Entrepreneurial Orientation and International Business

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Questions and Answers

What is the typical staff size range for a Small Global Firm (SGF)?

  • 1-3 people
  • More than 100 people
  • 3-50 people (correct)
  • 50-100 people

Which type of firm is most likely to focus on niche markets?

  • Subsidiaries of Multinational Firms (MNs)
  • Emerging Market Multinationals (EMMs)
  • Micro-multinationals (MMs) (correct)
  • Small Global Firms (SGFs)

What is a key distinguishing characteristic of International Social Entrepreneurship (ISE)?

  • Focusing solely on maximizing financial value
  • Explicitly prioritizing opportunities with positive social impacts (correct)
  • Avoiding international markets to focus on a domestic niche
  • Prioritizing rapid growth above all else

What is the term for entrepreneurial activities within large multinational firms?

<p>Corporate entrepreneurship (C)</p> Signup and view all the answers

What is a typical feature of Emerging Market Multinationals (EMMs) in terms of their growth?

<p>They pursue rapid global expansion early in their establishment. (A)</p> Signup and view all the answers

Which of the following best describes how subsidiaries of Multinational Firms (MNs) enter new international markets?

<p>Via foreign direct investment (FDI) (A)</p> Signup and view all the answers

What is a common characteristic of Emerging Market Multinationals (EMMs) in terms of ownership?

<p>They often have at least some level of state/government ownership. (C)</p> Signup and view all the answers

How many employees are typically in the staff of a micro-multinational?

<p>1-3 people (C)</p> Signup and view all the answers

What is the primary competitive advantage of a 'geographically focused start-up'?

<p>Specializing in serving the needs of a specific region using foreign resources. (B)</p> Signup and view all the answers

A 'global start-up' is best characterized by its:

<p>Proactive approach to both selling and sourcing in international markets. (C)</p> Signup and view all the answers

According to the provided chart, a firm that coordinates few activities across a small number of countries would be considered a(n):

<p>Import/Export start-up. (A)</p> Signup and view all the answers

What is a 'Born Global' firm defined by?

<p>Deriving a large proportion of their sales internationally from inception. (A)</p> Signup and view all the answers

According to the matrix, which type of start-up coordinates many activities across a few countries?

<p>Geographically focused start-up (C)</p> Signup and view all the answers

Which type of firm coordinates few activities across many countries?

<p>Multinational trader (A)</p> Signup and view all the answers

Which of the following best describes 'entrepreneurial orientation'?

<p>The degree to which individuals or firms exhibit innovativeness, risk taking, proactiveness, competitive aggressiveness, and autonomy in pursuit of entrepreneurial opportunities. (B)</p> Signup and view all the answers

Which of the following is a key difference between geographically focused start-ups and global start-ups?

<p>Geographically focused start-ups often focus on serving one specific region. (A)</p> Signup and view all the answers

What is a key characteristic of International New Ventures (INVs)?

<p>They seek a competitive edge from the sourcing of inputs and/or sale of outputs in multiple countries from their inception. (B)</p> Signup and view all the answers

Which of these statements best describes Born Globals?

<p>They immediately seek international markets and sales opportunities from a very early stage. (B)</p> Signup and view all the answers

Which of the following is NOT a cited sub-type of International New Ventures (INVs)?

<p>The global franchisor. (C)</p> Signup and view all the answers

How does an 'export/import start-up' typically approach international markets?

<p>By concentrating on a few international markets that the entrepreneur is familiar with. (B)</p> Signup and view all the answers

What is the primary focus of the 'multinational trader' type of International New Venture?

<p>Scanning an array of international markets for opportunities where networks exist or where they can be quickly established. (A)</p> Signup and view all the answers

According to the content, what is the main emphasis of courses structured around international entrepreneurship?

<p>Primarily on 'international new ventures' despite identifying numerous types of IOEs. (B)</p> Signup and view all the answers

Which of the following is NOT considered a key dimension of entrepreneurial orientation?

<p>Market Share Dominance. (A)</p> Signup and view all the answers

What is the relationship between an 'entrepreneurial process' and 'entrepreneurial orientation'?

<p>The entrepreneurial process guides actors, whereas the entrepreneurial orientation refers to the degree to which actors exhibit certain traits. (D)</p> Signup and view all the answers

What is a key differentiator of Born Global (BG) firms compared to International New Ventures (INV)?

<p>BGs derive a large part of their sales from abroad from the start, while INVs take time to develop international sales. (A)</p> Signup and view all the answers

What is the defining characteristic of a 'Born-again Global' (BAG) firm?

