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Essay On Global Entrepreneurship

991 Words4 Pages

Abstract

Entrepreneurship is a common word nowadays but with the rise of globalization, global entrepreneurship has also become a well-known word. Global entrepreneurship is the term used for the entrepreneurs who operate on global level and businesses worldwide. Global entrepreneurship is advantageous as it can also be taken by the corporate know-how and expertise which is available in other countries. As different companies have different labour markets and different set of ideas are present, there can be more variations and more innovative ideas for business products and marketing. Global entrepreneurship creates many opportunities for entrepreneurs to take advantage of the labour, manufacturing, and raw materials costs. If the business …show more content…

Global entrepreneurs are those individuals who have global knowledge and understanding along with a global network which they use to identify transnational prospects to utilize in to value creating endeavors. Not all global entrepreneurs belong to profit making businesses; many are excelling in the non-profit world too where they are creating global social enterprises. Some global leaders use global intrapreneurship, where they consume their efforts from within organizations and create more value and global prospects for it (Hisrich, 2010). This research paper will discuss the opportunities and challenges of global entrepreneurship using secondary research data and carrying out a content analysis on how global entrepreneurship is practiced. There are many opportunities that are present in global entrepreneurship for the leader who is operating in and searching for new international markets for their products. The biggest opportunity for the entrepreneur is that the sales of the business or product will likely increase as new markets in the international arena will be explored and this will eventually lead to more growth and profitability. This also helps in decreasing the dependence on the shops of the home country and gives the opportunity to explore a whole new marker of customers with different variety of tastes and

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