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International Entrepreneurship can be defined as a process where by the business process adopts innovative, proactive and exhibits risk-taking behavior.
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Definition of Entrepreneurship • Entrepreneurship can be defined as a process where in opportunities that were not explored earlier are explored are identified and exploited as part of a business process. • Entrepreneurship has a great role to play in the development of business organizations. www.HelpWithAssignment.com
Entrepreneurship • Most of the successful business organizations today were established because the visionaries could observe a potential which other were not able to perceive. • Those visions have given rise to what is called as great business opportunities that they have been exploiting. www.HelpWithAssignment.com
International Entrepreneurship • International Entrepreneurship can be defined as a process where by the business process adopts innovative, proactive and exhibits risk-taking behavior. • The risk-taking behavior is one of the most important and featured characteristics in an International Entrepreneurship. www.HelpWithAssignment.com
International Entrepreneurship • Higher risks are taken where there is a great uncertainty in the happening of an event. • But when the event does happen, the returns will be very high. • So, for earning great returns, entrepreneurs are ready to take great risks. www.HelpWithAssignment.com
How Entrepreneurs start? • An entrepreneur starts his/her life as an SME or Small or Medium Enterprise. • Small or medium enterprises are characterized by the number of employees working in the organization. • Usually, a concern is considered to a small or a medium enterprise when the total number of employees are less than 500. www.HelpWithAssignment.com
Importance of Enterprises • The significance of small and medium enterprises cannot be ignored in today’s global business. • In fact, every year many number of SMEs are entering into many fields promoting their business globally. www.HelpWithAssignment.com
Industries that entrepreneurs choose • Some of the industries include import and export of goods and services, education, research, business process outsourcing, knowledge process outsourcing, market research, etc. www.HelpWithAssignment.com
Small and Medium Scale Businesses • Today, small and medium-scale enterprises are generating more employment than large corporate organizations. • People are willing to work in small and medium-sized enterprises. Some people are even trying establish their own enterprises. www.HelpWithAssignment.com
When Can Small Businesses Flourish • In many countries, the socio-political and economic environment plays a major role in encouraging or discouraging a small or a medium-scale business. • The framework in a country such as the formalities, hindrances on funds allocation, the tax laws and the bottlenecks in the particular industry play a major role in the development or destruction of small business. www.HelpWithAssignment.com
Hindrances To Small Businesses • In some countries the traditional and conservative attitudes, prejudices and misconceptions of the people also play a major role in the discouragement of small businesses. • These conservative attitudes, misconceptions and prejudices narrow down the observation of a person resulting in not grabbing a huge potential or an opportunity in hand. www.HelpWithAssignment.com
Hindrances Contd…. • Apart from cultural aspects, economic aspects such as total lack of or under-availability of resources and lack of capabilities determine to a great extent of the success of the business. • But, some entrepreneurs survive and triumph even in the negative scenarios. Some of the determinants for their success include: www.HelpWithAssignment.com
Innovation • Innovationis the biggest factors for any entrepreneur. There are so many businesses coming up. • But, the most innovative among them will survive. Innovation acts like a shield in the cut-throat competition. • Businesses which do not innovate quickly will not be able to survive in the cut-throat competition. www.HelpWithAssignment.com
Availability Of Adequate Finances • Finance today, is another, big handicaps for any business. • Availability of cheap finance is a promise for the business to bring in more resources, more minds and hands in action. www.HelpWithAssignment.com
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