal capabilities (radical innovation, active learning capacity, and senior management readiness), the life cycle of firms (high speed and aggressive export strategies), and the external competencies of the company (international networking capability and an active response to the international environment). Based on the results of the BWM method, the sum of final weights indicates that the incremental approach, with an average criterion weight of 0.108, is more important than springboarding, with an average criterion weight of 0.019. This indicates that the experts have evaluated the criteria for gradual movement in the pharmaceutical industry as a key factor for business success. Incremental internationalization is characterized by three main dimensions: internal firm capabilities (gradual learning, incremental innovation, and low dependence on internationalization), the internationalization life cycle (slow speed, stepwise growth, and conservative export strategies), and external firm capabilities (local networking and reactive adaptation to the environment). In contrast, rapid internationalization is associated with internal capabilities (radical innovation, active learning capacity, and international readiness of top management), the life cycle (high speed and aggressive export strategies), and external capabilities (international networking and proactive responses to the global environment).
Discussion and Conclusion: The results showed that although both springboarding and incremental approaches are important in the pharmaceutical industry of the country, the incremental approach is more important. This finding is consistent with the Uppsala theory and the classical models that emphasize gradual learning, experience accumulation, and risk reduction in foreign markets. This suggests that, due to regulatory constraints, production complexities, and market risks, Iranian pharmaceutical companies are more inclined to pursue internationalization through gradual, stepwise processes. These insights provide valuable implications for policymakers and managers in designing appropriate strategies to enhance the global competitiveness of the pharmaceutical industry and to support broader economic and social development. One of the proposals is to develop a roadmap for international entry; even if the selection of a rapid approach is necessary, registration, legal compliance, and marketing procedures are still required. Strengthening R&D in compliance with international standards and investing in R&D for designing products that comply with the needs and regulations of target markets are also important. Another proposal is the formation of a pharmaceutical exporting consortium, enabling a number of domestic companies to enter foreign markets at the same time by using joint capacities. Many Iranian pharmaceutical companies are better able to start with incremental reforms (especially in regional markets such as Iraq, Afghanistan, and Central Asia), and after reinforcing quality and brand, move faster and faster.
Keywords

اسدنژاد، محمد، رضوانی، مهران و سخدری، کمال. (1403). شناسایی ابعاد بین المللی‌سازی کسب‌و‌کارهای کوچک و متوسط صنایع غذایی در بازار‌های نوظهور خاورمیانه. مدیریت کسب‌وکارهای بین‌المللی، 7(2)، 23-40.
doi: 10.22034/jiba.2023.58016.2098// https
انواری، ابراهیم، صلاح منش، احمد، احمدی، عاطفه، چهرازی، سرور. (1401). تجزیه‌وتحلیل جایگاه صادراتی ایران بر اساس مدل راگمن و شاخص سهم بازار پایدار (CMS). اقتصاد و توسعه منطقه‌ای، 29(بهار و تابستان 23)، 31-53.
doi: 10.22067/erd.2021.69989.1037// https
آقازاده، هاشم، خبیری، سیدحسین و خوشنویس، مژده. (1400). ریشه‌یابی پیدایش و موفقیت جهان‌زادها در مراحل اولیه: روش فراترکیب. کاوش‌های مدیریت بازرگانی، 13(26)،503-532.doi:10.22034/bar.2022.14591.3652// https
آینه، معصومه، محمودیان، یعقوب (1401). بررسی و رتبه‌بندی عوامل مؤثر بر میزان نفوذ در بازار دارو (موردمطالعه: داروهای تائید شده در جهت درمان بیماری کرونا)، پژوهشنامه بازرگانی، 104، 105-126.
doi: 10.22034/ijts.2022.25185// https
بحرینی‌زاد، منیژه، اسماعیل پور، مجید، & حراقی، مسعود. (1399). ارائه مدل ساختاری اثر کشور مبدأ بر ارزش ویژه برند (مطالعه در صنعت دارو). راهبردهای بازرگانی، 14(9)، 1-14. 10.22070/14.9.1 doi:// https
بهرامی، حسین، عزیزی، محمد، بدیع زاده، علی، رزقی شیرسوار، هادی. (1400). اثرگذاری و اثرپذیری عوامل نهادی بر بین‌المللی‌سازی شرکت‌های فناور (موردمطالعه صنعت داروسازی). مدیریت بهداشت و درمان، 12(1)، 53-68.
