opportunity in global level
Opportunity Global Level ries of a nation. There are Multi National Corporation across Modern day business is not confined to the boundathe world, for whom going global is a matter of survival and not preference. Modern business units have to think and act globally. Failure to exploit global markets can result in the downfall of a business. On the other hand exploiting the entrepreneur. opportunities at global level offers the following benefits –
i.Increased production and profitability.
ii.Offsetting decline in domestic sales with increase in sales at international levels.
iii.New products and new product life cycles.
(iv)Lower cost of production.
(v)Improvement in the quality of produce.
(vi)More Emphasis on innovation and creativity.
(vii)More customer orientation.
For going global an entrepreneur is required to develop right type of attitude and commitment.
According to Norman M. Scarborough and
Thomas W. Zimanerer. “Success in the global economy requires constant innovation, staying visible enough to use speed as a competitive weapon, maintaining a high level of quality and constantly improving it, being sensitive to foreign customer’s unique requirements, adopting a more respectful attitude towards foreign habits and customers; hiring motivated multilingual employees’ and retaining a desire to learn constantly about global markets.
In the underdeveloped regions due to paucity of funds, shortage of skilled workers and absence of right type of infrastructural facilities the emergence of innovative type of entrepreneurs is adversely affected. Immitative type of entrepreneurs, who are ready to adopt successfully innovations pioneered by innovating entrepreneurs, are more suited for meeting the requirements of less developed countries. of economic development. They They have the potential to put these economies on high rate act as catalytic agents of economic development and agents of change in under developed countries. They act as revolutionary