Entrepreneurship: Globalization And Entrepreneurship

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GLOBALIZATION AND ENTREPRENEURSHIP Globalization and Entrepreneurship Recently, it has become phenomenal as many firms operate globally from their inception. Companies, that are born to be global, basically rely on the technological advancements and innovativeness, which have been included in the Pang’s entrepreneurial strategies. Additionally, such firms usually have unique characteristics that make them recognizable and different. Moreover, firms that are born to be global usually focus on producing high quality products or services with inimitable features through the utilization of the technological innovations. Generally, the success of global companies relies on many factors, including creativity, innovation, and quality in services or…show more content…
This creation was motivated by the wish to gain “ first mover advantage” and to get lock-in new clients in other markets. Most of the born global firms work on offering value-added goods and services, particularly knowledge based firms that are coming from emerging markets and accessing global markets to target a variety of customers at home country and worldwide. Generally, some firms may choose to sell their creative ideas to particular incumbent firms for number of reasons. For example, some firms may choose to sell their innovations in order to protect them from being over consumed. On the other hand some firms may choose to sell their ideas to avoid risks that could be involved in the process of using them to produce specific products or services. Peng's strategies and Norback and Persson visualise business differently. Pang’s main consideration was the recognition and the identification of the strategies and methodologies that can be utilised to transform domestic firms into global firms. On the other side, Norback and person look at global business strategy from deferent angle as the suggested selling innovative ideas can be considered as a way for going global with minimum risks. GLOBALIZATION AND…show more content…
Because it eliminates the use of resources, and the leverage of skills knowledge. Meanwhile, such firms need smart management and highly skilled employees. In fact, on the long term, the strategy of globalization some times may have better outcome when compared to the strategy of selling innovations and that caused by two factors. First factor is that selling innovative ideas may leverage more resources from the parent firm. Second factor, is that globalization strategy provides the company with the ability to find solutions for new threats. Therefore it can be concluded that selling innovations strategy may has more positive outcomes in the beginnings of the firms life cycle but fewer benefits at the late stages of it, specially when compared with the globalization
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