BMG936 International Entrepreneurship Assignment Sample 2023
PART A: Analysing the International Entrepreneur
1. Introduction
The study has included the analysis of an international entrepreneur who is the present Chief Executive Officer in Google. This study is about the role and responsibilities that have been obtained by Sundar Pichai during his employment at Google. In this study, the importance of technology entrepreneurship is going to be discussed through the example of Sundar Pichai. His contribution to organizational development as well as society has been discussed in this study. Apart from that, various factors that are influencing the attitude and behaviour of this technology entrepreneur have been evaluated in this study.
2. Role of technology entrepreneur in organizational development
Technology entrepreneurship is beneficial in enhancing the workplace environment of a particular business organization by implementing technological innovations. In order to enhance the satisfaction level of customers in technology or various technical aspects, the technology entrepreneur plays a significant role. According to the view of Guo et al. (2017), technological entrepreneurs identify and implement different strategies in an organization so that the particular organization can enhance its technology business effectively. In terms of ensuring potential transformation of an organization scientifically the role of a technology entrepreneur is crucial. For example, Sundar Pichai who is the current CEO of Google has made major contributions to the development of this organization (Google.com, 2021). His hard work and intense effort for this organizational development have secured his career in this organization.
Sundar Pichai was appointed to this organization as a product manager in 2004 and he was responsible for developing software for its clients. His earnest effort has helped him in satisfying the clients with technical products and it has helped him in gaining a reputation in the organization. His ability to lead and manage the employees and attitude to make sure clients are happy with their services have helped him in his career growth (Indurthi et al. 2017). Technological entrepreneurship is different from other entrepreneurship because in this case the entrepreneur is responsible for scientific or technical innovation and implements that for the benefit of mankind. Intense effort given by Sundar Pichai for the development of Google has helped the organization to become the most prioritized search engine company in this world (Statista.com, 2021).
Figure 1: Revenue statistics of Google from 2002-2020
(Source: Statista.com, 2021)
The effectiveness of Sundar Pichai has helped Google to make its revenue from 3.2 billion USD to 181.69 billion USD and this is a great contribution (Statista.com, 2021). According to the view of Hadi and Abdullah (2018), an effective technology entrepreneur can help an organization to reach the summit of success through its intense effort to make scientific innovation. The required skills of an effective technology entrepreneur include management skills, leadership skills, communication skills, motivational skills, technical skills, and others. In terms of Sundar Pichai, the person has all of these qualities and thus he has occupied the position of CEO in this leading technological company called Google.
Google has successfully developed various technological products such as Gmail, Google Play Store, Google translate, and others. These products have helped the organization in earning more brand recognition and profit. Effective leadership quality of Sundar Pichai relies on his attitude and behaviour that motivate most of his employees to improve their performance and follow him as their ideal (Shabbir and Muhammad & Kassim, 2019). At a young age, this person has faced major problems in terms of adjustment when he just came to the UK to join his first job at Google. However, with his hard work and earnest effort, he has been able to manage his employees and he maintained a healthy relationship with others. The best part about this human being is that he does not have any enemies in this world.
Technology entrepreneur assist in the development of an organization by providing innovative and effective technology that increase the productivity level of employees by improving services. As stated by Patelli et al. (2017), scientific innovation and development are necessary for an organization as it helps in the transformation of the current scientific aspects. Besides, it helps in bringing major transformation to a particular organization and helps them in earning huge profits. In terms of securing organizational sustainability for the future, technical entrepreneurs need to make required changes in the organizational technical products and services so that the organization can lead in the technology market. In the case of Google, Sundar Pichai has left a major contribution in this organization that has helped this organization to achieve huge growth in the last few years.
3. Factors influencing attitude and behaviour of technology entrepreneur
Several factors can affect the attitude and behaviour of the technology entrepreneurs in an organization such as support from organizational stakeholders, availability of enough resources, and others. According to the view of Guo et al. (2017), ensuring career growth in an organization leaves a major impact on the attitude and behaviour of the entrepreneur. In the case of Sundar Pichai, he has been able to give his earnest effort for organizational development because he has achieved continuous growth in his company. He started his career as the product manager at Google and currently he is working as the CEO of this organization. There are multiple factors that assist to influence entrepreneurship such as cultural, economic, legal, and political environments.
