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Global Entrepreneurship

Author(s): Dianne Welsh, Shawn Carraher

Edition: 4

Copyright: 2021

Pages: 492

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Help Your Students Succeed as Global Entrepreneurs!

Global Entrepreneurship focuses on what you need to know about global entrepreneurship. It explains the principles that come from entrepreneurship, international business, cross-cultural management, strategy, exporting, international education, international economics and environmental concerns, and leadership.

Global Entrepreneurship:

  • focuses more on practical applications than on statistical surveys and empirical research.
  • includes content based, in part, upon a detailed study undertaken by the International Entrepreneurship Division of the U.S. Association for Small Business & Entrepreneurship as to what educators in the areas of international and global entrepreneurship believed should be included in such a course.
  • integrates examples of specific area studies that the reader may use as an example in a part of the world they would like to develop a particular product or service to export or import.
  • features updated content throughout that is organized into four sections: introductory chapters which are designed to provide the reader with a broad overview of the topic; a second section that features specialized and focused topics on specific aspects of international and global entrepreneurship; a third section that includes area studies chapters, and concludes with a case study as the final section.
  • is easy to adopt! An instructor’s resource package, including PowerPoint Presentations and instructor’s manual, is provided to all adopters.
  • works seamlessly with Cases in Global Entrepreneurship, a great accompanying resource with real cases.

Preface
Introduction
About the Authors
About the Contributors

Part One Introduction
Chapter 1 Global Entrepreneurship and Global Business
, George M. Puia
Key Terms
Learning Objectives
Introduction
Defining International Entrepreneurship
Differentiating International Entrepreneurship from International Business
Why Study International Entrepreneurship?
Explosion of Growth in the Field
Liberalization of World Markets Creates New Opportunities
The Rise of Small-firm Supply-chain Networks
The Cross-border Movement of Intellectual Property
Two Streams of Research
Internationalization: Moving Ventures Across Borders
Discovery of International Opportunities
Internationalization Models
Born Global Firms
The Internet-based Entry Strategies
How Entrepreneurship Differs Across Countries
The Global Entrepreneurship Monitor Studies
Analyzing the Environmental Context
Culture and Entrepreneurship
Defining Culture
Culture’s Influence on Management Practices
Summary
Discussion Questions
References

Chapter 2 Some Key Determinants of Entrepreneurship, Nir Kshetri
Key Terms
Learning Objectives
Abstract
Introduction
Economic Factors
Physical and Financial Infrastructures
Access to Capital
A Country’s Credit Rating
Institutional Factors
Laws, Policies, and Regulations to Promote Entrepreneurship
Political Stability
Skills
Values and Norms
Risk-Taking Behavior
Summary
Discussion Questions
References

Chapter 3 Global Entrepreneurial Strategy, John A. Parnell
Key Terms
Learning Objectives
Introduction
Theoretical Perspectives on Entrepreneurial Strategy
External Environment
Internal Environment
Strategy Formulation: Issues at the Corporate Level
International Orientation
Multinational Orientation
Global Orientation
Selecting the Proper Orientation
Strategy Formulation: Issues at the Business Level
Strategy Execution & Strategic Control
Summary
Discussion Questions
References

Chapter 4 International Business Plan, Joan Gillman and Kira Henschel
Key Terms
Learning Objectives
International Business Plans
Know Your Audience
What Business Are You Really In? Can It Be Taken Abroad?
What are Your Plans for Growth?
Components of Your International Business Plan
Summary
Discussion Questions
Additional References/Resources

Chapter 5 Business Opportunities for Global Entrepreneurship, Alvin J. Jackson, Jr.
Key Terms
Learning Objectives
Part One: Introduction
Knowing You Have Entrepreneurial Compatibility
Keys of Entrepreneurial Drive
Multinational Corporations and Global Markets
Global Opportunities for Small Businesses
The Entrepreneurial Test
Intrapreneurial or Entrepreneurial? That is the Question
A Kindred Intrapreneurial Spirit
The Economic Challenges of International Entrepreneurship
Global Market Integration
Global Inflation
Emerging Global Markets
The International Entrepreneur Political Perspective
Social and Cultural Differences in International Markets
Corporate Culture and Entrepreneurship
Workforce Diversity and Globalization
Cultural Orientation and Integration
The Technological Effect on International Entrepreneurship
How It Affects Global Competition
The Information Superhighway
E-commerce: The Entrepreneur Tool of Technology and Production
The Rate of Technological Change
Rate of New Product Introductions
Effect of the Internet on International Entrepreneurship
What can Be Learned
Successful Business Opportunities in International Entrepreneurship
Entrepreneurial Savvy
Alternative Approaches of International Entrepreneurship
Summary
Discussion Questions
References

