1. 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.

2. Chapter 17 – Global Opportunities for Entrepreneurs

3. 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.

4. 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.

5. The World Trade Organization
The World Trade Organization (WTO) was established on January 1, The WTO is the umbrella organization governing the international trading system.

6. 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.

7. 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.

8. Japan and Asia

9. Methods of Going International
Importing
Exporting
Joint Venture
Direct Foreign Investment
Licensing

10. 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