ARTICLE REVIEW

TITLE : EFFECTS OF INTERNATIONIAL MARKETING

ENVIRONMENTS ON ENTREPRENEURSHIP
DEVELOPMENT

PRINCIPLES OF ENTREPRENEURSHIP (ENT530)

FACULTY & PROGRAMME : AC220 BACHELOR IN ACCOUNTING (HONS)

SEMESTER : SEMESTER 4
NAME : KHAIRUNNISA BINTI MAHADZIR (2020974443)
GROUP : AC220B4F
LECTURER : MADAM NORFAZLINA BINTI GHAZALI

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 ACKNOWLEDGEMENT

Throughout the completion of this assignment, many people have done their best in
helping me with this project. The moral support and advice they gave to me really helped me
a lot and therefore I would like to thank all of those people who involve in this article review
regarding Entrepreneurship.

First of all, as a Muslim, I would like to thank Allah SWT as I am able to complete this
assignment smoothly. I also would like to express my sincere gratitude to my ENT530 lecturer
Madam Norfazlina Binti Ghazali for giving this assignment and provide us the students with
clear guidance. With all the guidance provided, this assignment can be done perfectly with all
the requirements needed.

Next, I want to thank my classmates who willing to help and even share some of the
information. By doing so, I feel more confident and gained new knowledge. I am truly thankful
for that. Not to forget, my friend Amiratun A’tiqah who has been with me since day one of this
project was assigned, thank you for always be there with me whenever I need some help.

Last but not least, I am thankful to everyone who involves directly and indirectly by
supporting me especially my parents for being supportive and understanding until I managed
to complete this assignment on time without any problems.

Thank you.

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 TABLE OF CONTENT

PAGE

TITLE PAGE i
ANKNOWLEDGEMENT ii
TABLE OF CONTENT iii

1. INTRODUCTION 1
2. FINDING AND DISCUSSION 2-4
3. CONCLUSION 4
4. REFERENCES 5
5. APPENDICES 6

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INTRODUCTION

The article that I choose is the Effects of International Marketing Environments on

Entrepreneurship Development written by Agwu and Onwuegbuzie. The article is more
focused on international marketing environments and that was the main reason why I decided
to go with this article. I wanted to know more about international marketing and how to
penetrate the world market. This article discusses the circumstances that might happen if the
entrepreneur decides to enter the international market since it is definitely opposite from the
domestic market and more challenging. Therefore, research made by Agwu and Onwuegbuzie
stresses the challenges entrepreneurs might face in developing economies so that they can
be prepared for future consequences.

However, the article also highlighted that few international environmental factors
discouraged and stop the entrepreneur to make their business go international. The factors
are political and legal, socio-cultural, demographic, natural environmental, and physical and
technological (PESTEL). Apart from this, every business is obligated to predict or forecast its
market and sales to avoid any lost order, inadequate service, and poorly utilized production
resources. The study also elaborates more on domestic markets and international
competitiveness.

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FINDING AND DISCUSSION

The overall purpose of the article is to educate entrepreneurs on the challenges that
they might occur in developing economies. All businesses in every country will be interfered
with by the government regarding political and legal laws to protect the purity of the
environment and to ensure the growth of the country’s revenue. The entrepreneur must
identify the kind of socio-cultural in each country they want to enter so that they can
brainstorming idea on what kind of marketing mix that suits the market to tackle the customer.
The entrepreneur also might face a shortage of labour if a country has a small population that
will lead to slow production. Besides, the natural environment will affect the business as they
are unpredictable and uncontrollable as said (Umar, February 2018) the company has no
control over the external environment. On the other hand, it is important for the entrepreneur
to quickly adapt to current technology to secure a place in the world or international market.
As we can see, Apple still going strong in business because of technological sophistication
they have. (Thomas, July 2016) competitors find little struggle in recreating many of Apple’s
products.

A new idea that I found in the article is market and sales forecasting are fundamental
to the theory and practice of international marketing activities (Feenstra and Hanson 2005). It
is a must to forecast the sales to avoid any circumstances that might happen. For example,
lost orders, inadequate service, and more. The activity of the business relies on the forecast
of the sales. (Jason, April 2018) finance relies on your forecasts to develop budgets for sales
capacity planning and hiring. The production uses your sales forecasts to plan their cycles. It
proves that market and sales forecasting is a must.

