Peng Inst Chapter 9 REVISED (2nd Edition)

Peng Inst Chapter 9 REVISED (2nd Edition) - Peng...

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Peng  Global Business 2e Chapter 9 Growing and Internationalizing the  Entrepreneurial Firm
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LEARNING OBJECTIVES After studying this chapter, you should be able to: 1. Define entrepreneurship, entrepreneurs, and entrepreneurial firms. 2. Identify the institutions and resources that affect  entrepreneurship. 3. Identify three characteristics of a growing entrepreneurial firm. 4. Describe how international strategies for entering foreign markets are different from those for staying in domestic markets. 5. Participate in two leading debates on growing and internationalizing the entrepreneurial firm. 6. Articulate what you should do to encourage entrepreneurship on an international level. 7. Draw implications for action. 2
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ENTREPRENEURSHIP AND ENTREPRENEURIAL FIRMS Small and medium-sized enterprises  (SMEs)  - generally  defined in the US as firms with fewer than 500 employees. Entrepreneurship  –  identification and exploitation of previously  unexplored opportunities. Entrepreneurs -   founders and owners of new businesses or  managers of existing firms. International entrepreneurship  -  combination of innovative,  proactive, and risk-seeking behavior that crosses national borders and  is intended to create wealth in organizations. 3
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  Although entrepreneurship is thriving  around  the  globe in general, its development is unequal.   In general, governments in developed   economies impose fewer procedures and  lower  costs.     In poor countries, entrepreneurs face higher  costs and more procedures (Focus 9.1  Getting  Electricity). 5
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This note was uploaded on 03/16/2011 for the course MGMT 418 taught by Professor Byles during the Spring '11 term at VCU.

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Peng Inst Chapter 9 REVISED (2nd Edition) - Peng...

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