Second Edition International Entrepreneurship Starting, Developing, and Managing a Global Venture Robert D. Hisrich Thunderbird, The Garvin School of International Management (DSAGE Los Angeles London New Delhi Singapore Washington DC
Contents Preface Acknowledgments xi xiii Part 1. International Entrepreneurship and Entrepreneurship Opportunities 1 1. Importance of International Entrepreneurship 3 Profile: Kandahar Treasure 3 Chapter Objectives 5 Introduction v. 5 International Versus Domestic Entrepreneurship 8 Motivations to Go Global 12 Traits of an International Entrepreneur 13 The Importance of Global Business 14 Summary 15 Questions for Discussion 15 Chapter Exercises ' 15 Note 15 References,. 16 Suggested Readings 17 2. Globalization and the International Environment 19 Profile: Wing Zone 19 Chapter Objectives 20 Introduction 21 Strategic Effects of Going Global 21 Strategic Issues 22 Opportunities and Barriers to International Trade 23 Important Considerations 25 Summary 28 Questions for Discussion 29 Chapter Exercises 29 Note 29
References 29 Suggested Readings 30 3. Cultures and International Entrepreneurship 33 Profile: Jack Ma 33 Chapter Objectives 35 Introduction 35 Nature of Culture 35 Seven Cultural Determinants 37 Cultural Dimensions and Leadership 41 Summary 45 Questions for Discussion 45 Chapter Exercises 45 Note 46 References 46 Suggested Readings 46 4. Developing the Global Business Plan 49 Profile: TOMS Sho.es 49 Chapter Objectives' 51 Introduction 51 Opportunity Analysis Plan 52 Purpose of a Global Business Plan 53 Aspects of a Global Business Plan 55 Do's and Don'ts of the Global Business Plan 63 Sample Global Business Plan 64 Summary 64 Questions for Discussion 65 Chapter Exercises 65 References, 65 Suggested Readings 65 Part 2. Entering the Global Market 67 5. Selecting International Business Opportunities 69 Profile: Frontera Foods 69 Chapter Objectives 71 Introduction 71 Foreign Market Selection Model 71 Developing Foreign Market Indicators 73 Primary Versus Secondary Foreign Market Data 74 Sources of Country Market Data 76 Competitive Positioning 81
International Competitive Information 84 Summary 88 Questions for Discussion 89 Chapter Exercises 89 References 89 Suggested Readings 90 6. International Legal Concerns 91 Profile: Brooklyn Industries 91 Chapter Objectives 93 Introduction 93 Political Activity 94 Political Risk 95 Legal Considerations and Regulations 95 Intellectual Property and Organizational Form 97 Patents 97 Trademarks 100 Copyright 100 Trade Secrets 101 Licensing \ 101 Contracts 103 Business Ethics in a Global Setting 104 Summary 105 Questions for Discussion 107 Chapter Exercises 107 References 107 Suggested Readings 108 7. Alternative Entry Strategies 111 Profile: Blank Label 111 Chapter Objectives 112 Introduction. 113 Formulating the Global Strategy 113 Timing of Market Entry 114 Scale of Entry 115 Foreign Market Entry Modes 116 Entrepreneurial Partnering 123 Summary 124 Questions for Discussion 124 Chapter Exercises 124 Note 125 References 125 Suggested Readings 125
Part 3. Managing the Global Entrepreneurial Enterprise 127 8. The Global Monetary System 129 Profile: Tiffany & Co. 129 Chapter Objectives 130 Introduction 130 Foreign Exchange 131 Aspects of the Foreign Exchange Market 131 Nature of the Foreign Exchange Market 132 Foreign Exchange Rate Fluctuations 132 The Global Capital Market 133 Balance of Payments 136 Role of the International Monetary Fund and World Bank 137 Trade Financing 139 Summary 144 Questions for Discussion 144 Chapter Exercises 145 Suggested Readings 145 9. Global Marketing and R&D 147 Profile: Spanx 147 Chapter Objectives 149 Introduction 149 Technological Environment 150 Product Policy and Total Quality 151 International Research and Development 156 Developing the Global Marketing Mix- 167 Summary 172 Questions for Discussion 173 Chapter Exercises 173 Note 174 References 174 Suggested Readings 174 10. Global Human Resource Management 177 Profile: Bonobos 177 Chapter Objectives 178 Introduction 179 Motivation Across Cultures 179 Sources and Types of Human Capital 180 Selection Criteria 182 The Global Mindset 183
Selection Procedures Compensation Policies The Hiring Process Summary Questions for Discussion Chapter Exercises References Suggested Readings 11. Implementing and Managing a Global Entrepreneurial Strategy Part 4. Cases Profile: Red Bull Chapter Objectives Introduction Global Strategic Planning Global Organizational Structure Overall Organizational Structure Authority and Global Decisions Controlling the Global Venture Managing Chaos Summary \ Questions for Discussion Chapter Exercises References Suggested Readings I. Beijing Sammies 2. Federal Express 3. Fitz-RitterWine Estate: 225 Years of Tradition and Entrepreneurship 4. Intelligent Leisure Solutions 5. Logisys: A Small Company With International Potential 6. Mayu LLC 7. Motrada Ltd. 8. Parsek LLC 9. Sedo.com 10. Trimo II.UniMedand EduMed 184 185 187 189 189 190 190 190 193 193 195 195 195 199 199 202 202 203 205 205 206 206 206 209 211 225 231 255 111 299 311 323 337 347 359
Maktabi Sample Global Business Plan 373 Index 509 About the Author 519