...-making, offering testable propositions on the dynamic interplay between biases, heuristics, and internationalization decisions. Findings This model supports the argument that heuristic decision-making is contingent upon context-specific prior experience, which leaders of small firms typically lack...

.... A routine-based capability response is preferred when threats are familiar, simple, not severe and frequent, following minimal disorganization and where resource slack is available. In contrast, heuristics-based capabilities are preferred when threats are unfamiliar, complex, severe and infrequent...