INTL1100 Chapter 9 Growing & Internationalizing the Entrepreneurial Firm P ower P oin T (PPT) slide numbers Link PPT 1 - 4 Video Small and medium sized businesses 1:15 Video How important are small businesses 2:09 PPT 5 - 6 Entrepreneurship Video Who is an Entrepreneur 13:01 Video International Entrepreneurship 4:22 Entrepreneurs start businesses. They are a special breed of people who take risks to attempt to make profits. They have the following characteristics: 1. Self-motivated 2. Know their product or service and understand how it fits into their market niche 3. Willing to take risks 4. Know how to network 5. Have basic money management skills 6. Flexible to make changes as needed 7. Passionate International entrepreneurs have the same characteristics as above but in addition they cross international borders. They likely have had success in the domestic market and see opportunities to create additional wealth. PPT 7 - 8 Institutions, Resources and Entrepreneurship Whether entrepreneurship is encouraged (as in Canada and the USA) or subdued (as in communist countries) depends largely on the formal institutions that govern the country. The more entrepreneur- friendly the formal institutional requirements are, the more flourishing entrepreneurship is, and the more developed the economies become and vice versa. Informal institutions such as cultural values and norms also affect entrepreneurship. PPT 9 - 10 This website is compiled and maintained by the World Bank and ranks countries on a variety of topics that are very relevant to any firm thinking about doing business in a specific country. This is one resource that I used continuously as part of my research when we were preparing to do business in any country. It
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