Chapter 6 Global Entrepreneurial Leadership Competencies, Denise M. Cumberland
Key Terms
Learning Objectives
Abstract
Introduction
The Entrepreneurial Leader
Core Entrepreneurial Competencies
Universal Leadership Competencies
The Extra Ingredient: A Global Mindset
The Global Mindset Project
Intellectual Capital
Psychological Capital
Social Capital
Cultivating a Global Mindset
Assessing Global Competencies
Summary
Discussion Questions
References

Part Two Specialized Topics
Chapter 7 Exporting for Entrepreneurs: Twenty-first Century Strategies, Tools, and Support Services
, Nicholas C. Williamson and Steven M. Cramer
Key Terms
Learning Objectives
Introduction
Key Marketing Mix Issues in Exporting for the Entrepreneur to Consider
Product
Price
Promotion
Place or Channel of Distribution
The Business Librarian (BL)
Identifying the Best Export Market to Target
Identification of the Best Downstream Customer Type to Target in the Country Selected for Targeting Identification of Companies Both in the United States and Outside the United States That Are “Head On” Competitors of Your Firm
Identify Articles in Electronic Databases That Offer Insight into These Companies
United States Department of Commerce International (USDOCI) Personnel
Sources of Financing for Exports 128 US Governmental Entities for Facilitating Exports
Freight Forwarding Concerns (FFC)
Integrating the Activities of the BL, USDOCI, and FFC
Discussion Questions

Chapter 8 Global Economics and Finance, Dale R. Funderburk
Key Terms
Learning Objectives
Introduction
Trade Theory: The Basic Economics of International Trade
The Basis for Trade
Expanding Markets and Economic Efficiency
The Microeconomic Impact of Expanding Markets
Currency Issues and International Finance
Exchange Rate Determination
Control of Exchange Rates
Country Risk
Payment Terms and Options for International Trade
Financing Techniques in International Trade
Agencies that Promote International Trade
Summary
Discussion Question
References

Chapter 9 Cross-Cultural Customs and Communication Styles, Anatoly Zhuplev
Key Terms
Learning Objectives
Introduction
Culture and Its Role in International Entrepreneurship
Cross-Cultural Aspects of International Communication
Cross-Cultural Aspects of International Negotiations
Cross-Cultural Aspects of International Marketing
Cross-Cultural Aspects of International Management
Discussion Questions
References

Chapter 10 A Knowledge Approach to Developing Global Entrepreneurs, Madeline M. Crocitto and Sherry E. Sullivan
Key Terms
Learning Objectives
A Knowledge-Based View of Global Entrepreneurship Education
Applying a Knowledge-Based Approach
Knowing Why
Knowing Why and Knowing How
Knowing Whom
Global Knowledge
The Intersections of Knowing Why, Knowing How, Knowing Whom
Global Entrepreneurship Education—Looking Forward
Discussion Questions
References

Chapter 11 International Franchising and Other Forms of Entrepreneurship, Dianne H. B. Welsh with Ilan Alon
Key Terms
Learning Objectives
Introduction
Emerging Markets
Background
What Is An Emerging Market?
Level of Economic Development
Economic Growth
Market Governance
Practice and Theory Development
Research by Areas of the World Market
Central and Eastern Europe
Mexico and South America
Singapore, Malaysia, and Hong Kong
China
India
Other Asian markets
The Middle East
Industrialized Markets
North America
Multiunit and Master Franchising
The United States
Canada
The Pacific Rim
Japan
Australia
New Zealand
Israel
South Africa
Europe
Overview of Franchising in Europe
Austria
Denmark
Finland
France
Germany
Greece
Italy
Norway
Portugal
United Kingdom
Conclusion
Discussion Questions
References

Chapter 12 Going International? Alternative Modes of Entry for Entrepreneurial Firms, Nadia Ballard and Ilan Alon
Key Terms
Learning Objectives
Introduction
Methods of Entry to International Markets
Discussion Questions
References
Part Three Area Studies

Chapter 13 Central and Eastern Europe Entrepreneurship: A Multilevel Risk Analysis, Barbara Weiss
Key Terms
Learning Objectives
Abstract
The Regional Economy: Central and Eastern Europe (CEE)
European Entrepreneurship
Microeconomic Business Risk
Macrolevel Political Risk and Security Risk
Mesolevel Entrepreneurial Risk Analysis
Conclusion
Discussion Questions
References

