International Entrepreneurship Opportunities

This report explores the opportunities and challenges of international entrepreneurship. It discusses successful examples of entrepreneurs who have expanded their businesses globally and examines the cultural, environmental, and food opportunities available. The report also highlights the differences between domestic and international entrepreneurship and identifies barriers such as lack of finance and information.

International
Entrepreneurship
Opportunities
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ABSTRACT
In this report it has been described about international entrepreneur opportunities that
means an entrepreneur which expands business at international level. Moreover, it is explained
about several successful examples of such entrepreneur like Steve jobs, Bill Gates, Jack Ma and
how they entered at global level. In addition, it has been discussed about entrepreneur
opportunity that is cultural, food, and how it offers platform to them. Furthermore, difference
between domestic and international entrepreneur is explained. At last it is described about
barriers in it that are lack of finance, information, and how it restrict them.
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INTRODUCTION
Entrepreneurs are those who are having creative ideas and they convert their those into
business (Rauch, 2020). An entrepreneur is consider as an agent of change as they identify
opportunities in market and then on basis of that produce products and services .It enabled in
fulfilling people needs as there are vast opportunities which exist in market thus product is to be
sold at best price. Basically, international entrepreneur opportunities means when entrepreneur
expands his business at global level. It is through different types such as export, license, and
many more.
In this report it will be described about topic of international entrepreneurship opportunities,
examples of entrepreneurs, importance, barriers, and many more.
Literature review
As per the view of (Rauch, 2020) international business is becoming enhancing vital to
more and more entrepreneurs as well as to their nation’s culture. International entrepreneurship is
consider as the conducting of the business activities through an entrepreneur all over national
boundaries. Various factors such as stage of economic development, economic development,
various types of environment and many more. Such as cultural, legal, environment, legal and
many more that makes decisions within international entrepreneurship that can be more complex
as compare to domestic. Trade has been also conducted on the basis of international for several
years in order to gain more visibility and gain momentum because of the growing of the
globalisation day by day. The concept regarding such entrepreneurship is vital as for quick
development as well as shaped through dynamics interplay. Within the modern borderless
boundaries of the business world an Entrepreneur needs to think more globally as well as acts
locally through responding differences and similarities within various parts of the world, in order
to considering their potential to access several untapped marketplaces internationally.
As per the view of Sedkaoui, (2018) Entrepreneurial opportunity means a situation where
the selling price of the product is high as compare to the production cost or here entrepreneurs
make the profit through selling their products. There are several opportunities for international
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entrepreneurship who are willing to expand their business beyond the boundaries of nation.
Such as cultural opportunity as every nation has its own cultural priority and people of that
nation love doing that but people from all over the world desire to see culture of other nations
that how they live their life as well as what are the products or things they use. Next is food taste
opportunity as Hamburger was firstly made within USA, Pizza was originated through Italy
while the noodles were first made within china. So all the nations have their own food which is
famous for their own specific taste. An entrepreneur is also takes benefits from the food taste of a
nation. He or she provide tasty food for his or her nation to the rest of the world as well as make
the international brand through it.
As per the view of (Zahra, 2020) England and New Zealand are too cold while South
Africa is warm and Columbia is too rainy. If a person is an entrepreneur from any nation then
they can go to the Nations like New Zealand as well as makes products that are required mostly
within winter and also same within the case for other nations. One of the needs to think about the
environment of a particular nation as well as gives a solution through it and also at the same time
creates an international entrepreneurship opportunity through it. There are several opportunities
of an international entrepreneurship that can also exist within filling the requirements of the
desire of local person from any nation. People from rest of the world have their own issues that
can be never understand by big brand but at the same time an entrepreneur can realise understand
the basic needs as well as gives a solution to them. There are several Franchisees that are also
making huge profit as well as selling their products within millions. According to an
entrepreneur one must think regarding profit as she or he making a new kind of brand as well as
spend time within investing in something. There are several other plenty of international
opportunities that are present within the global market.
As per the view of Rauch,( 2020 for the foreign consumer’s satisfaction, Entrepreneurs needs
to produce the goods that can fulfil the demands internationally. One significant thing that each
and every Entrepreneurs needs to be considered is within the quality of the goods internationally
and also in domestic market. Consumer satisfaction plays a vital role in order to run the business
smoothly. Therefore International Entrepreneurship is considered as utmost significant for
individuals who are living across the world. Therefore they can sell the goods within
international markets according demand rather wasting such goods through keeping them within
warehouse.
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As per the Dana,( 2018) Entrepreneurs must grow within business alongside domestic
nation as well as best time in order to move forward so that the global business is also reaches its
maturity stage. Within nation when the business is well developed then it is more vital to pick an
Entrepreneurship. The majority of the firm’s also have the fixed cost according to the high level
that can be assist to be lower as per the manufacturing cost of the goods. When the goods are
consider as selling within the international market, and then a large number of units are needed
as well as manufacturing cost decreases. Entrepreneurs who requires to complete all the
expectations of the foreign consumers needs to have to completes all the expectations of the
foreign consumers in order to give a high quality of products so that meet the consumer’s
expectations. A global Entrepreneurs will not only provide the international market but also at
the same time provides the premium quality goods within the national market.
