Growing and Internationalizing the Entrepreneurial Firm
13 important questions on Growing and Internationalizing the Entrepreneurial Firm
Define strong and weak ties
Strong ties are more durable, reliable, and trustworthy.
Weak ties are less durable, reliable and trustworthy.
efforts to cultivate, develop, and maintain strong ties are usually more intense than those for weakties.
Entrepreneurs often rely on strong ties- typically 5-20 individuals for advice, assistance, and support.
Personal networks tend to have a stronger impact on firm performance.
The most advantageous positions are those well connected to a number of players who are otherwise not well connected.
In other words more centrally located network positions are helpful.
What has emerged in response to lack of financing opportunties
What is micro finance?
Involves lending small sums ( US$50- US$300) to start small businesses with the intention of ultimately lifting the entrepreneurs out of poverty.
starting in Bangladesh in the 1970s by Muhammed Yunus
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Routes of entrepreneurial Harvest & Exit
- Selling an equity stake
- Selling the business
- Merging with another firm
- Considering an Initial Public Offering (IPO)
- Declaring bankruptcy
Selling an equity stake
Can substantially increase the value of the firm and therefore excellent harvest option.
But entrepreneurs must be willing to give up some ownership and control rights.
Advantages of an Initial Public Offering (IPO)
- Improved financial condition
- Access to more capital
- Diversification of shareholder base
- Ability to cash out
- Management and employee incentives
- Enhanced corporate reputation
- Greater opportunity for future acquisitions
Disadvantages of an Initial Public Offering (IPO)
- Subject to the whims of the financial market
- Forced to focus on the short term
- loss of entrepreneurial control
- New fiduciary responsibilities for shareholders
- Loss of privacy
- Limits of managements freedom of action
- Demands of periodic reporting
Some start-ups attempt to do business abroad from inception: these are called
What are the 3 ways SME's can enter foreign markets:
- Direct exports
- Licensing/franchising
- foreign direct investment ( though greenfield wholly owned subsidiaries, strategic alliances and/ or foreign acquisitions
2 major drawbacks for an FDI
5 strategies for SMEs to internationalize without leaving their home country:
- Indirect exports ( through domestic. Export intermediaries)
- Supplier of foreign firms
- Franchisee/Liscensee of foreign brands
- Alliance partner of foreign direct investors
- Harvest and exit (through sell-off to foreign entrants)
Supplier foreign firm
MNEs confront 2 sets of pressures:
- Cost reduction
- local responsiveness
The question on the page originate from the summary of the following study material:
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