Chapter 14 Entrepreneurship in Emerging Markets, Li Dai and Anatoly Zhuplev
Key Terms
Learning Objectives
Introduction
Variations in Opportunities, Challenges, and Risks
Pest Analysis of Emerging Market Economies
Political Regime and Stability
Economic Considerations
Social Factors
Technological Environment
4P Analysis of Marketing to Emerging Markets
Price
Place
Product
Promotion
Entrepreneurial Strategies in Emerging Markets
Step-by-Step Approach to Foreign Market Research
Summary
Exercises
References

Chapter 15 Latin America, Karla Mendoza-Abarca and Frank Hoy
Key Terms
Learning Objectives
Introduction
History, Geography, and Languages
Government and Legal Systems
Economic Structure
Culture and Religion
Educational Systems
Demographics and Physical Infrastructure
Industrial Structures
Trade Agreements and Associations
Import/Export Information
Small Business Practices
The Rise of Social Entrepreneurship
Discussion Questions
References
Suggested Readings

Chapter 16 China, Lan-Ying Huang and Shawn M. Carraher
Key Terms
Learning Objectives
Introduction
Guanxi
The Difference from Western Networking
Cultivating and Maintaining the Prominence of Guanxi in China Markets
Guanxi as Social Capital
Guanxi and Business Networks
Who Needs Guanxi Most?
Investing in China
Guanxi as an Advantage in China Market
Foreign Investments in China
Summary
Discussion Questions
References

Chapter 17 Direct Selling Worldwide: The Mary Kay Cosmetics Story, Dianne H. B. Welsh
Key Terms
Learning Objectives
Abstract
Introduction
The Americas
Europe
Asia Pacific
Conclusion
Discussion Questions

Glossary

Index

Dianne Welsh

DIANNE. H.B. WELSH is the Hayes Distinguished Professor of Entrepreneurship and Founding Director of the Entrepreneurship Programs at The University of North Carolina Greensboro, including the North Carolina Entrepreneurship Center and the Entrepreneurship Cross-Disciplinary Program. She has founded two entrepreneurship programs and centers and has held three endowed professorships above a full professor. She was named the Fulbright-Hall Distinguished Chair for Entrepreneurship for Central Europe at W.U. (Vienna University of Economics and Business) in 2015. She has been a visiting professor eleven times, including Finland, Poland, Lithuania, Slovakia, Austria, South Africa, and Chile. A world-renowned researcher and speaker, she has visited over 60 countries.

Dianne is the recipient of the Barbara Hollander Award for lifelong contributions to family businesses, education, and civic causes from the Family Firm Institute, the Legacy Award for Lifetime Achievement from the Global Consortium of Entrepreneurship Centers, and the Deshpande Foundation Outstanding Contributions to Advancing Innovation and Entrepreneurship Award. Dianne was honored with the Senior Teaching Award for the University of North Carolina Greensboro in 2015, the 2015 Commencement Speaker, and the Board of Governors Teaching Award in 2019, the highest teaching award in the State of North Carolina. Dr. Welsh has received 113 awards and honors.

Dianne is a recognized scholar in family business, international entrepreneurship, women-owned businesses, entrepreneurship pedagogy, cross-campus programs, and franchising. Dr. Welsh has authored 116 refereed journal articles, 68 books, chapters, and cases, 350 presentations and proceedings, and 15 magazine publications. Her research has been published in the Academy of Management Journal, Journal of International Business Studies, Entrepreneurship Theory & Practice, Journal of Business Venturing, Journal of Small Business Management, Family Business Review, Journal of Family Business Strategy, International Small Business Journal, Entrepreneurship & Regional Development, Journal of Business Research, among other journals. She serves on over 20 journal editorial review boards. Dr. Welsh’s Google Citation Index score is currently 5,300.

Dr. Welsh’s eight books include Creative Cross-Disciplinary Entrepreneurship: A Practical Guide for a Campus-Wide Program, published by Palgrave-Macmillan, Global Entrepreneurship (4th edition), Case Studies in Global Entrepreneurship (3rd edition), and Family Business and Entrepreneurship: From Survival to Success® (July 2022) published by Kendall-Hunt.

Dianne is a Fellow of the Family Firm Institute, U.S. Association for Small Business & Entrepreneurship, and Small Business Institute. She is a Certified Family Business Counselor from the Family Firm Institute and holds the Senior Professional in Human Resources certification. She was elected as the Chair of the Technology and Innovation Management Division of the Academy of Management with 2,700 members. She served as a Presidential Appointee to the U.S. Air Force Academy Board of Visitors and the Defense Advisory Committee for Women in the Services (DACOWITS). Known for her dedication to service, she has served in 570 service positions to the profession, university, and the community, including board positions on for-profit and not-for-profit entities, and served as chair of worldwide committees.

