...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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...Emerging Economies and Globalization Argosy University Module 5: Assignment 1 LASA 2 BUS6512 Jerome Bates June 4, 2015 Table of Contents Abstract……..………………………………………………………………………………p.3 General Electric Health (History)..…………………………………………………………p.4 Theories Behind the GE Healthcare Move…………………………………………………p.4 International Product Lifecycle.…………………………………………………………....p.5 Comparative Advantage……………………………………………………………………p.6 Possible Pitfall of the Strategy……………………………………………………………..p.8 Solutions to Pitfalls…………………………………………………………………………p.9 HR Strategy in India………………………………………………………………………..p.9 HR Strategy in China……………………………………………………………………….p.10 Training Design (India,China)………………………………………………………………p.10 Conclusion…………………………………………………………………………………..p.11 References………………………………………………………………..…………………p.12 Abstract Untapped markets are not always available, but are out there; the question is, how do you find those markets? How do you tap the untapped? How do you find untapped markets with the proliferation of growth in economies, societies and markets within a world that is becoming a market without defined borders? As companies continue to grow and trade also expands, it now is crucial that MNC’s looking to expand their business, look for growth in a global lens sense. In this essay, the discussion will be just that. How MNC’s can reach untapped markets and expand the growth of their business, most notably, General Electric Health. This has been made possible due to the continuous...
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...a result of the WTO reaching a period of impasse. Moreover, new rising powers such as Brazil, China, and India must maintain a careful balance as they negotiate their way to the top (Narlikar, 2010). This analysis seeks to answer the following question: will rising powers integrate into today’s world trade order? This analysis will begin by discussing how the emergence of the developing world within the WTO has affected the institution, followed by a discussion on the resistance shown by developed nations in welcoming emerging economies into the international arena. The emergence of developing economies has had positive and negative impacts on the effectiveness of the WTO. The positive impact, as Narlikar explains, is the WTOs ability to distribute power on a more equal scale to its members. Conversely, a multipolar system with several leading positions is one of the primary reasons why the Doha Round is currently in deadlock. By including emerging economies - namely, Brazil, India, and China - in core decision-making processes, we see a greater diversification of ideas. We are also provided with insight on countries that are in different stages of development that have their own distinctive negotiating cultures. These negotiating cultures can present a roadblock, hindering the WTO’s efficiency. Even if the WTO were to implement institutional mechanisms to help overcome the current impasse with the Doha Round, we would still observe no change. In other words, rising powers...
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...Ibrahim Masmoum Business Development in Emerging Economies 11 April 2014 A) In your opinion – What is the future of Emerging Economies? It seems almost impossible to deny that the emerging economies have a big future. In the last two decades, many developing countries have experienced economic growth and have come over many challenges such as social, political and technological. The economic growth is changing the outlook of those emerging markets. The future of developing countries is very promising and likely to bring large-scale developments and improvements for those emerging economies. Emerging economies are growing at a high rate, which is giving them an economic importance as their share of the world total GDP is still growing (IMF, 2014). However, many factors are challenging the rapid growth of emerging markets. In fact, in some countries such as Turkey and Brazil, it’s proving difficult to achieve a sustainable growth due to political risks. In terms of opportunities, emerging markets are the most promising because they are very rich in human resources (China and India) and natural resources (oil in Middle east and energy in Russia). The financial crisis in 2008-2009 has given the emerging markets more confidence to take the lead on the international level. In my opinion, the opportunities for emerging economies are big because they are experiencing a lot of social and political developments and on the long-term nations like China, India, Russia and Brazil...
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...Introduction As emerging economies experience growth, they are encountering new challenges in making economic development equitable and sustainable. Increasingly, bringing all parts of society up to minimum standards of living is becoming an issue of social responsibility and political requirement in emerging economies through social security programs. However, emerging economies are facing many constraints in implementing widespread social security programs to affect equality, poverty alleviation, and income security. When considering Social Security for emerging economies, there are two central issues that must be addressed; can emerging economies sustain viable social security systems, and is social security vital to the development of emerging economies. To understand these issues, and possible solutions, it is useful to look towards the established models found in Europe for answers. Social Security To analyze the issue at hand, we must first understand the definition of social security, as the benefits offered by the State and society differ from country to country. For example, Social Security is a narrowly defined program in the United States, which offers supplemental income to those of retirement age at 65 and older. However, in Europe, social security encompasses a slate of programs that provide cash transfers and benefits for the aged, unemployed, ill, and poor. These programs are often manifested in the form of pensions, unemployment benefits, and in many...
