Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
26 Cards in this Set
- Front
- Back
|
Small and Medium-sized enterprise |
A firm with fewer than -500 employees in the United States -250 employee in the European Union |
|
|
Entrepreneurship |
The identification and exploitation of previously unexplored opportunites |
|
|
Entrepreneur |
Founders and oweners of new business Manager of existing firms who identify and exploit new opportunities |
|
|
International Entrepreneurship |
A combination of innovative, proactive and risk-seeking behavior that crosses national borders and is intended to create wealth in organization |
|
|
Entrepreneurship and Institiion based view |
-its depended on formal institution government how they start -the ease for example of registration, licensing and incorporation -informal still important |
|
|
Entrepreneurship Resource based View |
Must create VALUE Resources must be RARE Resources must be INIMITABLE Entrepreneurial resources by be ORGANIZATIONALLY embedded |
|
|
Institution, Resources and entrepreneurship |
Institution Based view + Resource based view (Formal Institution) Value Informal Institution Rarity (Both at home & abroad) Imitability Organization = Entrepreneurship Growth Innovation Financing Internationalization |
|
|
Growing the Entrepreneural Firm |
1. Growth 2. Innovation 3. Financing |
|
|
Growth |
-excitement in growing new firms is the very thing that attracts them -an attempt to more fully use current underutilized resources and capabilities -leveveage intangible vision -to grow (even wi/o tangible resources) |
|
|
Innovation |
-Heart of entrepreneurship -More sustainable basis for competitive advantage -Entre; uniquely ready for innovation |
|
|
Finacing |
-All start up need capital -4F of of financing |
|
|
4Fs of Entrepreneurail Financing |
1. Founder 2. Family 3. Friends 4. Fools* |
|
|
Microfinace |
-Lending small sums ($50-$300) -used tos tart small business with the intetnion of -ultiately lifting the entrepreneurs out of poverty |
|
|
Inernationalizing the Entrepreneurial Firm |
-Mytht that only MNE can do global and SME statys local -based on historical sterotypes |
|
|
Born Global firms |
-International new venture -A start up company that attemtps to do business abroad for inception |
|
|
International Strategies for Entering Foreign Markets |
1. Direct Exports 2. Franchising/Licensing 3. FDI |
|
|
Entering Foreigh Marktets: Direct Export |
-The sale of products made by firms in their home country to customers in other countries |
|
|
Sporadic Passive Exporting |
-SME and foreign customer The sale of products prompted by unsolicated inquries from abroad |
|
|
SME and export transaction -Letter of credit (l/C) |
-Use to overcome the lack of trust -A financial contract that states that the importers' bank will pay a specific sum of money to the exporter upon delivery of the merchandise |
|
|
Entering Foreigh Marktets: Licensing |
Firm A's agreement to give Frim B rights to use Frims A's proprieetary technology or trademark for a royalt fee paid to A by B This is typically done inmanufacturing industires |
|
|
Entering Foreight Markets /Fransching |
Firm A's agreement to give Frim B the right to use As proprietary assests for a royalt fee paid to A by B This is typically done in service industre |
|
|
Stage Model |
-Model of internationalization that invlves a slow step by step (stage by stage) process a firm must go through to internationalize it business |
|
|
International strategies for statying in Domestion Markets 5 strategies |
1. Export Indirectly 2. Become suppliers for foreignn firms 3. Become licensees or fanchisees of foreigh brands 4. Become allicance partnets of FDI 5. Harvest and exist through sell offs |
|
|
Indrect Export |
- A way for sMEs to reach overseas customrs by exporting through domestice based export interediarias |
|
|
Exper Intermediary |
A Frim tha acts as a middleman by linking domestic sellers and foreign buyers that otherwise would not havee been connected |
|
|
Entrepreneuner and implication for actions |
1. Push for institiuon that facilitate entreprenewuship development, both formal and informal 2. When internationaizing by bold but not too bad |
