ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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establish an export program
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find a joint venture partner
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begin to think globally, taking on a global attitude toward a business
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hire motivated, multilingual managers
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Detailed explanation-1: -You need to narrow down the markets for the first phase of global growth by determining which markets are most viable for what you offer. Market entrance and size, cost efficiency, labor and resource supply, geographical constraints and legal regulation must also be considered.
Detailed explanation-2: -One of the first steps to global expansion is to create a clear value proposition. Before taking any steps to global expansion, you must conduct a critical analysis of your service in the desired market.
Detailed explanation-3: -The stages of going international are as follows: exporting, licensing, joint ventures, direct investment, US commercial centers, trade intermediaries, and alliances.
Detailed explanation-4: -It is a discipline involving any combination of modeling, automation, execution, control, measurement and optimization of business activity flows, in support of enterprise goals, spanning systems, employees, customers and partners within and beyond the enterprise boundaries.