International Entrepreneurship and Economic Development: Lessons from Jeff Bezos and Amazon

This report explores international entrepreneurship and economic development with a focus on Jeff Bezos and Amazon. It covers motivation, trait and effectuation theories, technological entrepreneurship, and the role of international entrepreneurship in economic development. The report concludes with lessons learned and opportunities for success.

INTERNATIONAL
ENTREPRENEURSHIP

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................3
Motivation to set up venture ......................................................................................................4
Trait theories for Jeff Bezos........................................................................................................4
Effectuation theories by SARASVATHY..................................................................................5
What lesson can we draw from Jeff Besoz related.....................................................................5
PART B............................................................................................................................................6
Concept of technological entrepreneurship.................................................................................6
Key features of Amazon such as follows:...................................................................................6
Capturing common debate on Technological entrepreneurship..................................................6
Conclusion..................................................................................................................................7
PART C............................................................................................................................................7
International Entrepreneurship and economic development.......................................................7
Abstract.......................................................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................7

INTRODUCTION
International entrepreneurship (IE) refers to the research which draws on notion for
contributing about the economic sustainability that are benefits for market integration and
globalization in economy also help for the foreign market exchange for small scale industries to
become an important government policy (Baker and Welter, 2020). The report is based on the
Jeff Bezos who is an international entrepreneur. The report consist of two parts one is CW1 amd
CW2, CW1 has the element of part A and B in which theories and concepts are explained as well
as CW2 is covered the topic related to economic development and opportunities.
PART A
Jeff Bezos is an international entrepreneur and founder of Amazon that is the largest e-
commerce place for buying and selling the product via digital technology to millions of
customers every day. This venture is start from the book seller then it online books in order to
provide wide variety of books to the customer. Now he is the CEO and founder of Internet giant
Amazon. He also has the substantial traditional investment related to real state also has the
significant number of the shares for different companies.
According to Kirzner it is refers that an attitude for receptiveness that is available for the
opportunities. Also, it has been seen that entrepreneur has the sense so that he/she can smell the
extraordinary opportunities (Dana and Ratten, 2017).
According to Hisrich, it is defining that entrepreneurship is an activity that can create new
value with devoting the necessary effort and times that are assume accompanying the financial,
social risk and also can have the ability of receiving the reward. In terms of monetary as well as
personal satisfaction which is related to interdependence.
Motivation to set up venture
 Motivation factor for Jeff Bezos is related to his prior experience because s he was
working in the qualitative hedge fund, where high salary paid to him but on that time, he
left the job and start his own online company for selling books out of his garage.
 The push factor in his journey is belonged to his dream and that is why he follows his
dream and great over the good. His education was completed from Princeton University
in the year 1986, with bachelor degree in electrical engineering and computer science.
Further he is influence by his family in order to saw his mother and father. His mother

was only seventeen-year-old when Jeff was born and father is 18-year-old. Also, his
father was a poor man and worked in a retail store (Jafari-Sadeghi and Biancone, 2019).
 These familial influences help in development of entrepreneur, both of his parents
motivate him a lot and that is why he got success in very early age.
 The motivation concept and theory are used by Amazon is related to Herzberg theory
that has certain element in the workplace which creates job satisfaction and the other
factor is dissatisfaction. The entrepreneur was fall into the first category in which it falls.
Trait theories for Jeff Bezos
It is approach that are studying about human personality which includes all the
measurement related to thought, habitual pattern of behaviour and emotion. According to
Burns, this transforming leadership is the process that were mutually exclusive styles.
Entrepreneurs are self-made person on the basis of their dedication, goal etc. (Mainela,
Puhakka and Sipola, 2018). Trait theory is founded in leaders who have different
characteristics in order to become successful or unsuccessful. It is effective leadership
usually it is identified for the characteristics which are leading effectively. In this case
study there are list of trait personality openness to experience, conscientiousness,
extraversion, agreeableness, neuroticism, honesty-humility, self-esteem, harm avoidance
etc. In this modern era, it is very important to being courageous. In context to Jeff Bezos,
he has psychological traits and also wondered that he has very determined in the life that is
why he got success in very early age. For the success determination are able to preserve in
face of obstacle. The trait theory approach believes in leaders are born not made because
there were many opportunities and problem faced by the entrepreneur during the expansion
of Amazon but that time the focus is on the determination then it worked well for him.
Another, factor is related to the intellectual or openness for continuous waiting for new
opportunities in order to supplier data amazon collects and consumers.
Effectuation theories by SARASVATHY
This theory of effectuation described an approach that is related to decision-making and
performing the actions while process of entrepreneurship. In this proves it can identify the next
and best step for assessing the available resources in context to achieve the goals for
continuously balancing these goals with available resources (McKenny and Ireland, 2017). From
all these principles Jeff Bezos is fallen into Lemonade principles in which surprise and mistake