4. Conclusion
Besides that, his loyalty, personality, communication skills, problem-solving skills, and other employability skills have helped him in developing his position in this organization.
It can be concluded from this study that technology entrepreneurship is significant in transforming an organization through scientific innovation. Implementation of innovative technology is responsible for the increased competitive strength of an organization. The study has interpreted the effective contributions of Sundar Pichai in Google and the revenue growth of this organization. This study is beneficial in analysing the attributes of an international entrepreneur. The study suggests that to become an effective entrepreneur an individual needs to develop various skills as Sundar Pichai did.
PART B
Introduction
There is a requirement to understand the behaviours of consumers in order to provide effective services. Innovation of ideas and implementation of technology plays a significant role in the improvement of services. The section of Part B is going to discuss the effect of consumer behaviour on technology entrepreneurship and preface of technology entrepreneurs on the development of socio-economic.
Theme 1: Impact of consumer behaviour and other factors on technology entrepreneurship
Consumer behaviour and satisfaction level are the major factors that affect an organization in its productivity. Sundar Pichai has helped Google in developing its technological products by allowing his employees to apply their ideas to products if they think that can be beneficial. This kind of authority to the employees has been given by this person so that Google can achieve more success (Lotfi et al. 2018). It inspires the employees for giving their best effort for the development of Google.
However, the main goal of a technology entrepreneur needs to be based on consumer behaviour and their satisfaction level regarding a product. In the words of Olanrewaju et al. (2020), effective market research and development are beneficial for an organization to identify continuous changes in consumer behaviour and ensure consumer satisfaction levels. Consumer behaviour can be changed due to various factors that affect their decision-making ability. Google has never stopped its market research to understand consumer requirements and therefore it has introduced innovative technology products to attract its customers.
Theme 2: Role of technology entrepreneur on socio-economic development
Innovation of technology helps an organization in improving the existing scientific innovations and motivates employees in giving their earnest effort to improve organizational performance. In the words of Korobov et al. (2017), an effective entrepreneur thinks about its employees as well as socio-economic development. Transformation of innovative technology is beneficial in terms of giving opportunities to many people regarding employment. Employment helps a country in its Gross Domestic Product (GDP) growth that helps to measure the economic position of a country in this world.
Figure 2: Market share of different search engine companies in the UK
(Source: Statista.com, 2021)
Sundar Pichai has provided Google with effective employees from all over the world and their earnings helped them in improving their social and economic status. As per the view of Korobov et al. (2017), Google has contributed to the UK economy so much that the current annual economic value provided by this organization in the UK is 55 billion USD. Among the various technology products of Google it contributes 2.8 billion USD revenue in the UK economy through its Android application. Google has been identified to achieve the highest rank in the search engines in this world (Statista.com, 2021). It has the highest market share in the economy of the UK that is 86.31% and this huge economic contribution of this organization has helped Sundar Pichai in occupying a secured position in international technology entrepreneurship (Statista.com, 2021).
Conclusion
Based on the above discussion it can be concluded that in the major factors that affect the productivity level are customer satisfaction level and consumer behaviours. Sundar Pichai has assisted Google in the development of its products by innovative ideas. Appropriate innovative ideas assist to have effective competitive advantages. Moreover, the innovation and implementation of technology assist in the development of socio-economic by enhancing the productivity level of employees.
Abstract
The study has depicted an image of international entrepreneurship. The primary characteristics of entrepreneurs are entrepreneurial orientation, innovative mindset, knowledge development, emphasis on learning, international marketing capabilities and flexibility to adopt. The study has discussed and analyzed the factors of International Entrepreneurship and economic development. There are multiple barriers in international entrepreneurship that has been discussed effectively in this study such as management of terms and conditions that caters on a worldly basis, vast differences in cultures, and barriers to diversity in language. Moreover, the study has focused on theories such as Schumpeter’s Theory of Innovation, and Kunkel’s Theory (Emphasis on Entrepreneurial Supply). Theories assist as a guidance in order to improve services and increase future opportunities. Behaviour plays a crucial role in the development and improvement of services. Therefore, the study has discussed the behaviour of entrepreneurs to improve competitive advantage.
