International Entrepreneurship Assignment - Wenzel

International
Entrepreneurship

Table of Contents
CW1.................................................................................................................................................4
Selecting and applying variety of models, frameworks and theories.....................................4
Hofstede’s five dimensions:...................................................................................................5
Market entry approaches :......................................................................................................6
International market entry strategy for Wenzel’s...................................................................6
Two different target markets..................................................................................................6
Research products and services..............................................................................................7
Competitors of Wenzel’s :......................................................................................................7
Critical analysis and evaluation of the data............................................................................8
Two target markets.................................................................................................................8
Market entry strategy which was used and applied by business organisation.......................8
Marketing mix and implementation and product/service changes.........................................9
Reasoning & justify all decisions.........................................................................................10
CW2...............................................................................................................................................11
Critical evaluation of Hofstede Cultural Model...................................................................11
Things which has been learnt while doing the module........................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

CW1
INTRODUCTION
International Entrepreneurship can be defined as an approach which basically relies upon
internationalisation of business organisations which influences both entrepreneur along with the
networks which has been developed by the entrepreneur regarding international market. Along
with this it can be said that Global entrepreneurship consist with different factors like enactment,
exploitation of different range of opportunities that are present at international which basically
helps in selling products and services (Albort-Morant and Ribeiro-Soriano, 2016). For present
report, organisation which has been chosen that is Wenzel’s which is looking forward to expand
its business across the boundaries. It was formed in the year of 1975 and and has since become a
favourite brand of locals in the north west London area. Along with this, assignment is going to
be divided among two different reports which will cover application and selection of different
models that will contribute in selecting an international market strategy for the organisation.
Away with this, report will also include critical evaluation at it’s end as it will result positively
for a company which might help in gaining competitive advantages.
Selecting and applying variety of models, frameworks and theories
It has been analysed that there are ample number of models frameworks and theories are
present in today’s business market which can be used by an organisation when it comes to
develop a market entry strategy through which business expansion can be done with an ease.
Along with this, globalisation has also impacted up on overall way of thinking of people that are
performing their businesses at National level and it promoted them to work at international
level rather than earning a small amount of money at regional or state level . this has also
changed or affected the social structure as well because living standards and consumption
patterns alone people has totally got changed (Burns, 2016). The first and the vital most theory
which could be used by a company like Wenzel’s i.e. Hofstede frameworks. This is selected
because it consists with five different dimensions which can help in understanding or gaining
deeper knowledge related to both national and international culture and these dimensions are
given below: