International Entrepreneurship and Economic Development Analysis

This report provides a comprehensive literature review on international entrepreneurship and its significant role in economic development. It defines international entrepreneurship as the operation of entrepreneurial businesses on a global scale, emphasizing its importance in expanding market reach and customer bases. The report delves into the strategies employed by entrepreneurs, particularly those involving limited resources, and how they navigate international markets. It highlights the impact of international entrepreneurship on technological advancements, shifts in manufacturing, and the restructuring of the business environment, leading to increased exports and the growth of knowledge-intensive services. The report also discusses the role of entrepreneurs in fostering innovation, creating employment opportunities, and driving economic growth in developing economies. Furthermore, it examines how entrepreneurship has improved business partnerships, facilitated franchising, and enhanced the scope of partnership and collaborative business partnerships across the globe, ultimately contributing to the improvement of living standards and the strengthening of economic development. The report emphasizes the contribution of entrepreneurs to technological advancements and the facilitation of technology transfer, focusing on the impact of entrepreneurs on the global economy.

Entrepreneurship

Table of Contents
INTRODUCTION.................................................................................................................................3
MAIN BODY........................................................................................................................................3
International entrepreneurship and economic development...............................................................3
CONCLUSION.....................................................................................................................................8
REFERENCES......................................................................................................................................9

INTRODUCTION
Entrepreneurship is defined as a process involves drafting, designing, launching a new
business set up. Entrepreneurship is more like converting a new idea into a successful
business model. Henceforth, report will emphasis on the literature review based on the
entrepreneurship at international level. Furthermore, report also analysis the role of
entrepreneurship in the development of economy with the support of literature review.
MAIN BODY
International entrepreneurship and economic development
As per the opinions given by Ahmad and et.al., (2019) international entrepreneurship
is defined as operating entrepreneurial business operations at international level. In order to
expand the growth potential entrepreneurs enter in international market to tap the untouched
market and customer base. Such process of growth expansion is call as international
entrepreneurship. Entrepreneurship consisted as the small business ventures at the initial level
and small business ventures are entitled as the new business leaders. In the recent past few
years’ small business ventures across the globe has entertained growth at a rapidly fast rate
that has allowed them to enter in the international market. Such rapid development of
economic growth has also caused to economic development at the international level.
Entrepreneurship at international level also comprises with social values and importance. As
per the views given by Apostolov, (2017) entrepreneurship is all about converting an unique
idea into an effective economic model. In such a process entrepreneurs play huge role in the
development of society by catering new facilities and services. Author has indicated that
entrepreneurs carry the limited sources of funding which drives them to frame different
operation strategies that seek lesser investment of resources. In international market in order
to cope up with the limitation of resources entrepreneurs follow different strategies based on
the social and economic nature of market. International market drives entrepreneurs to
mobilise economic and social resources that also imposes greater amount of risk and
interdependency. Entrepreneurs create chances in the market by channelizing such economic
and social resources in international market.
As per arguments of Asif and et.al., (2018) international entrepreneurship involves
business operations of entrepreneurial business at the international level. International
entrepreneurship has becomes the new phenomenon as it has proved both social and

economic values to the corporate sector. Many factors has played major role in the
improvement of entrepreneurship business which has also supported entrepreneurs to
influence corporate sector at international level. In international market entrepreneurs aims to
utilise factors such as information technology, communication technology, effective
assessment of growth of knowledge intensive industries, factors associated with reduced
transportation cost, affordable logistic cost and other effective factors that can give a better
space to entrepreneurial business in international market. All such factors played massive role
in the growth of entrepreneurs at international market. All such factors involved in
entrepreneurs business policies and strategies have allowed entrepreneurs to deliver services
and products at the most affordable price structure. In order to take competitive advantages in
international market entrepreneurs also assess about the economic and growth opportunities
available for them in international market. All the business strategies frame by entrepreneurs
related to international market is immensely based on the opportunity available to them. As
per the opinions of Bai, Holmström Lind and Johanson, (2016) growth of entrepreneurs
businesses at international level has also caused to driving shifts of technology manufacturing
and knowledge intensive services which ahs also caused to world wide restructuring of
business environment and the corporate sector. Due to such paradigm shifts in business
environment recent data has indicated that significant increased in the exports has also
witnessed. Growth of entrepreneurship businesses at international level has improved the
exports of technology services and knowledge intensive services at global level. Author has
indicated that this paradigm shifts at one hand improved the informational technology
services at global context but also at other hand due to such shifts labour intensive services
has witnessed the reduction in demand at global level.
As per the illustrations given by Hoppmann and Vermeer, (2019) entrepreneurs have
become the leaders in the corporate sector. Today the society has witnessed the paradigm
shifts in the life style and social values due to advancement of information technology.
Entrepreneurs played huge role in catering advancement in information technology services.
Innovation and creativity is among the key driving factors behind the business operations of
entrepreneurs. With the support of innovation and creative ideas entrepreneurs has catered
affordable and cost friendly products and services in order to meet the requirements and
needs of society. Entrepreneurs has provided major boost to economies at global level.
Developing economies like china, India and other developing economies ahs also witnessed a
rapid growth rate as a result of the growth of entrepreneurship business. Entrepreneurs allow

