Small Business Going Global Reflection

This reflective journal entry details the learning outcomes from a "Small Business Going Global" module. The author discusses gaining insights into international entrepreneurship, including the importance of international entrepreneurship, motivations for going global, identifying international business opportunities, and developing a global business plan. Key concepts covered include PEST analysis, exporting (direct and indirect), CRM, FDI, joint ventures, mergers, market diversification, and risk mitigation. The author also reflects on the development of various skills, including research, decision-making, communication, and leadership, through the course material. The reflection highlights the impact of the module on the author's understanding of global business and the factors influencing its success.

SMALL BUSINESS
GOING GLOBAL
MODULE

REFLECTIVE
From the module of small business going global, I have come across with different new concepts
and 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 skills
and these are:
Importance of International Entrepreneurship
With the help of it, I come to know the different types of business organizations along
with the importance of the same. Further, my concept regarding the strategic international
entrepreneurship has been improved and I have also come across towards the different
challenges and opportunities in the International entrepreneurship. Further my concept regarding
the traditional motivations have been improved as I come to know the sale in other markets and
also the changes which are coming in the domestic condition of the business. Further, I have
come to know the difference between the international and domestic entrepreneurship. This has
been effectively understood with the help of PEST analysis. Moreover, my knowledge relating to
the exporting has been cleared and I also come to know about the indirect and direct exporting
which are sub part of the same point.
Further, international entrepreneurship consists of CRM procedure which generally help
me to know more regarding the same topic and also to make a healthy and precise relationship
with the customers around the globe. Further, I have understood the essential factors for
international entrepreneurship as I will focus on increase in sales and profits, I will also focus on
lowering down the manufacturing costs, I will take the advantage of the cheap labor and at last I
will see the best of the growth opportunities along with utilizing the best of the talent and
managerial competence. Further, being small business going global has refreshed my concepts
relating 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 the
world.
Motivations for small business going global
There are different reasons for going global and this topic generally helped me to know
the drawbacks which I need to overcome in order to reach different world. From this topic, I
have come to know that diversification is necessary to know the markets along with the
customers 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 can
go global with the reduction in the dependence of the current market along with spreading more
of the risk. I have come to know the different counter season fluctuations which will help me to
sell the seasonal product in different countries throughout the globe. Further, with the help of this
topic, I come to know the things which are necessary for growth and this will certainly give me
motivation to take the business globally. Moreover, I come to know that tapping the smaller
countries with the best of the products and services will help business venture to increase more
of the sale and productivity. Further, on this contrary side I have also come to know that small
customers will not increase that much of the sale and for this I will be in need of larger market to
increase more of the sale and productivity. Moreover, I also come to know that local competitors
affects the sale and productivity as they tend to sale the product and services at a price lower than
the competitors price. At the time of going global, I will take this thing into consideration.
Identify and select International Business Opportunities
International business opportunities will help me to go global and this will help me to
know about expanding the market share along with increase in sale of gods and services of the
companies merchandise. Importing and exporting is the greatest opportunities I have seen in the
international business environment. Further, I also got familiar with the term licensing and
franchising as it allows the foreign company to sell the products. Further, there are different
franchise models which I have to know and this will help me in future whenever I will be
developing any type of business plan along with the future opportunities. Moreover, contract
manufacturing and outsourcing too are the part of the same topic which I am discussing and this
will help me to understand the manufacturing in some other countries of the product because
organization gets cheap labor, along with the low production cost. Further, I have also come to
know the many a change which are taking place in the 21st century and organization is focusing
on this concept in order to go global. Further, efficient technology is reducing the work of labor
and it also helps the business venture to lower down the administrative cost along with the
increase in profit. This topic certainly helped me to clear all my concepts and doubts relating to
the expanding globally. Further, i have also gone through with different strategic alliances and
joint ventures which has brushed up my concepts relating to the enhancing of the marketing
efforts and also building effective sale and marketing share. Further, I have seen that improving

product and service will help organization to increase more of their efficiency and capability to
earn great amount of revenue as well as profits.
Developing a global business plan
While going through the small business going global module I have developed the
exorbitant ideas and the opinion with respect to the International entrepreneurship. My
perception in certain areas has been changed. I have learned that there are various factors that
contribute in the establishment of the business globally and preparing a plan for that. It has
enhanced my research skills as I have undergone the various methods to identify the factors
contributing the revenue generation and driving profits out of the business. My decision making
skills is also enhanced as i had to make crucial decisions while deciding the preference and
relevance of the factor's contribution. My communication skills are improved to the great extent.
I have experienced the transition in my perception about the global business plan. Earlier I had
the opinion that the business in different countries are indifferent to the environmental factors but
I have been encountered with certain results that infer, while establishing the global business,
there are many factors that contribute to it such as the political factors, economic factors,
technological factors and legal factors. I have figured out that the decisions taken by the
government and the legislative bodies affects the operational management, decision making
process and the profitability of the organization. While developing the marketing strategy and
plans in the business plan by creative and cognitive thinking is enhanced to the great extent. My
understanding of using different marketing models for the positioning and the segmentation of
the market is improved with the practical applicability in the real issues and markets. Further, my
interpersonal skills are also improved. Further, I have developed the leadership skills in me as
the research is conducted with the collaboration of other members. My skills for the team
management and team building are improved.

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REFERENCES
Journals and Books
Online
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