Analysis of Entrepreneurial Global Ventures and International Business

This report provides a comprehensive analysis of Entrepreneurial Global Ventures, examining key theories supporting international business such as Mercantilism, Absolute Advantage, Comparative Advantage, and the Heckscher-Ohlin theory. It delves into tariff and non-tariff control measures, highlighting their impact on international trade. The report explores the trading relationships of the United States with the European Union and ASEAN countries, discussing the advantages and disadvantages of regional trading blocs. It also details various modes of entry into international business and the development of entry strategies, alongside crucial communication aspects for effective global operations. The report references Solar Winds Inc. as a case study, illustrating the practical application of these concepts in the context of a US-based technology company. The report's structure includes an introduction, main body divided into two parts, a conclusion and a reference section.

Entrepreneurial Global Ventures

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
PART 1............................................................................................................................................1
1. Describe the theories in support of International Business................................................1
2. Explain different tariff and non-tariff control measures for regulating International Business
................................................................................................................................................3
3. Write briefly your country’s trading with European Union and ASEAN countries..........5
PART 2............................................................................................................................................7
1. What are the advantages and disadvantages of trading with regional trading blocs..........7
2. Describe briefly different modes of entry into International Business and how do you
develop entry strategy.............................................................................................................9
3. Explain different communication aspects to be taken care for an effect International
Business................................................................................................................................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Entrepreneurial Global Ventures can be defined where entrepreneurs conducts business
activitie throughout the globe. In other words, international entrepreneurship as “the
development of international new ventures or start-ups that, from their origin, engage in
international business, thus viewing their operating domain as international from the initial
stages of the firm’s operation.”
In modern business world, global entrepreneurs are being considered as professionals
who uses global understandings so that to locate multinational & cross-cultural opportunities
which may aid them in taking initiatives related to set goals and objectives (Andersson and
Evers, 2015). Organisation which has been taken under this assignment i.e. Solar Winds Inc,
which is located in Texas, America and found in 1999. company delivers infrastructure
management software for IT professionals in United States. Present report is going to include
theories related to international business. It will also show differences among tariff and non-tariff
considerations in context with international market. Away with this, assignment will also focus
over selected country's trading against with EU and ASEAN nations. On the other hand,
advantages and disadvantages of trading with regional trading blocs are also enclosed that may
aid entrepreneurs at global level. Lastly, assessment is going to put light on various
communicational aspects that can impact over international businesses.
MAIN BODY
PART 1
1. Describe the theories in support of International Business
In modern era, there are ample number of theories present on global level which may
help entrepreneurs at the time of venturing worldwide. These hypothesis aid in understanding the
business concerns and trade that are linked with global market. Here, international trade refers to
a concept which is enclosed with exchanging of goods and services that are being done amongst
people at different nations (Arbaugh, Cox and Camp, 2018). As compared to domestic
marketplace, venturing into international market may directly help entrepreneurs in making
much more profit and generating high revenue than. Start ups or venturing directly at
international market rather than setting up business at domestic level can help or lead
entrepreneurs in earning high margins. Thus, it is required for entrepreneurs to focus over
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number of business trade policies so that to earn profit at high margins. Some of theories of
international business which aid in venturing at global market are given below:
Theory of Mercantilism : This is being considered as one of the oldest theory which was
found in 16th period of time and was majorly used by organisations who did business from 16 to
18th century. Era. Under this hypothesis, amount of wealth in all over business world stayed
static. Main purpose of this theory was that to develop an economic policy which is enclosed
with a design that can maximise trade of a whole country or to improve accumulation of both
silver and gold. On the other hand, theory also helped in setting an aim i.e. to enhance wealth of
a nation with the help of governmental rules and regulations which were related to commercial
interests. Away with this, with the help of this theory it was believed that strength of a country
can get maximized through reducing or fixing up imports viatariffs& enhancing export trade. A
good example of this theory is England Navigation Act of 1651 which stopped all the foreign
vessels related to coastal trade (Barbieri, 2013).
Theory of absolute advantage : This theory was found in the year of 1776 by Adam
Smith and its main principle was to deliver ability to a single party whether it is a firm or nation
so that to enhance quality related to products and services than its rivals with the help of same
number and amount of resources. Adam Smith have taken labour into consideration in order to
implement this theory over a nation. In other words, absolute advantage is capability of a nation
while producing the products and services focusing over lower cost per unit than its competitors.
