MANG3104: Introduction to International Entrepreneurship

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Questions and Answers

What is one of the main aims of the module on International Entrepreneurship?

To focus solely on individual entrepreneurial success.

To understand how entrepreneurs create and manage emerging ventures in other countries. (correct)

To develop a marketing strategy for domestic ventures.

To limit the study to local economic factors.

Which of the following is NOT included in the module learning outcomes?

Developing exclusive local business strategies. (correct)

Examining relational aspects with stakeholders.

Understanding environmental factors influencing international entrepreneurship.

Analyzing entrepreneurial processes in various cultural settings.

What is one key factor highlighted in developing international strategies?

Eliminating the role of stakeholder relationships.

Focusing only on national market dynamics.

Identifying sources of financing in international entrepreneurship. (correct)

Ignoring cultural differences in foreign markets.

Which skill is NOT considered an intellectual skill in the module?

Implementing a corporate social responsibility program. Signup and view all the answers

What aspect of international entrepreneurship involves managing relationships with key stakeholders?

Relational aspects of entrepreneurship. Signup and view all the answers

Which of the following statements about the course reference materials is FALSE?

The course only assesses practical assignments, excluding theoretical knowledge. Signup and view all the answers

What is one implication of corporate social responsibility on international ventures?

It shapes strategy, policy, and practices of global organizations. Signup and view all the answers

Which of the following best describes the focus of the module?

The examination of entrepreneurship in diverse international contexts. Signup and view all the answers

What percentage of the total mark does the group presentation account for?

20% Signup and view all the answers

Which of the following topics is related to international market entry strategies?

International Expansion Strategies Signup and view all the answers

When is the deadline for submitting presentation slides in Turnitin?

December 2, 2024 Signup and view all the answers

What is the length of the group presentation?

20 minutes Signup and view all the answers

Which component is essential for the first slide of the group presentation?

Group Number and Student IDs Signup and view all the answers

How long is the Q&A session following the presentation?

10 minutes Signup and view all the answers

Which topic focuses on developing an international business plan?

International Market Entry Signup and view all the answers

What is the main purpose of the groupwork in the context of international entrepreneurship?

To foster collaboration among students Signup and view all the answers

What is the primary focus of entrepreneurship as defined in the provided content?

Examination of how opportunities are discovered, evaluated, and exploited Signup and view all the answers

Which of the following is NOT listed as a way to identify opportunities?

Exploring investor interests Signup and view all the answers

What aspect of opportunities does Barringer and Ireland define as essential qualities?

Potential for market growth Signup and view all the answers

According to the code of conduct, what should a student do if they anticipate being absent?

Email the lecturer in advance Signup and view all the answers

Which of the following trends is associated with identifying opportunities?

Political and regulatory changes Signup and view all the answers

What is expected of students regarding group work preparation?

To conduct weekly meetings for at least 1 hour Signup and view all the answers

What types of trends should students observe to identify economic opportunities?

Rising personal income and spending habits Signup and view all the answers

What is the expected timeline for receiving feedback on written coursework?

Four working weeks after submission Signup and view all the answers

What is a critical aspect to consider when evaluating corporate social responsibility in international ventures?

Impact on local communities Signup and view all the answers

Which skill is essential for ensuring the successful completion of group workload in international ventures?

Time management Signup and view all the answers

What role do stakeholders play in the context of new venture development in international settings?

They can impact strategic direction and operational effectiveness. Signup and view all the answers

In which areas should transferable skills be effectively applied when entering international markets?

Planning and communication Signup and view all the answers

What is the primary focus of social entrepreneurship within international development?

Addressing social issues through innovative solutions Signup and view all the answers

Which of the following is a vital aspect of effective team-work in international entrepreneurship?

Clear communication and role assignment Signup and view all the answers

Which of the following best describes the implications of the corporate social responsibility paradigm on global organizations?

CSR affects stakeholder relationships and brand reputation. Signup and view all the answers

What constitutes an effective approach to gather bibliographic skills for international entrepreneurship?

Utilizing varied information sources including journals and texts Signup and view all the answers

What problem does the Winnie company aim to solve?

Locating toddler-friendly retail locations Signup and view all the answers

Which of the following is NOT a characteristic of an international entrepreneur?

Resistance to globalization Signup and view all the answers

Which technology-related motivation drives internationalization?

Economies of scale Signup and view all the answers

What is the role of creativity in the model of international opportunities?

