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VSRD-IJBMR, Vol. 2 (5), 2012, 213-222


Entrepreneurship and Challenges in Global Environment

Vipin Chaudhary*, 2Sohan Singh Rawat and 3Pushkar Saxena

The last decade of the 20th century has shown that modern changes can occur in a short period of time in a short period of time in our modern economic history. If we look our rear view mirror, we will notice our bridges for travel no longer constrain us to a limited portion of a specific state, country or Governing country. The roadmap has been extended beyond borders, which has changed the scope of our national and global market place. Many people have cruised the globalization steering wheel down the information superhighway. Many organizations have sped this journey up through the development and changes of corporate compatibility. Some people have placed their vehicle on cruise control making sure to stay on the path that on the path that leads through each valley, Canyon, and causeway. What is the purpose? Who will be the one behind the wheel establishing the new face of International expansion? The spirit of international Entrepreneurship is a major contributing factor that has affected the way people expands their horizons. No longer does one feel that their Road to Entrepreneurism stops within the borders of their own country. The key elements of Entrepreneurial drive and the economical, political, technological and social changes that have occurred over the last decade have dramatically created business opportunities for global business. Keywords : Entrepreneurship, Technology, Economic Compatibility, Global Market, International Markets.

The entrepreneurs provide a magic touch to different area, whether urban, rural, and international sector. International Entrepreneurship has led pioneers and others down the paths of entrepreneurship freedom stopping at every nook, corner, and valley to find out the opportunities that will unfold in today’s emerging international
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Assistant Professor, Business Administrative Department, Doon Business School, Dehradun, Uttarakhand, INDIA. *Correspondence : coolvipinchoudhary777@rediffmail.com

2012 markets. restaurants.adventure with an urge to do some . Page 214 of 222 . Establishment of other national and international institutes to support business among nations of the world. cleaning.Vipin Chaudhary et al / VSRD International Journal of Business & Management Research Vol. Though we should not forget certain Psycho-Social Barriers which hinders the growth of women entrepreneurs. Governments of nations withdrawn some restrictions Technology and inventions spread into the world. insurance and manufacturing The New Thrust suggests following two factors pulling or pushing women in an entrepreneurship Factors leading women to be an entrepreneur: Women entrepreneurs choose a Women takes up business enterprises to Profession as a challenge and an get over financial difficulties and respond. 2 (5). Their motivation is one of pro-activeness in their initiatives to be a steward for change through innovative products or services. cultural. With the spread of education and new approaches/awareness. liking for business and circumstances to have an independent occupation. Improved risk taking ability. They have a creative mind that can think independently about ideas of success and failure. Encouragement to innovations and inventions. education. 2. Promotion of healthy completions among nations Consideration increase in government assistance for international trade. Canada. 4. WOMEN ENTREPRENEUR Women entrepreneurs have been making a significant impact in all segments of the economy in India. women entrepreneurs are achieving higher level of 3E’s. hotels. 3. OPPORTUNITIES          Free entry into world trade. ENTREPRENEURIAL COMPATIBILITY Entrepreneurial Drive is a society that is unlike other organizations existence in today’s global economies of scale. The areas chosen by women are retail trade. Australia and the United States. Great Britain. The Entrepreneur’s passion is to conquer and seize opportunities that most individuals would not tackle and do not have the emotions to stomach. Benefits of specialization. Entrepreneurs have established themselves as taking risk and leaders of optimism. namely: (i) Engineering (ii) Electronics (iii) Energy. Most Entrepreneurs are known for their hard work and their dedication to their respective businesses. Germany.suability is thrust on them due to family -thing new. These unique men and women make up a strong percentage of today’s innovator’s to be the leaders of global expansion in the 21st century.

