Introduction:
Today globalization has impacted the world in many ways, in fact the whole world has been a small place to live in. However, there are still differences in many aspects of working , doing things or in the economical or environmental situation of different places. For this it is very important for the researchers to choose such topics, which can impact the real issues in better way and can contribute much positivity . Being business student I feel the choice of topic of the researchers is very good and it has very important role in the overall business scenario. The topic which is about entrpreneurship dynamism and the influence of contextual factors on new entries will help the entrepreneur to consider things which can help them in yielding better results for their progress.
The research begins with the introduction to the background of problem stating why there is need to research this topic. Authors have researched the topic in depth and tried to give an overview which can explain the problem statement itself. In my view the choice of topic is quite relevant and useful and being reader i got good idea about entrepreneurship dynamism. The authors have clearly mentioned their stance about reserching only the entry of new firms so not to confuse with the exit also, otherwise reader might be searching the inefficient content relating to topic. As reader have got good idea why it is important to study about the contextual factors for having a right startup. In addition, it seems authors have fairly tried to link their work with previous researches, which is very important and valuable aspect of any quality research.
Another important aspect of this research is the fact that authors have well managed to explain the pu...
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...ed is all in accordance with the literature presented for this research. Data is also gathered on fairly large scale which is quite useful for this type of academic research. Data collection directly from entrepreneurals by using skype and face to face interviews is good technique as there are quite useful for distant respondents and quality criteria is also measurable .However, for me it was hard to find about the type of business each entrepreneural having because it is important to know the business tpe as every business has different aspects to be considered. The entrepreneural in textile industry might not follow same rules and restriction as compare to entrepreneural in service industry. It would have been great if authors have clearly mentioned each business type . As a reader it was not easy for me to follow the analysis section with its overall results.
In response to the question set, I will go into detail of the study, consisting of the background, main hypotheses, as well the aims, procedure and results gathered from the study; explaining the four research methods chosen to investigate, furthering into the three methods actually tested.
A business can either take a step forward or a step back depending on the external and internal influences and how they handle them, they can either flourish or enter stages of degradation and cessation. External and internal influences on a businesses plays a part in the opportunities that arise in the industry the business operates in, otherwise the business may choose to venture out of it’s defined industry depending on the opportunities at hand. Businesses are affected by internal and external influences to a degree where they are either benefiting or suffering from the way they handle opportunities that arise. The five articles depict the problems encountered by businesses no matter their size or industry.
This article hasn’t provided an introduction; however a lengthy summary of the study which identifies the problem, purpose and rationale for the research study has been provided in the background. The introduction should give the reader a general sense of what the document is about, and preferably persuade the reader to continue reading. This prepares the reader for reading the rest of the document (Burns & Grove, 2001 p.636; Nieswiadomy, 2008 p.380; Stockhausen and Conrick, 2002).
The company and the diversification it had achieved throughout the years were discussed, and moreover, seeing the ‘history of the company’s growth’ chart, I learned that in bad economy situations, we have to be more creative in finding opportunities. I understood the strategies used by the company such as expansion, having the company motivated by staff, local society understanding and trying not to be adventurous by entering new markets with no past experience in (Being a niche player). I understood the importance of creating ventures with others since teams are able to learn lessons from
Our economic development will forever be defined as our ability to succeed internationally. PwC forecasts India’s real annual GDP growth until 2050 at 8.9 percent, Vietnam’s at 8.8 percent, and China’s at 5.9 percent. The list of fast-growing emerging markets goes on and on. The U.S. forecast is a meager 2.4 percent, comparable with most Western economies. The domestic companies that are likely to see incremental growth in the coming decades are those that are not only doing business internationally, but that are developing the strategic skill set to master doing business across cultures. Cross-cultural core competence is at the crux of today’s sustainable competitive advantage. For example, political environment will tell us, as to how and why political leaders control, whether and how of international business. Legal environment, both national and international will tell us about many kinds of laws by which business firms must work. The cultural environment will tell us about attitudes, beliefs and opinions important to business people. Economic environment will tell us about the economic system being followed by the host country, which may or may not be different from home country. It will also explain the variables such as level of development, human resources, Gross Domestic Per Capita and consumption patterns that determine a firm’s ability to do business. Geography will tell us about location, quantity, and quality of the world’s resources.
