Contemporary Entrepreneurship Issues In International Business

Entrepreneurs and entrepreneurial activities are crucial for driving global economic growth and responding to changing social and environmental conditions. This dedicated volume discusses contemporary and emerging issues of entrepreneurship in International Business, making it an essential read for entrepreneurs and researchers.

\n Format: Hardback
\n Length: 304 pages
\n Publication date: 09 May 2021
\n Publisher: World Scientific Publishing Co Pte Ltd
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The role of entrepreneurs and entrepreneurial activities has garnered significant attention in driving global economic growth and responding to the changing social and environmental conditions that impact societies worldwide. The identification and exploitation of international opportunities constitute an act of entrepreneurship by disrupting and creating markets in foreign countries. Historically, international entrepreneurship literature has primarily focused on the rapid and early internationalization of new ventures and start-ups. However, an increasing number of multinational enterprises (MNEs) are fostering and developing corporate intrapreneurship, where managers encourage innovation in products and processes. Moreover, we have witnessed entrepreneurs and their start-ups actively addressing social, cultural, and environmental challenges in foreign markets. This dedicated volume explores these contemporary and emerging issues of entrepreneurship in International Business, making it an essential read for entrepreneurs and researchers alike.

The entrepreneurial spirit has always been a driving force behind economic development and social change. From the earliest days of commerce, entrepreneurs have been the ones to identify new opportunities, take risks, and create innovative solutions to meet the needs of society. Today, the world is facing a multitude of complex challenges, from climate change to economic inequality, that require innovative thinking and entrepreneurial action.

One of the key ways in which entrepreneurs are driving global economic growth is by creating new businesses and jobs. According to the World Bank, entrepreneurship is responsible for creating 68% of new jobs in the world's developing economies. This means that entrepreneurs are not only creating wealth for themselves and their employees, but they are also contributing to the growth of entire economies.

In addition to creating new businesses, entrepreneurs are also driving innovation and technological advancements. They are the ones who take risks and invest in new ideas, often leading to the development of new products and services that have the potential to transform industries and improve people's lives. For example, entrepreneurs in the technology sector have been responsible for the development of smartphones, social media, and cloud computing, which have revolutionized the way we communicate, work, and consume information.

Another way in which entrepreneurs are driving global economic growth is by promoting international trade and investment. They are the ones who identify new markets and opportunities for business, and they are often the first to enter these markets, bringing with them their expertise, knowledge, and resources. This can lead to the growth of new industries and the creation of new jobs, both in the host country and in the countries that export goods and services.

However, entrepreneurship is not without its challenges. One of the biggest challenges facing entrepreneurs is access to capital and resources. Many entrepreneurs face barriers to financing their businesses, such as limited access to credit, high interest rates, and a lack of government support. This can make it difficult for entrepreneurs to grow their businesses and create new jobs.

Another challenge facing entrepreneurs is the need to navigate complex regulatory environments. Different countries have different laws, regulations, and customs that can make it difficult for entrepreneurs to operate in these markets. This can lead to delays, costs, and other barriers to entry, which can discourage entrepreneurs from pursuing new opportunities.

Despite these challenges, entrepreneurship is still a vital force in driving global economic growth and social change. Governments, businesses, and individuals all have a role to play in supporting and promoting entrepreneurship. Governments can provide incentives such as tax breaks, grants, and subsidies to entrepreneurs who are creating new businesses and jobs. Businesses can also support entrepreneurship by investing in new ideas and technologies and by providing opportunities for employees to develop their entrepreneurial skills. Individuals can support entrepreneurship by investing in start-ups, providing mentorship and advice, and by supporting local businesses and entrepreneurs.

In conclusion, entrepreneurship is a powerful force that is driving global economic growth and social change. From creating new businesses and jobs to promoting innovation and technological advancements, entrepreneurs are the ones who are shaping the future of our world. However, entrepreneurship is not without its challenges, and it is important for governments, businesses, and individuals to work together to support and promote entrepreneurship. By doing so, we can create a more prosperous and sustainable future for all.

\n Weight: 580g\n
Dimension: 159 x 236 x 26 (mm)\n
ISBN-13: 9789811228438\n \n