The entrepreneurial Drive sets the table for everyone to have the business savvy or opportunity to succeed. Women entrepreneur should more competitive and efficient in the local & international market. Use should invite successful women entrepreneurs from foreign countries. should provide separate financial fund of women’s entrepreneur. Exploitation of small and poor countries. CHALLENGES         Problems of raising equity capital Difficulty in borrowing fund. Problems of TRIPS and TRIMS. SUGGESTIONS       Govt. 7. 2012  Social and cultural development 5. Problems of availing raw-materials. KEYS OF ENTREPRENEURIAL DRIVE Entrepreneurs have a unique form of identity from their inception as being leaders in our Business forefront. Problems of obsolescence of indigenous technology Increased pollutions Ecological imbalanced. These keen attributes lead highly talented individuals to be less resistant to Change and provides them with a burning desire of resiliency to succeed.Vipin Chaudhary et al / VSRD International Journal of Business & Management Research Vol. We should provide her special infrastructure facilities whatever she deeds. should felicitate top ranked women’s entrepreneur. 2 (5). The Key Ingredients to Entrepreneurial Drive:    Seizes opportunities for personal and professional benefit The creative Ability to develop business opportunities Entrepreneurs are Independent thinkers Page 215 of 222 . Govt. etc 6. Thought-cut completions endangered existence of small companies. should arrange special training programmers of women entrepreneurship Govt.

Small businesses like Robert Kushner’s Pacific China Industries Ltd. Many corporations have faced the difficulties of working with Multinational corporations and the powers of strategic alliances in the China markets. by producing goods for the Chinese Market. smaller firms have the created ability to develop business opportunities through smaller Companies who take less resources and operational cost to secure an opportunity in the global Market space. Today. 9. One contributing Page 216 of 222 . multinational corporations (MNCs) from the United States had little competition in global markets’ In fact. as China has liberalized its economy. Investments ii. Volkswagen and other major automobile manufacturers are drastically expanding their Operations in China. They have to be innovators to the products. major multi nationals have found making money in China considerably Harder than expected. MULTI NATIONAL CORPORATIONS AND GLOBAL MARKETS From the late 1940’s through the late 1960’s. Entrepreneurs have a tendency to be a hard worker and they carry these same Expectations into their environment. GLOBAL OPPORTUNITIES FOR SMALL BUSINESSES Yet more than often not. by major organizations like GM. Multinational corporations were The only forms of organizations allowed eating in the lion’s den of China for several years. The behemoths have faced several roads that are hard to overcome because Of their intensive size and labor costs. small entrepreneurs and businesses have been able to seize the opportunity in the international markets of China. The entrepreneurial spirit establishes one’s ability to be a risk Taker and have a vision for the success of their idea. 8. The corporate streamline of a major multinational Organization only absorbs the ideas of a loose idea thinker. several large companies have prospered by moving manufacturing into China or more rarely. iii With intensive operational cost. And services they sell and a leader that reflects the environment of their strategic vision. Innovator. Over the past two decades. 2 (5). Optimism drives their spirit and the uncertainty does not bother these types of individuals. have been able to open the gates of China and have been well received in the Chinese market. 2012       Hard worker and so is their environment Optimistic-Uncertainty does not bother these types of individuals.Vipin Chaudhary et al / VSRD International Journal of Business & Management Research Vol.The strongest quality of an Entrepreneur The ability to be a Risk taker The ability of an entrepreneur linked to their leadership as a Visionary An Entrepreneur is a Leader The Entrepreneurial drive seizes opportunities that will benefit them both personally and professionally. More and more American entrepreneurs are embarking on the road to China and many have found their fortunes.

Europe and other countries have seen rapid changes to entry barriers into key markets for small business that offer products and services 12. If they are unsuccessful in their environment. major internal combustion in major corporations leading to corporate failure. 10. the U. Each geographical region of the world now has been integrated to the advancement in technology and services. iv Robert’s personal savvy led him to China. small businesses have actually been one of the main drivers of global Page 217 of 222 . The issues of foreign trade have conducted barriers for entry for all opportunists who would like to expand their business into global markets. and the wars in Iraq. This threshold has developed several key communication channels that have broken down the environment of semantics and sparked the interest for organizations to consider global integration.S. Though many U. The economic picture in the United States has played a major role in the impact on the emerging markets in Eastern Europe.S. ECONOMICAL CHALLENGES OF INTERNATIONAL ENTREPRENEURSHIP The economic compatibility that will lead the wave of International expansion through hearts of compassion and new ventured entrepreneurs will have to adapt and change to the constant economic filters of geographic economics. consumers associate globalization with leading multinationals like Coca-Cola or GE that have huge operations in many countries. The United States budget deficit. 2 (5).S. 11. These economic events have played a significant impact on the judgment for idealist to produce opportunities in the national and global markets. and the U. Asia and Latin America. The United States has seen a rise in debt over the past few years. Some major corporations embrace this spirit and formulate the ideas to be incorporated with their strategic plans and vision. vi. 2012 factor to their success as a small business entrepreneur is the research and study time placed in the international markets with a smaller team focus and a smaller scales strategy that has captured the short-term audience of the Chinese market. From mid-2000. His professional drive helped him to understand the cultural differences that would lead to the expansion of his company’s products and services.Vipin Chaudhary et al / VSRD International Journal of Business & Management Research Vol. GLOBAL MARKET INTEGRATION The economic picture today is one of several bundled hot buttons. It has developed adverse effects on short and long-term interest rates. The people who are “outside the box” and have difficulty conforming to structure remove themselves from the foundation of a corporation. THE ENTREPRENEURIAL TEST Entrepreneurial compatibility is influenced by people who think independently. dollar have been exposed by the debt linked to the United State government and policy. 2001. The traditional distribution structures in Japan. the terrorist attacks of September 11. the entrepreneurial tendency is to take the optimistic approach and leave the corporate structure and develop a flat structure with the correct environment for business. global interest rates. and global economy has weakened significantly following one of the largest stock market declines in the postwar period.