The importance of the study is that it can be used by the newcomer entrepreneur to
be more alert with all the challenges of international marketing environments and tackle all the
problems that occurred by identifying the solution. However, the entrepreneurs should not be
discouraged as the factors that affected the development of entrepreneurial can act as the
determinant success of entrepreneurial in global markets. Entrepreneurial behaviour can be
developed by taking obstacles as a challenge.

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 The research methodology that was used by the author is descriptive and historical
methods in relying on secondary information. since he believes that these methods are very
effective that will enhance the understanding and extend the horizon as proved by (Gill and
Johson, 1991,2010). As we can see, all the examples given on the factors that mitigate the
entrepreneurs to make their business go international most were from an external source from
other researchers, websites, books, and more. No surveys or analyses were conducted in this
study.

The findings showed that there are so many hurdles and concerns for the entrepreneur
to enter the world market and internalization their business. Analyses of PESTEL factors
proved that if they want to break down the walls of the world market they must deal with it. I
strongly believe that in order, for the business to be profitable they must adapt and discover
new and sophisticated technology. By doing so, other competitors are not able to imitate or
beat us no matter how great their product is.

I was so impressed by how perfect the article was with all the details and information
given on the issue of challenges of International Marketing Environments on Entrepreneurship
Development. All the information given is reliable since it was supported by examples from
external sources. Hence, most of the factors stated support how challenging it is to
internalization the business and how much it burdens the entrepreneur. Regardless of how
much it burdens the entrepreneur, we cannot deny that some of the factors also benefit the
country. (Shraddha, January 2018) Many economists believe that intervention of government
in the marketplace does not solve but creates problems. However, some economists argue
that the intervention of government in the economy is essential.

In my opinion, the strength of the article is that the elaboration on each factor of
PESTEL is compact and very informative. The elaboration included with so many examples,
make me as the reader easy to understand the situation and this will be helpful to all the
entrepreneurs especially those who are a newcomer. The author repeatedly said that despite
the factors that might be challenging to the businessman, they might be some determinants
of how successful the business is. Therefore, the entrepreneur will not be discouraged and
will be more excited and enlighten to carry on their business until they become worldwide
known.

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 My opinion on the weakness in the article is that the author should include the solution
or ways to overcome the factors that affect the marketing entrepreneurship for each factor
PESTEL. This is because it can be a guide to those newcomers for them to tackle the problems
with solutions and make them more confident.

CONCLUSION

The conclusion of the study is that it is not that easy to enter the world market however
it also not impossible to internalization the business. It is all ups to the entrepreneur how far
they want to go and how successful they want to be. Our life will always be challenging as
said by (Charlie, September 2010) We often think that we’ll reach a point in our lives where
we don’t have any challenges, but in every stage of our lives, ventures, careers, or
relationships, we’ll be challenged by both the things we expect and the things we don’t.

The business should not ignore all the factors as it also acts as determinants of the
success of the business. (Umar, February 2018) developing marketing strategies should
include considering environmental factors so an accurate picture of the market trends and
environment can be presented and to understand where the company is standing.

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REFERENCES

Shraddha Bajracharya, (January 10, 2018) Effect of Government Intervention in Businesstopia

https://www.businesstopia.net/economics/micro/effect-government-intervention

Umar Farooq, (February 20, 2018) Environmental Factors Affect

https://www.marketingtutor.net/environmental-factors-affect-business/

Thomas Bush, (July 11, 2016) PESTLE Analysis: Technological Factors Affecting
https://pestleanalysis.com/technological-factors-affecting-business/

Charlie Gilkey, (September 13, 2010) There Will Always Be Challenges”

https://www.productiveflourishing.com/there-will-always-be-challenges/

Feenstra, R., & Hanson, G. (2005). Ownership and control in outsourcing to China: estimating
the property-rights theory of the firm. Quarterly Journal of Economics, 120(2), 729–761 May

Jason loh, (April 27, 2018), Sales forecasting fundamentals: how to stay ahead
https://www.anaplan.com/blog/sales-forecasting-fundamentals-stay-ahead/

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APPENDICES