<p>A long-established domestic firm rapidly shifting towards international operations. (B)</p> Signup and view all the answers

According to the information given, the term 'Ethnic Entrepreneurship' (EE) specifically refers to:

<p>No specific area in the context provided. The content said the term 'Ethnic Entrepreneurship' does not specifically refer to international operations. (D)</p> Signup and view all the answers

If an established company has been operating solely within the domestic market and suddenly begins to operate internationally, what type of firm is it considered?

<p>Born-again Global (BAG). (C)</p> Signup and view all the answers

Which type of firm is characterized by deriving a substantial portion of their sales from international markets from the very beginning?

<p>Born Global (BG). (B)</p> Signup and view all the answers

What is TRUE about International New Ventures (INVs) compared to Born Global (BGs)?

<p>INVs may take a longer time than BGs to build up international sales. (C)</p> Signup and view all the answers

Which of the following is NOT explicitly mentioned in the text as a type of international firm?

<p>Large Global Firms (LGFs). (A)</p> Signup and view all the answers

How does the text differentiate between Born Global (BG) and International New Venture (INV) types of companies?

<p>BGs have international sales from the start, while INVs may take time to build them up. (A)</p> Signup and view all the answers

What is the primary focus of Morris and Kuratko's work on corporate entrepreneurship?

<p>Entrepreneurial behavior in established firms (D)</p> Signup and view all the answers

Which author is associated with the concept of 'Born Global' ventures?

<p>Rennie (C)</p> Signup and view all the answers

What perspective do Luo and Tung present regarding international expansion?

<p>Springboard perspective (C)</p> Signup and view all the answers

Which publication critiques and reflects on research related to Entrepreneurial Orientation (EO)?

<p>Entrepreneurship Theory and Practice (D)</p> Signup and view all the answers

In the context of international entrepreneurship, what does the term 'niche strategy' refer to?

<p>Focusing on narrow segments with tailored offerings (D)</p> Signup and view all the answers

What does the term 'micromultinationals' refer to in the context of new types of firms?

<p>Small to medium-sized firms operating internationally. (B)</p> Signup and view all the answers

Which of the following is NOT a source of governance control for firms?

<p>Investor feedback (B)</p> Signup and view all the answers

What is primarily studied under the field of transnational entrepreneurship?

<p>The behaviors of entrepreneurs across national boundaries. (D)</p> Signup and view all the answers

In the context of 'born-again global' firms, what does the term imply?

<p>Companies gradually expanding internationally. (C)</p> Signup and view all the answers

What significant aspect does entrepreneurial orientation measure in firms?

<p>Firms' willingness to innovate and take risks. (B)</p> Signup and view all the answers

Which of the following references contributes to the understanding of 'transnational entrepreneurship'?

<p>Dimitratos et al. (2010) (B)</p> Signup and view all the answers

Which element is categorized under external governance control?

<p>Government regulations (A)</p> Signup and view all the answers

What is one main benefit of companies adopting an international focus from their inception?

<p>Access to broader market opportunities. (A)</p> Signup and view all the answers

Flashcards

Entrepreneurial Orientation

A firm's tendency to be innovative, take risks, act proactively, be competitively aggressive, and have autonomy in pursuing entrepreneurial opportunities.

International New Venture (INV)

A specific type of entrepreneurial organization that aims to gain a competitive advantage by sourcing inputs and/or selling outputs in multiple countries right from the outset.

Export/Import Start-up

A type of INV that focuses its business on a few familiar international markets, often starting with exporting or importing.

Multinational Trader

A type of INV that focuses on a broad range of international markets, leveraging existing networks or quickly establishing new ones.

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Entrepreneurial Process

The process through which entrepreneurial actors identify and exploit opportunities.

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Entrepreneurial Orientation Level

The degree to which individuals or firms engage in entrepreneurial orientation.

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International Adaptability

The ability to adapt and thrive in a constantly changing environment with a focus on international markets.

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International Entrepreneurial Organizations (IOEs)

Companies actively involved in international business operations with a focus on entrepreneurial behavior.

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Established Company

A company that is established and has been in business for a while.

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New Company

A company that is new and has just started operating.

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Governance

An approach that involves understanding and managing how different levels of an organization are governed and controlled.

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Corporate Parent

A company that is primarily responsible for making strategic decisions and setting overall direction.

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Independent Company

An independent company that is not controlled by another organization.

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Integrated Subsidiary

A subsidiary that is fully integrated into the corporate parent's operations.