Course work 2- Literature Review
1. Introduction
The term entrepreneurship refers to an individual who is passionate about the creation of a new approach in the world of business and as well as starting an innovative kind of business. The setting of a business that draws the international aspects to its behaviour can be termed as the International Entrepreneurship (IE). The importance of International entrepreneurship lies in the fact that it contributes to the “economic sustainability” being the “sustainable contributor”. In this literature review, the study will concern with the exploration of International Entrepreneurship (IE) and how it is linked with the development of the economy of the country. Both the aspects of “International entrepreneurship (IE)” and “Economic development” are interlinked and they provide three dimensions to the notions of sustainability. Relevant theories to this research topic are going to be included in this research study so that this research topic can be analysed more intensely.
2. International Entrepreneurship and economic development
In making an analysis both the notions of “International Entrepreneurship” and “economic development” seems to be a major factor that influences all such factors that contribute to the improvement of the society eliminating the negative notions. According to the theorists concerned with economic development, the aspects of “International entrepreneurship (IE)” are of prime importance in developing the economy all over the world (Akter and Rahman, 2019). They tend to form a close relationship with the various aspects such as social, economic and sustainability to the environment for the consequent growth in the economy within a country. The aspect of “International entrepreneurship (IE)” is primarily developed by the enterprises that constitute both the small and the medium businesses (SMEs) and they form the main contributors to the outputs of the economy of the country.
The aspect of “International entrepreneurship (IE)” also tends to initiate a drive in the development of the “Human capital” and “Research and development or (R&D)” thereby helping the company to modernise its products and services (Andrushchenko et al. 2020). Both these aspects contribute to the sustainability of the environment by promoting the opening of small economies. Due to the significance of the “International entrepreneurship (IE)”, within the nation and all over the world, the government has made certain laws that assist the “Small and Medium Enterprises (SMEs)” to make a good amount of benefit from the “integration of the market” as well as “globalisation within the economy” (Nummela et al. 2014).
International entrepreneurship is beneficial for an organization in terms of expanding the particular business in another country. It helps the other countries in getting employment by the expansion of the organization. In this aspect, most of the international government allow other countries to obtain their business in their countries for more profit. Besides that, it helps them in earning more brand recognition and the enhanced employment to the other country population helps international business organizations in securing their business sustainability in the new country (Baier-Fuentes et al. 2019). In most of the cases it has been seen that international trade law supports the various market entry modes to the international entrepreneurs so that they can develop the local economy of the other countries. However, it is beneficial for both the aspects that are the international entrepreneur and the country where it has been expanded.
The term “international entrepreneurship (IE)” is a notion of behaviour that helps an individual to become proactive in his or her innovation and also motivate takes up the issues related to the risks thereby assisting the organisation to provide values in the market. This helps one in the formation and establishment of an innovative business not only within one’s country but also across national and international borders. The entire notion of “International entrepreneurship (IE)” is based on an efficient international entrepreneur. There are a few characteristics to the term “international entrepreneurship (IE)”, which needs to be taken care of to promote and contribute to the development of the economy of the country (ÁronPerényi and Losoncz, 2018).
The entrepreneur should focus on the development of knowledge and learning and will also develop capabilities for international marketing. The entrepreneur should be flexible enough in nature that he or she is capable of adaptation based on the continuous change of the situations. The entrepreneur also should emphasise the strategies that improve the quality of services and products offered by the company (Arte Et al. 2020). This also contributes to the “innovative mindset” of the entrepreneur. Moreover, there are various advantages to the notion of “international entrepreneurship (IE)” as they help in the management of the easy flow of cash, reduces competition, better the assessment of risks and many more.