are inevitable and that can be used in order to look for new opportunities. In this principle
Amazon has suffered from the up and downs at the initial stage but the time passing according to
business grows and customer base also increases. At the time of beginning the name of company
is Cadabra but after some time it is changed and named it Amazon. There are various services
and products offered by the company products are such as clothing, groceries etc. and services
related to cloud computing which is also called Amazon web series.
What lesson can we draw from Jeff Besoz related
Jeff Besoz is very inspirational and there are many lessons were by him, his leadership-
style working well for Amazon in order to get success. There are some lessons which are learned
by him such as:
 The vision matters in any organization for its growth and success, the long term vision
perspective is very important., also customer-centric theory help for finding and discover
everything.
 Being committed with the audience is very important in order to get success it has been
seen that amazon has many customers and fan following at the social media it has
regularly updated for the discount and new product launched by the company.
 It is very important to know the market because for the great product good strategy need
in order to maintain growth of the company (McMullen, Brownell and Adams, 2021).
PART B
Concept of technological entrepreneurship
The theme chosen for this report is technological entrepreneurship that defines an
investment for project which deploys and assemble for specialized individual related to
heterogeneous assets. This helps for gaining knowledge and creating the new value of the firm.
Key features of Amazon such as follows:
 The interdependence of between technological and scientific change are helps for
selection of new product and use the technology accordingly.
 It is helps to eliminate the existing biases related to entrepreneurship literature, also help
for formation of new firm (Parente and Botti, 2018).
 This technological entrepreneurship are related to the theory that are sustainable use of
competitive advantages because it is the concept of creating the value.

There are massive technology which keeps Amazon running for entirely Linux-based,
artificial intelligence worked well for Amazon in order to get success. Also, company has
recently launched and developed a lot of new technologies such as Amazon locker, prime air and
Amazon go these services are the first development that were created in 2011 and also
relaunched in 2018. Investing in technologies are worked well for the organization because it
enhance the logistic application and this is improving the web series with fulfilment capacity.
Jeff Bezos maintaining the competitive advantage in order to cooperate with the sustainability
for operations strategies such as customer differentiator, focus strategies and customer
differentiation. The strategies follow by Amazon is low cost- leadership that is pursued in order
to differentiate the firm on the basis of price (Ramoglou and Tsang, E.W, 2017).
Capturing common debate on Technological entrepreneurship
According to Kirzner it has analysed that technological entrepreneurship is help for
bringing people together because it makes easy in order to communicate with co-workers and
also collaborate by using various applicant interactions so people are not able to understand the
emption of the particular persons. Also, it has identified that it saves money and cost stations
such as slacks and stride. On other hands it is very distracting to replace the face-to-face
providing various types of services at homes. Amazon provides wide number services to its
customer and get benefit from them. Beside this, It raises the concerns related to privacy because
there are many peoples who are going to hack the data and get all the related reports. That can be
impacted bad on the organization (Reuber and Zhou, 2018). It has also worked on the poverty
because it has influences many people that they are like to study but because of it there are
people who are want to study and there are so many institutions and colleges are opened by
entrepreneur and that is why it has influenced in a positive. The dependency theory arises
analysing when it has explained the flow of resources of the poor and also has the understates
wealthy states which are enriched the expense for the formers. Foe example, Africa has launched
more than 150 colleges with the help of international entrepreneur and because of this there are
so many people re getting help and continue their studies and avoiding going outside for further
studies. Also, founder of amazon has provided there are various services and products offered by
the company products are such as clothing, groceries etc. and services related to cloud computing
which is also called Amazon web series. There are good number of discounts given by the

