...1042-2587 © 2008 by Baylor University E T&P Entrepreneurship in Emerging Economies: Where Are We Today and Where Should the Research Go in the Future Garry D. Bruton David Ahlstrom Krzysztof Obloj Emerging economies are characterized by an increasing market orientation and an expanding economic foundation. The success of many of these economies is such that they are rapidly becoming major economic forces in the world. Entrepreneurship plays a key role in this economic development. Yet to date, little is known about entrepreneurship in emerging economies. This introductory article to the special issue on entrepreneurship in emerging economies examines the literature that exists to date in this important domain. It then reviews the research that was generated as part of this special issue on this topic. The article concludes with a discussion of the critical future research needs in this area. Introduction The quantity and quality of entrepreneurship research has increased dramatically over the last 15 years. Today, entrepreneurship research is some of the most widely cited in the management discipline, with leading journals dedicated to its study and well-recognized conferences supporting its development. The methods employed and the theory foundations used in entrepreneurship today are consistent with mainstream management research. However, entrepreneurship research can still be critiqued as almost exclusively focused on North American and European research sites...
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...Journal of Business Venturing 27 (2012) 266–290 Contents lists available at SciVerse ScienceDirect Journal of Business Venturing International entrepreneurship research in emerging economies: A critical review and research agenda Andreea N. Kiss a,⁎, Wade M. Danis b, 1, S. Tamer Cavusgil c, 2 a b c Global Economics and Management Department Faculty of Economics and Business University of Groningen, 800 Postbus, 9700 AV Groningen, The Netherlands Peter B. Gustavson School of Business, University of Victoria, P.O. BOX 1700 STN CSC, Victoria, BC Canada V8W 2Y2 J. Mack Robinson College of Business, Institute of International Business, Georgia State University, P.O. Box 3989, Atlanta, GA 30303-3989, USA a r t i c l e i n f o a b s t r a c t This article systematically reviews and critically examines international entrepreneurship research in emerging economies (IEEE research), and articulates its importance, timeliness and relevance in consideration of the growing influence of emerging markets in the global economy. A systematic analysis of eighty-eight journal articles published over the last two decades reveals that IEEE research is a vibrant and rapidly growing stream of the broader international entrepreneurship (IE) domain, and that it is methodologically and topically diverse. Our review also shows that IEEE research has a limited presence in premier journals, is highly skewed in its geographic coverage, and is somewhat fragmented. We therefore inventory...
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...Emerging Markets Perspectives - CEO Insights Emerging Markets Perspectives - CEO Insights 1 Convergence & Differentiation What is success in a connected world?* Methodology This report was developed to provide a unique perspective from which to view the successes of companies based in emerging markets. While there are many reports providing valuable insights on how multinationals can expand into emerging markets, very few take a systematic approach towards looking at how emerging-market companies have not only fended off developed-world multinationals, but also found their own ways to expand into foreign markets. In addition to drawing on the insights of PricewaterhouseCoopers partners and associates from every market, we relied on two additional sources: 1. The 11th Annual PwC Global CEO Survey: The authoritative analysis of CEO views on business opportunities and risks of operating in an increasingly connected world. PricewaterhouseCoopers has published the survey for more than a decade, reaching out to more than 1,100 chief executive officers worldwide. The 11th Annual Global CEO Survey was launched in January 2008 at the World Economic Forum’s annual meeting in Davos. The survey data were re-analysed for this report at the country level as well as by contrasting insights from developed versus emerging markets. For the purposes of this report, we define “developed nations” to include 19 economies, including the United States and Canada, 15 in Western Europe, Japan...
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...and strategist Dr. Vladimir Kvint, an emerging market is “a country whose society in transition from a dictatorial form of government to a free market economy, increasing economic freedom, gradual integration into the world market, an expanding middle class, improving living standards, social stability and deepening cooperation with multi-institutions ". Furthermore, In 2008 Emerging Economy Report, the Center for Knowledge Societies defines Emerging Economies as those "regions of the world that are experiencing rapid informationalization under conditions of limited or partial industrialization." The notion of the author/ in simple terms with regards to emerging markets is that it is a particular economy which stands ahead of developing economies with more attractive economic and political conditions and institutional framework leading to potential business opportunities. According to Brandes (2014), “Emerging markets are no longer the uncharted markets they were in the past—they are advancing economies with growth opportunities and continually improving economic and political conditions”. The trend of emerging markets up surged from late 1990’s when 73% of developing countries outpaced America. The most impressive growth was reported in four biggest emerging economies; namely, Brazil, Russia, India and China which were abbreviated to BRICs in 2001. http://www.economist.com/news/briefing/21582257-most-dramatic-and-disruptive-period-emerging-market-growth-world-has-ever-seen ...
