Report on Small Business Going Global Module

Added on - 03 Dec 2019

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REFLECTIVEFrom the module of small business going global, I have come across with different new conceptsand techniques which have generally changed my thought for International Entrepreneurship.Further, there are some learning outcomes which generally helped me to gain most of the skillsand these are:Importance of International EntrepreneurshipWith the help of it, I come to know the different types of business organizations alongwith the importance of the same. Further, my concept regarding the strategic internationalentrepreneurship has been improved and I have also come across towards the differentchallenges and opportunities in the International entrepreneurship. Further my concept regardingthe traditional motivations have been improved as I come to know the sale in other markets andalso the changes which are coming in the domestic condition of the business. Further, I havecome to know the difference between the international and domestic entrepreneurship. This hasbeen effectively understood with the help of PEST analysis. Moreover, my knowledge relating tothe exporting has been cleared and I also come to know about the indirect and direct exportingwhich are sub part of the same point.Further, international entrepreneurship consists of CRM procedure which generally helpme to know more regarding the same topic and also to make a healthy and precise relationshipwith the customers around the globe. Further, I have understood the essential factors forinternational entrepreneurship as I will focus on increase in sales and profits, I will also focus onlowering down the manufacturing costs, I will take the advantage of the cheap labor and at last Iwill see the best of the growth opportunities along with utilizing the best of the talent andmanagerial competence. Further, being small business going global has refreshed my conceptsrelating to the Management contract, FDI, minority as well as majority interest, joint venture,and mergers. With the help of it, I will be able to expand more of the contacts throughout theworld.Motivations for small business going globalThere are different reasons for going global and this topic generally helped me to knowthe drawbacks which I need to overcome in order to reach different world. From this topic, Ihave come to know that diversification is necessary to know the markets along with thecustomers base. Further, I have come to know that extended sales of current products and
services are the things which lending organization to go global. Further, the small business cango global with the reduction in the dependence of the current market along with spreading moreof the risk. I have come to know the different counter season fluctuations which will help me tosell the seasonal product in different countries throughout the globe. Further, with the help of thistopic, I come to know the things which are necessary for growth and this will certainly give memotivation to take the business globally. Moreover, I come to know that tapping the smallercountries with the best of the products and services will help business venture to increase moreof the sale and productivity. Further, on this contrary side I have also come to know that smallcustomers will not increase that much of the sale and for this I will be in need of larger market toincrease more of the sale and productivity. Moreover, I also come to know that local competitorsaffects the sale and productivity as they tend to sale the product and services at a price lower thanthe competitors price. At the time of going global, I will take this thing into consideration.Identify and select International Business OpportunitiesInternational business opportunities will help me to go global and this will help me toknow about expanding the market share along with increase in sale of gods and services of thecompanies merchandise. Importing and exporting is the greatest opportunities I have seen in theinternational business environment. Further, I also got familiar with the term licensing andfranchising as it allows the foreign company to sell the products. Further, there are differentfranchise models which I have to know and this will help me in future whenever I will bedeveloping any type of business plan along with the future opportunities. Moreover, contractmanufacturing and outsourcing too are the part of the same topic which I am discussing and thiswill help me to understand the manufacturing in some other countries of the product becauseorganization gets cheap labor, along with the low production cost. Further, I have also come toknow the many a change which are taking place in the 21stcentury and organization is focusingon this concept in order to go global. Further, efficient technology is reducing the work of laborand it also helps the business venture to lower down the administrative cost along with theincrease in profit. This topic certainly helped me to clear all my concepts and doubts relating tothe expanding globally. Further, i have also gone through with different strategic alliances andjoint ventures which has brushed up my concepts relating to the enhancing of the marketingefforts and also building effective sale and marketing share. Further, I have seen that improving
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