An understanding of global inflation is key to build opportunities in international entrepreneurship simply because it is a foothold to your revenue streamline in your international venture(s) of business. 2012 integration.S. between 1987 and 1999. The economies of industrialized world have entered their mature state of the product life cycle and will be more than modest over the next twenty years. 14. The Organization for Economic Cooperation and Development estimates that the economies of the OECD member countries will expand about 3 percent annually for the next 25 years.000. Worldwide competition gives an opportunity for entrepreneurs as well as the buying consumer population. which provides outlets of competition. With the continued strengthening for opportunities in international entrepreneurship one must focus on the continued strengthening and creation of regional market groups: 15. Organizations like the World Trade Organization (WTO) were formed to help the social.S. 2 (5). inflation is a universal phenomenon with all currencies tied together. In short. Inflation is a process in which the average level of prices increases at a substantial rate over a considerable period of time. EUROPEAN UNION (EU) NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA) ASEAN FREE TRADE AREA (AFTA) FREE TRADE AREA OF AMERICA (FTAA) Page 218 of 222 . 13. political. the same rate as the past 25 years. to 224.Vipin Chaudhary et al / VSRD International Journal of Business & Management Research Vol. the number of small and mid-sized U. GLOBAL INFLATION According to Grolier's On-line Encyclopedia. As competition develops in certain markets the contingency for protectionism will become the hot button in most respective markets. By 1999. though smaller exporters still only accounted for one-third of total U. According to the U. You should know your state of controllable and uncontrollable initiatives when entering a market. exporters more than tripled. more money is required to buy a given amount of goods and services. Department of Commerce. The main concern of the 21st century will be the geopolitical forces that monitor and issue policy for the exchange of goods and services in the global markets. export sales. The passions for trade will grow and has already established this trend in the last decade of the 20th century. Global inflation outlines the environment for which you formulate certain strategies as they affect different segments of the global market space. THE INTERNATIONAL ENTREPRENEUR POLITICAL PERSPECTIVE The emerging global economy brings together unity and global nations. ix. The roadways that open also create a market capitalization which endorses free enterprise in new markets and small markets that are considered large enough to become viable opportunities. When an entrepreneur is formulating a strategic decision to enter a global market you should keep in mind the different geopolitical challenges. and economic changes that will lead the global economy to the future victories in the International Trade and Policy.S. For the first time in the history of the world. 97 percent of American exporters were small businesses.

