Business Ecosystem as a Strategy for Internationalization and Growth of S.M.E.s : A case study of S.M.E.s in Lagos, Nigeria.

Sammanfattning: The constant change in today's business environment has brought about the need for S.M.E.s to contend with more dynamic, complicated, and global business environments, making it hard to maintain competitiveness. It is broadly acknowledged that SMEs face comparable constraints, such as limited human, financial, and informational resources. With the rising global freedom of industrial and commercial operations, the Internationalization of business affects both big and small companies as firms' performance depends on the participation of other role players and internal and external considerations. The importance of the parent-subsidiary company relationship that was so prevalent in the past has dissipated, giving way to more flexible contractual arrangements formulae that enable more effective utilization of competitive advantages in changing circumstances. In this context, the term "business ecosystem" is commonly employed. Therefore, this study examines if the business ecosystem adoption is a feasible strategy for S.M.E.s growth and internationalization. Also, the study examined the business ecosystem from the viewpoint of co-opetition and network theories. The research made use of a qualitative case study of S.M.E.s in Nigeria's Lagos state with the aid of thematic analysis for data interpretation and analysis. The data was collected from six executives of thriving businesses involved in collaborative business activities and international presence by conducting semi-structured interviews. The findings suggest that the business ecosystem approach is feasible for the internationalization and growth of S.M.E.s and necessitate collaborations with other firms (complementors and competitors). The link to internationalization is created via networks and co-opetition, which emphasize relationship building in a disruptive corporate environment. It further emphasizes the importance of networking for information gathering, relationship building, and value co-creation in the business ecosystem context. The study contributes to theory by explaining how the theories of business ecosystem and internationalization are inextricably linked. Also, the implementation of the business ecosystem will grant SMEs the access to resources needed to grow and improve business activities for sustainability and market information (local & international) through networking and collaboration.