entrepreneur in order to attract the customer and it has also helped for further mainyaining the
reputation.
Conclusion
It has been analysed that there are different motivation factors that influence Jeff Bezos in
order to establish the firm such as family factor and his experience push top get success. Also,
explained that entrepreneur is born for getting success. Then described the theories which are
given by SARASVATHY and applied Lemonades principle. Also, explained the features of
technological entrepreneurship for Amazon. On the basis of debate it has been analysed that
there are different aspects of this them.
PART C
International Entrepreneurship and economic development
Abstract
This report is based on international entrepreneurship and economic development in
order to explain the features theories and opportunities for this. Economic development is related
to essential means of process for upward change where per capita income of the country is
increased over the period (Sadeghi and Dana, 2019).
Introduction
International Entrepreneurship and economic development are based on the entrepreneur
who are based with his knowledges and flexibility these two are very significance factor of the
economy which are the source of competitiveness for which global economy increases.
Entrepreneurship is refers as the process which are including factors related to psychological,
sociological and psychological. It is more than mechanical economic factor which are changed
according to time. International entrepreneur are refers to the person who are likely to set up the
business at global level as well as there are many successful entrepreneurs such as Bill gates,
mark Zuckerberg, Steve jobs, Jeff Bozos etc. All of them are get success in very early age had a
good experience. International entrepreneurship refers to the combinations of proactive,
innovative and risk seeking behaviour across national borders and intended for creating the value
of the organization.
Entrepreneurship is focused on the economic growth of the country as well as at global
level, this is also affected on the basis of increasing the competition and increases in diversity for

particular product or services which are offer by the organization. There are very sudden change
that are seen in the economy on the basis of international entrepreneur because it is the process
which help for upward change in the per capita income of the country within a particular period.
Also, entrepreneur are play important role in order to get success and also help the economic in
growth. There are innovative technologies are used by the entrepreneur and that is why it helps
to get trading the products with the helps of innovative technologies. Increasing in competition
help the organization to become more powerful and raises the productivity of the company.
Economic development also defined in order to increase the wealth of the company and standard
of living.
Role of international entrepreneur in economic development
Entrepreneurship is played very influential role for economic growth, these are the
factors that help in economic development such as:
Wealth creation and sharing- For any start-up and established business, the first need is
related to the investment which can be in the form of owners resources and capital. These capital
are attract the investors, public and lenders. It is also mobilized the resources in which attract the
public wealth and also allow for then to benefit the organization for getting success and helps to
grow the business. There are the kinds of the pooled capital which are helps to create wealth and
distribute it for public for maintaining the economic development (Tabares and Escobar-Sierra,
2021).
Create jobs- The nature of entrepreneur are creating jobs for seekers whether they are
belongs to nation or international. There are so many students are get the opportunities in order
to do job and training in the multinationalism company. It increases the employment as well as
different opportunities for job seekers. Government has launched many opportunities such as
smart-up India for attracting the people who are wants to start-up their business.
Balanced regional development- Entrepreneurs are setting up the new business that are
help for regional developments for which those are from local or backwards areas. The growth of
the industries are and business are lead for improvement such as rail and roads, airports,
shopping malls etc. For example Tesco has established from UK but it has its market all over the
world but In UK there are large number of employees working in it.
GDP per capita income- There are more than 400 million units are provided for
employment and it is helps to contribute more than 58% of GDP. The land, labour and capital are

