International Business Entrepreneurship! Essay

3386 words - 14 pages

IntroductionInternational business entrepreneurship involves in a series of research projects which are focused on new business opportunities emerging from the current period of rapid global change (Massey University Calendar, 2004), integrating fields of economics, business, marketing, sociology, management, finance and politics etc. The globalization of world economy and regional economic development create more and more business opportunities for companies that attempt to enter international markets and at the same time bring them enormous challenges to adopt complexities of social, cultural, economic and political diversities in the international context. In response to this increasing need the study of international business entrepreneurship has been emphasized on and it has received tremendous research attentions over the past years. On the one hand, international business occurs when any individual or organization is engaged in cross-border commercial transaction with individuals, private firms, public sector organizations or not-for-profit organizations (Mahoney, Trigg, Griffin and Pustay, 2001). On the other hand, entrepreneurship is a process whereby an individual or a group of individuals uses organized efforts and means to pursue opportunities to create value and grow by fulfilling wants and needs through innovation and uniqueness, no matter what resources are currently controlled (Robbins, Bergman, Stagg and Coulter, 2003). As a result, international business entrepreneurship may be regarded as the process to pursue opportunities to create value and grow in the context of international markets.Now that we know that international business entrepreneurship has become a key component of business innovation process, and plays an important role in global business literature, then how to process international business entrepreneurship is the key of the course which researches the global business environment, issues of starting a new business and successful management of the enterprise etc. The globalisation has become an irresistible trend in terms of global business environment associated with new opportunities and challenges. Identifying these challenges from different social, economic, cultural and political environment is the starting point for international business' success. On the contrary, ignorance of these challenges may make inexperience managers suffer because in high competitive global marketplace, it is not good enough for managers who only possess skills in the diverse areas of management, marketing, finance, human resource and accounting but the lack of abilities to adapt and understand different environment. For example, the brides in China wear red dresses when they are in wedding rather than brides of USA dress in white. While normally the white dresses are worn only in funeral. Lack of knowledge like this may make USA manager who is invited to a Chinese wedding by his business partner be in problems. Strategic...

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