Basics of IE Flashcards
(37 cards)
According to Shane (2009), what are entrepreneurs expected to do?
to create jobs and be innovative leaders
According to Shane (2009), what do entrepreneurs actually do?
the typical entrepreneur is not innovative and generate little wealth and few jobs.
How does Oviatt & McDougal define IE?
The discovery, enactment, evaluation and exploitation of opportunities, across national borders, to create future goods/services (Oviatt & McDougal, 2005).
What are the phases of Entrepreneurship?
1) Intention,
2) activity,
3) Outcomes (i.e., patents, IPR, financial).
What is the Global Entrepreneurship Monitor (GEM)?
A research program that measures economic growth from IE, both in entrepreneurial behaviour (individual) and national context (macro).
What is meant by market selection?
Choosing which market to enter based on fit, distance, and opportunity, e.g., niche, strategic partnering, global networks, …
What is considered in scope of expansion?
- Geographic,
- market depth,
- entry mode (i.e., export, franchise, joint venture, …),
- cultural adaptation,
- network integration.
What are key implications for startup growth?
More complexity, resource strain, and need for structure - i.e., pressure on HR, finances, the entrepreneur’s time, and managerial challenges.
What are the two main issues for startups?
Can we, in the short run, generate enough cash to break-even and repair/replace capital assets?
And can we generate enough cash to stay in business and finance further growth?
What are causes of startup failure?
- Issues with the idea (just doesn’t work, not getting IP’s),
- planning (no plan, no plan B/C, scaling too early),
- leadership (no mentors, burnout, ego, partners, …),
- finance (bad accounting, running out of money, …),
- HRM (not hiring the right team),
- product launch (timing, location),
- marketing,
- sales (no sales, wrong pricing, i.e., cost issues),
- operations management (business model failure, legal, poor execution/product).
How does Alverez et al. (2013) define opportunities?
(Alvarez et al., 2013).
A market imperfection - a potential of realizing economic wealth or blended value, i.e., financial, social, environmental.
What are the 4 types of entrepreneurial ideas?
Matrix: x-axis = novelty, y-axis = usefulness.
Highly novel/less useful: strange.
Highly novel/highly useful: revolutionary.
Less novel/less useful: bad.
Less novel/highly useful: evolutionary.
What is included in Ghemawat (2001), CAGE-distance framework?
Cultural, Administrative, Geographic, and Economic distances between countries (Ghemawat, 2001).
What is an IEO?
International Entrepreneurial Organization (IEO)
What is the difference between a business model and a business plan?
A business plan is a long, strategic document for investors;
a business model explains how value is created and delivered, short and actionable.
What are business models about?
Creating, delivering and capturing value.
What are the classical growth strategies?
Ansoff (1965) - growth matrix: market on x-axis, product on y-axis.
Market penetration,
product development,
market development,
diversification.
What is meant by a ‘New Breed of Entrepreneurs’?
Due to globalization as entrepreneurs have more experiences in education, work, social, network, etc.
What are the 5 elements in the process of IE?
- Who (entrepreneurs + orgs.)
- What (IE)
- Why (globalization)
- Time (expressed through dimensions of early internationalization and fast growth)
- Risk taking and uncertainty coping
What is the difference between risk and uncertainty?
Risk = you can calculate for risks, we have an assumption of what will happen and act in a way that limits risk
Uncertainty = exogenous, unpredictable - we cannot calculate for this or act in a way where we are sure that we will not be affected by something uncertain
What role does the environment/context play in IE?
- Regulatory aspect
- Market
- Environmental
- Producers
- Trademarks/patents/IPRs
- The sector
- culture
- ….
What is opportunity tension in international entrepreneurship?
The motivational gap between the entrepreneur’s current resources and envisioned goals, which drives innovation.
What are dynamic capabilities?
a way to stay competitive advantage as it enables businesss to create, deploy and protect the intangible assets
how an organization develops strengths, extends them (for instance, by developing new business models), synchronizes them with the business environment, and/or shapes the business environment in its favor
Al‐Aali & Teece., 2014
What does according to Teece (2007) make companies more entrepreneurial?
If they have (strong) dynamic in
Sensing, Seizing and Transforming