It enhances an entrepreneur's vision Signup and view all the answers

Which of the following is a constraint to international entrepreneurship?

Cultural and language barriers Signup and view all the answers

What common gap in the marketplace does Anytime Fitness address?

Fitness centers open 24 hours Signup and view all the answers

According to the characteristics of international entrepreneurs, what is a key motivator for their desire to establish businesses overseas?

Ability to absorb uncertainty Signup and view all the answers

What is one potential motivation for technology-related internationalizing?

Raising quality levels Signup and view all the answers

What characterizes a 'born global' firm in terms of market focus?

Engages in foreign markets from inception Signup and view all the answers

Which statement accurately describes a traditional internationalising firm compared to a born global firm?

Emphasizes markets similar to its domestic market Signup and view all the answers

Which of the following advantages is more associated with born global firms?

Higher customer orientation Signup and view all the answers

What is a common disadvantage of born global firms?

They often face limited resources Signup and view all the answers

According to internationalisation theory, which mode demonstrates increasing market commitment?

Foreign sales subsidiary Signup and view all the answers

Which of the following behaviors is associated with the internationalisation of established companies?

Innovative and proactive behavior Signup and view all the answers

What is a significant factor that distinguishes born global firms from traditional firms?

They enter at least two foreign markets simultaneously Signup and view all the answers

In the context of geographical diversification, what does internationalisation entail?

Engaging in various forms of export modes across multiple markets Signup and view all the answers

Study Notes

Course Information

Course code: MANG3104
Course title: International Entrepreneurship
Lecture: 1
Lecturer: Dr. Hang Do
Email: [email protected]

Agenda

Part 1: Introduction to the module, lecturers, tools/materials, and class activities
Part 2: Introduction to key concepts in International Entrepreneurship

Aims and Objectives

Understand how entrepreneurs create and manage emerging ventures in other countries
Examine global and international environments for international expansion
Understand key factors in developing international strategies and an international business model
Understand how to manage relationships with stakeholders in international markets

Key Reference Point

Module handbook is the primary resource
- Learning outcomes
- Course content and schedule
- Reading list for each week
- Assessment information

Module Learning Outcomes (i)

Knowledge and understanding of environmental factors (global and national) influencing international entrepreneurship
Entrepreneurial process in different countries and cultures; managing a global entrepreneurial venture and international expansion, relevant funding sources.
Relational aspects of international entrepreneurship, managing relationships with key stakeholders.
Paradigm of corporate social responsibility, its implications for global organizations in new business venturing.

Module Learning Outcomes (ii)

Diagnose and analyze global/national environments (economy, society, policy) for various entrepreneurial types.
Examine entrepreneurship process and enterprises in different forms (high-tech, social, etc.)
Identify key stakeholders impacting ventures in international settings.
Evaluate the corporate social responsibility paradigm and its implications on new venture development in global organizations.

Module Learning Outcomes (iii)

Employability/Transferable skills
- Use a wide range of information sources utilizing bibliographic skills to develop those skills
- Plan and control effectively for successful completion of personal and group workloads
- Communicate effectively, both orally and in writing, justifying arguments in reports, presentations, and debates
- Carry out team work effectively

Key Reading Materials

Essential: Hisrich, R. D. (2016) International Entrepreneurship: Starting, Developing and Managing a Global Venture, 3rd Edition, Sage Publications, Thousand Oaks, CA and London
Essential: Hisrich, R.D; Peters, M.P and Shepherp, D.A (2020) Entrepreneurship, 11th edition, McGraw Hill Education, New York, ISBN 978-1-260-56562-1
Additional journal articles set weekly, available on Blackboard

Teaching Arrangements

Dr. Hang Do (module leader): International entrepreneurship, innovation management, strategic management, firm performance.
Dr. Augustine Peprah: Business model innovation, non-market strategy, institutional voids in emerging markets

Module Structure

Details of individual and group assignments (e.g., 1. assignments, 2. Walmart, 3. groupwork assignment, 4. Frog Bikes, 5. Groupwork mentoring, 6-12 specific lectures and related material)

Assessment Details

Group presentation (20% of total mark): 20-minute presentation, 10-minute Q&A. Presentation slides in Turnitin by December 2nd, 4pm 2024.
First slide: Group number, student IDs of all contributing group members, venture name.

Group Presentation:

Form groups of 4/5 students (by October 10th; random allocation otherwise).
Business plan pitch for entering a foreign market.
Assignment guidance available on/via Blackboard.
Peer-moderated marking system.

