International Entrepreneurship

Kahit small lang ito or ikaw na bahala

basta same slide lang sa text na meaning.
Hehe thanks

International Entrepreneurship - is a process

in which firms creatively discover and exploit
opportunities that are outside their domestic
markets.

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 The key reason that firms choose to engage in international entrepreneurship is that, in general,
doing so enhances their performance.
 Entrepreneurial actions in markets outside the firm’s home setting is challenging and includes
risks of unstable foreign currencies, market inefficiencies, insufficient infrastructures to support
businesses, and limitations on market size.
 The report ranking of the most entrepreneurial countries showed that many of the countries were
emerging economies. It also showed that personal and national wealth experienced the highest
rates of growth in the most entrepreneurial countries.

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Culture

– is one reason for the different rates of entrepreneurship among countries across the globe.

Research suggests that a balance between individual initiative and a spirit of cooperation and group
ownership of innovation is needed to encourage entrepreneurial behavior.
 Internal Innovation

Internal innovation

- one primary source of internal innovations are efforts in firms’ research and development (R&D)
function.

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 The ability to have a competitive advantage based on innovation is more likely to accrue to firms
capable of integrating the talent of human capital from countries around the world.
 R&D and the new products and processes can spawn affect a firm’s efforts to earn above-
average returns while competing in today’s global environment.

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Companies have created several means of obtaining employees’ ideas for new products
and other types of innovation:

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Two types of innovation:

1.Incremental Innovation

2. Novel Innovation

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Incremental

- Build on existing knowledge bases and provide small improvements in current products.

- Are evolutionary and linear in nature.

- Basically, incremental innovations exploit an existing technology to provide an improvement

over a current product.

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Novel or Breakthrough innovation

 Usually provide significant technological changes (breakthroughs) and create new knowledge.
 Revolutionary and nonlinear in nature, novel innovations typically use new technologies to serve
newly created markets. Ex. original personal computer.

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Google’s new self-driving car

is an example of a novel
innovation

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 Novel or
breakthrough
innovations are rare
because of the difficulty and risk involved in their development.
 The value of the technology and the market opportunities are highly uncertain
 Creativity is required

“Imagination is the fuel. You’re not going to get innovation, if you don’t have imagination.”
Jay Walker, founder of Priceline.com

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 Creativity alone does not directly lead to innovation.

 Strong, supportive leadership is required for the type of creativity and imagination needed to
develop novel innovations. The fact that creativity is “messy, chaotic, some times even
disgusting, and reeks of failure, experimentation, and disorganization” is one set of reasons why
leadership is so critical to its success

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Read muna

Internal corporate venturing

 is the set of activities firms use to develop internal inventions and especially innovations.

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Innovation can be Quirky

 Quirky is a unique new venture founded in 2009 that combines the opportunities provided by the
Internet of everything with the more physical world of business
 Quirky has built a social network of inventors and others, some of whom submit ideas for new
products, who are used to evaluate new product ideas (for marketability and manufacturing
feasibility.
 Quirky uses large 3-D printers to create prototypes. The firm also begins searching for a
manufacturer and simultaneously seeking a market for the products through retailers (such as
Home Depot, Target, Walmart, etc.).
 Quirky experienced problems: products failed to achieve a following in the marketplace; and other
products had quality problems.
 Quirky decided to focus its efforts to sign up more corporate partners in addition to GE.

2-3 slides?

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Autonomous strategic behavior

- is a bottom-up process in which product champions pursue new ideas, often through a political
process, by means of which they develop and coordinate the actions required to innovate and to
bring the innovation to the market.

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Product champion
- is an individual with an entrepreneurial mind-set who seeks to create support for developing an
innovation. Product champions play critical roles in moving innovations forward.

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Induced Strategic Behavior

- a top-down process whereby the firm’s current strategy and structure foster innovations that are
closely associated with that strategy and structure.