https://sanad.iau.ir/Journal/jhm/Article/806552
پاشازاده، یوسف، عادل، زهرا. (1398). تأثیر عوامل و موانع خاص شرکت بر استراتژی ورود آن‌ها به بازارهای بین‌المللی با استفاده از تکنیک مدل یابی معادلات ساختاری (موردمطالعه: شرکت‌های فعال در حوزه خشکبار). کاوش‌های مدیریت بازرگانی، 11(21)، 141- 161https:// doi: 10.22034/jbar.2019.1553.
خوشنویس، مژده، آقازاده، هاشم، انصاری، منوچهر و خبیری، سید حسین. (1399). مرور سیستماتیک عوامل کلیدی موفقیت جهان‌زادها. مدیریت کسب‌وکارهای بین‌المللی، 3(3)، 1-21. https:// doi:10.22034/jiba.2020.11373
زارعی، عظیم، اصغری نجیب، مریم و علی پور، سیما. (1401). ارائه چارچوبی برای بین‌المللی سازی پلتفرم‌های B2B. چشم‌انداز مدیریت بازرگانی، 21(50)، 183-206.    https:// doi:10.52547/jbmp.2022.227607.1349
طالاری، محمد، پورولی کاخکی، الهه. (1402). ارائه مدل فرایندی بین‌المللی‌سازی سریع شرکت‌های جهانی‌زاد. پژوهش‌های مدیریت در ایران، 27(2)، 152-181.   https://mri.modares.ac.ir/article_627.html
طاهرنژاد، کریم، رنگریز، حسن، مظفری، محمدمهدی. (1400). طراحی مدل علی استراتژی‌های ورود به بازارهای بین‌المللی. مدیریت کسب‌وکارهای بین‌المللی، 4(3)، 23-43.  https://doi:10.22034/jiba.2021.44699.1647
علائی طباطبائی، سید احمدرضا، الیاسی، مهدی، زندحسامی، حسام و ترابی، تقی. (1401). بین‌المللی‌سازی یک‌باره یا تدریجی؟ موردکاوی فرایند بین‌المللی‌سازی سه کسب‌وکار دانش‌بنیان. مدیریت کسب‌وکارهای بین‌المللی، 5(2)، 93-108. https://doi: 10.22034/jiba.2021.48675.1787
عزیزی، شهریار، راد، فاطمه، نیک آئین، آرزو و ابوالفضلی، ابوالفضل. (1401). شناسایی برنامه‌های آینده شرکت‌های فعال در صنعت داروسازی پذیرفته‌شده در بورس اوراق بهادار تهران: رویکرد تحلیل محتوای کیفی. راهبردهای بازرگانی، 19(19)، 23-1. 10.22070/cs.2023.17547.1298 https://doi:
Aghazadeh, H., & Zandi, F. (2023). A typology of internationalisation patterns for SMEs in developing countries. Journal of Research in Marketing and Entrepreneurship, 24(2), 337-364. https://doi.org/10.1108/JRME-02-2021-0019
Aghazadeh, H., Khabiri, S. H., & Khoshnavis, M. (2021). Root cause analysis of the emergence and early-stage success of born globals: A meta-synthesis approach. Business Management Explorations, 13(26), 503–532. https// doi:10.22034/bar.2022.14591.3652 .[In persian]
Akhtarshenas, S., Yasini, H., & Rastegar, H. (2023). Pharmaceutical exports of Iran in OIC region and entering international markets. Journal of Pharmacoeconomics and Pharmaceutical Management, 9(3). https://doi.org/10.18502/jppm.v9i3.14193
Alaei Tabatabaei, Seyed Ahmad Reza; Elyasi, Mahdi; Zand-Hessami, Hessam; & Torabi, Taghi. (2022). Sudden or Gradual Internationalization? A Case Study of the Internationalization Process of Three Knowledge-Based Firms. International Business Management Research Journal, 5(2), 93–108 https://doi: 10.22034/jiba.2021.48675.1787 .[In persian]
Asadnezhad, M., Rezvani, M., & Sokhadri, K. (2024). Identifying the dimensions of internationalization of small and medium-sized food industry enterprises in emerging Middle Eastern markets. International Business Management Research Journal, 7(2), 23–40. https://doi: 10.22034/jiba.2023.58016.2098.[In Persian]
Anvari, E., Salahmanesh, A., Ahmadi, A., & Chehrazi, S. (2022). An analysis of Iran’s export position based on the Rugman model and the Constant Market Share (CMS) index. Regional Economics and Development, 29(Spring–Summer 23), 31–53. https://doi: 10.22067/erd.2021.69989.1037 [In Persian]
Ayneh, M., & Mahmoudian, Y. (2022). Investigation and ranking of factors influencing market penetration in the pharmaceutical sector (Case study: Approved drugs for the treatment of COVID-19). Business Research Letter, 104, 105–126. https://doi: 10.22034/ijts.2022.25185 [In persian].