developing economies to improve the exports to expand contribution in global trade. As per
the views of Jiménez and Alon, (2018) entrepreneurs have provided opportunities to improve
the exports potentials of developing economies like India and China and other economies.
Such economies has played major role in catering information technology services at global
level. Entrepreneurship businesses has also directed to plenty of changes in the business
environment at international level. Entrepreneurs have also improved the scope of partnership
and collaborative business partnerships across the globe. Franchising has also improved
across the globe after the emergence of entrepreneurship businesses at international level. All
the changes become associated with business environment have improved the growth
potential of corporate houses at the international level.
As illustrated by Liu, (2017) entrepreneurs are the emerging global leaders and also
driving the business environment across the globe. All recent changes and development the
world is witnessing in business environment and corporate sector are immensely influenced
with the entrepreneurship businesses. As entrepreneurs have effectively delivered the cost
friendly services at international level all strategies and policies frame by entrepreneurs
directly impact on the business operations of all corporate houses across the globe. Among all
contributions entrepreneurs has done to the economic and social development advancement
of technology and communication systems is consisted as the immense contributions
entrepreneurship businesses has made in the corporate sector at global level. Technological
advancement ahs improved the growth and business development opportunity for all
companies at international level.
As per the opinions provided by Mathias and Williams, (2017) entrepreneurs have
catered effective changes in the business environment at international level. Role of
entrepreneurship business has delivered changes such as innovation, technological
advancement, and facilitation in technology transfer facilities in international context,
multinational corporation, increased focus in research and development activities, and
increased volume of foreign direct investments in most of the emerging world economies
such as India and other developing economies and other changes. Among all the changes in
the business environment and social environment at international level entrepreneurship
business growth has also delivered effective growth in science and technology services in
world that ahs also improved the capacity of delivering operations is considered as the major
contributions entrepreneurship businesses has catered at the international level. As per the
views of Miller and et.al., (2019) entrepreneurs has improved the business synergy at

international level as it delivered plenty of changes with the support of digital technology
transformation and innovation. Entrepreneurs played huge role in the growth of economies
across the globe. Economic development is among the key aspects entrepreneurs have
provided to the society. Entrepreneurs start business operations with the support of limited
amount of investment and resources. The effective services and products also mobilises
public wealth and enables society to take benefits from the success of entrepreneurship
business. Entrepreneurs consist up with limited amount of resources that allows them to
channelize creativity and innovation as a part of business strategies. Such unique ideas and
strategies drive entrepreneurs to cater services in more affordable and cheaper price structure.
As per the opinions of Radović-Marković, Brnjas and Simović, (2019)
entrepreneurship businesses played huge role in the economic development across the globe.
By creating wealth from business operations in international market entrepreneurs
strengthens the growth rate of gross domestic products which also improved the per capita
incomes of people across the globe. With the support of business expansion at international
market entrepreneurs also creates immense employment opportunity for all the young as well
as experienced professionals. Creation of jobs across the globe is among the major
contributions entreprneurship businesses have created in society. In recent few years job
creation is among the major challenge economies across the globe is facing. Developed
economies are also facing the crisis of unemployment and in such a situation by creating jobs
for professionals and young graduates entrepreneurship businesses across the globe has
played crucial role in economic development. As per the views of Reuber, Dimitratos and
Kuivalainen, (2017) employment creation play huge role in the growth and development of
economy. Entrepreneurs have improved the employment creation across the globe not just for
young graduates and professionals but it also improved the growth opportunities for
experienced professionals. As entrepreneurs also seek skilled people to operate business
operations in international market employment creation are among the crucial part of
entrepreneurs businesses. Entrepreneurs like Mark Jukerburg and other successful
entrepreneurs could create employment opportunities in millions in number. All such aspects
played huge role in the gr0wth of economies across the globe.
As illustrated by Schwens and et.al., (2018) entrepreneurship businesses also support
economic development at international level by setting up new business ventures at new
locations in order to expand the business operations. In order to expand the business
operations entrepreneurs set its business units in many undeveloped area or in developing