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Autonomous Subsidiary

A subsidiary that has a level of autonomy and control over its own operations.

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Government-Controlled Subsidiary

A subsidiary that is managed by a government entity.

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Born Globals (BGs)

International businesses that primarily focus on global sales from their inception.

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Born-Again Globals (BAGs)

Businesses that adapt their existing domestic operations to include a global focus.

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Ethnic Entrepreneurship (EE)

Entrepreneurial ventures operating in international markets.

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Transnational Entrepreneurship (TE)

Entrepreneurship that crosses national borders and involves international ventures.

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Small Global Firms (SGFs)

Small firms that operate internationally, often leveraging technology and innovation.

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Micro-multinationals (MMs)

Very small businesses with a global focus, often utilizing digital platforms and remote work.

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International Social Entrepreneurship (ISE)

Entrepreneurial ventures that address social or environmental challenges on a global scale.

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Subsidiaries of Multinational Firms (MNs)

Branches of large multinational corporations established in new markets through foreign direct investment.

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International Corporate Entrepreneurship

International corporate venturing within large multinational firms, focusing on developing new opportunities and ventures in global markets.

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Emerging Market Multinationals (EMMs)

Companies originating from emerging markets that rapidly pursue global expansion across multiple markets.

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International Entrepreneurship

The process of starting and running new ventures in global markets, involving activities like identifying opportunities, developing new products or services, and expanding into new international markets.

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Entrepreneurial Orientation in Global Market

The tendency of firms to develop and pursue new opportunities in the global market, often involving innovation, risk-taking, and venturing beyond traditional boundaries.

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Geographically Focused Start-up (INV Sub-type 3)

A type of international new venture (INV) that bases its competitive edge on serving a specific geographic region using foreign resources.

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Global Start-up (INV Sub-type 4)

An INV sub-type that gains its competitive edge by coordinating operations across various international markets, actively seeking both sales and sourcing opportunities globally.

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Coordination of Value Chain Activities Across Countries

The extent to which a company coordinates its value chain activities across different countries, from sourcing materials to selling products.

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Import/Export Start-up

An INV that focuses on exporting and importing goods, with limited international coordination beyond logistics.

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Born Global Firms (BGs)

International new ventures (INVs) that derive a significant portion of their sales from international markets from the very beginning.

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Born Globals

The term used to describe companies like BGs (Born Global Firms) that are international from the start.

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Born Global Firms (BGs)

Companies that proactively seek international opportunities from their inception, focusing on global markets.

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Study Notes

Entrepreneurial Orientation and International Entrepreneurship

  • Entrepreneurial orientation is the extent to which individuals or firms exhibit innovativeness, risk-taking, proactiveness, competitive aggressiveness, and autonomy in pursuing entrepreneurial opportunities.

Types of International Entrepreneurial Organizations (IOEs)

  • International New Ventures (INVs): Companies aiming for competitive advantage from sourcing inputs and/or selling outputs in multiple countries.
    • Export/Import Start-up: Focuses on one or two international markets.
    • Multinational Trader: Exploits existing networks to explore multiple international markets.
    • Geographically Focused Start-up: Specializes in serving specific regional needs using foreign resources.
    • Global Start-up: Coordinates activities across multiple international markets for competitive advantage.

Born Global Firms (BGs)

  • Firms that derive a significant portion of sales internationally from their inception. There's overlap with INVs, but the key difference is focusing specifically on international sales.

Born-Again Global Firms (BAGs)

  • Established firms that transition to significant international operations after a period of focusing on domestic markets.

Ethnic Entrepreneurship (EE)

  • Entrepreneurs who have migrated internationally and start businesses in their new home countries. Focus is often on domestic ventures based on earlier successes within their ethnic communities.

Transnational Entrepreneurship (TE)

  • Individuals who use relationships from their original country and their new country of residence to pursue entrepreneurial opportunities. This involves activities across international borders.

Small Global Firms (SGFs)

  • Small-sized firms capable of selling products in various international markets.

Micro-multinationals (MMs)

  • Very small firms pursuing global entrepreneurial opportunities through various international entry strategies, focused on niche markets.

International Social Entrepreneurship (ISE)

  • Entrepreneurs aiming for positive social impact alongside financial success, prioritizing social projects.

Subsidiaries of Multinational Firms (MNs)

  • Branches of large multinational corporations operating international markets through foreign direct investment.

Emerging Market Multinationals (EMMs)

  • Companies from emerging markets pursuing rapid global growth across many markets and often having some level of state/government ownership.

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