For an instance : If United Kingdom generates wine 500 million gallons every year and Italy
produces it more than UK, this can be considered as absolute advantage and are being carried by
Italy while they both have used same number of resources.
Theory of comparative advantage : Another theory of international business which was
propounded by David Ricardo in the year of 1817 and was over basis of principles of political,
economy and taxation. This hypothesis showed that in free trade, an agent whether it is a firm
(Solar Winds Inc.) or country produces or manufactures products more and consumes it less
which ultimately gives comparative advantages. This theory has helped business firms like Solar
Winds Inc. and or nations in gaining many competitive advantages . This theory was pretty much
contrasted with absolute theory but things which made it different from this hypothesis was that
absolute advantages focused over quality but comparative kept its importances over offering
products with really very low cost (Barringer, 2015). In order to better understand about this
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theory, a good example has been taken of China & United States. Labour of China is much
cheaper than United states and keeps it focus over manufacturing products with lower
opportunity cost. On the other hand, United States' kept its focus over capital-intensive and
labour believed in making much sophisticated goods.
Heckscher-Ohlin theory : Another effective hypothesis of international business which
was presented by Eli Heckscher in 1919 but was strengthen by Bertil Ohlin in 1933. Main
purpose of this theory was that to make a country or business organisation to produce and export
products in a plentiful manner. On the other hand, model was majorly used and evaluate
equilibrium related to trade amongst two antithetic nations which are carrying differences in
between specialities, resources and so on (Cai and et. al., 2014). In present context, an instance
has been taken of countries like (UAE) that have many oil reserves but having less iron ore and
have made relations with those other nations who are rich in this resource .
Henceforth, these are some of the theories of international business which are helping
global entrepreneurial ventures over the years in doing business worldwide. This has helped
them in generating high revenue and earning good profit margins. It is required for companies to
focus over different areas so that it do not impact over their operations and needs to take
initiatives so that they may gain high number of profit margins.
2. Explain different tariff and non-tariff control measures for regulating International Business
Tariff is being considered as taxes that has been charged by government of different
countries which is majorly being utilised to improve living status of citizens or to make whole
nation economically strong. It aids in adding cost over value of products and services and helps a
country in developing policies related to trade. Tariff controls are tax related barriers which are
imposed by the government for the purpose of controlling import and export of products. This
affects the international business as the organisational are not able to trade at global level. It is
required for entrepreneurs who are venturing in near future to stay aware of changes that are
being made by government of different countries. It is being analysed that there are ample
number of differences present amongst tariff and non-tariff control measures while regulating
business at international level (Cavusgil and Knight, 2015). Some of differences among them are
given below:
Tariff Control :
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Import tariff: Custom duty a part of import tariff which imposed by the importing
country. A measure that imposed so that to improve revenue of companies and protected national
industries of United States.
Export tariff: Another measure of tariff control which imposed over products and
services that are being exported by country. This can help Solar Winds Inc. in business
expansion where they can export products and services with the help of export trading policies.
Transit Tariff : Obligatory of different products that have originated in a country only.
This may aid in cutting down the prices of commodities which are being traded.
Away with this, it has been analysed that trade barriers can also impact over products and
services that has been made by entrepreneurs (Colombo and et. al., 2014). Here, it can impact
over software which has been made by Solar Winds Inc as differentiation will be much equal to
cost of tariff along with transportation among exporting and importing nations like United States.
Non – Tariff control :
Quotas: A non- tariff control where parliament sets numerical limit on importing or
exporting goods over nations for a set time frame (Eddleston and et. al., 2016). This may impact
over profit margins and revenues of organisations that are doing business at international level.
Solar Winds Inc. has to pay penalty if it crosses the limit of exchange of goods and services .
Voluntary export resistant: Another type of quota where both export and import of good
over countries gets fixed. Country may take this in consideration in order to boost up domestic
industries but may impact over international business and companies like Solar Winds Inc. who
are looking for business expansion.
Subsidies: Another measure of non tariff control where a payment is being made by
parliament of a nation towards domestic producer so that foreign transactions can get completed
(export/import). With the help of this, local business organisations can reduce number of costs of
different commodities and can control market (Engel, 2014).