Dianne delivered the keynote address at the U.N.E.C.E. Women’s Entrepreneurship Conference in Azerbaijan in 2012. Dianne is a keynote speaker at numerous conferences and engagements on family business, franchising, international entrepreneurship, pedagogy, employee reward systems, and future trends. She has consulted for 43 Fortune 50 businesses, family businesses, franchises, and high growth businesses worldwide through the President of Family Business First International, Inc., the consulting company she formed in 1995. Dianne has assisted ten universities in implementing programs across campus in the U.S. and Australia. She was chosen in 2018 to be an expert panelist on the European Commission (DG EAC) evaluation of entrepreneurship programs in Europe. She recently interviewed and wrote a case on the 20th oldest family business globally. The case on the Chilean family business is available in the 4th edition of Global Entrepreneurship.

Dianne grew up in the family business, Boyt® Division Welsh Sporting Goods, where she worked from 8 to 21 years of age. Through this experience, she was able to gain inside knowledge of family business in a manufacturing setting, including creating a new product line that revolutionized the luggage industry, soft-sided luggage that most of the world’s population uses today. Dr. Welsh has owned an ice cream/sandwich shop, part-owner of a hotel on the Oregon Coast, and two consulting firms.

Dianne holds a bachelor’s degree in English with 47 hours of Business Administration from the University of Iowa, a master’s degree in Psychology specializing in Organizational Psychology from Emporia (Kansas) State University, and a Ph.D. in Business Administration from the University of Nebraska-Lincoln with areas in Organizational Behavior, Organizational Theory, Human Resource Management and Labor Relations. The famous researcher, Fred Luthans, was her dissertation chair known for Psychological Capital and Positive Organizational Behavior. She has published several articles with Dr. Luthans since graduating.

The author resides in Greensboro, North Carolina, with her husband, Thaddeus (Ted) J. Shalek, retired C.P.A., M.B.A. They enjoy spending time with their children and grandchildren, working out at the gym, gardening, collecting antiques, and ballroom dancing

Shawn Carraher

Shawn M. Carraher received his Ph.D. in Business Administration from the University of Oklahoma. He has served as the Oxford Journal Distinguished Research Professor and Director of the Small Business Institute® and Clinical Professor in International Business at the University of Texas at Dallas as well as serving at the Undergraduate Research Director. He has served as President of the SouthWest Academy of Management, Division Chair of the Management History Division, Division Chair of the Technology & Innovation Management Division, and PDW Co-Chair and Board member for the Careers Division and the Southern Management Association. He has also served as the President of the Small Business Institute®, the Association for Small Business & Entrepreneurship, and the Association for Entrepreneurship, Family Business, & Franchising as well as an officer of six Divisions of the US Association for Small Business & Entrepreneurship.

He has published over 100 journal articles, which have been cited over 15,000 times. His most recent publications have appeared in the Journal of Applied Psychology, Journal of International Business Studies, Journal of Occupational & Organizational Psychology, Organizational Research Methods, Decision Sciences, Educational and Psychological Measurement, Journal of Managerial Issues, Journal of Vocational Behavior, Journal of Quality Management, Journal of Applied Management and Entrepreneurship, Career Development International, Polymeric Materials: Science and Engineering, Global Business and Finance Review, and the Journal of Business Strategies.

He has directed research projects in over 130 countries. His research focuses on a variety of behavioral global entrepreneurship topics in the healthcare and tourism industries, and he has worked with over 50,000 SME owners from around the world. Shawn has also worked as a consultant specializing in performance enhancement and management development. He has co-owned a family business which has been in his family since 1893. He has served as the editor of several journals including the Journal of Management History affiliated with Division 1 of the Academy of Management and the Journal of Technology Management in China affiliated with the China Association of the Management of Technology, the Cambridge Case Studies Journal, the Academy of Strategic Management Journal, the International Journal of Family Business, the Global Journal of Management and Marketing, as well as serving as the interim editor of the Journal of Entrepreneurship Education.

Global Entrepreneurship is a well written text book focused on the understanding and skills on how to launch a new business overseas.  It examines the differences and the similarities that markets share but provides new companies the information to examine the challenges and opportunities that face global business today especially in these unusual times of protectionism, trade wars, populism, and economic uncertainty.  Regional focus and case studies make the book a good tool for instructors to guide students who are interested in international business and entrepreneurship.
Steven Schaefer, MBA
National University

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