International Entrepreneurship and Business

This assignment is a compilation of research studies on international entrepreneurship, covering various aspects such as business model adaptation, opportunity recognition, social engineering strategies, and the impact of entrepreneurship on economic development. The studies are from diverse countries and regions, including Finland, Indonesia, Nigeria, and Russia. They provide insights into the entrepreneurial behaviors, skills, and competencies required for success in international business environments.

INTERNATIONAL
ENTREPRENEURSHIP

Table of Contents
INTRODUCTION...........................................................................................................................3
CW1.................................................................................................................................................4
International market entry strategies...........................................................................................4
CW2.................................................................................................................................................9
1.Critical Evaluation Of Franchising...............................................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES...............................................................................................................................13

INTRODUCTION
International entrepreneurship can be defined as approach or process which is utilised by
business to enter into new market. In the recent time people like to become entrepreneur and
want to open their own business. But very few people get success in becoming a successful
business tycoon. Present study is based on Wenzel's Backers limited. It was established in the
year 1975. Current assignment will explain various market entry strategies that can be
implemented by Wenzel's to enter into China and Germany successfully. Furthermore, it will
reflect on learning as a result of undertaking models of market entry strategies.
CW1
International market entry strategies
Covered in video presentation
CW2
1.Critical Evaluation Of Franchising
Franchising is one of the greatest business model. It is the best way to expand your
business across the various regions of the globe it is one of the best way to run the business on
other's capital. Franchising has its advantages as well as disadvantages too. Franchising is based
on a marketing concept which can be adopted by an organization as a strategy for business
expansion. Where implemented, a franchisor licenses its know-how, procedures, intellectual
property, use of its business model, brand, and rights to sell its branded products and services to
a franchisee. In addition to a well-known brand name, buying a franchise offers many other
advantages that aren't available to the entrepreneur starting a business from scratch. Perhaps the
most significant is that you get a proven system of operation and training in how to use it.
Advantages of Franchising -
By giving franchising to others a WENZEL can find new talents across the world, as all the
people mind are not alike all have their different opinion, different vision to see things so as
many people will join to the company the new ideas will emerge for growth, profit earning and
capturing the large market share (Hanum, and Silalahi, 2017). By providing or giving franchising
to other's a WENZEL can obtain capital as the franchisee's will pay the money to buy the outlet
of their company, so the company will be able to earn dual advantage firstly, obtaining capital by
giving its franchise to other and secondly it will also help company to expand its brand name and

share in the market. A company can also earn additional income in the form of royalties,
royalties is basically a type of rent which is paid by the franchisee to the franchisor every month
it also includes the percentage of franchisee gross sale.
A WENZEL can also increase its royalty amount by –
A company has to pay a visit to the franchisee store in order to provide the guidance to the
franchisee so the company can charge an amount for each visit. The company can also arrange
boost programme for the franchisee who are still suffering and are not able to generate sales and
revenue, so the company can organise boost programme for them in which additional training
will be provided to the franchisee's. The company can also provide temporary personnel to the
franchisee who is new to the business in order to assist them and their staff so that if there is any
issue in the working of the store or any other major issue it can be detected at an early stage. The
franchising will also help company to reduce its burden of employee management as the
franchisee will recruit the employees for his store according to his requirement so the company is
relived of this burden of employee management. The Franchise agreement is extensible which
means that a company can make changes in the franchise agreement according to its needs. By
franchising the WENZEL company will get motivated franchisee's as the person will invest his
own money so he will be eager to get more return and to expand their business.
Disadvantages of Franchising -
Sharing of power or control if WENZEL give franchise to others, then the company doesn't
hold the absolute control over the franchisee's store, the franchisee will follow companies norms
but it totally depends upon the franchisee that how they operate the store (Masárová, and
Hančovská, 2016). As the franchisee will decide where to locate the store and what type of
strategies is to be adopted. The decision regarding hiring and terminating of employees is also
decided by the franchisee, the supplier of the products for their store is also fully in the hands of
the franchisee. Damage to the companies image, if the franchisee fails to generate revenue, run
business or is dissatisfied with the companies norms than the company can be in trouble or can
even be in lawsuit. Clash of ideas can take place as the ideas or business skills and techniques
of the franchisor and franchisee may vary.
2.Failure/difficulties of franchising

