Entrepreneurship Dynamics in International Emerging Economics

This report explores entrepreneurship in international emerging economies, drawing insights from an interview with Mark Cuban. It emphasizes the importance of dedication, resilience, and a customer-centric approach for aspiring entrepreneurs. The report discusses strategies for competing in local markets, focusing on sales, and adopting technological tools. It also highlights common mistakes made by young companies and the significance of employee satisfaction and continuous learning. The ultimate goal is to provide new entrepreneurs with actionable strategies for building successful organizations by prioritizing customer service, fostering a strong company culture, and embracing the competitive nature of business. Desklib provides access to similar past papers and solved assignments.

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Entrepreneurship in International Emerging Economics
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ENTREPRENEURSHIP IN INTERNATIONAL EMERGING ECONOMICS 1
Table of Contents
Introduction:....................................................................................................................................2
Research Aim and Objective:..........................................................................................................2
Discussion:.......................................................................................................................................3
Conclusion:......................................................................................................................................5
References:......................................................................................................................................6

2ENTREPRENEURSHIP IN INTERNATIONAL EMERGING ECONOMICS
Introduction:
Mark Cuban is the chairman and co-founder of an independent cable network of Denver
and the owner of basketball team of ‘Dallas’. After being fired from the first job, Mark Cuban
decided to start a company and after that ‘MicroSolutions’ was launches after few years. The
research report is based on the suggestion and conversation with Mark Cuban in an interview.
The critical review and investigation are accomplished with the highly communicative interview.
It would help a common people to become an entrepreneur in an emerging market rather than an
employee or a professional.
The report investigates that upcoming entrepreneurs do not require to learn
entrepreneurial skills; however, they would be benefitted from their activities. They just need to
set their goal and put the acute dedication. They should develop a prototype to enhance resilience
and attitude in the determination of success of entrepreneurship (Lewis, 2015).
Research Aim and Objective:
The research report aims to make the readers aware of real world entrepreneurs and
business innovators. The report has an objective to solve the probable problems, fast grow,
skimping on marketing, discussing about treatment of employees and making the cost minimal
while establishing the organization.

3ENTREPRENEURSHIP IN INTERNATIONAL EMERGING ECONOMICS
Discussion:
The entrepreneurs should start his/her company when his/her heart is in it. The well-
known small businesses that could be in better position to compete in local market are online
business trip, increasing the quality and experience in entrepreneurship, offline small business
tips, becoming active in the community, targeting the local government contracts,
transformational mentality as well as focus on the experience of customers (Read et al., 2016).
The local business entrepreneurs require small businesses throughout the survival period
in the market place (Gružauskas & Statnickė, 2017). It is recommended that ideas are easy and
the execution is hard. Besides, the truthfulness within themselves is the reason of success in
businesses. Enormous sums of money and strong connections would not matter for the success of
an organization if its owner does not have the wish to crush the competition.
The focus on sales should always have the priority. The entrepreneur must establish a
culture of sales in his/her organization so the everyone could be involved in sales. According to
Mark Cuban, sales factor cures all the adversities of an organization. Although, entrepreneurs
often feel that they require a proper business plan with the help of infrastructural growth in a
growing organization, but they fail to achieve it (Lupsa-Tataru, 2014).
The greatest mistake made by a young company is to make money too early. An
entrepreneur who would like to be successful in future must not go to the way of making much
profit too early. He/she should invest time, dedication, energy and financial experience to make
money as much as possible (Drucker, 2014). The technological aspects and real-life experiences
must be implemented in entrepreneurship as much as possible. As per Mark Cuban, another

4ENTREPRENEURSHIP IN INTERNATIONAL EMERGING ECONOMICS
crucial insight in this aspect is that every people lives in a unique timeframe where technological
tools are available; so, adoption of technological tools would lead to easier and less expensive
entrepreneurship (Sahut & Peris-Ortiz, 2014). Also, an entrepreneur should arrange an open
office to keep the energy up.
The customer service should be a point where entrepreneurs must highlight. The trust and
loyalty of consumers are the best assets of a successful entrepreneurship. No compromise is
sustained in the context of customer service. Avoidance of sales call by any paid executive is an
indication of pollution in the company.
The preparation for any kind of unwanted situation is necessary. Everyone considers that
entrepreneurship is bit risky and feels that somebody is going to kick his/her ass. Asking for help
in every condition is not at all a good sign of improvement. Mark Cuban addressed that he got
offer from many investors; however, he had hired some people to work with his organization to
get speed and fill the gaps of knowledge about foundation.
After having lots of failures, Mark kept faith on the statement that entrepreneurs never
die. The strategy must not be based on the obsession and the people must be hired on the basis of
love to work (Burns, 2016). The people who fit in the organization should focus on the
development of the organization and not listen much of customers. The entrepreneurs should not
waste downtime business trip to make uncertain deals approved.
Mark advised the new entrepreneurs not to buy swag as well as not to hire a public
relation firm. However, they could make the job fun for employees. The aim is to keep a pulse
on the stress levels and accomplishments of employees and executives and reward them (Munoz

5ENTREPRENEURSHIP IN INTERNATIONAL EMERGING ECONOMICS
& Spain, 2015). They would be advised and suggested by the entrepreneur the way of selling,
technical approaches, design of solution and least resistance for betterment.
Conclusion:
Mark Cuban suggested superb strategies for new entrepreneurs that are- not to obsess
over new policies, hire people who fit for the cultures of company and not to worry about perks
from the outset. The new entrepreneurs must generate sales to have a successful organization.
The executive should spend time with the recruiting employees and give importance to them who
will play an important role. The upcoming entrepreneurs must focus on the satisfaction of the
employees. Cuban also suggested to stick with the facts of knowledge and experience for moving
onto superior products and standard establishment of the knowledge.
The upcoming entrepreneurs would know that way of struggling. Mark said that it did not
matter how many times entrepreneurs have failed, you only have to be right once. That is why
the companies must like the way of competition. Business is an ultimate sport where
entrepreneurs must treat their consumers as their own and provide proper priority. The way of
avoiding mistakes is not easy that may require to alter certain habits. The entrepreneurs must
identify the ways where they went wrong and avoid making few mistakes in future. The smarter
hustle and pay-off with hard work would enable to make the dreams of entrepreneurs achievable.

6ENTREPRENEURSHIP IN INTERNATIONAL EMERGING ECONOMICS
References:
Burns, P. (2016). Entrepreneurship and small business. Palgrave Macmillan Limited.
Drucker, P. (2014). Innovation and entrepreneurship. Routledge.
Gružauskas, V., & Statnickė, G. (2017). FEATURES OF THE FORTH INDUSTRIAL
REVOLUTION: TAXES CASE. Management (16487974), 31(2).
Lewis, J. (2015). Diversity Speaker Series: Healthcare Innovation & Entrepreneurship.
Lupsa-Tataru, D. A. (2014). Entrepreneurship and Creativity. A Comparative Study. Bulletin of
the Transilvania University of Brasov. Economic Sciences. Series V, 7(2), 139.
Munoz, J. M., & Spain, M. (2015). International Entrepreneurship: The Case of Hispanic Latino
Entrepreneurs in the USA. ADVANCES IN GLOBAL BUSINESS RESEARCH Vol. 12,
No. 1, ISSN: 1549-9332, 1.
Read, S., Sarasvathy, S., Dew, N., & Wiltbank, R. (2016). Effectual entrepreneurship.
Routledge.
Sahut, J. M., & Peris-Ortiz, M. (2014). Small business, innovation, and entrepreneurship. Small
Business Economics, 42(4), 663-668.