Azizi, Sh., Rad, F., Nikaein, A., & Abolfazli, A. (2022). Identifying future plans of pharmaceutical companies in the Tehran Stock Exchange: A qualitative content analysis approach. Business Strategies, 19(19), 1–23. https://doi.org/10.22070/cs.2023.17547.1298. [In Persian]
Bartlett, C. A., & Ghoshal, S. (1989). Managing across borders: The transnational solution. Harvard Business School Press.
Bahreinizar, M., Esmaeilpour, M., & Haraghi, M. (2020). Presenting a structural model of the effect of country of origin on brand equity: A study in the pharmaceutical industry. Business Strategies, 14(9), 1–14. https://doi.org/10.22070/14.9.1 [In Persian]
Bahrami, H., Azizi, M., Badi’zadeh, A., & Razaghi Shirsavar, H. (2021). The influence and interdependence of institutional factors on the internationalization of technology-based firms (Case study: Pharmaceutical industry). Health and Treatment Management, 12(1), 53–68. https://sanad.iau.ir/Journal/jhm/Article/806552. [In Persian]
Belderbos, R., Tong, T. W., & Wu, S. (2019). Multinational investment and the value of growth options: Alignment of incremental strategy to environmental uncertainty. Strategic Management Journal, 40(1), 127-152. https://doi.org/10.1002/smj.2969.
Bika, Z., & Kalantaridis, C. (2017). Organizational‐social‐capital, time and international family SMEs: an empirical study from the East of England. European Management Review, 16(3), 525-541. https://doi.org/10.1111/emre.12160
Boldrini, P. E. H., Kogut, C. S., & de Mello, R. C. (2024). Internationalization of Emerging Market Multinationals: a Conversation Between the Uppsala Model and the Springboard Perspective. Internext, 19(1). https://doi.org/10.1145/3770177.3770260
Chandra, A., Paul, J., & Chavan, M. (2020). Internationalization barriers of SMEs from developing countries: a review and research agenda. International Journal of Entrepreneurial Behavior & Research, 26(6), 1281-1310. https://doi.org/10.1108/IJEBR-03-2020-0167
Chen, J., Sousa, C. M., & He, X. (2016). The determinants of export performance: a review of the literature 2006-2014. International marketing review. https://doi.org/10.1108/IMR-10-2015-0212
Cherchem, N., Keen, C. (2022). International Entrepreneurial Ecosystem, Knowledge Exploitation and Innovation: Case of International Pharma-Biotech SME. In: Caputo, A., Pellegrini, M.M., Dabić, M., Dana, LP. (eds) The International Dimension of Entrepreneurial Decision-Making. Contributions to Management Science. Springer, Cham. https://doi.org/10.1007/978-3-030-85950-3_4
Chetty, S. K., & Stangl, L. M. (2010). Internationalization and innovation in a network relationship context. European Journal of Marketing, 44(11/12), 1725-1743. https://doi.org/10.1108/03090561011079855
Chiva, R., Ghauri, P., & Alegre, J. (2014). Organizational learning, innovation and internationalization: A complex system model. British Journal of Management, 25(4), 687-705. https://doi.org/10.1111/1467-8551.12026
Ciszewska-Mlinarič, M., Wojcik, P., & Obłój, K. (2019). Learning dynamics of rapidly internationalizing venture: Beyond the early stage of international growth in a CEE context. Journal of Business Research, 108, 450-465. https://doi.org/10.1016/j.jbusres.2019.03.002