help to developing the product or service in order to add national income, per capita income and
national products. This is the essential growth of the company by increasing the GDP and per
capita income for completing the essential goals (Pruthi and Mitra, 2017).
Standard of living- It is also helped to increase the standard of living of the people
because when the country is developed it gives more and more opportunities to people and it has
directly increases the standard of living of people. It helps to developing the innovation so that it
can improve the quality of the employees, stakeholder and customers in community. There are
various types of communities which are come together and established the business so that it
helps to reduce the production cost that will help for faster the production. It makes the business
more productive while provide same good at lower price.
Exports- For any industry it is very import to export the product and it helps to develop
the international business and it creates global business to the foreign markets. For example,
Amazon has large number of customer all over the world and that is why it has produced large
number good for its customer. That is why it helps to export the product and it is increasing the
growth of the organisation. There are large number of technology used in the international
entrepreneur in order to get provide innovative products. It leads the company to expand the
business and increasing more revenue during the local economy.
Community development- It helps in community development that are related to require
more infrastructure for training and education, public services and healthcare. For example, there
are high demand of skilled worker and that is why community attract by this for providing large
number of work opportunities for the company (Sihombing, 2018). Such as Azim Premji,
chairman of Wipro Ltd has donated 36,000 crores in context to promoting the education by his
foundation. It has also provides opportunities for people who are like to complete internship with
this foundation. So this is very important role of an entrepreneur for sparks and developing new
business.
Max weber theory of entrepreneurship
Max weber has argued that it is the development for entrepreneurship and it is depended
on the ethical value of community involved and spirit the industrial growth that depends on the
use of technology for acquisition of money.
It has been analysed that this concept is much focused on the economic growth there are
examined the relation in order to gross domestic product which are may be U-shaped. There are

positive impact on the economic growth and it is helped that there are more than link between
the development of economic (Choi and Bang, 2019).
Theories of international entrepreneurship and economic developments
This is the universal fact that entrepreneurship is very important factor that help for
economic development because the risk related to this is risk bearer that can be worked under
uncertainty. The theories are as follows:
Innovation theory- From this theory it helps to introduced new product with high
quality, also used the new method for the production. When the opening of new market it is
important for understanding the nature as well as the source of supply of raw material are
manufactured where sources are already created. For example, Mark and Spencers are started
their journey by producing the retail store for clothing but at the period the store converts into all
categories of products which are help for introducing innovation of the store. This innovation
helps the organization in order to get success and increases the consumer base.
Status withdrawal theory- In this theory internal entrepreneur are help for formulating
the social change and this change explains about the values and status of respective society and it
is turn for innovation in the society. For example, Tesco has large number of customer and it has
also organized the program which are help to society in order to development of entrepreneur
(Ferreira, Fernandes and Ratten, 2017).
Theory of leadership- This theory of leadership is including all types of functions that
are related to the managerial and leadership business that is secondary importance. According to
Hoselitz, it has been explained that a person who is has industrial entrepreneur gets more profit
and amass wealth. There are different types of leadership such as managers, entrepreneur and
lender. Also, money lender are more focus on the market that is also called authority oriented.
An international leader has more responsibility in order to take care of the global business
because the performance are more likely to help the growth of business.
Theory of modern personality- This theory is based on the cultural, modern and social
aspect of the person which can determine the supply of entrepreneur. Also, in this theory it has
been analysed that there are different types of responsibility are taken by the person. Then to
become modern personality it is important to have social aspect and do something for the nation.
There are three factors that can be influenced the personality of the person such as attitude and

occupation, role expectation and operational requirement that are related to society's value and
the most determination are related to role expectation and attitude.
Discovery theory- This refers to the opportunities that can be by the entrepreneur in
order to get influence others and identified the opportunities for expand the business. There are
some different types of theories which are likely to scanning the environment. For using the
sustainable resources it is important to follow the government regulation that are help for
indicating the best purpose of the organization, Also, risk bearing is one of the most important
factor that are likely to recognizing the opportunities for innovating the business. When the
entrepreneur are like to bear the risk he might get success in his business and it has help to get
more investors for assuming about the future profit (Zahra, 2021).
Creation theory- This theory is focused on the creation of enterprises, that are similar
for opportunities and this assumption is such as opportunities are subjective in nature. This is the
creation that are help to get the opportunities in order to get success. There are various types of
creation needed for the business. Fore example, Samsung has the opportunity for developing the
new product and products in market are reasonable successful and flattering the improvement of
marketability. Only individual can understand the upcoming opportunities.
Conclusion
From the above section it has been chosen topic is international entrepreneurship &
economic development, Also, report has explained about the meaning of international
entrepreneur and how it helps for the economic development. Also, identified the factors which
are likely to help international business growth on the basis of innovation. Moreover, Explained
the role of entrepreneur in the economic development. Further, described the theories related to
this in order to consider the different factors.

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