According to the Dana,( 2018) an Entrepreneurs also learns through the expansion on the
business out of the borderlines in order to improves the relationship between its potential and
business consumers. Thus, it also develops respect as well as becomes sensitive to all consumers
and in addition to this foreign habits can be developed. When a business is going to be expand all
over the world then it can be obvious that there is a requirement in order to hire employees from
that specified nation. It is helpful in order to deal alongside consumers of that particular location.
It is also deals with the consumers of that particular country so that the staff members can easily
understand the people’s demand of residence. So international entrepreneurs are also creates a
huge amount of employment opportunities at several locations all over the world. Thus they are
the one that can looking internationally as well as starts an outlook from the world perspectives.
As per the view of Madichie. and Ayasi, (2018 there are various challenges that are
related alongside international business as some of challenges that impact the local business also
impact the internal business within the same capacity. One of the challenges that impacts
international trade is the formulation regarding global trade strategies as well as execution in
order to establish several strategies. Also cultural, institutional diversities as well as complexities
also plays a vital role in order to establish international trade patterns.
As per the view of Nowiński. and Rialp, (2016)Angel investors are becoming more
popular as compare to the venture capitalist within some industries as well as money that comes
from the fewer strings attached. Such investors can be considered as the great resources for the
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entrepreneurs who are looking for less stress as well as focuses on consumer loyalty and service,
products as well as angel investor are backing within market.
According to Madichie. and Ayasi, (2018). International Entrepreneurship is all about
availability of all types of products and expansion globally It takes lots of efforts in order to take
domestic business to the next level of the international Entrepreneurship such as attitude of the
Entrepreneur as when there is an occurrence of the negativity within mind of the Entrepreneur as
they are unable to have any type of knowledge regarding global market as well as aids has a
misconception as they will unable to set up such type of business. This attitude focuses on the
emergence regarding one of the biggest hurdles. As an international market as the Entrepreneurs
has no types of the information regarding market conditions as well as unaware of the taste of
consumer and product’s preferences. If the Entrepreneur has various links with business firm
within host of nation as becomes in order to deal with the new conditions as well as get some
data. Within case of non connections. it is also difficult to establishing as well as commence the
business. In order to expand the business within other countries as an Entrepreneur there is
always financial risk as such kinds of institutions are also unable to give any type of help. Tariff
associated to the duty that is levied on goods while they are importing. The price of such goods
rises alongside the tariff’s increase as well as also seems to be very unattractive as per the
consumer’s view. There are various hurdles that are deals alongside with through business such
as certification, bureaucracy and many more. There are various issues raises through government
in order to limit the foreign goods.
As per the view of Madichie. and Ayasi, (2018) Entrepreneurs needs to be focuses on the
fact that before entering the products within the international market has to be clear testing as
well as authentication. Such as chemical testing, testing for bacteria and many more.
As per the view of Dana,( 2018) within the success in business because of the high rise
within some illegal actions there is always host nation such as discrimination,
kidnapping ,employee violence and many more. Such unstable political scenarios are also makes
it complicated for a business in order to grab huge opportunities regarding growth.
As per the view of Giones. and Brem, (2017) the existence of lockdowns, strikes ,labour
unions as well as incline within the labour costs makes its quite difficult for entrepreneurs in
order to set up a kind of the successful business. The production of services and products can be
done within large scale alongside the assistance of international Entrepreneurship The benefit
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regarding large scale of production is also taken through from rest of the world. Also this is not
consider as only favour of the global consumers but also at the same time good regarding the
purpose of business entity in order to broaden their business globally. Nowadays international
entrepreneurship is known as innovative activities that are performed across the nations as it
means to discover as well as increases several opportunities so that creates future products as
well as services.
CONCLUSION
From report it is concluded that there are some famous examples of successful
entrepreneur, such as Steve jobs, Bill Gates, Jack Ma, etc. who have expanded their business at
global level. Alongside, there are several opportunities such as cultural, environmental, food, etc
that can be grabbed. The importance is decline in local market, maturity stage, others. Besides
that, there are various barriers of in this such as lack of info, finance, network influences and
many more that restrict entrepreneur to expand at global level.
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References
Books and Journal
Dana, L.P., 2018. African EntrepreneurshipChallenges and Opportunities for Doing Business.
Palgrave Macmillan.
Giones, F. and Brem, A., 2017. Digital technology entrepreneurship: A definition and research
agenda. Technology Innovation Management Review, 7(5).
Madichie, N.O. and Ayasi, K., 2018. Entrepreneurial opportunities and challenges for retired
senior military officers in Nigeria. In African Entrepreneurship (pp. 131-151). Palgrave
Macmillan, Cham.
Nowiński, W. and Rialp, A., 2016. The impact of social networks on perceptions of international
opportunities. Journal of Small Business Management, 54(2), pp.445-461.
Rauch, A., 2020. Opportunities and threats in reviewing entrepreneurship theory and practice.
Sedkaoui, S., 2018. How data analytics is changing entrepreneurial opportunities?. International
Journal of Innovation Science.
Zahra, S.A., 2020. International Entrepreneurship (IE) in the Age of Political
Turbulence. Academy of Management Discoveries, 6(2), pp.172-175.
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