Most of this is caused by power and influence from top-level management and corporate streamlining. Page 219 of 222 . The chain of command takes control and the end result is the loss of entrepreneurial-minded employees who are disenchanted with bureaucratic organizations. In return. These examples illustrate that the world has become a global outlet and community. SOCIAL AND CULTURAL DIFFERENCES IN INTERNATIONAL MARKETS : CORPORATE CULTURE AND ENTREPRENEURSHIP Since the 1990’s. New technologies and the pursuit for core competencies has led to growing levels of international competition The pursuit of corporate entrepreneurship as a strategy to counter these problems. When an entrepreneur seizes an opportunity in global markets there are several factors he or she should consider to entering an emerging market for global business: . The Corporate Culture has also formed a relative deprivation towards many entrepreneurial spirits that exist in this organizational culture. The spirit of the entrepreneur has perceived weakness in the traditional methods of corporate management. however. 17. Globalization has led many organizations to adapt to working with people of different ethnic decent and understanding the opportunities to work with managers in different markets representing different cultures. 16.Vipin Chaudhary et al / VSRD International Journal of Business & Management Research Vol. creates a newer and potentially more complex set of challenges on both a practical and a theoretical level. The word globalization has helped link doors that used to be closed. To work effectively in different cultures. A British firm owns Burger King. 2012 SOUTHERN CONE FREE TRADE AREA (MERCOSUR) ASIA-PACIFIC ECONOMIC COOPERATION (APEC) The market groups have enabled entrepreneurs into emerging markets and help to protect policy and practices of business worldwide. the need to pursue corporate entrepreneurship has arisen from a variety of pressing problems including: technological changes. organizations need guidelines to direct or redirect resources towards establishing effective entrepreneurial strategies. and McDonald’s sells burgers in many different eastern countries. xiv. On a theoretical level. and improvements in the marketplace. The bureaucracy enables other organizations to find opportunities and opens the door for organizations that possess a flatter structure. American companies receive almost 75 percent of their revenues from sales outside the United States. WORKFORCE DIVERSITY AND GLOBALIZATION Organizations understand that they are no longer constrained to their natural national borders. 2 (5). entrepreneurs have become capable of working with people from different cultures. researchers need to continually reassess the components or dimensions that explain and shape the environment in which corporate entrepreneurship flourishes. Entrepreneurs will constantly have to examine the way they conduct business and remain flexible enough to react to the rapidly changing global trends to be competitive. entrepreneurs must understand the significance of the cultures they wish to build relationship and customer rapport as well as adapt their management style to their differences. innovations. On a practical level.

Everyone knows the road of having success in the corporate environment of small.  The Internet and its expanding role in International markets Page 220 of 222 .Vipin Chaudhary et al / VSRD International Journal of Business & Management Research Vol. Technology moves at a record pace and sometimes when obtained is already obsolete. 2 (5). increased competition and continued growth in global markets make today's opportunities to entrepreneurism remarkably different from what it was only a few years ago 19. Free Enterprise has been an incredible advantage to Americans in our national democracy. WHAT CAN BE LEARNED? SUCCESSFUL BUSINESS OPPORTUNITIES IN INTERNATIONAL ENTREPRENEURSHIP Most people understand the challenges they face when they opt to go into business for themselves. providing local inventory. The freedom of private business to organize and operate for profit in a competitive system without interference by government beyond regulation necessary to protect public interest and keep the national economy in balance only exists in democratic forms similar to the United States. Encouraging others and building an organizational environment that shares the optimistic uncertainty with a vision end mind will lead to a successful organization in today and tomorrow’s global society. In today’s world technology is a challenging and ever evolving field. Do you know if you are entrepreneurial compatible? 20. New computer technologies. ALTERNATIVE APPROACHES OF INTERNATIONAL ENTREPRENEURSHIP The International Entrepreneur must know that he will place allot of emphasis on work ethic through the power of a vision or growth image even if it is only an illusion. The opportunities for business opportunities in the international market place for an entrepreneur are not as challenging as they were just one decade ago. medium and large corporations. The entrepreneurial leader must model the way for the organizational community to understand their vision and purpose. ENTREPRENEURIAL SAVVY The professional benefit of being successful with an International business opportunity will depend on one’s self as well as enabling others to act and share in the creative of the organization’s mission. 21. So how does that affect pursuing opportunities in our global society? Our assumption must take us back to the most important questions that anyone pursuing or seeking a business opportunity must face. In perhaps the most crucial strategy that must be set in motion early for a business opportunity to be successful from its embryonic beginnings. Allot of soul searching will transpire for the entrepreneurial drive to catch on as a fever that is burning hot through their entire organizational community. sales and service. THE TECHNOLOGICAL EFFECT ON INTERNATIONAL ENTREPRENEURSHIP Technology has been a key to help moving products from manufacturer to end-user. There are several alternative approaches that can be utilized as a competitive advantage for the emergence into global markets. The organization as a whole must be optimistic and look for the opportunity to produce results. The entrepreneurial drive must lead others to understand their importance of ownership and empowerment in the organization. They must ask as stewards who understand the organizational culture and environment. 2012 18. technical product support.

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