Born-Global Firms: A Literature Review

This assignment tasks students with conducting a comprehensive review of the academic literature on born-global firms. It requires an examination of key concepts, theoretical perspectives, empirical studies, and emerging trends in this field. The assignment likely involves summarizing existing research findings, identifying gaps or areas for future investigation, and potentially synthesizing insights from different sources to provide a coherent understanding of born-global firm phenomena.

International new
ventures and born
global firms

Table of Contents
INTRODUCTION...........................................................................................................................3
International Entrepreneurial opportunities.....................................................................................3
Customized sports wear garment will aids in attracting large numbers of customers................5
Objectives of customized sports wear garments.........................................................................5
International new ventures..........................................................................................................5
Global firms................................................................................................................................7
International sports entrepreneur opportunities..........................................................................7
Nature of international sports entrepreneur opportunities..........................................................8
Importance of international entrepreneur opportunities ............................................................8
International versus domestic sports entrepreneurship.............................................................10
CONCLUSION.............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
International new ventures and born global firms is a very broad nature which consist of
all the internal and external factors because international new ventures describe the
establishment of new business at international level. Simply international ventures is a expansion
of domestic business across the globe to earn more and more profit by minimizing their losses.
Basically due to the emergence of new ventures at national level it encourage the firms to expand
their business across the globe by merging with international companies (Prashantham, 2011).
The main motive of establishing of customised sports wear garments is to introduce new and
advanced product in domestic world due to which there is a many emergence of new global
firms. Simply this report consist all the relevant facts and figures which is indispensable while
expansion of domestic business. In fact international new ventures are trying to establish their

mark across their globe by making products according to the demand of customers which
resulted in a emergence of global firms.
International Entrepreneurial opportunities
For opening of different business at international level an entrepreneur needs to take appropriate
steps towards satisfying of their customer because their main policy is customer oriented which
means they believe in satisfying their customers with their qualitative product. In fact to continue
their business an organization need to must concerned with their quality because most of the
customers demand only qualitative product as prices does not matters for them (Dhanaraj,
2010). Mainly while opening up of business main focus on quality because quality is the only
thing which attract their clients attention towards their products.
The term “entrepreneur” comes from a French word enterprendre that means “to
undertake” or having the ability to take risk. Basically this shows the capacity of undertaking
all the available risk and opportunities while establishing a new ventures across the globe. In fact
the process of creating something creative and innovative is known as “entrepreneurship”
(Prashantham, 2010). Mainly entrepreneurship consist of vary broad nature included all the
internal and external factors which influence them in every manner.
Main characteristics of entrepreneurship:-
 Risk taker:- The main and foremost quality of entrepreneur is to having a
capability of hedging risk. In fact before establishing a new venture across the
globe an entrepreneur need to be ready to face all the upcoming challenges
(Nummela, 2010).
 Profit maximization :- Profit maximization means an entrepreneur are more
likely concerned in getting high level of return or maximizing their profit.
Basically every entrepreneur always try to earn more and more return on their
investment.
 Entrepreneur is a process:- The word entrepreneur is not a journey or any
destination in fact it is a process of performing appropriate task which requires
lots of experience and skills to run their business effectively (Young, 2011).

To start up a new business a person must have all the quality, talent and skills of a leader
because to set up a new ventures at a international level an entrepreneur must have basic skills
and knowledge about all the necessary things whatever is important before expanding a new
ventures.
International new ventures.
International new ventures is a term represent a business at international level it means
expansion of product in different- different countries to expand their business across the globe
to learn creative things by making ventures in all the other countries. Business consist of very
broad size of market due to their drastic nature and dealing with international level or with
foreign clients to sell their products (Pérez-Nordtvedt, 2010). Basically international ventures
deals with foreign clients and work according to their taste and preferences to establish their
product goodwill at international market due to their unique product quality. The major aim of
establishing a new ventures is to maintain a friendly relation with other countries also by
merging their business with them by sharing the risk and profit at international level. Industry
contains a lots of company which was dealing with BRANDED product and these companies
are having a vast area of dealing across the globe and always satisfy their customers with their
qualitative product (Khavul, 2010). To determine the market size of the famous industry a
proper planning and evaluation is mandatory because of their vast nature consist of all the
relevant factors whatever is required for company. Its not easy to determine the overall market
size of the international market which require expertise advice and availability of accurate data
and information.
Advantages of international ventures :-
 Due to the emergence of international ventures an organization must aware about
many creative and innovative product which is somehow very beneficial for their
enterprises to learn new things and ideas (Hisrich, 2012).
 International ventures uplift the standard of living of domestic peoples by getting
updated day by day which means due to the international ventures an entrepreneur
or overall company can improve their inner and outer personality.
 Availability of advanced equipment and technology makes task easier or very
helpful to perform all work in easy manner without facing much problem.

