全球战略管理ppt

1 GrowingandInternationalizingtheEntrepreneurialFirm 5 GSM 2 Acknowledgement ThefollowingslidesarebasedonPowerPointslides copyrightDeng 2009 andOriginalslidespreparedbytheLecturer 3 Outline Entrepreneurship entrepreneurs andentrepreneurialfirmsAcomprehensivemodelofentrepreneurshipFiveentrepreneurialstrategiesInternationalizingtheentrepreneurialfirm 4 Outline DebatesandextensionsThesavvyentrepreneur 5 LearningOutcomes AttheendofthissessionStudentsshouldhaveanunderstandingof Entrepreneurship theoriesandpractices 6 EntrepreneurialActivity Entrepreneurship theidentificationandexploitationofpreviouslyunexploredopportunitiesEntrepreneurs setofindividualswhodiscover evaluate andexploitopportunitiesFoundersandownersofnewbusinessesandmanagersoffirmswithfewerthen500employees 7 EntrepreneurialActivity ANAMERICANCHASINGTHECHINADREAMMikeMorris USA headsChinaoperationsin2002ofsmallgiftsandaccessoriesfirmProductsassembledinChinawithcomponentsmadeinJapan HK Taiwan USA2002 2004setupownsupplychainfirmwithinChinawithemployer ssupport 8 EntrepreneurialActivity ANAMERICANCHASINGTHECHINADREAMWithChinesepartnershiringmanagementteamandbuildingfactory capitalandmarketingfromMorrisandemployer2007 USquality Chinaprice40employees 2mannualrevenuesEnd2007Morrissoldinterest2008anotherChinaventurewithafriend 9 EntrepreneurialActivity Nottheexclusivedomainofsmall youngfirmsSmallandmedium sizedenterprises SMEs globally lessthan500 95 ofallfirmsCreate50 oftotalvalueaddedGenerate60 90 ofallemploymentEachyear4 6 ofadultworkingpopulationinNorthAmericaandEuropestartanewventure 10 EntrepreneurialActivity OnlyasmallnumberofentrepreneurialfirmssurviveYr1 between78 0 9employees and100 250 employees Yr4 50 0 9employees and70 100 249employees 11 EntrepreneurialActivity EntrepreneurshipalsoexistsinlargefirmsInternationalentrepreneurshipInnovative proactive andrisk seekingbehaviorthatcrossesnationalbordersIntendedtocreatewealth 12 AComprehensiveModelofEntrepreneurship Figure5 1 13 SkiinginAfrica SouthAfricaandLesothoCreatingskiresortsinareaswheresnowispatchyUseofartificialsnowCreatinguntappeddemand Losesnoveltyvalueasotherscopy 14 ResourceBasedModelofE ship Industry basedconsiderationsIntensityofinter firmrivalryFewerincumbents morelikelytocolludetokeepoutnewcomersEntrybarriers capitalintensiveBargainingpowerofsuppliers howtoreduceit 15 ResourceBasedModelofE ship Bargainingpowerofbuyers howtoreduceitThreatofsubstituteproducts services 16 ResourceBasedModelofE ship Cautions FactorsunderlyingtheabovefiveforcesmaybeunknownConsumerpreferencesEffectivepricingCapacityneededNoguarantees 17 ResourceBasedModelofE ship Resource basedconsiderationsEntrepreneurialresourcesmustcreateVRIO value rare inimitable organizationallyembedded Signsofcredibility specialization reputation alliances etc Institution basedconsiderationsFormalinstitutionsgovernnewventuresStrikingdifferencesingovernmentregulationsofstart ups 18 ResourceBasedModelofE ship Generalconclusions Levelofentrepreneurshipaffectedby EconomicdevelopmentsHarshnessofregulationsFriendlinessofformalinstitutionsSupportofinformalinstitutions valuesandnorms 19 FiveEntrepreneurialStrategies GrowthInnovationNetworkFinancing governanceHarvest exitAsixthstrategy internationalization willbecoveredinthenextsection 20 EntrepreneurialStrategies Growth AttempttoutilizeresourcesandcapabilitiesEntrepreneurialvisionEntrepreneurialdriveEntrepreneurialleadershipHallmarksofgrowthDynamic flexible guerillastrategyEmphasizeaction notanalysis emergentstrategies 21 EntrepreneurialStrategies Growth CautionsAvoidover aggressivenessEmbraceuncertainties butavoidexcessiveriskCarefullystageandsequenceriskyprojects 22 EntrepreneurialStrategies Innovation AninnovationstrategyisaspecializedformofdifferentiationstrategyOnaverage thereisapositiverelationshipbetweenahighdegreeofinnovationandsuperiorprofitability 23 EntrepreneurialStrategies Innovation AdvantagesofaninnovationstrategyCreatesamoresustainablecompetitiveadvantageTechnologicalbreakthroughsandorganizationalinnovations newwaysofdoingbusiness Owners managers andemployeesatentrepreneurialfirmsaremoreinnovativeandrisk takingthanthoseatlargefirms 24 EntrepreneurialStrategies Network Intentionallyconstructandtapintorelationships connectionsandtiesthatindividualsandorganizationshavedevelopedTranslatepersonalnetworksintovalue addingorganizationalnetworks 25 EntrepreneurialStrategies Network DistinguishingcharacteristicsNeededtoovercomeliabilityofnewnessIntensityofrelationshipsisimportantNetworksrepresentsignificantresourcesandopportunitiesMayleadtosuccessfulentrepreneurialperformanceCentrallylocatednetworkpositionsaremosthelpful 26 EntrepreneurialStrategies FinancingandGovernance Strongties e g family friends etc arethemostlikelysourcesInternationaldifferencesinextenttowhichentrepreneursdrawonresourcesoffamily friendsversusoutsidersOutsideinvestorsusuallydemandcollateralorsomeotherassurance 27 EntrepreneurialStrategies FinancingandGovernance OddsforsurvivalduringcrucialearlyyearsaresignificantlycorrelatedwithfirmsizeFasteranewstart upcanreachacertainsize themorelikelyitwillsurviveEntrepreneursoftenchoosetoacceptmoreoutsideinvestmentinordertoreachalargesize 28 EntrepreneurialStrategies HarvestandExit Entrepreneursmustthinkabouttheirexitplanearlyinthebusinesscycleandaimatmaximizingthegainsfromtheirlabor 29 EntrepreneurialStrategies HarvestandExit Routesforentrepreneurialharvestandexit SellinganequitystakeSellingthebusinessMergingwithanotherfirmGoingpublicwithaninitialpublicoffering IPO Declaringbankruptcy 30 InternationalizingtheEntrepreneurialFirm EntrepreneursarechallengingmythsaboutinternationalizationTransactioncostsarehigherInternationalstrategiesforenteringforeignmarketsDirectexportingLicensingorfranchisingForeigndirectinvestment FDI 31 InternationalizingtheEntrepreneurialFirm InternationalstrategiesforstayingindomesticmarketsIndirectexpor