Economics and Business Review

Abstract: The purpose of this article is to conceptualise the problem of companies' simultaneous embeddedness in different local, international and global networks and to refer this to the companies' degree of internationalisation. The emphasis of the analysis is put on local companies (that is companies not involved directly in activities in foreign markets). In this article the concept of embeddedness and the network approach is applied to the analysis of local enterprises' activities from an international perspective. We argue that even companies selling solely in the local market are entangled in international dependencies, which in turn have a significant impact on their operations, performance and internationalisation process. In this way we raise the question as to which companies may be called "internationalised". (original abstract)