Henceforth, these can be considered as some major differences among tariff and non –
tariff control which may impact over business concerns and objectives that has been made by
entrepreneurial ventures. Thus, it is required for entrepreneurs to look over both of the tariffs
before venturing at international market so that it do not affect number of things like sales, profit
and goodwill (Gabrielsson, Gabrielsson and Dimitratos, 2014). It is required to take initiatives as
well so that they do not get into problem while venturing into global level.
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3. Write briefly your country’s trading with European Union and ASEAN countries
United States' economy stayed powerful over the years. Its trade with other countries and
continents like Europe, Australia, India and other Asian nations helped U.S. in developing it's
economy much more stronger . Government of United States mostly analyse the situation of
international market and tries to grab new opportunities so that to improve nation's financial
conditions. Both import and export of goods, services and other resources plays a crucial role
and it is required for parliament of U.S. or of an other country to look into different aspects to
make right decisions so that it do not impact over business of organisations whether it is small or
big in nature. Thus, it is required for entrepreneurs before venturing into international market to
focus over number of changes that has been made by government over number of policies related
to trade. These alterations are majorly being made so that to give good opportunities to firms that
are doing business at domestic level but to make economy strong it becomes vital for nations to
keep alien business firms much liberalised so that they can expand their business. On the other
hand, it has also been analysed that relation among two nations also plays a much important role
which can impact over trade abstraction in between them. Different initiatives which has been
taken by parliament of this country and different trade policies that has been developed and
followed in order to do business at international level among different nations are given beneath:
U.S. trading with European Union
According to the United States Trade Representative's report, in financial year of 2016,
European Union's goods and services trade with USA was around $1.1 trillion where export was
$501 billion; and import was approximately 592 billion dollars (U.S. trade in goods with
European Union, 2018). Looking over past year U.S. goods trade was deficit over $92 billion
still it can be said that EU is one of the largest goods and service related trading partner of
United States of America. On the other hand, relations of these two nations has also helped in
increasing employment rate. As given by department of commerce, support of both U.S. and EU
to each other in developing trade, where they both raised jobs over 2.6 million for citizens of
both of countries in the year of 2015. 1.2 million jobs were given to people in the field of export
& on the other hand, 1.4 million were given under service sector of both of the countries
(Madsen, 2013).
Exports: In the year of 2016, number of countries that are coming in EU has ranked
themselves as number one related to export market. On the other hand, goods which was
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amounted across $269.6 billion exported to European Union by United States in the same year.
Some of sectors under export categories like Aircraft, machineries, medical instruments and
pharmaceutical related goods have majorly generated trade for both of nations (Hallbäck and
Gabrielsson, 2013).
Imports: EU in 2016 was ranked as 2nd largest supplier for U.S. related to imports. Thus,
it can be said that relation among United States and European Union is much strong. In the same
year, around $416.4 billion amounted goods were imported by U.S. from nations that were
coming under EU.
Trade balance: In 2016,United States goods and service related trade got decreased with
the rate of $146.8 billion as compared to 2015. On the other hand, surplus related to service
trading which is being carried by United States with EU countries i.e. $54.8 billion which
approximately up with the rate of 0.8 if it gets compared with financial year of 2015 (USA-EU -
international trade in goods statistics, 2018).
United States trading with A.S.E.A.N countries
As given under report of Representative of United States Trade, around $241.7 billion
was the amount which was made by U.S. goods and services with ASEAN nations in financial
year of 2013 where export was totalled around $100.5 billion and imports were approximately
$141.2 billion. Apart from this, goods and services trade of America deficit with nations that was
coming under ASEAN were around $40.7 billion in same financial year (Henry and et. al.,
2015).
Apart from this, as given by department of commerce of United States, around 499,000
jobs were given by U.S. Where goods and services were exports to ASEAN countries.
Exports: In 2013, United States exported goods and services worth of $79.0 billion as
compared to other nations, ASEAN's trade and business with America has increased and
growing in a continuous manner (Trade & Investment, 2018). As given under the article of an
economist of United States, ASEAN countries comes over fourth rank who trades services and
goods with America under export market (Gabrielsson, Gabrielsson and Dimitratos, 2014).