Wenzel has to understand the context of the business and to maintain the proper legal
relation. It may collapse its business with its other business units (Palić, Pejović and
Pavković, 2018). The insufficient capital to run the business is also a big problem of
franchising. The main difficulty in franchising is to find a successful and experiences
franchisee in market. Franchisee runs different business at same time and the ignorance of
one business may be the reason of failure. They have to control and coordinate with their
employee. Franchisee believes that it is easy to get success but it is difficult in reality. There
is huge risk in franchising because if the profit of franchising is you’re than the loss of
franchising is also there. Wenzel carries a brand image and company name which was in the
hand of franchisee and the failure of them affect the whole business. They also face various
difficulties in expanding their communication network. Finally, franchisees enjoy the benefit
of strength in numbers. They’ll gain from economics of scale in buying materials, supplies
and services, such as advertising, as well as in negotiating for locations and lease terms. By
comparison, independent operators have to negotiate on their own, usually getting less
favorable terms. Some suppliers won't deal with new businesses or will reject your business
because your account isn't big enough.
Overcome the difficulties
To overcome the obstacle of franchising, Wenzel has to understand the proper context of
the business and all the legal terms and condition of franchising contract. They have to
consult with their familiar lawyer and with experienced franchisee to bring changes in their
contract. They have to recruit the right person in the organization. Franchisor has to provide
proper support and training to franchisee. They have to motivate and inspire their team to
give innovative idea to expand their business and work hard for their organization. They have
to expand their network of franchising through different media and channels. To overcome
the failure, they have to maintain the quality of food and provide better services to their
customer. They also have to maintain the proper network with their customer and do proper
market research before entering into franchising contract.
Opportunity recognition
Franchising gives an opportunity to expand the business in different countries. Wenzel
may appoint some experienced franchisee and take advise from them. It need less investment

of capital and also reduce the burden of loan and investment. The rewards and recognition
helps franchisee to work hard and bring some creative idea (Candra, and Soenarmi, 2017).
Franchising provides the best management team to manage the business activities and
increase the sales of the organization. Franchising is the best way of expansion of business
because franchisor have their previous experience of working and also the network area.
Applicability of process
Wenzel can adopt franchising for their organisation. It will help them to increase the
profitability and also to maintain the expenses of the firm. It will help to penetrate the market
and faster expand the business in compare to other self-own business. It makes management
simple for franchisor because franchisee has to manage the organisation.
Learning from others
Wenzel can learn from the experience of other franchising company and to their
franchisee's previous experience. They have to speak with other franchisee in the market and
prepare a proper business plan and have to follow it. Wenzel can give power to the franchisee
to make some changes in procedure if they needed. They have to study their competitor
strategy and there franchising.
Enhancement of presentation
Franchisor has to take the responsibilities of communicating the useful information to
their peers (Naim, and Mahmudah, 2018). They can use the online way to communicate with
their employees and pass the information through emails and social media apps like
Facebook, Twitter and instagram. Wenzel can organise some events to involve their
franchisee. They can also organise some training programme to improve the communication
skills of franchisee.
Influence on future practice
They can use the latest technology to expand their business like digital menu board. They
can also use the computer based system to manage their sales, revenue and expenses of the
organisation. They can upload their ads on social media.
Reflect on engagement

I was able to learn more about the franchising. It has helped me in growing and easily able to
choose my career path. It has assisted me in gaining knowledge about the chosen topic. It has
improved my skill and techniques.
CONCLUSION
From the above study it can be concluded that use of franchise market entry strategy can
be suitable as this would help in establishing the branch in new location in cost effective manner.
In addition, less risk is associated with franchise thus, company can opt this option to enter into
new market successfully. Entrepreneur has to take support of social networking sites, this would
help in building strong relationship with consumers of that locations and would aid in making
them loyal towards the brand.

REFERENCES
Books and Journals
Candra, K. and Soenarmi, S., 2017. pengaruh entrepreneurial orientation, culture organization
internal factor terhadap performance organization melalui corporate entreprenuership
capability pada umkm batik tulis di jawa timur. riset akuntansi dan keuangan
indonesia, 2(1). pp.1-18.
Garrido, C., 2015, December. The Latin American and Caribbean higher education institutions,
and the international entrepreneuship training. New oportunities with institutional
networking and Open Education approach. In 2015 International Conference on
Interactive Collaborative and Blended Learning (ICBL) (pp. 83-85). IEEE.
Hanum, Z. and Silalahi, A. D., 2017. The regulation necessity of the international financial and
banking system (a theory study with reality).
Ibidunni, A. S. and et.al., 2017. Entrepreneurship and the Knowledge economy.
Mafruhah, I. and et.al., 2019. Social Engineering Strategy of Entrepreneuship Behavior of
Indonesian Migrant Workers During the Placement Period. International Journal of
Economics & Business Administration (IJEBA). 7(2). pp.50-60.
Masárová, T. and Hančovská, E., 2016. Enterpreneurship as a part of economic integration of
migrants. in economics, management, law: problems of establishing and
transformation (pp. 8-11).
Munther, R. and et.al., 2017. Business Model Adaptation and International Opportunity
Recognition in SMEs: Evidence from the Finnish Cleantech Sector. In ISPIM
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Naim, A. and Mahmudah, S., 2018. Motivasi Enterpreneurship dalam Meningkatan Lifeskill
Peserta Didik di SD NU Insan Cendekia Kediri. JURNAL PENELITIAN. 12(1). pp.27-
44.
Narayan, A., 2019. Service portal for connecting inventors and entreprenuers with the investment
community. U.S. Patent Application 15/721,347.
Nardіello, G. G. and et.al., 2017. Economic development based on international enterpreneurship
and business tourism. Економiчний часопис-XXI. 165(5-6). pp.104-109.

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Tarasovych, L., 2017. Marketing as an enterpreneurship philosophy and a component of
inclusive development of rural areas.