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R RE ES SE EA AR RC CH H C CO OM MM MU UN NI IC CA AT TI IO ON N
ABSTRACT
The last decade of the 20th century has shown that modern changes can occur in a short period of time in a short period of time in our modern economic history. If we look our rear view mirror, we will notice our bridges for travel no longer constrain us to a limited portion of a specific state, country or Governing country. The roadmap has been extended beyond borders, which has changed the scope of our national and global market place. Many people have cruised the globalization steering wheel down the information superhighway. Many organizations have sped this journey up through the development and changes of corporate compatibility. Some people have placed their vehicle on cruise control making sure to stay on the path that on the path that leads through each valley, Canyon, and causeway. What is the purpose? Who will be the one behind the wheel establishing the new face of International expansion? The spirit of international Entrepreneurship is a major contributing factor that has affected the way people expands their horizons. No longer does one feel that their Road to Entrepreneurism stops within the borders of their own country. The key elements of Entrepreneurial drive and the economical, political, technological and social changes that have occurred over the last decade have dramatically created business opportunities for global business. Keywords : Entrepreneurship, Technology, Economic Compatibility, Global Market, International Markets.
1. INTRODUCTION
The entrepreneurs provide a magic touch to different area, whether urban, rural, and international sector. International Entrepreneurship has led pioneers and others down the paths of entrepreneurship freedom stopping at every nook, corner, and valley to find out the opportunities that will unfold in todays emerging international
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Assistant Professor, Business Administrative Department, Doon Business School, Dehradun, Uttarakhand, INDIA. *Correspondence : coolvipinchoudhary777@rediffmail.com
Vipin Chaudhary et al / VSRD International Journal of Business & Management Research Vol. 2 (5), 2012
markets.
2. ENTREPRENEURIAL COMPATIBILITY
Entrepreneurial Drive is a society that is unlike other organizations existence in todays global economies of scale. The Entrepreneurs passion is to conquer and seize opportunities that most individuals would not tackle and do not have the emotions to stomach. Their motivation is one of pro-activeness in their initiatives to be a steward for change through innovative products or services. They have a creative mind that can think independently about ideas of success and failure. Most Entrepreneurs are known for their hard work and their dedication to their respective businesses. Entrepreneurs have established themselves as taking risk and leaders of optimism. These unique men and women make up a strong percentage of todays innovators to be the leaders of global expansion in the 21st century.
3. WOMEN ENTREPRENEUR
Women entrepreneurs have been making a significant impact in all segments of the economy in India, Canada, Great Britain, Germany, Australia and the United States. The areas chosen by women are retail trade, restaurants, hotels, education, cultural, cleaning, insurance and manufacturing The New Thrust suggests following two factors pulling or pushing women in an entrepreneurship Factors leading women to be an entrepreneur: Women entrepreneurs choose a Women takes up business enterprises to Profession as a challenge and an get over financial difficulties and respond- adventure with an urge to do some - suability is thrust on them due to family -thing new, liking for business and circumstances to have an independent occupation. With the spread of education and new approaches/awareness, women entrepreneurs are achieving higher level of 3Es, namely: (i) Engineering (ii) Electronics (iii) Energy. Though we should not forget certain Psycho-Social Barriers which hinders the growth of women entrepreneurs.
4. OPPORTUNITIES
Free entry into world trade. Improved risk taking ability. Governments of nations withdrawn some restrictions Technology and inventions spread into the world. Encouragement to innovations and inventions. Promotion of healthy completions among nations Consideration increase in government assistance for international trade. Establishment of other national and international institutes to support business among nations of the world. Benefits of specialization.
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5. CHALLENGES
Problems of raising equity capital Difficulty in borrowing fund. Thought-cut completions endangered existence of small companies. Problems of availing raw-materials. Problems of obsolescence of indigenous technology Increased pollutions Ecological imbalanced. Problems of TRIPS and TRIMS. Exploitation of small and poor countries, etc
6. SUGGESTIONS
Govt. should provide separate financial fund of womens entrepreneur. We should provide her special infrastructure facilities whatever she deeds. Govt. should arrange special training programmers of women entrepreneurship Govt. should felicitate top ranked womens entrepreneur. Women entrepreneur should more competitive and efficient in the local & international market. Use should invite successful women entrepreneurs from foreign countries.
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Hard worker and so is their environment Optimistic-Uncertainty does not bother these types of individuals. Innovator- The strongest quality of an Entrepreneur The ability to be a Risk taker The ability of an entrepreneur linked to their leadership as a Visionary An Entrepreneur is a Leader
The Entrepreneurial drive seizes opportunities that will benefit them both personally and professionally. Entrepreneurs have a tendency to be a hard worker and they carry these same Expectations into their environment. Optimism drives their spirit and the uncertainty does not bother these types of individuals. The entrepreneurial spirit establishes ones ability to be a risk Taker and have a vision for the success of their idea. They have to be innovators to the products. And services they sell and a leader that reflects the environment of their strategic vision.
by major organizations like GM, Volkswagen and other major automobile manufacturers are
drastically expanding their Operations in China. The behemoths have faced several roads that are hard to overcome because Of their intensive size and labor costs. The corporate streamline of a major multinational Organization only absorbs the ideas of a loose idea thinker.