Imports: Countries that are coming under ASEAN as together they have ranked as 5th
largest supplier in financial year of 2013. Malaysia, Thailand, Vietnam, Indonesia, etc are some
of nations of ASEAN who have made good relations with United States and are trading in
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different sectors. Some of most majorly importing products are : Machinery, Rubber, Apparels
and many more.
Trade balance and investments:
As per given report by the economist, in 2013, $48.0 billion was the amount which
reduced of U.S. Goods. On the other hand, goods related trade surplus was approximately $7.3
billion that has been carried by United States with ASEAN. Along with this, United States'
foreign direct investment (FDI) over nations of ASEAN countries (inventory/stock) was
amounted $204.0 billion in same financial year (2013), this got enhanced with rate of 9.1% as
compared with 2012 year (Leading Sectors for U.S. Exports to ASEAN, 2015).
Henceforth, both EU and ASEAN nations has made effective relations with United States
of America which impacted over both economy and nation's pride as well. On the other hand, it
is being analysed that continuation of healthy trade amongst these countries will help improving
over all economical conditions of international market. This can help entrepreneurs or companies
like Solar Winds Inc. who have aimed for venturing directly at global level. This can help them
in improving profit margins and to grab a good position at international marketplace (Ibarreche,
2013).
PART 2
1. What are the advantages and disadvantages of trading with regional trading blocs
It has been examined that there are many advantages and disadvantages of commerce
present in regional trading blocs. It is being considered as a number of countries and groups that
are covered under geographical region which majorly protects themselves and it imports non-
members. Trading blocs is being considered as economic integrations along with it may enhance
shape along with pattern of world trade (Kimosop, Korir and White, 2016). Some of advantages
and disadvantages of trade connected with regional trading blocs are given beneath :-
Advantages of trade linked with regional trading blocs: Free transfer of resources: Trading blocks are being considered as components that aid
in eliminating all the barriers related to tariff and may deliver different services like
transferring good, services or resources across countries (Ibarreche, 2013). For instance,
Alliance of British Industry may become able to sell products and services where no tariff
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is being applied. This has helped companies in making high profit and boosted economy
along business Britain. Employment opportunities: Countries that have adopted tariff free strategy may produce
goods and services at Large scale. This will automatically raise number of employment
opportunities in a directly and indirect sense. For an example : Number of companies like
Tesco plc, Sainsbury's, etc., expands their in countries that have used free tariff then it
will directly may require more workers so that to run business in a successful manner.
 Benefits to consumers: Formulating proper trading bloc which directly enables
transferring the technology and have impacted over productivity. It also raised quality
measures of goods and services. This improved belief of customers over firms and made
proper relationship as well (Kimosop, Korir and White, 2016). For an example: the
formulation of trading blocs will be helpful to consumer in availing better products in
competitive prices.
Disadvantages of trade linked with regional trading blocs: Interdependence: Dependency of nations may impact over each other if any calamity
takes place. Conflicts can affect legislations and can create a barrier for nations that have
made a link in order to create a non tariff area. Concessions: The non-member countries are provided access to the RTB member
countries, only after charging the taxes. Concessions are provided only to the member
nations. For an example: United Kingdom have opted to leave EU, which means that they
are liable to pay all the taxes and duties which were non-existent earlier due to their
membership with the union.
 Retaliation of non-members: Non-members may form their own sort of trade blocs. This
may lead nations to face trade war (Knight and Liesch, 2016). For an example: United
States and China went through the same situation and faced a trade war but this led other
nations like India in gaining many advantages like made good relations with Iran.
Some of regional trading blocs carries several types like preferential trade, free, customs
union, common market are being considered as some of the areas that may impact over
companies profit related margins. With the help of this, Solar Winds Inc. may easily start hitting
their targets and can run business in a legalised manner with the help of trade policies (Trading
blocs, 2018).
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2. Describe briefly different modes of entry into International Business and how do you develop
entry strategy
International market gives much more opportunities to entrepreneurs than domestic level
who have kept their aim of earning high level of profit and are going to venture in near future. It
has been analysed that, there are ample number of modes of entry at global level that can be used
by entrepreneurs to launch its business or start up. Choosing right media and mode can help new
business in gaining good reputation at international market. It is required for Solar Winds Inc. to
make some basic decisions so that foreign expansion can get done in a successful manner. Some
of initiatives related to which market needs to enter, what best time of entering and what stock is
needed are some of the questions that should be analysed (Martin and Javalgi, 2016).