Dabić, M., Maley, J., Dana, L. P., Novak, I., Pellegrini, M. M., & Caputo, A. (2020). Pathways of SME internationalization: A bibliometric and systematic review. Small Business Economics, 55, 705-725. https://doi.org/10.1007/s11187-019-00181-6
Dominguez, N. (2020). Why do western SMEs internationalize through springboarding? Evidence from French manufacturing SMEs. Transnational Corporations Journal, 27(1). 87-110. https://ideas.repec.org/a/unc/tncjou/38.html
Dunning, J.(2001). The eclectic (OLI) paradigm of international production: Past, present and future. Int. J. Econ. Bus, 8, 173–190. https://doi.org/10.1080/13571510110051441
Khoshnavis, M., Aghazadeh, H., Ansari, M., & Khabiri, S. H. (2020). A systematic review of the key success factors of born globals. International Business Management Research Journal, 3(3), 1–21. https:// doi:10.22034/jiba.2020.11373 .[In Persian]
Knight, G. A., & Cavusgil, S. T. (2004). Innovation, organizational capabilities, and the born-global firm. Journal of International Business Studies, 35(2), 124–141. https://doi.org/10.1057/palgrave.jibs.8400071
Evers, N., Ojala, A., Sousa, C. M., & Criado-Rialp, A. (2023). Unraveling business model innovation in firm internationalization: A systematic literature review and future research agenda. Journal of Business Research, 158, 113659. https://doi.org/10.1016/j.jbusres.2023.113659
Freeman, S., & Cavusgil, S. T. (2007). Toward a typology of commitment states among managers of born-global firms: A study of accelerated internationalization. Journal of international marketing, 15(4), 1-40. https://www.jstor.org/stable/25049099
Gulanowski, D., Papadopoulos, N., & Plante, L. (2018). The role of knowledge in international expansion: Toward an integration of competing models of internationalization. Review of International Business and Strategy, 28(1), 3560. https://doi.org/10.1108/RIBS-09-2017-0077.
International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use. (2023). ICH Guidelines. https://www.ich.org
IQVIA (2020). International Screening Year 2020. IQVIA. Available online: https://www.iqvia.com/ (accessed on 5 May 2023).
Hymer, S. H. (1976). The international operations of national firms: A study of direct foreign investment. MIT Press.
Jekanyika Matanda, M. (2012). Internationalization of established small manufacturers in a developing economy: A case study of Kenyan SMEs. Thunderbird International Business Review, 54(4), 509-519. https://doi.org/10.1002/tie.21480
Jin, B., Chung, J. E., Yang, H., & Jeong, S. W. (2018). Entry market choices and post-entry growth patterns among born globals in consumer goods sectors. International Marketing Review, 35(6), 958-980. https://doi.org/10.1108/IMR-11-2015-0243
Johanson, J., & Vahlne, J. E. (1977). The internationalization process of the firm—a model of knowledge development and increasing foreign market commitments. Journal of international business studies, 8, 23-32. https://doi.org/10.1057/palgrave.jibs.8490676.
Johanson, J.; Mattsson, L.(1988).  Internationalization in industrial systems: A network approach. In Strategies in Global Competition; Hood, N., Vahlne, J.E., Eds.; Croom Helm: New York, NY, USA.
Kotler, P. (1986). Principles of marketing (3rd ed.). Prentice-Hall.
