The document discusses entrepreneurship and small and medium enterprises (SMEs). It defines entrepreneurship as identifying and exploiting business opportunities. Successful businesses are often started by visionaries who see potential where others do not. International entrepreneurship involves risk-taking and innovation. While risks are high, so are potential returns. Most businesses start as SMEs, which are defined as having less than 500 employees. SMEs make significant economic contributions and generate more jobs than large companies. However, their success depends on factors like the sociopolitical environment, access to financing, innovation, and overcoming limitations.
2. Entrepreneurship can be defined as a process
where in opportunities that were not explored
earlier are explored are identified and
exploited as part of a business process.
Entrepreneurship has a great role to play in
the development of business organizations.
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3. Most of the successful business organizations
today were established because the
visionaries could observe a potential which
other were not able to perceive.
Those visions have given rise to what is called
as great business opportunities that they
have been exploiting.
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4. International Entrepreneurship can be defined
as a process where by the business process
adopts innovative, proactive and exhibits
risk-taking behavior.
The risk-taking behavior is one of the most
important and featured characteristics in an
International Entrepreneurship.
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5. Higher risks are taken where there is a great
uncertainty in the happening of an event.
But when the event does happen, the returns
will be very high.
So, for earning great returns, entrepreneurs
are ready to take great risks.
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6. An entrepreneur starts his/her life as an SME
or Small or Medium Enterprise.
Small or medium enterprises are
characterized by the number of employees
working in the organization.
Usually, a concern is considered to a small or
a medium enterprise when the total number
of employees are less than 500.
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7. The significance of small and medium
enterprises cannot be ignored in today’s
global business.
In fact, every year many number of SMEs are
entering into many fields promoting their
business globally.
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8. Some of the industries include import and
export of goods and services, education,
research, business process outsourcing,
knowledge process outsourcing, market
research, etc.
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9. Today, small and medium-scale enterprises
are generating more employment than large
corporate organizations.
People are willing to work in small and
medium-sized enterprises. Some people are
even trying establish their own enterprises.
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10. In many countries, the socio-political and
economic environment plays a major role in
encouraging or discouraging a small or a
medium-scale business.
The framework in a country such as the
formalities, hindrances on funds allocation,
the tax laws and the bottlenecks in the
particular industry play a major role in the
development or destruction of small
business.
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11. In some countries the traditional and
conservative attitudes, prejudices and
misconceptions of the people also play a
major role in the discouragement of small
businesses.
These conservative attitudes, misconceptions
and prejudices narrow down the observation
of a person resulting in not grabbing a huge
potential or an opportunity in hand.
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12. Apart from cultural aspects, economic
aspects such as total lack of or under-
availability of resources and lack of
capabilities determine to a great extent of the
success of the business.
But, some entrepreneurs survive and triumph
even in the negative scenarios. Some of the
determinants for their success include:
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13. Innovation is the biggest factors for any
entrepreneur. There are so many businesses
coming up.
But, the most innovative among them will
survive. Innovation acts like a shield in the
cut-throat competition.
Businesses which do not innovate quickly will
not be able to survive in the cut-throat
competition.
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14. Finance today, is another, big handicaps for
any business.
Availability of cheap finance is a promise for
the business to bring in more resources,
more minds and hands in action.
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