Part V – Growth and Development of Entrepreneurial Ventures Chapter 15 – Strategic Planning for Emerging Ventures Chapter 16 – Managing Entrepreneurial Growth Chapter 17 – Global Opportunities for Entrepreneurs Copyright (c) 2004 by South-Western, a division of Thomson Learning. All rights reserved.
Chapter 17 – Global Opportunities for Entrepreneurs
Global Opportunities for Entrepreneurs One of the most exciting and promising avenues for entrepreneurs to expand their businesses is by participating in the global market.
The International Environment “Global thinking” is important because today’s consumers can select products, ideas, and services from many nations and cultures. The Global Entrepreneurship Monitor examined 29 countries representing approximately 2.5 billion people. In the 29 countries, at any point in time, approximately 150 million people were involved in starting and growing new firms.
The World Trade Organization The World Trade Organization (WTO) was established on January 1, 1995. The WTO is the umbrella organization governing the international trading system.
The North American Free Trade Organization The North American Free Trade Agreement (NAFTA) is an international agreement among Canada, Mexico, and the United States whereby eventually no trade barriers will exist among the three nations.
The European Union The European Union (EU) was founded in 1957 as the European Economic Community and in 1992 became a full-fledged economic union.
Japan and Asia
Methods of Going International Importing Exporting Joint Venture Direct Foreign Investment Licensing
Analysis of Global Expansion Decisions Firm decides to investigate foreign markets Further exploitation of domestic markets Go No go Preliminary analysis of one foreign market Go No go Secondary data search and analysis Go No go Primary data survey and analysis Go Plan entry and operating strategy No go Review Market entry and operation Consider additional foreign markets Withdraw from foreign markets Review and control Continue or expand operations