countries to take competitive advantages. Such locations cater less market competition which
supports entrepreneurs in setting up business units easily. This business expansion strategy
channelizes by entrepreneurs also drives to improvement and advancement of infrastructure
in such locations. Infrastructure play huge role in attracting big corporate entities in such
locations. This also causes to such countries receiving an effective amount of foreign direct
investment which also resulted into economic growth of under developing countries and
economies.
As per the information provided by Thanos, Dimitratos and Sapouna, (2017)
entrepreneurs businesses has improved the economic development of all economies which
also includes developing economies like India and China. As per the latest statistics medium
and small medium enterprises comprises with more than 36 million business unites that has
catered employment to more than 80 million people across the globe. This influence of small
and medium enterprises has improved the GDP growth rate which has also resulted into
significant increase in per capita income percentage at the global level. In United Kingdom
more than 90% of business units are associated with small and medium size business ventures
that have played immense roe in the economic growth of UK. With the support of exports
entrepreneurs also support governments in improving the strengths of monetary funds of
country by increasing foreign capitals in country’s monetary funds.
As information provided by Vadana and et.al., (2019) entrepreneurs could effectively
cater efficient services and product quality at a very affordable price range. This contribution
made by entrepreneurs has improved the standard of living of people across the globe. This
aspect of entrepreneurs businesses has significantly improved the purchasing capacity of
people at international level. Economic development has a direct connection with the
improvement of standard of living of people in society. As entrepreneurs improved the
income by providing growth oriented employment opportunity and it has also improved the
purchasing capacity of people in society at international level. Both the factor played huge
role in improving the social development of community at international level. Cost
affordability aspects of entrepreneurs have also improved the capacity of exports of
developing economies. Exports enable governments to improve the business environment in
country. Author has indicated that exports are consisted as among the main ingredients
behind the economic development. As it cater access to bigger market, more dynamic
consumers and market which drives to huge economic growth of country and entrepreneurs
businesses. As per the author exports also improves the currency value in international

market. All crucial factors involve in entrepreneurs businesses has created more volatile
business environment at international level.
CONCLUSION
Report has concluded how entrepreneurs play role in the economic growth at
international level. Author has specified that entrepreneurship businesses have improved the
economic development by creating effective employment opportunity, infrastructure
development, exports and other effective factors.

REFERENCES
Books and Journals
Ahmad, A. and et.al., 2019. ENTREPRENEURIAL ORIENTATION AND HOSPITALITY
PERFORMANCE: THE MEDIATING EFFECT OF MARKET
ORIENTATION. International Journal of Accounting. 4(19). pp.61-71.
Apostolov, M., 2017. The impact of FDI on the performance and entrepreneurship of
domestic firms. Journal of International Entrepreneurship. 15(4). pp.390-415.
Asif, M. and et.al., 2018. The Role of Social Entrepreneurship in Pakistan and its Impact on
Economy. International Journal of Business, Economics and Management. 5(5).
pp.117-127.
Bai, W., Holmström Lind, C. and Johanson, M., 2016. The performance of international
returnee ventures: the role of networking capability and the usefulness of
international business knowledge. Entrepreneurship & Regional Development. 28(9-
10). pp.657-680.
Hoppmann, J. and Vermeer, B., 2019. The double impact of institutions: Institutional
spillovers and entrepreneurial activity in the solar photovoltaic industry. Journal of
Business Venturing. p.105960.
Jiménez, A. and Alon, I., 2018. Corruption, political discretion and
entrepreneurship. Multinational Business Review.
Liu, Y., 2017. Born global firms’ growth and collaborative entry mode: the role of
transnational entrepreneurs. International Marketing Review.
Mathias, B. D. and Williams, D. W., 2017. The impact of role identities on entrepreneurs’
evaluation and selection of opportunities. Journal of Management. 43(3). pp.892-
918.
Miller, A. and et.al., 2019. Business Models for Energy Entrepreneurship in Emerging
Markets.
Radović-Marković, M., Brnjas, Z. and Simović, V., 2019. The Impact of Globalization on
Entrepreneurship. Economic Analysis. 52(1). pp.56-68.
Reuber, A. R., Dimitratos, P. and Kuivalainen, O., 2017. Beyond categorization: New
directions for theory development about entrepreneurial internationalization.
Schwens, C. and et.al., 2018. International entrepreneurship: A meta–analysis on the
internationalization and performance relationship. Entrepreneurship Theory and
Practice. 42(5). pp.734-768.
Thanos, I. C., Dimitratos, P. and Sapouna, P., 2017. The implications of international
entrepreneurial orientation, politicization, and hostility upon SME international
performance. International small business journal. 35(4). pp.495-514.
Vadana, I. I. and et.al., 2019. Digitalization of companies in international entrepreneurship
and marketing. International Marketing Review.