International entrepreneurship

Aims of the course

• Evaluation of new business idea with consideration of facts connected to establishment of international firm
• Identification of critical assumption and condition for business success
• Identification of treats and challenges of running business in several business environments or global
• To get knowledge how to get proper information and to use them in running international firm and taking business decisions
• Knowledge how to analyse certain state or region in order to identify business opportunity
• To get knowledge how to do business plan for international business opportunity
• To get understanding of differences among countries about legislation, culture and business practice

Course syllabus

1)Framework of international entrepreneurship.
Timmons model. What is entrepreneurship in an international context. Comparing the climate for entrepreneurship across countries: Global Entrepreneurship Monitor.

2)Institutional context for international entrepreneurship. Theory and practice. Institutional Environment and Economic Performance: On the Importance of Formal and Informal Institutions. Productive, Unproductive & Destructive Forms of Entrepreneurship. Regulatory considerations: World Bank program on benchmarking business regulation. Necessity and Opportunity Based Entrepreneurship: A Cross-National Comparison between Developed, Transition and Developing Countries. Culture considerations.

3)Internationalization strategies. Theory and international evidence. Internationalisation strategies. Market Entry- Exporting, Licensing, Direct Investment. Single Country Export Model. Multiple country model. Direct Investment/ Strategic Alliances. Growth and Exit Factors of Newly Founded Firms.

4)Access to customers and markets. . Analyzing which customer and which markets to focus on. Country versus market analysis. Access to marketing networks. Entrepreneurial alliances.

5)Access to resources- Skilled Workforce. Recruiting, retaining, and motivating employees and partners. Methods to assess skills and efficiency of the workforce. Radical differences in global labor costs. Radical differences in the availability of skilled technical workers. Trends in global outsourcing and the impact on startups.

6)Access to resources-finance. Methods of financing new ventures around the world. Role of angels and informal investors. Identifying investment sources. Methods of negotiating, valuing, and closing startup financing.

Course director(s)