Internationalization is the process of expanding the presence of the business beyond the national boundaries of the country especially to a well-developed economy. The managers involved in the process of internationalization of business must possess all the political and economic knowledge of the foreign country so that it can operate its business smoothly. There are various reasons that have been identified the need of internationalization of business such as it increases the chance of earning more revenue and profits in the developed economy reducing the cost of labour supply and production and diversification of operations (IESE, 2015). These are the most important aspects that encourage companies from emerging economies such as China, India and Russia to internationalize their business in developed economies, for example the United States and the United Kingdom with an aim to globalize their business in the world. According to Yilmaz, Bengtson and Hadjikhani (2015), it was observed that all the researchers have aimed at discussing how companies from emerging economies have been successful while operating in developed countries in the world. This journal article would also stress on highlighting how companies from emerging economies are using their entrepreneurial skills and abilities to expand their business in other developed markets. This article would analyse the example of Turkish firm operating in Romania (Yilmaz, Bengtson and Hadjikhani, 2015). Moreover, the researchers have identified that business organizations from newly emerging companies choose the process of internationalization by acquiring firms of developed economies mainly due to the lack of financial resources to establish a new business in the market. This process of internationalization of business in most common nowadays as it helps in minimizing time and effort behind the establishment and running of the business in developed economies.
Apart from the above-mentioned internationalization strategy of acquisition, there are various other strategies which are often followed by business organizations in order to successfully expand their business in developed economies such as the United States, Germany and United Kingdom. It should be noted that the degree of risk differs in different internationalization strategies mainly due to its control over the foreign market.