S Global Entre & Intra Flashcards
7Ms
- Mindset
- Market
- Money
- Manpower
- Machinery
- Method
- Materials
An entrepreneurial attitude, including innovation, risk-taking, and resillience
Mindset
understanding customer needs, competitors, and demand for products/services
Market
Financial resources, investment, budgeting, and cash flow management
Money
The team, employees, and human resources neede to run the business
Manpower
Technology and tools used for production, operations, or service delivery
Machinery
Business strtegies, processes, and system that ensure efficiency and growth
Method
Raw materials, supplies, and equipment necessary for production
Materials
5 Steps of Entrepreneurial Process
- Idea Generation
- Feasibility Study & Planning
- Resources Gathering
- Launching & Managing
- Growth & Expansion
Global Start ups and global firms
aka global start ups, are businesses that internationalize their operations shortly after inceptions. These firms leverage digital tenchnologies and global IT infrastructure to access international markets, aiming to gain competitive advantage through resources and sale in multiple countries.
Born-global Firms
Key Characters of BGF
- Early Internationalization
- Innovative offerings
- Dynamic Capabilities
Born-global firms operate across borers from the outset, leveraging digital platforms and global networks to acess international markets
Early Internationalization
Their offerings are typically innovative, complementing existing global products or addressing niche need that are consisten worldwide.
Innvoative Offerings
Born-global firms possess strong entrepreneurial and digital capabilites, enabling them to quickly to changing market conditions.
Dynamic Capabilities
Two Phases of Global Start Up Assessment
- Decising if a firm should become a global start up
- Deciding what the firm need to do to make that happen
Is the process of applying entrepreneurial thinking and behavior within an existing organization. it involves identifying opportunities for innovation, developing new products or services, and implementing change to improve the company’s performance.
Intrapreneurship
Benefits of Intrapreneurship
- Increased Innovation
- Enhanced Employee Engagement
- Competitive Advantage
Intrapreneurship Vs. Entrpreneurship
while entrepreneurs start their own businesses, intrapreneurs focus on creating new ventures within existing companies. They leverage the resources and support of their organization, allowing them to take risks and innovate without the same financial burdens as entrepreneurs
is a way of thinking and acting within a comaany that encourages employess to be innovative and entrepreneurial. about fostering a vulture where employees are empowered to compe up with new ideas, take risk, and develop solutions that benefit the company.
Intrapreneurial Approach
Key elements of an intrapreneurial approach include:
- empowering eomployees
- Encouraging creativity
- Providing resources
- Rewarding Innovation