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...2013-15(IIIrd trim) Submitted By: Ankur Chauhan Roll No: 09 PGDM IB 2013-15(IIIrd trim) GUIDE: Dr. POONAM CHAUHAN GUIDE: Dr. POONAM CHAUHAN International Marketing Strategy in Automobile Sector in Emerging market International Marketing Strategy in Automobile Sector in Emerging market Research Paper Research Paper Abstract Globalization has not only opened up new avenues for MNEs, but has also benefitted the emerging nations who have adapted to it. It has formed the basis of growth and development for most emerging nations of course other factors too are relevant). This research paper seeks to examine the international marketing strategies of MNEs in the automobile industry, specifically for the emerging nations, because as our subsequent findings will prove, that these markets are currently the most promising and will remain so at least for a few years to come. When we consider the emerging nations, the most promising ones are obviously the BRICs (reasons covered in the following sections). Hence, for readability and convenience purposes, we have limited our research to these nations. Keywords: Marketing strategy, BRIC, TRIAD, MNE, emerging markets, JV Objectives of Study: 1) International Marketing strategies followed by automotive companies in Emerging markets. 2) The study also aims at understanding whether the marketing strategy of these global automotive companies are justified by analysing its impact on the key statistically significant...
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...Analysis of the emerging market in China Introduction Nowadays, with the financial crisis sweeping the globe, the emerging market is to be concerned by more and more countries. China as one of BRICs country has an impact on economic, trade and political in the world. This paper will talk about the emerging market--China from some economic factors, social factors and political factors, also analysis why China play an important role in the world. And what is the relationship between China and the international environment? Global overview and introduction to China When China awakes, it will shake the world. -- Napoleon Bonaparte The people's republic of China (PRC) which located in east Asia continent, and on the western shore of Pacific Ocean, which is the third largest country with 9,596,960 square kilometres. With the vast land, the land boundary of some 22.800 kilometers also have many neighbor such as Russia, North Korea, Vietnam, Laos, Pakistan, Afghanistan, Nepal, Tajikistan, Mongolia. At the same time, the mainland coastline measures about 18,000 kilometers with a flat topography, and there are many excellent docks and harbours, most of them are ice-free all year round (Jinyan, 2005). Most place of China all belong to the north temperature zone. Clear for seasons which suit for people to habitat. In addition as a big country with a vast territory, the nature...
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...Role of Entrepreneurial Class in Economic Development of LDCs The Role of Entrepreneurial Class in Economic Development of LDCs Table of Contents Page Abstract……………………………………………………………………………………………………………..2 I. Introduction…………………………………………………………………………………………….3 Statement of Problem……………………………………………………………………………..3 Objectives of study……………………………………………………………………………….…4 Definition of Terms…………………………………………………………………………….……4 Limitations………………………………………………………………………………………….……5 II. Literature Review…………………………………………………………….....5 III. Methodology…………………………………………………………………......6 IV. Results and Analysis……………………………………………………………..9 V. Summary and Conclusions……………………………………………………..12 Summary………………………………………………………………………………………………….12 Conclusions………………………………………………………………………………………………13 Recommendations……………………………………………………………………………………14 References……………………………………………………………………………………………….15 Abstract The uncertain global economic recovery and the worsening Eurozone crisis continue to undermine those factors that enabled the least developed countries (LDCs) as a group to attain higher growth rates between 2002 and 2008. Despite seeing real gross domestic product (GDP) grow slightly faster in 2010, the group as a whole performed less favorably in 2011, signaling challenges ahead. LDCs have been most affected by financial crises caused by other countries. With less diversified economies, LDCs have neither the reserves nor the resources...
