A Study on the Internationalization of S&M Business

The future is a road that no one has ever been to Depending on how one prepares and responds to the future, anyone can succeed, and any country has potential to emerge as a great power. Forecasting the future is also very important for SMEs’ management. Forecasting the future is very important in SMEs management as well. If SMEs make scientific predictions on the market, demand, technological development and business environment, they can preempt the market and enhance their competitiveness. On the contrary, failure to predict the future will cause any SMEs to fall behind in competition. The fourth industrial revolution is breaking down biological and physical boundaries and inter-industrial boundaries by converging all technologies that have emerged so far. The hyperconnected society where everything is connected, the super-intelligent society armed with artificial intelligence, and the hyper-industrial society with boundaries in all industries broken down, are in front of us. The convergence of the real and virtual worlds opens up a new world in which virtual worlds are implemented in reality, and becomes analogue, which is exactly the ICBMA era that is literally led by the Internet of Things, Cloud, Big Data, Mobile, Artificial Intelligence, Augmented Reality and Virtual Reality. Among them, the area we need to pay special attention to is artificial intelligence. Artificial intelligence will replace what humans have been doing. We will witness the outstanding performances of robot lawyers, robot accountants, robo-advisors, robot translators, robot doctors, and robot painters from now on. The SMEs that are competitive in the era of the Fourth Industrial Revolution, will connect the physical and cyber worlds by the Internet of Things in terms of productivity, with artificial intelligence robots producing products, and will enjoy the marginal costs including labor costs being zero and labor productivity approaching infinity. The fourth industry and internationalization have already begun. In order to effectively respond to these changes and to turn the crisis into an opportunity, the Korean SMEs shall recognize the need to actively develop globalization and internationalization of SMEs based on appropriate technology and management innovation. Thus this study analyzes the status of the global technology management environment, and presents the methods for SMEs’ survival and growth, innovation in the fourth industry, and internationalization.