In the afternoon of April 26^th, Mr. Benoit Raoult, CEO of Bretwin (a French management consulting company), delivered a lecture to our MBA students. The topic of his lecture was “How does internalization destroy small and medium enterprises (SMEs)”. Mr. Raoult graduated from the EMBA Program cooperatively conducted by ESC Rennes School of Business and Tongji University. Having an education background of computer and business management, he set up Bretwin, a consulting company dedicated to help SMEs of French and other European countries enter Asian market. Due to his working experience, he has got lots of ideas about innovation management and internalization of SMEs. During the lecture, Mr. Raoult firstly shared a case with us. In that case, a French IT company, which he had once worked for, was stuck in difficulty due to misleading internalization strategies. Then he analyzed how to avoid internalization errors from such aspects as organization structure of the enterprise, enterprise culture, choice of strategies, timing of strategies and marketing strategies. After the lecture, Mr. Raoult interacted with the students. Therefore, the lecture, which was originally designed for half and an hour, lasted for more than two hours.