 Chances of success become maximum due to the broad concept of international
ventures. Because of expansion of existing business a company get a chance to
increase their success process by emerging their business over the seas.
Disadvantages of international ventures:-
 Sometime there is a absence of proper communication due to which confusions
are created which resulted in incorrect interpretation of any information or data.
 In joint ventures if there is a losses occur then both the companies has to face the
existing problems and upcoming problems. It means in joint ventures both the
enterprise one is the main branch and other is the subsidiary of other branch has
to face all the business challenges and share the marketing risk (Kirpalani, 2012).
 Because of different-different organization working together by making joint
ventures of enterprises there is a presence of great imbalance of assets and
liabilities. Somehow there is a investment problems also occurred.
 It is very difficult to quit the partnership if there is presence of legal contract
between both the companies.
Global firms.
Global firms are the emergence of various entrepreneur at global level seeks to obtain
more and more profit by selling more and more product in multiple countries (Gabrielsson,
2012). Born of global firms means an entrepreneur who is dealing or working in domestic
country instantly decide to expand their business across the globe to deal with foreign companies
by making joint ventures with them to introduce their product in foreign market. Mainly global
firms consist of a broad concept due to their expansion of organization over abroad which
resulted in a dealing with foreign business.
Advantages of global firms :-
 Due to the emergence of new global firms there is a lots of employment
opportunity exist so that every individual able to earn money by getting job
opportunity (Freeman, and et. al., 2010).
 Global firms encourage the other competitors to expand their business across the
globe to maximize their profit or to learn new and innovative ideas. In fact the
competitors tries to manufacture more qualitative product than others to grab all
the opportunities in response to sports field.

 Emergence of global firms provides a close substitutes in a market and act as a
very helpful tool for the domestic firms to learn creative things (Evers, 2011).
Disadvantages of global firms:-
 Global firms requires an extra skills and talents for becoming a global firms.
 Large amount of capital is required
 Before becoming a global firm an entrepreneur must follow all the rules and
regulation made by the running government of country. Basically an entrepreneur
must go through from all the terms and conditions and it is indispensable to fulfil
all the important terms before coming in foreign market (Sullivan Mort, 2012).
International entrepreneur opportunities.
International entrepreneur opportunities is the term which shows all the existing and
upcoming opportunities at international level so that an entrepreneur can grab all the available
opportunities in a foreign market. Basically international entrepreneur opportunities signifies the
availability of golden chances for all the upcoming entrepreneur to minimize their liability by
increasing their assets by introducing creative products with extra quality to attract foreign
customers (Da Silva, 2010). As foreign man is quality oriented so they require only qualitative
product according to their game demand. Basically entrepreneur knows all the information and
data which is essential while manufacturing the product so that they must considered all the
indispensable data to make Useful products. Effective products included all the necessary items
whatever is important basic needs and wants of a customer
Nature of international entrepreneur opportunities
International entrepreneur opportunities are having a market oriented policies which
consist of licensing, exporting, importing or opening of a another office in different- different
countries across national boundaries (Da Rocha, 2010). In fact international entrepreneur
business believes in launching their business in more than one country to make their goodwill
over the seas. In other words when an entrepreneur tries to expand their organization in other
countries then international entrepreneurship occurs. Due to the increase in competition
opportunities also increases due to the broad concept. The main task of entrepreneur is to design
the clothes according to the demand of their customers and always try to manufacture different
from others which requires a appropriate attention (Dib, 2010). In fact sporty wears are