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...Marketing | | | | | | | | | | | | | MASTER OF INTERNATIONAL BUSINESS (MIB) INVESTMENTS IN EMERGING MARKET Question : Critically describe corporate social responsibility in the context of emerging economies INTRODUTION Definition of the Key Terms Emerging economy: These are rapidly growing and volatile economies of certain Asian and Latin American countries. They promise huge potential for growth but also pose significant political, monetary, and social risks. There are varying ways to define an emerging economy and are fairly standard definition is a country with income per head of population of $ 9,265 or less. Countries big and small can fall within this definition. For example, China, Mexico, Egypt and India is regarded as an economic power house, yet income per head of population is still low, so as an emerging economy it sits alongside much smaller economies such as Tunisia. These are typically economies in transition, moving from a closed to an open economy, as they seek to integrate into the world economy. But this wont necessary be a one way journey, and political or economic turmoil can send them back into their shells, possibly resulting in Sbigger the risk the greater the potential. Corporate Social Responsibility: Is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the work-force and their families as well...
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...Lena Cavusoglu J. Mack Robinson College of Business, Georgia State University Master in International Business IB 8090 - International Business Environment Essay Exam # 1 Email: lcavusoglu1@student.gsu.edu 1. GDP per capita as an indicator: What are the limitations of this statistic in the context of emerging markets? GDP per capita is often used as an approximation of a country's prosperity. However, this approximation excludes significant factors such as the distribution of income, home production, underground economy, and social cost of production, in making a decision on the well-being of a country's inhabitants. First, emerging markets generally have an unbalanced distribution of income. There may be significant gaps in income between various groups of the society. In such markets, GDP per capita is a misleading indicator of the economic situation because a wealthy minority may hold a large share of GDP. GDP per capita might underestimate the fraction of society who has an income below the poverty threshold. Furthermore, the inequality in income distribution gives rise to a higher rate of increase in underground economy, which may make up a large fraction of GDP generated in a country. Consequently, many places have a higher GDP than what is reported. Second, there is a large domestic production in developing countries such as Turkey, which is not calculated in GDP since these products are not sold on the market. Homegrown vegetables and knit clothing are examples...
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...SPECIAL REPORT ON EMERGING MARKETS www.dreamgains.com White Paper Special Report On Emerging Markets ABSTRACT This paper examines the four emerging economies- Brazil, India, Russia and China (BRIC) - that are expected to play an increasingly important role in the global economy in the coming decades. These four countries have come to symbolize the exciting challenges and opportunities presented by dynamic emerging markets. The first part of the report outlines key features of these economies and their growing contribution to world output and trade. The second part analyses the contribution of India towards the same. By 2050, the BRIC economies will account for 44% of global GDP. The emerging market accounts for an increasing share of global activity. Two centuries of vigorous industrialization has propelled economies of North America, Western Europe and Japan into a dominant position in terms of their share of world output. But the past three decades have seen steady erosion from the peak they attained during the 1970. The emerging economies now account for over half of world output. These dynamic economies are changing the world economic order as they industrialize, improve their infrastructure and rapidly develop their service sectors. By 2050, they will account for almost 78% of global output. This projection uses realistic assumptions of annual growth rates of 5.3% to 2050, well below those posted in recent decades by the economies of developing Asia at over...
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...Assignment on “Meet the BRIC” Case Study | ITB 301Section: 3Spring 2012Submitted to:Salma AkterLecturerDepartment of Business Administration.East West University, Dhaka.Submitted byArafat Rauf2009-2-10-345Date of Submission: 28th March 2012 | Letter of Transmittal March 28, 2012 Salma Akter, Senior lecturer East West University Subject: Submission of Assignment on “Meet the BRIC” case study Dear Madam, I have prepared an Assignment on “Meet the BRIC” case study. It was an energizing experience throughout the semester and preparing this assignment further enhanced my insight about International Business. I hope that this report fulfils your requirements and your feedback is very much necessary to overcome my faults and lacking. This will help me in my entire life. It is my pleasure to carry out this assignment under your supervision. I would like to request you to accept my report for further assessment and I will be available to answer any question for clarification. Thank you for your sincere support. Yours sincerely, Arafat Rauf 2009-2-10-345 Table of contents Title | Page number | - BRIC | 4 | Economic growth of BRIC | 7 | Question 1: Map the proposed sequence of the evolution of the economy of the BRIC’s. What indicators might companies monitor to guide their investments and organize their local market operations? | 8 | Question 2: What are the implications of the emergence of the BRICs for careers and companies in your country? | 8...