3. Identification of issues
“International entrepreneurship (IE)” provides immense growth to the development of the economy of the country but on the other hand in the establishment of “International entrepreneurship (IE)” there proved to be many significant challenges and issues that hindered the growth. Some of the issues and challenges that are explored in this assignment are as follows, “barriers to the diversity in language”, “vast differences in the cultures”, “management of the terms and conditions that caters on a worldly basis“. Other significant issues relating to the “exchange of the currencies and the rates of inflation” and finally, “nuances that are created through the relationship between the foreign politics and policies” (Atamas et al. 2020). The importance of Technology Entrepreneurship is also explored promoting the positive aspects within the company. Factors are also analysed that create immense impacts on the entrepreneurial behaviour and attitudes that affect the development of the economy of the country.
“Barriers to the diversity in language”
In establishing a business by crossing the international boundaries the company must face the issues that relate to the problem in the aspect of communication. This is due to the striking differences in the languages, accent and tone of both the communicators. The differences in the languages lead to miscommunication between the employees as well as the authorities of the concerned company. Furthermore, it affects the workings by the decrease in the performance within the company and tends to delay the completion of the project (Baier-Fuentes et al. 2019). This affects and hinders the successive growth and development of the company. On a macroscopic level, this also affects the development of the economy of the country.
Diversity in language causes major challenges for the international entrepreneurs and that is supposed to be the major concern of them. As per the view of Etemad (2017), it is obvious that in case of changing a country the entire working environment will change. However, these changes have created several issues for the international entrepreneurs and that is supposed to be mitigated urgently. Different languages can cause misunderstandings about the business and business related factors. Besides, miscommunication is a major issue that can create major issues both culturally and legally. In case an entrepreneur does not possess keen ideas about the language and culture in which it has expanded its business then it may unconsciously hurt their emotion and that is a major issue for the entrepreneur. Moreover, the country can charge huge amount and legal charges on the businessman that can highly impact his business in the other countries.
“Vast differences in the cultures”
It is quite natural that in the establishment of the company, to a foreign country, the “diversity in cultures” seems to be a significant issue. This is better acknowledged by the significant changes in the preferences and the choices of the civilians of that specific country. Therefore, blending of culture is important by significant differences in the aspects of “holidays”, “traditions”, “food”, “arts” and “traditional norms” (Bolzani and Der Foo, 2018). So in managing and developing the business, the company needs to make intensive research on the preferences and the choices of civilians of that country. If the company does not provide importance to the target customers or the employees their business may get affected. This will also constitute one of the negative aspects that will create difficulty in the generation of the revenues as well as the profit by the company from the market. This will further tend to create problems in acknowledging the potentiality within the customers as well as the employees and may seem to provide difficulty in the running of an overseas production (Etemad, 2019).
“Management of the terms and conditions that caters on a worldly basis”
Setting up a business on a foreign land creates certain significant problems such as “time zones”, “levels of varying technology”, “reliance” and many more and these seem to be quite challenging in the entire working procedures of the company. Therefore the company needs to build up such strong methods and procedures that are closely related to the global terms of the concerned country (Etemad, 2017). But, building up a storage system on a global basis is quite difficult and requires enough potential. This will not only help the employees but also the company authorities to work efficiently leading to the consequent growth and development of the economy.
Poor knowledge about the international business law and its various terms and conditions is a real issue that can impact the business performance of that particular business organization. For example, in case an organizational leader has no idea about the cultural differences and behavioural and attitude issues of the employees from other countries then it can impact the overall performance of the business organization. However, it is necessary to obtain proper research and development on the various terms and conditions of the new countries where the business is being expanded. Otherwise, it can create major issues in the expansion of business of starting a new business in the international marketplace.
4. Application of theories
In exploring the field of “International entrepreneurship (IE)”, certain theories are there that will help in improving the conditions of the entrepreneur as well as the company (Mitter and Hiebl, 2017). In this major focus will be given to the “Schumpeter’s Theory of Innovation” and the theory of “Kunkel’s Theory (Emphasis on Entrepreneurial Supply)”.