Kalinic, I., & Forza, C. (2012). Rapid internationalization of traditional SMEs: Between gradualist models and born globals. International Business Review, 21(4), 694–707. https://doi.org/10.1016/j.ibusrev.2011.08.002
Krenn ML, Chiarvesio M (2024). Business model innovation and internationalization: investigating the relationship through the dynamic states approach. Journal of Small Business and Enterprise Development. 31. )6(. 1067–1087. https://doi.org/10.1108/JSBED-06-2023-0247
Li, Y., Fan, D., Kumar, V., & Ananthram, S. (2024). Configuring International Growth of emerging market multinational enterprises: A compositional springboarding view in the context of India. Journal of Management Studies, 61(6), 2570-2603.  https://doi.org/10.1111/joms.12981
Lindstrand, A., Melén, S., & Nordman, E. R. (2011). Turning social capital into business: A study of the internationalization of biotech SMEs. International Business Review, 20(2), 194-212. https://doi.org/10.1016/j.ibusrev.2011.01.002
Luo, Y., & Witt, M. A. (2022). Springboard MNEs under de-globalization. Journal of International Business Studies, 1-14. https://doi.org/10.1057/s41267-021-00423-4
Mahdavi Mazdeh, Bijan; Zakeri, Amir; & Mirza-Mohammadi, Saeed. (2021). The Role of Different Types of Knowledge in the Stages of Internationalization of Knowledge-Based Firms along with Its Policy Implications. Business Review, 19(111), 85–101. https://dor.isc.ac/dor/20.1001.1.26767562.1400.19.111.5.7. [In Persian]
Magomedova, N., Achcaoucaou, F., & Miravitlles, P. (2022). The nascence of a springboard subsidiary: drivers of the evolution of a subsidiary role. Management Decision, 60(5), 1469-1491.
McCormick, M., & Somaya, D. (2020). Born globals from emerging economies: Reconciling early exporting with theories of internationalization. Global Strategy Journal, 10(2), 251-281. https://doi.org/10.1002/gsj.1368
 
Melén, S., & Nordman, E. R. (2009). The internationalisation modes of Born Globals: A longitudinal study. European Management Journal, 27(4), 243-254. https://doi.org/10.1016/j.emj.2008.11.004
Menzies, J. L., & Orr, S. C. (2014). Internationalization to China: a model for Australian architectural, engineering and construction firms. International Journal of Construction Education and Research, 10(3), 201-221. https://doi.org/10.1080/15578771.2013.839484
 
Messina, L., Miller, K., Cunningham, J. A., McAdam, R., & Hewitt-Dundas, N. (2022). Exploring the influence of innovativeness on the pace of internationalisation of university spin-outs: a born global perspective. Studies in Higher Education, 47(10), 2071-2087. https://doi.org/10.1080/03075079.2022.2122660
Morrish, S. C., & Earl, A. (2021). Networks, institutional environment and firm internationalization. Journal of Business & Industrial Marketing, 36(11), 2037-2048. https://doi.org/10.1108/JBIM-05-2019-0230
Osarenkhoe, A., Fjellström, D., & Komunda, M. B. (2024). Unveiling exogenous gaps enabling a cluster organization’s internationalization process. Central European Management Journal. https://doi.org/10.1108/CEMJ-07-2023-0319
Otomo, S., Ishida, S., & Yang-Yoshihara, M. (2023). Empirical Research on Early Internationalization of Firms in Sufficiently-Sized Domestic Market Country. Administrative Sciences, 13(4), 107. https://doi.org/10.3390/admsci13040107
Oviatt, Benjamin M., and Patricia Phillips McDougall. (2005). Defining international entrepreneurship and modeling the speed of internationalization. Entrepreneurship Theory & Practical 29: 537–53. https://doi.org/10.1111/j.1540-6520.2005.00097.x
Pashazadeh, Y., & Adel, Z. (2019). The impact of firm-specific factors and barriers on their entry strategies into international markets using structural equation modeling (Case study: Companies active in the dried fruit industry). Business Management Explorations, 11(21), 141–161 https:// doi: 10.22034/jbar.2019.1553  . [In Persian]
Pellegrino, J. M., & McNaughton, R. B. (2017). Beyond learning by experience: The use of alternative learning processes by incrementally and rapidly internationalizing SMEs. International business review, 26(4), 614-627. https://doi.org/10.1016/j.ibusrev.2016.12.003
Ray, P., Ray, S., & Kumar, V. (2023). A knowledge-based view of emerging market firm internationalization: the case of the Indian IT industry. Journal of Knowledge Management, 27(4), 1086-1108. https://doi.org/10.1108/JKM-08-2021-0660
Rezaei, J. (2016). Best-worst multi-criteria decision-making method: Some properties and a linear model. Omega, 64, 126-130. https://doi.org/10.1016/j.omega.2015.12.001.