increasingly day by day due to their increase in usage as informal wear which means most of the
peoples are wearing the sports dress as informal dress while going outside.
Importance of international entrepreneur opportunities
International entrepreneur opportunities increases day by day due to the emergence of
international joint ventures and born global firms. In fact it is important for fresh employees to
become an entrepreneur because with the availability of large amount of opportunity at
international level most of the business man are trying to grab that opportunity. Simply
international entrepreneur plays a very indispensable role due to broad concept as with the help
of this an organization can easily maximize their profit by expanding their business across the
world. Basically international entrepreneur is the term which means an effective trade between
two countries by satisfying their customers needs and desires according to their demand in the
international market (Freeman, 2011). Entrepreneur are most likely plays a very important role
to completing the day to day activities because if there is a absence of basic products then its not
easy to live their live. Generally basic products is very essential part for every human beings
Reasons to become an international entrepreneur
1. E-Commerce :- Due to the emergence of e-commerce an entrepreneur can easily expand
their business across the globe because with the help of internet marketing there is no
need to travel in different countries to introduce their product (Liesch, 2012). Mainly e-
commerce act as major reason behind the emerging of international entrepreneur because
of their broad concept. Basically with the help of e-commerce facility an entrepreneur
can easily execute their all activities effectively and efficiently by launching their
product at international level.
2. Expansion of brand :- To expand their existing product or to know the response of
foreign customers an entrepreneur need to introduce their product at international market
(Rammal, 2011). Basically expansion of brand also have a positive impact on a business
by earning more and more profit if there is a maximum demand by foreign customers.
3. Opportunities act a problem solving tool :- Sometime due to the international market
problems which occur in domestic market can also solved. It means opportunities
available in foreign market are able to solve the domestic problem of an entrepreneur due
to which many of the firms want to become international entrepreneur (Cavusgil, 2011).

4. Networking/ creating a peaceful environment:- Networking is also very effective in
creating a peaceful environment and understanding between domestic and foreign
countries. Basically by expanding the business over the seas is somehow very helpful for
many countries to create a mutual understanding between rivalry nations (Magnani,
2016).
5. Upliftment of standard of living :- Try to raise the standard of living to develop the
overall personality and standard of country. Standard of living is also one of drastic
reason behind emergence of international entrepreneur as due to which overall
development occurs.
To become an international entrepreneur all the above points are the major reasons
behind becoming of an international entrepreneur by expanding their product over the seas.
Mainly international entrepreneur consist of a very broad concept because of the vast nature b y
including all the relevant factors (Cavusgil, and et. al., 2014).
Due to the broad concept of international entrepreneur opportunities there is a emergence
of lots of opportunity.
Some of the international opportunities for entrepreneur.
 Investment in multiple business :- With the help of international opportunities an
entrepreneur can easily invest their capital in multiple business to earn more and
more profit as well to utilise all the available opportunities in a positive manner
without wasting in other work. Multiple business is very helpful in minimizing
losses by covers from other business that's why expertise advice to new and
emerging global firms to invest their fund in more than one business to recover
other losses (Knight, 2015).
 Internet act as social power :- Due to the advancement of technology internet is
also one of the sparking benefits for new born entrepreneur as with the help of
internet an organization can sell their product across the globe without facing any
obstacles regarding travelling. In fact problems of clients can also solve with the
help of internet only due to advanced features and facilities. Mainly with the use
of internet buyers and sellers both are interconnected with each other (Cavusgil,
2015).

 Growth in foreign markets:- Due to the growth in the foreign markets especially
in a Chinese market maximum amount of growth was seen in the past years. It
means foreign markets growth inspired the domestic entrepreneur towards growth
of their product by coming with new and innovative ideas in the market. Basically
because of the growing of foreign markets there is a emergence of lots of
opportunities in international market which encourage many of the entrepreneur
to make a joint venture with international entrepreneur to learn creative things.
International versus domestic entrepreneurship
International and domestic entrepreneurship both are worried about the same major
issues for example sales, costs, profit and losses (Loane, 2010). But international
entrepreneurship are more broader concept than domestic one because of the emergence of many
more competitors.
Main and foremost differences are :-
 International entrepreneur has to deal with many obstacles at world level which is
not much easy to handle due to the complexity in their nature. Whereas domestic
entrepreneur can easily handle all the upcoming issues or emerging in fact there
domestic problems are having a very simplex nature as compare with
international one (Tanev, 2012).
 Domestic entrepreneurs are deals with only the domestic customers whereas
international entrepreneurs deals with foreign clients.
 Before establishing an international business an entrepreneur must fulfil the lots
of extra formalities in fact exporting or importing of a product requires a proper
legal formalities (Bell, 2010). Where as domestic entrepreneur doesn't requires
that much of formalities while expanding their business in the same country or
area.
CONCLUSION
This report consist of all the relevant fact and figures which are essential to attract a large
numbers of customers at international level by using the policy of changing the products