“Schumpeter’s Theory of Innovation”
At the beginning of the study, it is evidenced that entrepreneurship mostly depends on the innovative aspects of ideas within an individual that at the same time caters to satisfy the mass all over the world. In this theory, as an experiment, the theorists takes up the “capitalist closed economy” which is believed to be in a “stationary equilibrium”. The state of “stationary equilibrium” seems to be disrupted by the innovative notions of the entrepreneurs thereby leading to the generation of revenues that significantly provides a new level of development. The aspects of “innovation” consequently help in the rapid development of the economy within the country as innovation tends to break the “normal circular flow” (Głodowska, 2019).
The aspects of “innovation” can be done on a variety of levels as innovation constitutes a number of factors, such as by newly combining the factors for production. This can also be done by improving the products and services that are innovative in nature with that of better quality (Guillermo Jesus, 2018). Generation of a new market, management innovations, and the inclusion of innovative models in the production process can lead to the economic development of the company.
“Kunkel’s Theory (Emphasis on Entrepreneurial Supply)”
In this, the theorists have given enough importance to the aspects of the supply of the entrepreneurs. The aspects of supply depend on the factors like that of “Functional relationship” within the “political”, “social” and “economic structure” of the country (Hayduk, Ted, 2019). The existing structure consists of the following. “Demand structure” that emphasises the demand situation as based on the contribution of the entrepreneurs; they seem to expect rewards from the contributors. And this demand can be increased by rewarding them for their significant activities. “Limitation structure” is concerned about limiting certain activities within the society where the entrepreneurs seem to enlarge the structure. “Opportunity structure” signifies the supply of capital, labour, skills, techniques related to the production and all these influences the supply of the entrepreneurs within an economy. Finally “Labour structure” emphasises the availability of willing labourers who are also skilled in nature. Mobility, rate of employment, work culture influences the supply of entrepreneurs (Ibehet al. 2019).
5. Entrepreneurial behaviour to improve competitive advantage
In establishing a business on foreign land it is quite important to gear up the “competitive approach” of the company in order to generate revenues. The aspect of “Entrepreneurial behaviour” is one of the important aspects that can be improved by the proper acknowledgement of the “identification of needs” and also “the requirement of the employees”. The entrepreneurs also need to have certain prime traits that help in gaining competitive advantages over the other companies in the foreign land. The entrepreneurs need to inbuilt an attitude of “risk and failure” and have to set an “optimistic mindset” (Jafari-Sadeghiet al. 2020). In case an entrepreneur is effective enough to identify and fulfil customer requirements of a particular area or culture then it is highly beneficial for that particular company to earn more profit.
This will help the business to fight against and to maintain a stable relationship within the adverse conditions. As per Martin and Rajshekhar, (2018), the entrepreneurs also need to grow certain skills, behaviours and competencies that will help the significant growth and development of the business and as well contribute to positive factors that promote the growth of the economy. The entrepreneurs should have other aspects such as “relationship management” among all the variables, “management of self”, “building up of bonds”, “increasing the efficiency”, “awareness of the emotions”, “pros deem competence” and “traits of entrepreneurial”.In case an entrepreneur has all these qualities then it has a possibility to improve its business performance by earning huge profit from its business.
6. Conclusion
Catering to the aspect of International Entrepreneurship, various notions are focussed on with the implementation of the theories that will increase the rate of supply of entrepreneurs within the society leading to the growth of the economy.The study focuses on “Technology Entrepreneurship” and its importance in the successful establishment of a business within the nation and outside. Significant factors are also mentioned that immensely affect the behaviour and attitude of the entrepreneurs. “Schumpeter’s Theory of Innovation” and the theory of “Kunkel’s Theory (Emphasis on Entrepreneurial Supply)” are explored that will help in the gradual improvement of the economy thereby expanding the business of the entrepreneur. Issues related to International Entrepreneurship are also discussed that will help in eliminating the negative aspects that lead to hinder the business. The aspects of improvement are also explored to make rapid improvement in the business over the competitors leading to create an advantage.
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