RSM490H1 Study Guide - Final Guide: Franchising, Leveraged Buyout, Social Capital
26 Nov 2012
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Document Summary
Small and medium sized enterprises (sme): firms with fewer than 500 employees in the us and with fewer than 250 employees in the eu. Entrepreneurship: the identification and exploitation of previously unexplored opportunities. Entrepreneurs: founders and owners of new businesses or managers of existing firms. International entrepreneurship: a combination of innovative, proactive and risk-seeking behaviour that crosses national borders and is intended to create wealth in organizations. An entrepreneurial firm must take the vrio framework (value, rarity, imitability and organizational) Financing: microfinancing: a practice to provide micro loans (-300) used to start small businesses with the intention of ultimately lifting the entrepreneurs out of poverty. Born global: start-up companies that attempt to do business abroad from inception. Compared to domestic, transaction costs are higher for internationalization. International strategies for entering foreign markets: direct exports. The sale of products made by firms in their home country to customers in other countries.