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...such a low standard of living will result in low purchasing power, which is a negative element that prohibits economic development. High inflation, deficient institutions and closeness in India are all the issues for the deterioration in India's competitiveness. Secondly, immature infrastructure, especially transportation and electricity, hinders for the economic development in India. Thirdly, India has the lowest increasing rate of PPP in recent years among BRICs. India’s fiscal situation remains in trouble, and with the exception of 2007, India government has consistently run deficits since 2000. Moreover, the decline in business sophistication, financial market development, and goods market efficiency, stifling business regulation, weak foreign investment and a widening trade deficit lead to a weak business environment in India. Fourthly, low income workforce suffers from issues in education and healthcare, because low productivity of agruculture in India represents 18% output but nearly half employees. People still lack higher education and training, consequently, short of talents with high skills restricts the development and innovation of the country. 2. How does this deterioration affect the attractiveness for investment in the Indian economy and development of Indian firms? The attractiveness for investment in the Indian economy and development of Indian firms...
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...initiate maintain or organize profit oriented business unit. This is for the production and distribution of economic goods and services and exploiting newfound opportunities. Productive entrepreneurship and creativity combine these inputs into profitable ways. An institution that encourages free entrepreneurship becomes the ultimate determinants of economic growth of a nation. Economic development involves a sustained and concerted action by the community and policy makers to promote the standards of living and economic health of a nation. Some of the actions undertaken involve the development of critical infrastructure, environmental sustainability, social inclusion, and even regional competitiveness to achieve the economic development. Literature review of entrepreneurship and economic development: The industrial economy in the post-world war two periods led to competition among geographical areas to provide tax to attract industrial companies. In the 1990s, the old managerial and industrial economy was replaced by the knowledge and entrepreneurial economy. The rise of companies such as apple, Microsoft and Google exemplified entrepreneurial creation of wealth at the end of twentieth century(Phillips, 2011).The second decade of twenty first century begins virtually with all countries in the world implementing actively the promotion of economic development at state region, regional and national level. What made economic development to be on the focus in the past two decades of...
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...both the fastest growing and largest emerging market economies. The countries of Brazil, Russia, India and China are becoming ever larger forces in the world economy. They account for almost three billion people, or just under half of the total population of the world. In recent times, they have also contributed to the majority of the world GDP growth. For some time their growth rates have been faster than those experienced in the western economies, and they have been able to withstand the recent economic crisis with greater resilience (Geoff, 2010). According to various economists’ projections, it is only a matter of time before China becomes the biggest economy in the world. China is expanding its reach all over the world. For instance, they are making in-road into most African countries which use to be a reserve place for the west, thereby stopping the monopoly that the western economies had in this part of the world. Most African nations with their leaders prefer to do business with China because of their poor ethical standard and the wiliness to do anything just to win the hearts of these leaders who are less concerned about the well-being of their people. In fact, Goldman Sachs believes that by 2050 these BRICs countries will be the most important economies in the world thereby relegating the US to fifth place (EconomyWatch, 2010). By 2020, economists’ project that all of the BRIC countries should be in the top 10 largest economies of the world. Manufacturers and service...
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...Emerging Issues in the Tourism Industry (In case of Switzerland) Introduction According to the World Economic Forum's annual Travel & Tourism Competitiveness Report which was released at the Global Tourism Forum (GTF) in Andorra; Switzerland and some other countries were considered as the most beautiful environments for developing the tourism and travel industries. Tourism always plays a vital role in the economy of any country and it plays the same role in Switzerland. But, it has been struck by the economic condition in Switzerland, because of the world economic recession. Tourists come to Switzerland because of its natural beauty, but with the continuing strike in many areas of Switzerland; it results in the improvement of tourism in Switzerland in recent years. Tourism Growth "Our report measures different factors that make it beautiful to make the tourism and travel industry of one country," said Jennifer Blanke, Lead Director and Economist of the World Economic Forum's Centre for Global Performance and Competitiveness. "The top rankings countries Switzerland, France, Germany and Austria show the significance of regulatory frameworks and supportive business, matched with world-class tourism and transport infrastructure, and a focus on rising natural and human resources for increasing an environment that is beautiful for making the tourism and travel sector." This analysis of the cross-country of the drivers of competitiveness in tourism and travel offers helpful...
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