according to the customers demands and desires. Basically international new ventures and born
global firms deals with the expansion of existing business across the globe to grab advance
opportunity by learning new and innovative things. Mainly it shows the objective of business to
determine the market size of the market over the seas. In fact it also try to know about the
overall development of a country with the emerging of global firms which means it describe the
effectiveness of firms encouraging at international level. Overall report explains the roles and
responsibility of attractive international and domestic entrepreneur to establish the customised
products to fulfil the demands of their existing customers according to their taste and
preferences. So this assignments covers all the factors which comes under international new
ventures and born of global firms.
REFERENCES
Books and Journals
Bell, J and Loane, S., 2010. ‘New-wave’global firms: Web 2.0 and SME internationalisation.
Journal of Marketing Management, 26(3-4), pp.213-229.
Cavusgil, S.T and Knight, G., 2015. The born global firm: An entrepreneurial and capabilities
perspective on early and rapid internationalization. Journal of International Business
Studies, 46.(1). pp.3-16.
Cavusgil, S.T and et. al., 2014. International business. Pearson Australia.

Cavusgil, S.T., Rammal, H and Freeman, S., 2011. International business: the new realities.
Pearson Higher Education AU.
Dib, L.A., Da Rocha, A and Da Silva, J.F., 2010. The internationalization process of Brazilian
software firms and the born global phenomenon: Examining firm, network, and
entrepreneur variables. Journal of international entrepreneurship, 8.(3). pp.233-253.
Evers, N., 2011. International new ventures in “low tech” sectors: a dynamic capabilities
perspective. Journal of Small Business and Enterprise Development, 18.(3). pp.502-
528.
Freeman, S and et. al., 2010. A model of rapid knowledge development: The smaller born-global
firm. International Business Review, 19.(1). pp.70-84.
Gabrielsson, M and Kirpalani, V.H. Eds., 2012. Handbook of research on born globals. Edward
Elgar Publishing.
Guillén, M.F and García-Canal, E., 2010. The new multinationals: Spanish firms in a global
context. Cambridge University Press.
Hisrich, R.D., 2012. International Entrepreneurship: Starting, Developing, and Managing a
Global Venture: Starting, Developing, and Managing a Global Venture. Sage.
Khavul, S., Pérez-Nordtvedt, L and Wood, E., 2010. Organizational entrainment and
international new ventures from emerging markets. Journal of Business Venturing, 25.
(1). pp.104-119.
Madsen, T.K., 2013. Early and rapidly internationalizing ventures: similarities and differences
between classifications based on the original international new venture and born
global literatures. Journal of International Entrepreneurship, 11.(1). pp.65-79.
Nummela, N. ed., 2010. International growth of small and medium enterprises. Routledge.
Prashantham, S and Dhanaraj, C., 2010. The dynamic influence of social capital on the
international growth of new ventures. Journal of management studies, 47.(6). pp.967-
994.
Prashantham, S and Young, S., 2011. Post‐Entry Speed of International New Ventures.
Entrepreneurship Theory and Practice, 35.(2). pp.275-292.
Rialp-Criado, A., Galván-Sánchez, I and Suárez-Ortega, S.M., 2010. A configuration-holistic
approach to born-global firms’ strategy formation process. European Management
Journal, 28.(2). pp.108-123.
Sullivan Mort, G., Weerawardena, J and Liesch, P., 2012. Advancing entrepreneurial marketing:
Evidence from born global firms. European Journal of Marketing, 46(3/4), pp.542-
561.
Tanev, S., 2012. Global from the start: The characteristics of born-global firms in the technology
sector. Technology Innovation Management Review, 2.(3). p.5.
Zucchella, A and Magnani, G., 2016. International entrepreneurship: theoretical foundations
and practices. Springer.