Samant, S., Thakur-Wernz, P., & Hatfield, D. E. (2023). The impact of differences in internationalization processes on innovation by emerging economy firms. International Journal of Emerging Markets, 18(5), 1254-1281. https://doi.org/10.1108/IJOEM-11-2020-1331
Scaringella, L. (2016). Knowledge, knowledge dynamics, and innovation: Exploration of the internationalization of a multinational corporation. European Journal of Innovation Management, 19(3), 337-361. https://doi.org/10.1108/EJIM-05-2015-0031
Shabaninejad H, Yusefzadeh H, Mehralian G, Rahimi B. (2019). The Structure of the World Pharmaceutical Market: Prioritizing Iran's Target Export Markets. Iran J Pharm Res. Winter;18(1):546-555. https://doi.org/10.22037/ijpr.2019.2355
Talari, M., & Pourvali Kakhki, E. (2023). Developing a process model for the rapid internationalization of born-global firms. Management Research in Iran, 27(2), 152–181. .   https://mri.modares.ac.ir/article_627.html .[In persian].
Tahernezhad, K., Rangriz, H., & Mozaffari, M. M. (2021). Designing a causal model of entry strategies into international markets. International Business Management Research Journal, 4(3), 23–43. https://doi:10.22034/jiba.2021.44699.1647 [In Persian]
Teece, D. J. (2007). Explicating dynamic capabilities: The nature and microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28(13), 1319–1350. https://doi.org/10.1002/smj.640
Teramae, F., Makino, T., Lim, Y., Sengoku, S., & Kodama, K. (2020). International strategy for sustainable growth in multinational pharmaceutical companies. Sustainability, 12(3), 867. https://doi.org/10.3390/su12030867
Thakur-Wernz, P., Cantwell, J., & Samant, S. (2019). Impact of international entry choices on the nature and type of innovation: Evidence from emerging economy firms from the Indian bio-pharmaceutical industry. International Business Review, 28(6), 101601. https://doi.org/10.1016/j.ibusrev.2019.101601
Vieira, J., Frade, R., Ascenso, R., Martinho, F., & Martinho, D. (2021). Determinants of Internationalization as Levers for Sustainability: A Study of the Portuguese Pharmaceutical Sector. Sustainability, 13(17), 9792. https://ideas.repec.org/a/gam/jsusta/v13y2021i17p9792-d626308.html
Vlačić, B., González-Loureiro, M., & Eduardsen, J. (2023). The process of the process of internationalisation: cognitive and behavioural perspectives in small ventures. European Journal of International Management, 19(3), 307-337. https://doi.org/10.1504/EJIM.2023.128813
World Health Organization. (2022). WHO good manufacturing practices for pharmaceutical products: Main principles. WHO Technical Report Series. No. 1044, Annex 2. https://www.who.int/publications/m/item/trs1044-annex2
World Health Organization. (2010). WHO good distribution practices for pharmaceutical products. WHO Technical Report Series No. 957, Annex 5.
Wu, J., & Vahlne, J. E. (2020). Dynamic capabilities of emerging market multinational enterprises and the Uppsala model. Asian Business & Management, 1-25. https://doi.org/10.1057/s41291-020-00111-5
Zarei, A., Asghari Najib, M., & Alipour, S. (2022). Proposing a framework for the internationalization of B2B platforms. Business Management Perspective, 21(50), 183–206.  https:// doi :10.52547/jbmp.2022.227607.1349 [In Persian]
Zhao, S., & Yu, S. (2024). Accelerate or delay? Big step internationalization and the speed of subsequent foreign expansion—evidence from Chinese MNEs. Chinese Management Studies. 18(6) 1738-1774. https://doi.org/10.1108/CMS-04-2023-0175
Zhou, L., Xu, S. R., Xu, H., & Barnes, B. R. (2019). Unleashing the dynamics of product-market ambidexterity in the pursuit of international opportunities: Insights from emerging market firms. International Business Review, 29(6), 101614. https://doi.org/10.1016/j.ibusrev.2019.101614