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International Entrepreneurship

BCEN 2900 Entrepreneurship. International Entrepreneurship. Enhance local sales Extend product life cycle Economies of scale New, cheaper labor markets New global suppliers Global expansion requires a new, different mindset! Differences in entrepreneurship from country to country….

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International Entrepreneurship

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  1. BCEN 2900 Entrepreneurship International Entrepreneurship

  2. Enhance local sales Extend product life cycle Economies of scale New, cheaper labor markets New global suppliers Global expansion requires a new, different mindset! Differences in entrepreneurship from country to country… Why Should Firms Go Global?

  3. Easiest way to go global: • Via the Web • 1.02 Billion users worldwide; 75% outside the U.S.! • Small companies only generate 29% of export sales! • Other methods: trade intermediaries, EMCs, ETCs, agents • U.S. Export Assistance Centers • National Trade Databank Modes of Entry

  4. Other Methods of Internationalizing • Joint ventures • Licensing • Franchising (master franchise) • Countertrading/bartering Modes of Entry

  5. Toms Shoes • 2006 – Blake Mycoskie took simple shoe design to try to implement “social business” model • Used technology company profits to help fund manufacture • One millionth pair of shoes given in 2010 • Annual “One Day Without Shoes” • Criticism – putting local show maker out of business! • 85% of people feel more positively about companies with social agendas A GLOBAL CASE EXAMPLE

  6. Export Center • Figure out where your product might fit • Develop a distribution and retail strategy • Problem inherent in setting up a payment. Planning Your Move

  7. 28-year-old entrepreneur in India, who created an accounting firm Must make sure importing is for you, and that you can keep an eye on quality Do careful research on how much your outsourced functions should cost! Be certain about cultural differences! Importing

  8. Bribery Infrastructure problems Piracy Kidnapping Dumping Problems with language Problems with culture What Can Go Wrong in International Trade

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