With the help of this, drawing of outcomes can get done in a successful manner. Some of
entry modes at international level are licensing, exporting, franchising, joint venture, acquisitions
& mergers and Wholly Owned Subsidiary that can be adopted by global ventures who have
aimed for business expansion directly at global level.
These modes are described in a brief manner beneath :-
Licensing :- This type of entry mode can help a domestic business firm to expand its
business in targeted area. Here, owner of a domestic manufacturer leases or gives right to an
another person to use copy right and brand name of a corporation. Licensor asks for a fee from
an individual who is licensee. On the other hand, it has been analysed that this mode do not cost
much to firms. Solar Winds Inc., may expand its business in targeted nation and can gain many
advantages without facing any sort of problems which is related to ownership, investment and
more (Morris and et. al., 2018).
Exporting :- Another entry mode which mainly focuses over enhancement of sales of
products and services that has been made by manufacturer who have adopted this type of entry
style. It can be said that this sort of method is one of the simplest but can become complex when
changes occur among trade policies. Thus, if Solar Winds Inc. consider this method it may
require proper funding that can be used as investment while exporting products to targeted area.
It is required for this firm to understand the culture and trends which has been followed by host
nation. This can help managers and leaders of Solar Winds Inc. to take initiatives and can enter
the country at full scale.
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Franchising :- This entry mode is being commonly used by global entrepreneurial
venturers or companies that have worked over domestic market but aimed for expansion of
business. Here, franchisor agrees over formal documents with franchisee so that he/she can use
trade marks, operating systems that has already been followed by an organisation. Here,
franchisee uses the name of company of a franchisor where person who is going to take
franchisee have to pay an amount which has been decided with mutual understandings. If Solar
Winds Inc. uses this entry mode it may not cost much to them, risk will to its lowest and can gain
good experience from franchisor (Franchising, 2018).
Joint venture :- Under this type of entry mode, where two firms or more in numbers
joins with each other and formulates a whole new entity which stays legally separated from
parental organisations. Most of business firms under this are being called as shared ownership
corporations. Various environmental factors like social , technological economic and political
encourage the formation of joint ventures. Latest technology required human talent etc. and
enable Solar Winds Inc. and company which it have made joint venture to share the risk in the
foreign markets.
Acquisitions & Mergers :- It is being considered as another entry mode option that can
be used by Solar Winds Inc. in order to expand its business at international level. Voluntary or
permanent combining two companies and their operations while using of a common name with
keeping same interest can be taken as mergers. With the help of this, Solar Winds Inc. can
remove its rivals from their competition. Through this, many benefits can easily be gained right
on time.
On the other hand, for business expansion at international level, it is required for Solar
Winds Inc. to develop entry strategy which includes some of the steps and these are given below: Set a specific and clear goal – It is required for Solar Winds Inc. to stay focused over aim
which they have looked for achieving in a whole new market in near future. Investigation of market – This is one of the crucial phase because any plan cannot get
successfully attained without investigation on set objective. It is required for Solar Winds
Inc. to do market investigation on a regular basis so that they may gain good competitive
advantages and with the help of market research Solar Winds Inc. may expand their
business in targeted area.
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 Examine number of competitors – While entering a whole new area, it is much necessary
for Solar Winds Inc. to does a proper analysis of competitors that are present at
marketplace. With the help of this, company may focus over strategies that has been
made by competitors. Through this, Solar Winds Inc. can make plans so that to gain good
competitive advantages (Odorici and Presutti, 2013). Selecting entry mode in targeted area – Another crucial step which plays a vital role
while developing strategy of business expansion. Solar Winds Inc. can use various type
of entry mode in order to launch business in a whole a new area. Franchisee, Licensing,
Joint Ventures, etc., are some of entry mode that can be used by Solar Winds Inc. while
venturing targeted place. Locate financial requirements and needs – While export venturing, Solar Winds Inc. may
require good amount of funds so that expansion can get done in a successful manner. In
this context, it is required for this business firm to keep its focus over investors at the
time of developing a plan and try to give high returns over investments that are being
made by them.
