Internationalisation begins with companies’ decision to enter global markets to develop knowledge and experience as key competitive factors in the global economy, which has been the subject of much empirical research. Decision-making, knowledge management, and effective internationalisation have become key strategic tools for all companies, especially for small- and medium-sized enterprises (SMEs). This study wants to provide a framework for SMEs internationalisation based on the real options theory, (ROT) as a knowledge driver method. For this purpose, the effective factors for internationalisation were identified by reviewing the literature on the subject and the internal and external backgrounds of the subject. Then, main and sub-factors were prioritised by the fuzzy analytic hierarchy process (AHP) method. The statistical population consisted of senior managers, business managers of SMEs in Isfahan, Iran, who were eligible to enter this study. Twenty-six experts participated in this study by judgmental non-random sampling method. A fuzzy AHP questionnaire was prepared in the form of 19 sub-factors and 7 main factors. The components of each factor in each group were also ranked by experts, and their weights were obtained. Next, according to the ROT strategies which have 5 options, an alignment matrix was used to align the factors affecting the decision with the strategies. After answering the research question, the option that had a higher mode was considered AS; then, this score was multiplied by the weight obtained in the previous step and the TAS was obtained. Finally, strategies were classified as appropriate, need further investigation, and inappropriate.

国际化始于公司决定进入全球市场以开发知识和经验作为全球经济中的关键竞争因素，这一直是许多实证研究的主题。决策、知识管理和有效的国际化已成为所有公司，尤其是中小企业 (SME) 的关键战略工具。本研究希望为基于实物期权理论（ROT）作为知识驱动方法的中小企业国际化提供一个框架。为此，通过查阅有关该主题的文献以及该主题的内部和外部背景，确定了国际化的有效因素。然后，通过模糊层次分析法（AHP）方法对主要和次要因素进行优先排序。统计人群包括伊朗伊斯法罕 SME 的高级管理人员、业务经理，他们有资格参加这项研究。26位专家通过判断性非随机抽样方法参与了本研究。以19个子因素和7个主要因素的形式编制了模糊层次分析法问卷。各组中各因素的成分也由专家进行排序，并得到它们的权重。接下来，根据具有 5 个选项的 ROT 策略，使用对齐矩阵将影响决策的因素与策略对齐。在回答了研究问题后，考虑了具有更高模式的选项 以19个子因素和7个主要因素的形式编制了模糊层次分析法问卷。各组中各因素的成分也由专家进行排序，并得到它们的权重。接下来，根据具有 5 个选项的 ROT 策略，使用对齐矩阵将影响决策的因素与策略对齐。在回答了研究问题后，考虑了具有更高模式的选项 以19个子因素和7个主要因素的形式编制了模糊层次分析法问卷。各组中各因素的成分也由专家进行排序，并得到它们的权重。接下来，根据具有 5 个选项的 ROT 策略，使用对齐矩阵将影响决策的因素与策略对齐。在回答了研究问题后，考虑了具有更高模式的选项AS ; 然后，这个分数乘以上一步得到的权重，就得到了TAS。最后，策略被分类为适当的、需要进一步调查的和不适当的。