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...Marketing in Emerging Market Economies: Why there is a need to reformulate marketing tactics used in emerging markets. Emerging Markets – An overview Emerging market economies are those economies which exhibit high growth and investment potential. Emerging economies are generally found in East and South Asia, Eastern Europe, South Africa, Latin America and Middle East. These economies are characterized by improving standard of living, other than that they have large growing middle class population who have high aspirations and ambitions for the future. All these characteristics make these economies attractive destinations for exporting goods, investment and outsourcing. Emerging economies of the world possess several advantages which have led to their rise. The major advantages that have been observed in these economies are availability of cheap labour force and highly qualified work force which have made these economies challengers in the global market. Another major characteristic of these economies is that their growth rates are much higher than the developed countries of the world. The new international challengers are the top firms operating in these emerging economies who have now become key contenders of the world market. A very good example of the above discussion is Orascom Telecom - which is an Egyptian telecom provider who on the basis of managerial capabilities and superior technology has become one of the major telecommunication provider in Africa...
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...www.sciedu.ca/rwe Research in World Economy Vol. 2, No. 2; October 2011 An Analysis of Emerging China’s Economy and its Influence on World Economy Zhijun Sheng (Corresponding author) School of Economics and Management, Changchun University of Science and Technology Changchun 130022, China Tel: +86-135-0445-7191 Email: shengzhijun412@126.com Jing Ma School of Economics and Management, Changchun University of Science and Technology Changchun 130022, China Email: majingdoll@hotmail.com Received: July 22, 2011 Accepted: August 21, 2011 doi:10.5430/rwe.v2n2p21 Abstract Since entering 21st century, the Chinese economy has obtained unprecedented development opportunity, growing rapidly. We emphatically analyze the remarkable performance and the immense changes of the Chinese economy in economic output, foreign trade, foreign investment and enterprise strength, etc. Finally, we point out the reality and potential influence and contribution of emerging China on world economy. Keywords: China’s Economy, Emerging Market, World Economy At the end of 2010, China’s Social Science Institute issued “World economy Yellow Paper” and “International Situation Yellow Paper”, which pointed out China has become the second biggest economy in the world, and has been in the leading position on many aspect. For instance, China ranks second on multinational merger and acquisition and surpasses UK, France and Germany to become the International Monetary Fund's third...
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...UNIVERSIDAD METROPOLITANA CÁTEDRA: MACROECONOMÍA II LA BALANZA DE PAGOS Y LAS CONDICIONES PARTICULARES DE LA VENEZOLANA Caracas 22 de junio de 2009 En la mayoría de los casos, las condiciones económicas de una nación dependen mucho de lo que esté sucediendo con la economía mundial. Ésta se plasma en el Comercio Internacional, la Producción Global y las Finanzas Internacionales. A pesar que todas estas fuerzas atan sus economías con una economía mundial, el resultado no es siempre uniforme. Esto se puede comprobar al ver como el crecimiento económico de los países es bastante desigual, ya que algunos crecen rápidamente mientras que otros se vuelven más pobres. El manejo de lo que ocurre con las finanzas internacionales es básico, pues permite dilucidar la forma en que los sucesos internacionales afectarán a una empresa o nación y de esa manera tomar acciones para aprovechar las oportunidades y evitar lo dañino. Podemos nombrar algunos de los sucesos que afectan, como lo son las variaciones en los tipos cambiarios, tasas de interés, tasas inflacionarias y en valores de activos, que a su vez todos afectan de forma categórica la balanza de pagos. A través de este trabajo, se espera dar a conocer lo que es la balanza de pagos, su influencia en la economía venezolana. La balanza de pagos se puede definir como la relación entre la cantidad de dinero que un país gasta en el extranjero y la cantidad que ingresa de otras naciones. El concepto de balanza de pagos...
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...Course Project India an Emerging Economy What proves that India is an emerging country? How did it reach this stage? What is the most active section that helps the emergence of India? Why is India going to dominate the economy? To an outsider, India might look like an entrepreneur’s nightmare, a country with over a billion people riven by paradoxes. The distribution system can be inadequate, the legal system can be intimidating, government often fails to deliver basic services and poverty is a pervasive issue that seems impossible to go away. Nevertheless, India is the perfect example of an emerging economy. Those are tough market conditions, but through innovation in the business sector first steps were made and had served to the up rise of the nation’s economy. As a member of the BRICs, i.e. Brazil, Russia, India and China, it experienced steady growth over the last decade and is now one of the major world economies. It started as a periphery country with little to no prospects and has risen up to be a semi-periphery, and maybe one day might become a core country. A core country is seen as a region were most of the positive characteristics of globalization typically occur: transnational links, modern development (i.e. higher wages, access to healthcare, adequate food/water/shelter), scientific innovation, and increasing economic prosperity. These countries also tend to be highly industrialized and have a rapidly-growing service (tertiary) sector. Generally speaking...