Entrepreneurship incorporates unconstrained imagination and a readiness to settle on choices without strong information. The entrepreneur may be driven by a need to make something new or assemble something unmistakable. As new ventures have low achievement rates, the business person should have impressive tirelessness. Because of this, the entrepreneur may have the best risk of achievement by concentrating on a business sector corner either too little or too new to have been commanded by built up organizations.
An entrepreneur is an agent of change. “. For majority of the authors, they noted that an “Agent of change” is an entrepreneur, but not all entrepreneurs are “Agents of change”. Secondly, another author provides specific features that characterize entrepreneurs as being goal oriented. In German media, for instance, showcase appropriate wordings being linked to the term “entrepreneur”, such as “strong-willed”, “resilient” and “dynamic”. Entrepreneurs search various solutions to a problem, cutting edge ideas, and extraordinary analytical thinking to carry out their interpretation of their vision. Another author claimed that there are 5 reasons on how entrepreneurs can become an agent of change and it is by: 1) Develop a community, 2) Generate a paradigm, 3) Generate wealth, 4) Multiply opportunities, 5) Enhance the public’s knowledge. Lastly, the essay proposes that entrepreneurs who are goal-driven invest in their future by honing their entrepreneurial skills, domain expertise, continuous learning of the market that makes their passion
Globalization can be described as an increased connectivity among societies and their elements due to the explosive evolution of transport and communication technologies to facilitate international cultural and economic exchange. There are several countries that participate in international trade, as well as several forms of international business activities. For every organization, its goal is to maximize profits. Over the years, the increase in competition causes organization to either disintegrate or rise on top of other competitors. Therefore, the best tactic for any organization is to construct innovative ways in conducting a business.
To be a successful entrepreneur, there are steps that one must follow when starting a new enterprise. These steps are termed as the process of entrepreneurial which is the systematic method of preparation of an enterprise that consists of four steps. The four steps are fundamental to the success of an entrepreneur venture. The four entrepreneurial processes includes discovering, assessing and opportunity, developing a business plan, establishing resource needs, and managing the resulting enterprise (Barringer & Ireland, 2010). Each individual step is vital for the start of an entrepreneur venture and for an entrepreneur to achieve their entrepreneurial goals. This paper will discuss the four steps of the entrepreneurial process,
Corporate Entrepreneurship can be seen as the process whereby an individual or a group creates a new venture within an existing organization, revitalizes and renews an organization ,or innovates. Zahra’s(1986) definition of corporate entrepreneurship suggests a formal or informal activity aimed at creating new businesses in established firms through product and process innovations and market developments,whereas sathe(1985) defines corporate entrepreneurship as a process of organizational renewal. Corporate Entrepreneurship has emerged as a much needed ingredient contributing towards the growth of any organization under a changing business environment.
At current time, it is, without a doubt, essential for a company looking to expand its scope and compete on the world stage of business to, through globalization, incorporate its products and services in the markets of different countries across the world. In doing so, it transcends the breadth of domestic business and starts participating in the realm of international business. This calls on the company to do a total evaluation of its current business outline and prospects by means of globalization to ensure a smooth transition to international business. As a result, in order for a company to maximize the efficiency of its expansion, it is important to find a nexus between globalization and international business by which they
I also found that new product development for international business is more challenging against the competitor. Because product life cycle was found to be shorter in international market due to increase level of competition. Moreover during the assignment work I never knew that cultural issue were to important in international
Even though the previous findings have attempted to figure out the relationship between entrepreneurship and employment, it is necessary to consider the quality of employment and job satisfactions of employees. Arguably, the statistical data about employment is used for boosting for supporting small businesses and entrepreneurship, but the qualities of jobs provided by small firms fails to draw attention. Because of the fact that employees’ job satisfaction can also affect the success of entrepreneurship, more studies about the issues should be conducted.
The return was largely due to the social managerial and psychological factors than the economic theory. Having different perspectives to the concept of entrepreneurship was common early on as the different views regarding it made the entrepreneurship very difficult to progress and develop in international trade. According to Misses (1998) it is not possible to neglect the role of the entrepreneur in the market of economy as the different complementary components of the production is gathered and embedded by the entrepreneurs. Entrepreneurship is about the identifying and creating opportunities. Entrepreneurship is major drivers of present and future welfare. Entrepreneurship can cause economic growth, the idea of starting a new business that involves innovative ways such as improving the quality of a product and decreasing its price so they attract customers and also save the customers extra spending on a product will lead to economic
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.