Group Project Mark:

Group mark of 70: individual marks calculated from self-evaluation reports (detailed contribution).
Each student receives a mark based on their contribution percentage (from self-evaluation).
Self-evaluation report included in presentation slides, stating tasks. Individual’s contribution, individual student ID stated on all slides.

Example Group Member Contribution

Sample student ID and task assigned (competitor analysis and marketing at 25%).

Individual Written Assignment

80% of overall assessment.
2000-word essay on internationalization process in SME, evaluating problems and solutions.
Topic: “Analyse the internationalisation process of an international venture (SME) and critically evaluate their specific problems and solutions in/after entering a particular foreign market”.

Key Deadlines

10/10/2024: Formulate group of 4-5 students (3 groups of 4, 1 of 5)
30/11/2024: Inform instructor of selected company for written individual assignments.
02/12/2024: Group presentation slides due in Turnitin by 4pm.
06/01/2025: Written individual assignment due in Turnitin by 4pm.

Feedback

Verbal: Weekly interactive sessions in lectures and seminars.
Written: Feedback on coursework within four weeks.

Code of Conduct

No private talk during lectures (except for work discussion).
Be proactive in lectures, don't be shy, and ask questions immediately if necessary.
Let the instructor know about absence in advance.
Weekly group meetings (minimum 1 hour) to prepare for group work.
No food permitted during lectures/seminars.

2. From entrepreneurship to international entrepreneurship

Discussion of entrepreneurship as opportunity recognition, discovery, evaluation and exploitation of opportunities to create goods and services.

Essential qualities of an opportunity

Attractive
Durable
Timely
Anchored in a product, service, or business

Ways to identify opportunities

Observing industry trends, (economic, social, technological advances, political, regulatory changes)
Solving problems (observing a challenge or gaps in the market).

Observing Trends

Economic forces (state of economy, income, consumer spending)
Social forces (trends, demographic change, what’s “in”)
Technological advancements (new technologies, emerging technologies, uses of old tech)
Political/regulatory changes (changes in political area, new laws/regulations)

Examples of Trends/Opportunities

Economic: organic food supermarket chains
Social: weight-loss apps
Technological: smart watches, air pods, etc
Political: Covid-19 related changes

Solve a problem

Problem examples: finding retail locations, finding parking spaces
Solution examples: Online platforms like Yelp
Additional examples: Absence of toys emphasizing intellectual development (e.g., Wonder Workshop, etc)
Additional example: Lack of fitness centers open 24 hours a day (e.g., 24hr Fitness)

Gap in the marketplace

Examples of gaps and corresponding solutions
Fitness centers, toy stores focusing on cognitive development, etc.

What is International entrepreneurship?

A matter of debate and evolution since 1988.
The process of an entrepreneur conducting business activities across national borders (Hisrich, 2016)

International entrepreneur characteristics

Embraces change, desire to achieve, ability to establish a clear vision, high tolerance for ambiguity, integrity, a focus on well-being (Hisrich 2006)

A model of international opportunities (Butler et al. 2010)

Focus on entrepreneur’s creativity, particular cognitive structures, and ability to absorb uncertainty.

Motivations for internationalising

Technology-related, including ICT, life cycle of the product, economies of scale
Other motivations: unique market opportunity, to raise quality levels, to enhance reputation

Constraints for internationalisation

Lack of resources, information, networks, cultural barriers, technological/ legal environments in different markets, local competition, subsidies offered to local firms by foreign governments, local foreign competition.

Internationalisation Model

Stages model (Forsgren and Johanson 1975): showing increasing commitment and increasing internationalisation alongside geographic diversification.

Internationalisation Stages in Different Countries

Graph showing how a company's international sales increase over time. Stages include pre-start, start, growth, maturity/consolidation.

Born Global Aspects

Definition, development of ventures with international activities from inception (McDougal, 1989)
Companies with combined innovative, proactive, and risk-taking approaches crossing national borders to generate value (McDougall and Oviatt, 2000).

Stage model or Born Global ?

Comparison between born global firms and traditional firms based on size, age, market focus, no. of markets, advantages and disadvantages.

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Description

This quiz covers the key concepts and introductory materials of the MANG3104 International Entrepreneurship course. Students will explore global environments, key factors for international strategies, and stakeholder relationships critical for emerging ventures in other countries. Prepare to align with the course objectives and learning outcomes as discussed in the first lecture.