McGraw-Hill/Irwin Copyright 2010 by The McGraw-Hill Companies, Inc. All rights reserved.
Introduction
Entrepreneurs find it difficult to both manage and expand the venture they created. To expand a venture, entrepreneurs need to:
Identify opportunities for domestic and international expansion. Develop different management skills. Infuse new entrepreneurial spirit (intrapreneurship).
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Introduction
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Information Sources
General Information
SCORE is a nonprofit organization that provides free online and in-person assistance. Small Business Development Centers provides counseling, training, and technical assistance on all aspects of managing a new venture. The U.S. Chamber Small Business Center provides start-up assistance through Web-based tools and resources. Other valuable Web sites include: nasbic.org, nvca.org, nbia.org, www.fasttrac.org, activecapital.org, c-e-o.org, entre-ed.org, kauffman.org.
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Information Sources
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Information Sources
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Information Sources
Government Sources
Census reports
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factfinder.census.gov www.census.gov/ipc/www/idb
Export/import authority
UN Comtrade www.business.gov/expand/import-export
Information Sources
Search Engines
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There are many key terms for searching the needed industry, market, and competitive information.
Trade Associations
Good source for country-specific industry data.
Trade Publications
Provide information and insights on trend, companies, and trade shows from a local perspective of the particular market and market conditions.
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With a commercial history of only 300 years, the United States is a relative newcomer to the international business arena.
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Technological Environment
The variation and availability of technology are often surprising, particularly to an entrepreneur from a developed country. New products in a country are created based on the conditions and infrastructure operant in that country.
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Figure 5.1
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Motivations to Go Global
Profits. Competitive pressures. Unique product(s) or service(s). Excess production capacity. Declining home country sales. Unique market opportunity. Economies of scale. Technological advantage. Tax benefits.
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Nonequity Arrangements
Licensing. Turn-key projects. Management contracts.
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Entrepreneurial Partnering
Foreign entrepreneurs know the country and culture.
They can facilitate business transactions and update the entrepreneur on business, economic, and political conditions.
Good partners share the entrepreneurs vision, are unlikely to exploit the partnership, and can help the entrepreneur achieve his or her goals.
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Strain on the world trading system and the economic success of countries perceived as not playing by rules. Establishment of bilateral voluntary export restraints to circumvent GATT.
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