Growth through Internationalisation among Entrepreneurial Firms
Growth through Internationalisation among Entrepreneurial Firms - Essay Example
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It is evidently clear from the discussion that an international strategy can be successful only when there is a strong understanding about different behaviours, beliefs, business strategies and values of other firms across the globe. Innovation can be stated as the most important tool for entrepreneurs. Through innovative strategies an entrepreneur can acquire desirable market share and generate high profit margins. This study shall reveal the ways in which internationalization as a growth strategy has supported entrepreneurial firms. Apart from being aligned with corporate social responsibility, entrepreneurs must have an inclination towards innovation and maintaining quality. A theoretical background will be included in this study so as to highlight the importance of internationalization growth strategy for companies. The findings of this research paper will outline the growth path of entrepreneurial firms that has adopted internationalization strategy. There are some limitations and future research considerations also encompassed in this study. The major aim of this study is to highlight the importance of internationalization in growth of entrepreneurial firms. This study will encompass various dimensions of internationalization strategy. Objectives of the study can be classified as: According to Byrne and Popoff, internationalization can be defined as one of the business strategies which are adopted by entrepreneurs so as to achieve long-term success. Entrepreneurs usually focus on domestic market but to retain their market position the best mechanism is to target global markets. An international strategy basically means that there are scattered subsidiaries internationally and all of them act as local companies with no such support from parent company. As stated by Carnegy, global strategy often leads to wide array of corporate strategies with a little adaption to business environment. The major challenge in this process is to incorporate one common strategy that can be implemented across the globe.
This research is being carried out to evaluate and present the internationalization strategy that supports the growth of entrepreneurial firms. Internationalization is a mechanism of increasing firm’s involvement in the wide array of international markets…
In the face of increasing globalization, such firms are under pressure to internationalize their operations in order to maintain a competitive edge in the marketplace. Such internationalization requires entrepreneurial orientation and a strong generational family presence in order to maximize the potential for success.
It is included in both starting a new business or strategic renewal of the existing business. However, while conducting researches on the field of entrepreneurship, a little attention was also given on the factors which have contributed to the entrepreneurship in an organization.
structure (brick, mortar, machinery) as well as infrastructure (people, systems, procedures) so that it can develop capabilities for profit, growth and ultimately wealth.
These famous words of Sir Winston Churchill determine the various patterns observed in the organizational
arches on the field of entrepreneurship, a little attention was also given on the factors which have contributed to the entrepreneurship in an organization. Corporate entrepreneurship is an important factor in establishing the success of family firms. Family firms are those
This research will begin with the statement that family-controlled businesses are making more of an insertion into the global markets as traditional jobs for young people fall by the wayside across world economies. To some degree, this has presented opportunities for younger family members to consider remaining with the family business rather than trying to branch out on their own.
He then comes up with a business model in which he strategizes on how to tackle the particular needs while making income in the process (Clapperton 2014, 3).
The business model that the entrepreneur comes up with has to
Such decisions are very important for the businesses owners who have been operating in a small financial base with limited focus on the domestic market. The importance of the international expansion has been demonstrated by the high and ever increasing number entrepreneurs
In the prevailing business scenario, market competition and technology is dominating the business process. In the words of Mitchell et al rapid development in information and communications technology has brought upon the transformation of the business firms. Multinational firms are operating in all over the world from a single point of contact.
10 pages (2500 words)Essay
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