 Development of strategy document – Solar Winds Inc. may easily develop a proper
strategy so that to venturing can get done in successful manner. This document is being
considered as a blueprint which stays enclosed with different things like budget, contacts,
key findings, mission, goals, timeline, action plan. After that it is required for investigator
to monitor whole situation when execution of strategy takes place so that to draw
favourable outcomes for Solar Winds Inc. in set time frame (Sethna, Jones and Harrigan,
2013).
3. Explain different communication aspects to be taken care for an effect International Business
Business communication, at international market can be defined as a process through
which both sender & receiver transfers information. Ability, understanding, behaviour and
psyche are some of internal factors that stay present in an individual that helps in
communicating. On the other hand, some of external elements like noise, time, and culture
carries huge impact over communication in international business. Away with this, business
communication stays goal oriented but its purpose gets changes as per time and requirements of
business person. It has also been believed that, communication carries many factors related to
social, psychological, formal / informal at workstation (Siegel and Wright, 2015). Thus, it can be
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said that communication is life blood for Solar Winds Inc. Culture of a targeted area where
entrepreneur has decided to venture will be different then he/she might face number of problems.
Apart from this, there are some principles of communication which needs to be taken care which
can effect over international business and these are given below:
Correctness : It is required for global business entrepreneurs and companies like Solar
Winds Inc. to use appropriate structure and grammar while sending a letter, e-mail or
communicating over social media. It is also necessary to choose the right channel while
transferring the information so that intention can easily get expressed in front of targeted person.
Completeness : It is much important for Solar Winds Inc. to communicate with
stakeholders and provide them information in a complete sense. Failure into this may lead
company to miscommunicate the information or error can take place. Because of this, firm may
face heavy losses. Thus, message which is going to be sent from one country to another or from a
place to other should be complete in nature and it should not loose any end of information.
Conciseness : It is essential for Solar Winds Inc. while expansion of business to keep
communication much accurate and be filled with brevity. Managers and leaders of Solar Winds
Inc. while communicating it is required for them to avoid parenthetic & rambling of data. It
should be much simple, easy to understand and straightforward as well (Soni and Karodia,
2014).
Clarity : Solar Winds Inc. may use both verbal and non–verbal approach of
communication. But, it is much needed for entrepreneur to use clear language and should try to
deliver information in from of stakeholders in much effective manner.
Courtesy : Attitude plays a crucial role under communication at international market.
Courteous attitude of a firms can shift whole priority and importance from self to the other
(receiver). It is required for business person to deliver information to customers or investors with
courtesy and use gestures. This may aid Solar Winds Inc. in transferring data or communicating
with others in a befitting manner (Stam, 2015).
Control : Another important Communicational principles which may affect international
business. Controlling a proper flow of information can help in overcoming from chaos under
organisational structure. Central nervous system should be much effective in nature and can help
organisation like Solar Winds Inc. to promote products and services in much appropriate manner
through taking or adopting right media transfer information.
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Coordination : Communication is being considered as life line for a company. It can help
in developing different things like ideas, plans and aid in organising complete ability to deliver
information among customers or others (Sundin, Callan and Mehta, 2016).
Henceforth, these are some of major principles of communication which can be taken as
crucial aspects that may impact over business doings. Thus, it is required for Solar Winds Inc. to
focus over communication while expanding business at international level. Complexness is this
process may lead firm to face many differences related to culture and would not fulfil
requirements as well of customers. Effectiveness can be brought up of business worldwide if
Solar Winds Inc. will use language of area where they are going to expand business (Weihrich,
2013).
CONCLUSION
From above mentioned report, it has been concluded that doing business at international
level is not an easy task but if an entrepreneur understands about all the differences related to
tariff and non – tariff barriers that it can help companies in focusing over adjusting prices in
different nations. Apart from this, there are ample number of approaches of international
business which can be used by entrepreneurs while venturing at global level. Away with this,
trading is having various sort of advantages and disadvantages that are linked with regional
trading blocs and may impact over business concerns and profit margins of companies that have
directly established their business at interactional marketplace. Lastly, effective communication
among countries and better understanding can lead business firms that re dealing at global
market to hit their targets or enhance sales of products and services.
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