With intensive operational cost, small entrepreneurs and businesses have been able to seize the
opportunity in the international markets of China. Many corporations have faced the difficulties of working with Multinational corporations and the powers of strategic alliances in the China markets. Small businesses like Robert Kushners Pacific China Industries Ltd. have been able to open the gates of China and have been well received in the Chinese market. One contributing
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factor to their success as a small business entrepreneur is the research and study time placed in the international markets with a smaller team focus and a smaller scales strategy that has captured the short-term audience of the Chinese market.
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Roberts personal savvy led him to China. His professional drive helped him to understand
the cultural differences that would lead to the expansion of his companys products and services.
It has developed adverse effects on short and long-term interest rates. The traditional distribution
structures in Japan, Europe and other countries have seen rapid changes to entry barriers into key markets for small business that offer products and services
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integration. According to the U.S. Department of Commerce, between 1987 and 1999, the number of small and mid-sized U.S. exporters more than tripled, to 224,000. By 1999, 97 percent of American exporters were small businesses, though smaller exporters still only accounted for one-third of total U.S. export sales.
Organizations like the World Trade Organization (WTO) were formed to help the social, political, and
economic changes that will lead the global economy to the future victories in the International Trade and Policy. When an entrepreneur is formulating a strategic decision to enter a global market you should keep in mind the different geopolitical challenges. You should know your state of controllable and uncontrollable initiatives when entering a market. With the continued strengthening for opportunities in international entrepreneurship one must focus on the continued strengthening and creation of regional market groups:
15. EUROPEAN UNION (EU) NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA)
ASEAN FREE TRADE AREA (AFTA) FREE TRADE AREA OF AMERICA (FTAA)
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SOUTHERN CONE FREE TRADE AREA (MERCOSUR) ASIA-PACIFIC ECONOMIC COOPERATION (APEC)
The market groups have enabled entrepreneurs into emerging markets and help to protect policy and practices of business worldwide. Entrepreneurs will constantly have to examine the way they conduct business and remain flexible enough to react to the rapidly changing global trends to be competitive. When an entrepreneur seizes an opportunity in global markets there are several factors he or she should consider to entering an emerging market for global business: .
that the world has become a global outlet and community. In return, entrepreneurs have become capable of working with people from different cultures. Globalization has led many organizations to adapt to working with people of different ethnic decent and understanding the opportunities to work with managers in different markets representing different cultures. To work effectively in different cultures, entrepreneurs must understand the significance of the cultures they wish to build relationship and customer rapport as well as adapt their management style to their differences.
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The Political and Social Integration of big emerging Markets (Asia, Eastern Europe, Japan, and China). The economic spurt evolving in global middle-income households. The collaborative qualitative and quantitative research conducted by organizations through strategic alliances, corporate and functional development in major corporation and small business.
Trends in channel structures in Europe, Japan, and developing structures Ethics and Social Responsibility in todays global environment.
An entrepreneur must understand all of the facts and assumptions to entering his idea into the global market space. Once this steward has assessed their organizational core competencies, they must evaluate the alternative approaches to make a successful launch into the 21st century with their newfound business product or services. These strategies will be discussed in later chapters of this book. The Macroenviroments, Economical, Political, Social, and Market driven/technology demands need to be examined as possible causal factors in the success or failure of international entrepreneurship. The right drive, the right passion and the right strategic window will lead unique men and women to be the revolutionary business leaders of global expansion in the 21st century.
23. REFERENCES
[1] Pride, W, Ferrell, O.C, Marketing and its Environment. Marketing Concepts and Strategies (Boston: Houghton Mifflin Company, 2000). PP 79-107. [2] P. Cateora, J. Graham, International Marketing 10th Edition (Boston: McGraw-Hill, 1999). [3] J. Kurlantzick Promised Land, Entrepreneur Magazine, January 2004, pp66-69. [4] J. Kurlantzick Promised Land, Entrepreneur Magazine, January 2004, pp66-69. [5] J. Kurlantzick Promised Land, Entrepreneur Magazine, January 2004, pp66-69. [6] Choon Lee, The Global Implications of the U.S. Fiscal Deficit and of Chinas Growth, World Economic Outlook, April 2004, p. 63.
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[7] Choon Lee, The Global Implications of the U.S. Fiscal Deficit and of Chinas Growth, World Economic Outlook, April 2004, pp. 63-66. [8] Joshua Kurlantzic, International Success in Todays World Economy, Entrepreneur Magazine, February 2003. [9] Joshua Kurlantzic, International Success in Todays World Economy, Entrepreneur Magazine, February 2003. [10] Robbins, Stephen P, Challenges and Opportunities of Organizational Behavior, Organizational Behavior 10th Edition (New Jersey: Prentice Hall, 2003), p. 14 [11] P. Cateora, J. Graham, Dynamic Environment of International Trade, International Marketing 10th Edition (Boston: McGraw-Hill, 1999), p. 40 [12] Miller, D., & Friesen, P. (1985). Innovation in conservative and entrepreneurial firms: Two models of strategic management. Strategic Management Journal, 3, 1-25. [13] Hayes, R. H., & Abernathy, W. J. (1980). Managing our way to economic decline. Harvard Business Review, July-August, 67-77. [14] Adapted from www.cisco.com/archives/newsreleases/ Cisco Systems. June 2001 [15] Kanter, R. M. (1985). Supporting innovation and venture development in established companies. Journal of Business Venturing, 1, 47-60.