Guadalupe Fuentes Lombardo

Influence of the capacities of top management on the internationalization of SMEs

International diversification strategies require managerial skills capable of positioning businesses efficiently within a complex international environment. Based on resources and capabilities theory, this study examines the relationship between top management characteristics (age, education, professional experience, and language knowledge) and the international diversification of a given business. It also follows on from Herrmann and Dattas work (2005) by analysing the relationship between these managerial characteristics and SME performance. The analysis is based on a sample of 219 SMEs with international diversification strategies from the La Rioja (northern Spanish region). Regression techniques were used and the results confirmed the existence of a material relationship between a number of managerial characteristics and geographical diversification strategies for SMEs. Empirical evidence was also obtained of the relationship between Spanish SME profitability and certain managerial attributes according to their level of international diversification. Finally, the potential implications of the results of this study for both researchers and real businesses are also discussed. Policy-makers and public agencies can benefit from these results: the development of certain attributes in TMTs strengthens the development of international diversification policies, thus allowing SMEs to improve risk diversification and protection against exchange rate fluctuations.

The EPSI model as the main factor for identifying customer satisfaction: empirical research

Literature reveals the growing interest among researchers [Verdú, A., Lloréns, F. J., & Fuentes, M. (2004). Measuring perceptions of quality in food products: The case of red wine. Food Quality and Preference, 15(5), 453–469.; Rundle-Thiele, S. (2005). Elaborating customer loyalty: Exploring loyalty to wine retailers. Journal of Retailing and Consumer Services, 12(5), 333–344.] to understand the elements involved in the formation of customer satisfaction and loyalty in the consumption of Designation of Origin wines. This study is based on the pan-European Customer Satisfaction Index and develops a model of causal relationships using the covariance-based approach (AMOS 19) in order to determine the relationships existing between the variables and the weight of each variable contributing to customer satisfaction. In this paper, the model was applied to study the satisfaction of 398 consumers of Qualified Designation of Origin Rioja wine (Spain). The results show consumer satisfaction with this Designation of Origin wine is very high and it fulfils their expectations, with higher satisfaction values than those obtained for other Designation of Origin wines, revealing inter-relationships with image, expectations, perceived quality, value and loyalty. The results of this study may be useful for winery managers since they will allow them to value their current position in the market.