The Global Environment for Entrepreneurship Flashcards
(32 cards)
Entrepreneurs involved with the
global marketplace.
Global Entrepreneurs
They seize the opportunity to
interact with people of different
nationalities and cultural heritages.
Global Entrepreneurs
They rise above nationalistic pursuits
to see the big picture of global
competition without abdicating their
own nationalities.
Global Entrepreneurs
They have a core language plus
working knowledge of other
nationalities.
Global Entrepreneurs
Global Thinking
Engagement in the international
markets have been facilitated thru:
- a decline in trade barriers, and
- emergence of major trading blocs
is important because
today’s consumers can select products,
ideas, and services from many nations
and cultures.
Global Thinking
Entrepreneurs learn to design and
adopt strategies for different countries.
Global Thinking
Diaspora
People who have settled ________ their ____________
far from ; ancestral
homelands
- Have been a part of the world for thousands of
years
Diaspora
Diaspora
The movement, migration, or scattering of a
people _____ an established or ________________
away from ; ancestral
homeland
Powerful Advantages of Diaspora
They speed the flow of information across borders (esp., nowadays through modern ICT).
They create a bond of trust (because of the existing kinships).
They create connections that help entrepreneurs collaborate within a country and across ethnicities.
World Trade
Organization
(WTO)
Est
Jan 1, 1995 Geneva Switzerland
World Trade Organization
Employs experts:
Employs experts: lawyers, economists,
statisticians, communication experts
NAFTA
NORTH AMERICAN FREE TRADE AGREEMENT
WTO Functions:
- Administer WTO Trade Agreements:
- Ensure rules of international trade are correctly
applied and enforced - Handle trade negotiations or trade disputes
- Monitor national trade policies
- Provide technical assistance and training for
developing countries
USMCA
USA
MEXICO
CANADA
- Set in Jan 1, 1994 as an international
agreement among Canada, Mexico and the US
NAFTA
- In 2017, replaced by the Trump Administration
to USMCA (US-Mexico-Canada Agreement)
USMCA
NAFTA
Set in ________-, as an international agreement among Canada, Mexico and the US
Jan 1, 1994
USMCA
In _______ replaced by the Trump Administration
to USMCA (US-Mexico-Canada Agreement)
2017
The
European
Union
founded in
1957 as the European Economic Community
Opportunities for entrepreneurs
- The largest free trade area, linking 444 million people
and producing $17T in goods and services annually - Protected from foreign competition because of local
content laws - NAFTA eliminated trade barriers in nearly all service
sectors (>40% of US GDP is from financial and health
care services) - NAFTA offers strong protection for intellectual
properties: patents, copyrights, industrial design rights,
trade secret rights, etc.
THE EUROPEAN UNION
In _____became a full-fledged economic union
1992
The
European
Union
An economic and political union of ______
* Member states have a combined population of __________
* Bloc GDP is ___- of global GDP
27 member states ; 500M (7.3% of world population) ; 20%
