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International Entrepreneurship

International Entrepreneurship . Just How Big Is It?. Source: http://money.cnn.com/news/economy/world_economies_gdp/. Just How Big Is It?. But what is a trillion? Conceptualizing one trillion 1 trillion seconds = 32,000 years $1 trillion = About $3,000 per American

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International Entrepreneurship

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  1. International Entrepreneurship

  2. Just How Big Is It? • Source: http://money.cnn.com/news/economy/world_economies_gdp/

  3. Just How Big Is It? • But what is a trillion? • Conceptualizing one trillion • 1 trillion seconds = 32,000 years • $1 trillion = About $3,000 per American • The entire global economy is about $72 trillion dollars! This would take you to the moon and back 9 times with your stacks of $1000 bills!!!

  4. Entrepreneurs Aim to Fill In Holes • The world is experiencing troubling unemployment. • The world is moving toward a global food shortage. • The world is experiencing massive poverty and deplorable living conditions.

  5. Entrepreneurs Aim to Fill the Holes • Desalination and increased, safe food production • Technologies that increase our safety and productivity • Problem solving, take time for example

  6. Holes in International Trade • Education • And adult education • Engineering • Arms development, automotive production, infrastructure improvement • Health Care • IT, elderly home care, private firms to provide care on the next level • Transportation • Country-narrowing high speed rail service, efficient trucking, environmentally friendly combustion/propulsion

  7. The Wine Value Chain:Entrepreneurial Opportunities Abound • Starting a Winery: The Jim Nantz Story • Celebs! • Dave Matthews, Mike Ditka, Nancy Pelosi, David and Victoria Beckham, Brangelina, Francis Ford Coppola, Gerard Depardieu • About a 7% profit margin business :/

  8. Expatriate Stories The D’Aulans, owners of Alta Vista Andeluna Cellars, Ward Lay English and Associates

  9. Why Should Firms Go Global? • Enhance local sales • Extend product life cycle • Economies of scale • New, cheaper labor markets • New global suppliers • Global expansion requires a new, different mindset! • Differences in entrepreneurship from country to country…

  10. Modes of Entry • Easiest way to go global: • Via the Web • 1.02 Billion users worldwide; 75% outside the U.S.! • Small companies only generate 29% of export sales! • Other methods: trade intermediaries, EMCs, ETCs, agents • U.S. Export Assistance Centers • National Trade Databank

  11. Modes of Entry • Other Methods of Internationalizing • Joint ventures • Licensing • Franchising (master franchise) • Countertrading/bartering

  12. A GLOBAL CASE EXAMPLE • Toms Shoes • 2006 – Blake Mycoskie took simple shoe design to try to implement “social business” model • Used technology company profits to help fund manufacture • One millionth pair of shoes given in 2010 • Annual “One Day Without Shoes” • Criticism – putting local show maker out of business! • 85% of people feel more positively about companies with social agendas

  13. Planning Your Move • Export Center • Figure out where your product might fit • Develop a distribution and retail strategy • Problem inherent in setting up a payment.

  14. Importing • 28-year-old entrepreneur in India, who created an accounting firm – importing labor! • Must make sure importing is for you, and that you can keep an eye on quality • Do careful research on how much your outsourced functions should cost! • Be certain about cultural differences!

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