Identifying and Utilizing International Entrepreneurial Opportunities

This essay delves into international entrepreneurial opportunities, focusing on how entrepreneurs recognize and utilize possibilities for global exchange. It addresses the central research question of how entrepreneurs identify different opportunities for global exchange, emphasizing the role of market inefficiencies, resource acquisition, and the potential for importing successful products or services from one market to another. The essay also explores social entrepreneurship, technology entrepreneurship, and the impact of demographic factors on opportunity recognition. It highlights the challenges faced by entrepreneurs, such as courage, capital raising, marketing costs, and risk-taking. The conclusion stresses the importance of identifying and utilizing international opportunities in an economically free environment, advocating for further research to expand current understanding.

Running Head: INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES 1
International Entrepreneurial Opportunities
Name
Professor
Institution
Course
Date

INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES
2
Abstract
International entrepreneurship has been speculated as an opportunity-motivated active
over the years. Concurrently, research has been conducted to disclose the reasoning processes
of entrepreneurs in creating and recognizing opportunities. This paper will discuss what
international entrepreneurial opportunities are, entrepreneurial opportunity recognition and
how various entrepreneurs have identified or created such opportunities. The central research
question I seek to on in this paper is how entrepreneurs recognize different opportunities for
global exchange? Entrepreneurs identify opportunities by identifying inadequacy in the market,
and develop the idea of how to fix that inefficiency. This can be achieved by acquiring the
required resources and capability to correct the inadequacy. Additionally, an entrepreneur
identifies a certain product or service present in one market but it lacks in the home market.in
this case the entrepreneur can import the service or product and start business nationally and
internationally. Social entrepreneurship is the recognition and utilization of opportunities to
benefit both social and business sectors. It is usually enhanced by social ties with other
people .Technology entrepreneurship entails identifying, creating, and utilizing opportunities,
and accumulating resources within a technological solution regardless of the structural context.
Technological entrepreneurship promotes recognition and exploitation of social opportunities by
social entrepreneurs.
1. Introduction
International opportunity is any chance that leads to a global exchange between exchange
partners who may be retailers, wholesalers, and distributors or foreign consumers. International
entrepreneurship is basically captured in the recognition, presentation assessment and utilization

INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES
3
of opportunities for global exchange. It involves exporting, licensing or introducing a sales office
in a certain country. International entrepreneurs are professionals who apply
their global perceptions and relations to recognize cross-cultural and international opportunities
and utilize them in value-developing initiative (Ahmadian, Hamid, & Universiti Teknologi
Malaysia, 2014). An entrepreneur is able to introduce new products in the market, develop
existing products and services or use the existing to enhance international exchange.
Entrepreneurship steers significant development in countries, community or region where it is
promoted than where it is hindered. In changing economic situation, entrepreneurship has
acquired greater importance at the international level (Rua, 2018).
For entrepreneurship to be inferred opportunities must be recognized and exploited and
the only reasonable opportunity in international entrepreneurship is the one that form new
international exchange (Nirjar, 2011). Appreciating opportunity identification as being key to
entrepreneurship, a central question would be: how and why some people and not others
recognize and utilize these opportunities. The typical answer is that opportunity discovery is
affected by entrepreneurs’ involvement in business and social networks. Therefore, entrepreneur
recognition of a new opportunity is based established social networks (Kickul & Bacq, 2012). A
social network is defined as the total relationships that connect one person with other people
while a business network as the circle of relationships that link one business with the other
businesses. Research shows that suitable level of examining the information exchange that leads
opportunity identification is the interpersonal instead of inter-organizational relation. Hence, am
opportunity recognition exists where an entrepreneur has direct or indirect links with possible
exchange partners maybe through family, acquaintances or friend. This work provides a

INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES
4
description of identification and exploitation of international opportunities (Léger-Jarniou &
Tegtmeier, 2017).
2. Theoretical Framework
Research exploring international entrepreneurship has been recognized as one of the significant
area for further research within this field of international business. However, international
entrepreneurship can be differentiated from traditional theories of internalization and
internationalization in various ways (Laacks, 2010). The main distinguishing features of
international entrepreneurship research are the importance accorded to the entrepreneurial
identification and utilization of opportunities. Entrepreneurship theorists argue that opportunities
are discovered by persons not firms. Therefore, the recognition of an opportunity is a perceptive
act rather than collective. This suggests that social networks are the main channel for
international entrepreneurship opportunity recognition (Smallbone, 2010).
In the subject of International Entrepreneurship (IE) recent research has underlined the
idea of international opportunities and entrepreneurial behavior has been found essential.
However, this research has a limited theoretical analysis in line with the concept of opportunity.
On addressing these issues the authors offer different perceptions of international opportunities
and international entrepreneurship. From various articles published from 1989 to 2012, the
concept of opportunity is incorporated into these studies. Findings indicate that even if the IE
study has considered various vital elements, it is somewhat restricted in the expression of the
theoretical features of international opportunities and opportunity-determined behaviors
(Devinney, Markman, Pedersen, & Tihanyi, 2016).

INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES
5
Economic liberalization increases competition, creates new business opportunity, and
changes regulations in business surroundings. The impact of economic liberalization operating
on firms from developing economies are more equal to vital institutional transitions introducing
significant and comprehensive diversities and motivate entrepreneurial behavior. Nevertheless,
the literature that defines entrepreneurship in the context of emerging economy business and how
to expand nationally is limited (Usui, 2011).
3. Discussion
Basically, emerging or past information on prices, consumer preferences, markets and
many others does not determine an opportunity. Instead, it is determined by individuals’
capability to apply creativity by inventing new combinations and acting innovatively promoted
by social interactions with other people. Therefore, opportunity connected to the individual’s
activities, which are founded in a social perspective, and the process of opportunity development
a creative person is required. Discovering and negotiating exchange opportunities with new
clients marks the international opportunity identification, evaluation and utilization. Basing on
this entrepreneurship research and social network theory, I suggest that international
entrepreneurship opportunities generally depend on existing social networks (Bista, 2018).
Innovative entrepreneurship refers to identifying unutilized or under-utilized opportunity
and opting to develop a new business pattern. Innovative entrepreneurship needs making of
decision under improbability. In such cases, the entrepreneur should understand the possible
distribution which challenges his/her decisions. These prospects, therefore, are initiated in the
entrepreneurs’ mind .which may differ for different individuals (Szirmai, Naudé , & Goedhuys,
2011).

INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES
6
Social entrepreneurs discover and utilize a number of opportunities enhanced by distinct
motivations. Social networks are important in exchange setting and emerging economies because
they initiate ties with others thereby promoting exchange. How they engage in opportunities
might differ from standard business approaches. Therefore, the social entrepreneurs focus on
achieving both economic and social aspects (Lyons, 2013). On the other hand, technology
entrepreneurship diverges from the usual entrepreneurship because it aims on technological
opportunities that need greater technological and also administrative capabilities. Alternatively, it
needs an elevated level of technical abilities and control of an uncertain environment.
Moreover, it comprises the same opportunity recognition, management and exploitation
found in any other type of entrepreneurship but within a concentrated technology and business
model which makes it different. Development in communication technology promotes the
exploitation of social opportunities in developing world as it increases information access and
provide necessary knowledge to social entrepreneurs. For instance, research shoes that most of
the startups in India use technology such mobile and internet to utilize various international
opportunities (Evers, 2014).
Demographic factors such as gender, ethnicity, age, race and location affect international
opportunities recognition and utilization. This is because different people from different gender,
race or age will recognize different opportunities depending on the social network created. Some
of the international opportunities to identify in various sectors like agricultural sector, energy,
tourism, education have brought several contributions in India which includes employment
creation, improved quality of products, economic growth of the country and innovation.

INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES
7
This potential view is mainly beneficial for born global firms because most are small-
sized firms most with inadequate financial and human resources. Hence, fostering organizational
capabilities like international entrepreneurial potential, to control firm resources for attaining
outstanding performance in the international market are significantly vital to them. The strategic
management evaluation of international entrepreneurship underlines resource stretching,
brokering, value creation, and opportunity searching through the addition of proactive,
innovative and risk-seeking behavior (Jerinabi & Santhi, 2012).
Entrepreneurship as the process of identifying new chances and opportunities in
business, and is clearly recognized in India by many fearless entrepreneurs venturing into the
entrepreneurial spirit. Entrepreneurship in India has resulted in innovation in sectors such as
education, healthcare, agriculture, IT and further becoming the powerful force in the market. On
the other hand, business opportunities are areas where an entrepreneur discovers to be potential
for conduct business. In India, the increased rate of unemployment has led to rising in
entrepreneurship opportunities identification hence creating jobs. Entrepreneurship involves both
creations of self-employment and the creation of small to large enterprises (Coviello & Yli-
Renko, 2016).
In India, it is evident that some of these small entrepreneurship businesses have grown
and led to the employment of hundreds of people thus promoting the country’s economy. Hence
the research proves that entrepreneurship and business opportunities correlate and both must be
there for them to take place. Entrepreneurship in a country helps its economy in several ways; it
leads to innovativeness, high-quality products, and in the case of India it has led to economic
growth and employment creation (Ghauri & Kirpalani, 2015).

INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES
8
4. International Entrepreneur Challenges
Courage to venture into business and failure to believe in oneself is a limiting factor in
entrepreneurship. One needs to recognize the opportunity and make strategic plans on how to fill
the gap. Likewise, raising capital is another hindrance to upcoming firms in the entrepreneurship
industry. Startup should gather adequate capital before venturing into business. Consequently,
the cost of marketing is challenging. This is because a new firm should outline the marketing
techniques to be implemented. What is more, venturing into business involves risk-taking,
meaning an idea can work or not. Therefore, new firms should be ready for any occurrence
which may either be favorable or unfavorable.
5. Conclusion
Identification and utilization of international opportunities are critical for any
entrepreneur. In a business environment where economic freedom is encouraged, competition,
regulation changes and creation of businesses are promoted. The research question in this paper
was how entrepreneurs recognize different opportunities for global exchange? The answer would
be entrepreneurs in open economies rely more likely on social networks than those in closed
economies. Entrepreneurs must recognize a existing or emerging gap and immediately act on it.
Therefore, an entrepreneur should be able develop, discover and exploit an opportunity. Further
work is therefore advocated for to help expand the current work in various ways. As discussed,
network -based opportunities created better exchanges that opportunity identified via non-ties
means. Entrepreneurs create mysterious touch to a company in public or private or joint sector,

INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES
9
in achieving innovativeness, flexibility and achieving speed. From the discussion it implies that
different entrepreneurs will identify different opportunities differently depending on the social
ties existing.
References
Ahmadian, S., Hamid, A. A., & Universiti Teknologi Malaysia. (2014). International opportunity
recognition and export satisfaction in SMEs. San Bernardino, CA : Supreme Century .
Ahmed, F., & Alam, M. A. (2017). Business environment : Indian and global perspective. Delhi : PHI
Learning Private Limited.
Aijaz, R., Observer Research Foundation, & Stiftung, R. L. ( 2014). Transportation sector in India and EU :
problems, prospects and opportunities for development. New Delhi: Academic Foundation.
Bista, K. (2018). International student mobility and opportunities for growth in the global marketplace.
Hershey, PA: Information Science Reference.
Buckley, P. J., Enderwick, P., & Cross, A. ( 2018). International business. Oxford, United Kingdom : New
York, NY : Oxford University Press.
Coviello, N., & Yli-Renko, H. (2016). Handbook of measures for international entrepreneurship research :
multi-item scales crossing disciplines and contexts. Northampton, MA : Edward Elgar Pub.
Devinney, T. M., Markman, G. D., Pedersen, T., & Tihanyi, L. (2016). Global entrepreneurship : past,
present & future. Bingley, UK: Emerald Group Publishing Limited.
Dhiman, M. C. (2017). Opportunities and challenges for tourism and hospitality in the BRIC nations.
Hershey PA: Business Science Reference.

INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES
10
Evers, N. (2014). Technology Entrepreneurship. Palgrave Macmillan.
Ghauri, P. N., & Kirpalani, V. M. (2015). Handbook of research on international entrepreneurship strategy
: improving SME performance globally. Cheltenham, United Kingdom ; Northampton,
Massachusetts : Edward Elgar Publishing.
Hisrich, R. D. (2010). International entrepreneurship : starting, developing, and managing a global
venture. Los Angeles : SAGE.
Jerinabi, U., & Santhi, P. (2012). Creativity, innovation, and entrepreneurship. New Delhi: Allied
Publishers Pvt. Ltd.
Keillor, B. D., Wilkinson;, T. J., & Kannan, V. R. (2011). International business in the 21st century. Santa
Barbara, : Calif : Praeger.
Kickul, J., & Bacq, S. (2012). Patterns in social entrepreneurship research. Cheltenham: Edward Elgar Pub.
Ltd.
Laacks, N. (2010). The Role of Networks in the Internationalization of Management Consulting Firms: A
critical View on traditional Theory. Hamburg Diplom.de.
Landstrom, H., Fayolle, A., & Santos, S. C. (2017). The emergence of entrepreneurial behaviour :
intention, education and orientation. Cheltenham, UK: Edward Elgar Publishing.
Léger-Jarniou, C., & Tegtmeier, S. (2017). Research Handbook on Entrepreneurial Opportunities :
Reopening the Debate. Cheltenham, Gloucestershire : Edward Elgar Publishing.
Lyons, T. S. (2013). Social entrepreneurship how businesses can transform society. Santa Barbara: Calif.
[u.a.] Praeger .
Manimala, M. J., & Wasdani, K. P. (2015). Entrepreneurial ecosystem : perspectives from emerging
economies. New Delhi, India : : Springer.
Nargundkar, R. ( 2010). Services marketing : text & cases. New Delhi, India : Tata McGraw Hill Education.
Nirjar, A. (2011). Entrepreneurship development. World Press Private Ltd.
RReuber, A. R. (2018). International entrepreneurship the pursuit of opportunities across national
borders. Cham: Switzerland Palgrave Macmillan .
Rua, O. L. (2018). Entrepreneurial orientation and opportunities for global economic growth. Hershey: PA
Business Science Reference.
Sitkin, A., & Bowen, N. (2013). International business : challenges and choices. Oxford, United Kingdom:
Oxford University Press.

INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES
11
Smallbone, D. (2010). The theory and practice of entrepreneurship : frontiers in European
entrepreneurship research. Cheltenham ; Northampton, Mass : Edward Elgar .
Szirmai, A., Naudé , W., & Goedhuys, M. ( 2011). Entrepreneurship, innovation, and economic
development : a study prepared for the World Institute for Development Economics Research of
the United Nations University (UNU-WIDER) and Maastricht Economic and Social Research
Institute on Innovation and Techn. Oxford: Oxford University Press.
Tanțău, A. D., Fratila, L. C., & IGI Global. (2018). Entrepreneurship and business development in the
renewable energy sector. Hershey, PA : IGI Global, Business Science Reference, an imprint of IGI
Global, .
Usui, C. (2011). Comparative entrepreneurship initiatives : studies in China, Japan and the USA. New
York: Palgrave Macmillan.