The growth in new technologies has, in many respects, changed the world forever. Historically the entrepreneur or small business had a limited locale and limited marketplace, often restricted to their country of setup. However, across the world, these entrepreneurs and entrepreneurially-minded companies, large and small, are creating new products and services that not only improve our lives in a wide range of areas from health to entertainment, but also enhance our productivity at work..
As a global phenomenon, trading blocs such as the EU (especially former Soviet Bloc countries), Latin America and the Far East have placed emphasis on entrepreneurship as an engine of economic growth and social prosperity. The trend towards greater international involvement of SMEs is accelerated by technological advances in, for example, the internet and video conferencing facilities. At the same time, globalisation has prompted the re-emergence of local cultures which influence growth of entrepreneurship in diverse ways. We therefore perceive a tension between the global and local elements. Creating an in depth appreciation of these elements, will enable students to apply theory to inform and evaluate potential international entrepreneurial ventures. Ultimately organisations, large and small, need to be aware of the development of international business and that they can no longer rely on national trade.
Module Learning Outcomes
Upon completion of this module students will be able to:
1. Develop an understanding and the appropriate skills to create awareness in facilitating international entrepreneurship.
2. Critically evaluate the potential to develop entrepreneurship on an international basis
Mode: Coursework 100%
The assessment for this module consists of the two questions shown below you must answer BOTH questions. The total word count for this assessment is 2500 words thus question 1 should be 1500 – 1700 words in length and question 2 should be 800 to 1000 words. The answer should make appropriate use of both accurate Harvard referencing and illustrative examples to support the analyses.
1. Many entrepreneurial SME’s do not follow a planned, strategic approach to the issue of internationalisation. Most do so by means of an evolutionary strategy based on a combination of methods and options. Using relevant illustrative example for each approach, review the various options that can be used, the advantages and disadvantages these options and how the probability of success can be maximised. (60 marks)
2. The OECD suggests that SME’s have a tendency to move to markets that are geographically or psychologically close to them. Again, using relevant illustrative example for each approach, address the following two questions
a. What are the advantages of this approach? (25 marks)
b. What are challenges that are presented by moving to markets that are geographically or psychologically distant and are these more of an issue for the service or the manufacturing sector? (15 marks)
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