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An important policy challenge is the provision of support for small and medium sized enterprises (SMEs) seeking to internationalize. To guide practitioner resource allocation decisions, recent conceptual and empirical developments relating to SME internationalization are discussed. Different perspectives on internationalization are critically reviewed with regard to the following seven themes: the timing of internationalization; the intensity and sustainability of internationalization; the mode of internationalization; the influence of domestic environmental context on internationalization; the leveraging of external resources to internationalize; the unit of analysis; and the effect of internationalization on SME performance. Assuming an interventionist stance, a case for more balanced policy support towards SME internationalization is suggested that takes into account the diversity of SMEs (and entrepreneurs). Implications for researchers are discussed.

This review explores the emerging debate relating to habitual entrepreneurs. Habitual entrepreneurs (also known as experienced or, latterly, repeat entrepreneurs) are a widespread phenomenon. An entrepreneur’s business ownership experience may differ according to the number of private businesses s/he has established, inherited and/or purchased. The nature of an entrepreneur’s business ownership experience may not be homogeneous. Some habitual entrepreneurs may exit one private business before owning a subsequent one (i.e., serial entrepreneurs), while others may start/purchase and retain ownership of several private businesses concurrently (i.e., portfolio entrepreneurs). This review compares the profiles, behavior, and contributions of habitual entrepreneurs (i.e., serial and portfolio entrepreneurs) and novice entrepreneurs (i.e., entrepreneurs with no prior business ownership experience). The theoretical and policy cases for distinguishing between different types of entrepreneur are made. Differences between types of entrepreneur are examined in terms of their human capital profiles (e.g., education, motivations, and skills). Behavioral differences are examined with regard to the acquisition of resources, opportunity identification, pursuit and mode of exploitation, and organizational strategies. Finally, entrepreneur and firm performance differences between the different types are reviewed. Policy and practitioner implications are raised and assuming an interventionist stance, the case for targeted assistance toward habitual, serial, and portfolio and novice entrepreneurs is discussed. Avenues for additional research attention are highlighted relating to the following themes: the nature of opportunities; information search; leveraging human capital; entrepreneurial teams; measures of habitual entrepreneurship; the role of the external environment; contexts for habitual entrepreneurship; and methods and data issues.

Entrepreneurs have been found to have a greater disposition to unrealistic optimism than non-entrepreneurs. Entrepreneurial experience may, however, provide learning opportunities, thereby allowing experienced entrepreneurs to adopt a more realistic view in subsequent ventures. However, learning from experience is not straightforward. We argue that what is important is the nature of entrepreneurs’ experience. Specifically, we find that serial entrepreneurs are more likely to be optimistic than portfolio entrepreneurs. Further, we find that experiences with business failure may temper optimism by providing an opportunity for learning. However, while portfolio entrepreneurs become more realistic, serial entrepreneurs appear to be immune to the potential learning effects of failure.

Il sistema dei distretti industriali sembra configurare un "modello di capitalismo" differente dai due noti modelli, quello anglosassone e quello renano. Tuttavia, il modello italiano - che può essere definito come "capitalismo orizzontale o a rete"- non è limitato all'Italia. In molti altri Paesi, sia pure con diverse modalità evolutive, i distretti industriali hanno raggiunto un notevole peso economico. La Fondazione Edison, conscia del grande rilievo economico che tali distretti rivestono, ha creato l'occasione di confronto scientifico su questo tema attraverso il Convegno "Complessità e Distretti Industriali: dinamiche, modelli, casi reali" con il patrocinio dell'Accademia Nazionale dei Lincei, a cui hanno partecipato autorevoli studiosi internazionali. Il Convegno, e quindi questo volume che ne raccoglie gli atti, ha approfondito il rapporto tra teoria della complessità e analisi delle dinamiche economiche dei distretti industriali, i modelli generali delle dinamiche distrettuali e per finire i casi di successo in un contesto mondiale., The system of Italian industrial districts seems to have produced a "model of capitalism" that is different from those of the "Anglo-Saxon" and "Rhine Valley". However, the Italian model - which might be defined as "horizontal or network capitalism" - is not limited to Italy. Starting from a detailed look at the relations between general theories of complexity and an analysis of the economic dynamics of industrial clusters, this volume considers two different applications. Firstly, models of industrial clusters, and secondly, success cases of clusters around the world. The volume includes papers from well-known international authors. These papers were first presented at a conference organized by Fondazione Comunità e Innovazione in 2001 under the aegis of Edison (formerly Montedison) Group and of Accademia Nazionale dei Lincei.