The entrepreneurs path to global expansion: Global economy
- The entrepreneur's path to global expansion
- Opportunities and resources
- Three paths to global expansion
- Keys to success
- Learning activity
The first step for an entrepreneur is to define what are its opportunities and resources. Selling existing product or service in new geographic markets.Demand for a new product or service or for an existing product.Possibility of product-line extension. Better access for the company to resources such as capital, well-trained managers and engineers or specialized supplier services. Resources comprise everything that the entrepreneur might enlist to pursue an opportunity: Financial capital. Specific talent and human capital. Specific information useful to pursuing a business opportunity.Risk-capital providers that can offer more than financial capital. The International Expansion Matrix is the juxtaposition of the opportunities and resources for a company. This matrix defines the choices that a venture has at its inception and throughout its life. This matrix is used to assess and direct a venture but also to communicate with investors and employees.