Wk10: Internationalization Entrepreneurship and SME

Question 1

Discuss “Outliers” in International business.

Answer 1

A business organisation that from inception (or close to) seeks to derive a significant advantage from the use of resources and the sales of outputs in multiple countries. . Born global firms and the managers of those firms entrepreneurial mindset seems to discount the risk of going abroad. These firms tend to be very effective in building global networks of collaborators. Australian born global firms have increased significantly since the 1980s.
Furthermore, a private company with a valuation of 1B is known as Global unicorns.. The drivers behind these outliers of “born global” include the size of the home market, tech developments, ease in doing cross boarder business and leadership.

Question 2

Importance of these outliers/born globals/unicorns.

Answer 2

Can be seen through the Australian Tech Startup sector potentially providing 4% of Australian GDP by 2033.

Question 3

What are the basic strategies for entrepreneurial firms

Answer 3

1. Growth (find a niche and establish the first mover)
2. Innovation (new/exisitng)
3. Networking (overcome the liability of newness)
4. Financing and governance (sources
5. Harvest and exit which may include and IPO, selling the firm, bankruptcy.