BZUPAGES COM Entrepreneurship Robert D Hisrich Micheal P

BZUPAGES. COM

Entrepreneurship – Robert D Hisrich, – Micheal P. Peters – Dean a Shepherd Edition BZUPAGES. COM • Author: th 8

CHAPTER 5 BZUPAGES. COM Identification And Analyzing Domestic And International Opportunities

Group Member’s Usman Akhtar Roll No 07 -17 Danish Hussain Roll No 07 -09 M. Taha Khan Roll No 07 -06 Imran Khan Roll No 07 -37 BZUPAGES. COM • •

• Opportunity assessment plan is not a business plan: 1. Be shorter 2. Focus on the opportunity, not the venture 3. Have no computer-based spreadsheet 4. Act or wait on an opportunity BZUPAGES. COM Opportunity Recognition And The Opportunity Assessment Plan

Opportunity Recognition And The Opportunity Assessment Plan BZUPAGES. COM Opportunity assessment plan contain four section: Two major and Two minor sections. MAJOR SECTIONS: 1. first major section: Develops the product/service idea, analyze the competitive products and companies

Opportunity Recognition And The Opportunity Assessment Plan 1. Second major section: Focus on the market its size, trends, characteristics, and growth rate BZUPAGES. COM MAJOR SECTIONS:

Opportunity Recognition And The Opportunity Assessment Plan • Third Minor section: focus on the entrepreneur and the management team in terms of skills and experience. • FINAL SECTION: Timeline, successfully launch the venture and translate the idea in to a viable business entity. BZUPAGES. COM • MINOR SECTIONS:

Information Sources BZUPAGES. COM • Helps in starting the new business. 1. General Information: • Help taken from the online websites e. g. www. score. org (non profit organization). 2. Industry And Market Information: • There are the wide variety of database that provide you the significant information about the industry and the market e. g. plunkett (trends) , frost and sullivan (specific info)

Information Sources BZUPAGES. COM 3. Competitive company and product information: • supply significant information on product and services: • Example: business source complete (industry information). 4. Government sources And Search Engine: • Census reports & export/import authority • Search engine provide industry, market and competitive information 5. Trade Association and Trade publishing: • Trade association do market surveys. • Trade publishing's provide insight on trends e. g. growth rate

International versus Domestic Entrepreneurship BZUPAGES. COM • International Entrepreneur: An entrepreneur doing business across his or her national boundary. It is more complex due to uncontrollable factors: 1. Economics: • In domestic: Single economic system, same currency • In international: Dealing in differences in level of economic development, Govt. regulation. 2. Stages of economic development: • Rational and regional variance. 3. Current Account: • The trade status of import/export between countries.

International versus Domestic Entrepreneurship BZUPAGES. COM 4. Type of economic system: • Distribution rights • Barter (directly exchange) or Third-party arrangements (indirectly). 5. Political-legal environment: • Price fluctuation - VAT (value added tax) • Political risk analysis (prior to entering into business) • critical areas (property right, contract law, product safety & liability 6. Language: • Native tongue

07 -09 BZUPAGES. COM Danish Hussain

Technological Environment BZUPAGES. COM • Technology Varies Across Countries • New Products are created based on conditions and infrastructure operating in the country

Culture – Social Culture – Language – Religion – Manners and Customs BZUPAGES. COM • Culture refers to common ways of thinking and behaving • Culture Includes

Culture in Entrepreneur’s Context BZUPAGES. COM • Crossing Cultures are the Problems for entrepreneurs • Entrepreneur must have command over country’s language • Both Verbal and Nonverbal languages are important

Culture Norms and Values Social Culture Religion Political Philosophy Economics and Economic Philosophy Education Manners and Customs BZUPAGES. COM • • •

Religin Social Culture Norms & Value System Manners & Customs Education BZUPAGES. COM Language Economics & Economic Philosophy

Social Culture BZUPAGES. COM • Refers to social institutions in a culture • Social Stratification affect the behavior of the people in one particular strata • Reference Groups provide influencing values and attitudes

Religion BZUPAGES. COM • Ideas for life reflected in values and attitudes of society • Impact on entrepreneurship varies • Impact depends on dominant religious tenets on attitudes and values

Manners and Custom • Gifts can be important part of developing relationship in a culture BZUPAGES. COM • Particularly important for entrepreneurs in negotiations

BZUPAGES. COM Muhammad Taha Khan 07 -06

Motivations To Go Global Profits Competitive Pressures Unique Products or Services Excess Production Capacity Declining Home Country Sales Technological Benefits Tax Benefits BZUPAGES. COM • •

Strategic Effects of going Global BZUPAGES. COM • New set of wide ranging problems • New set of domestic and international regulations • Physical and Psychological closeness does matter

Foreign Market Selection BZUPAGES. COM • Market selection and market entry strategies are critical issues • Decision should base on past sales and competitive positioning • Appropriate market-selection model should be followed

Entrepreneurial Entry Strategies BZUPAGES. COM • Exporting • Nonequity Arrangements • Direct Foreign Investment

Exporting BZUPAGES. COM • Direct Exporting • Indirect Exporting

Nonequity Arrangements BZUPAGES. COM • Licencing • Turn-Key Projects • Management Contracts

BZUPAGES. COM Muhammad Imran Khan 07 -37

Direct Foreign Investment Minority Interests Joint Ventures Majority Interest Mergers BZUPAGES. COM • •

Entrepreneurial Partnering BZUPAGES. COM • Amongst best methods for entering International Market • Foreign entrepreneurs know country and culture • Finding good partner can be beneficial for the entrepreneur

Entrepreneurial Partnering – Information needed on industry and potential partners – Appropriate trade shows should be attended – Should Check References for the partner – Meet with the potential partner several times before commitment BZUPAGES. COM • How to find Good Partner?

Barriers to International Trade General Agreement on Tariffs and Trade Increasing Protectionist attitudes Trade Blocs and Free Trade Areas Entrepreneur’s Strategy and Trade Barriers BZUPAGES. COM • •

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