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...“WHAT IS THE RELATIONSHIP BETWEEN DIVERSIFICATION AND PERFORMANCE, PARTICULARLY IN EMERGING ECONOMIES? WHAT ARE THE FACTORS WHICH ARE RELEVANT FOR SETTING THE CONTENTS OF THAT RELATIONSHIP?” By João de Almeida Frazão Caro de Sousa Master Thesis Submitted to ESADE Business School in fulfilment of the requirements for the Degree of Master of Science in International Management ESADE Business School May 2012 Master of Science in International Management – ESADE Business School i Master of Science in International Management – ESADE Business School Table of Contents Introduction ..................................................................................................................................... 1 Theoretical Background 1. Diversification ......................................................................................................................... 5 1.1 General Observations ........................................................................................................ 6 1.2 Different types of diversification strategies....................................................................... 7 1.3 The costs and benefits of diversification ........................................................................... 8 1.4 Diversification Trends ....................................................................................................... 9 A. The Lack of Significant Relationship ................................
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...What is the contribution of government policy at the broad macro level and at the sector level in Samsung’s technological learning? By the 1980s, Korean government had made it clear through a “pre-announcement system” that quantitative control and tariff cutting would be eliminated. Firms were thus given time to prepare and to adjust production systems for efficiency Protection and subsidies were not without a prize. The State imposed performance standards by which export performance was the “ultimate criterion of performance for the contest”, Lee (1997). Export criterion was in fact the key determinant of the relationship between the state and the enterprises. In other words, protection did not translate to complacency but was used to facilitate maturation and the attainment of international competitiveness. Still, the government of South Korea has had and continues to have a strong influence on business development in the nation. Beginning in the 1960s the government of South Korea began to formulate an industrial policy by which it established target industries and even target companies. These target industries and companies received special aid from the government to help nurture their growth. Under both Presidents Park Chung Hee and Chun Doo-Hwan, five-year plans were established to ensure the economic well-being of these companies through subsidies, tax relief, and protective tariffs. These policies contributed in part to the subsequent success of the Korean giant...
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...Emerging Market Economy: Mexico Introduction The success of any business will be greatly determined by the environment in which the operations are carried out. The legal, political and economic conditions of a given country are some of these determining factors, especially for emerging markets (Lassar, Haar, Montalvo and Hulser 135). Consequently, the management of any multinational corporation that intends to expand its operations into a given country must have an understanding of the economic and political factors in the country. While there are countries that have undergone industrialization and have developed markets, there are those that have not attained that state, but can be considered as emerging market economies. Mexico is one of these emerging markets given the economic stability that has been recorded since the late 1990s (Heyman 31). Mexico is a federal constitutional democracy in the continent of North America. The country contains thirty-one states and the federal district that houses the national government offices. The office of the president is currently held by Enrique Pena Nieto who came into power on December 1, 2012 as the 57th president. The country was colonized by Spain and gained her independence on September 27, 1821 after eleven years of war for independence. The Mexicans had affirmed themselves sovereign towards the end of 1810. This colonization made Spanish the most spoken language in the country and still remains at the top. Political...
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...Individual Assignment 4 - HRD Human Resource Development of professionals in an emerging economy You are an expatriate sent by SAP to one of the major construction companies in Tanzania. You have Debrah/Oforis article and USD 1 Mio to set up an “ideal” HRD-program for this company that should facilitate as a prime example in the whole industry. Draft your concept! Be as concrete as possible and mind your line of argumentation. It is usually the professional bodies that provide appropriate training and education to their members, which, however, mostly results in compartmentalisation, a very common and well-known problem in Tanzania and other developing countries. Therefore it may be more reasonable to rather establish systematic and coordinated training programs and a unified approach for each industry. Such a development of employees would ensure their ability to perform successfully in an international setting, enhance their productivity as well as competitiveness. Formerly, the Tanzanian government was expected to provide training and facilities. However in recent years the role of the private sector for financing and providing such training has more and more been acknowledged, since the sustainability of funding and with that the guarantee of a structured and continued training is essential and one of the biggest problems faced in HRD. Therefore it may be necessary to complement external funding with the development of domestic funding in order to secure and ensure...
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...Question 1: Considering both economic and ethical aspects, is it appropriate for companies like Novo Nordisk to conduct clinical trials in, for example, India, and if so under what conditions? What exactly are the principles that should guide such a decision? 1. Ethical aspect. Nordisk’s implementation of clinical trials in India is appropriate. The appropriateness is expressed through the following guidelines: • Novo Nordisk’s trials seriously comply with medical ethics (Hippocrates’s oath) through its particular attention to individual patients joining any of its trials. • Novo Nordisk has applied all the guidelines and global recommendations from specialized agencies and has adopted its policies on clinical trials. Accordingly: o Clinical trials sponsored by the company always comply with Helsinki Declaration, listing the rights of patients enrolled in clinical trials, and the global ethical principles like Nuremberd rules, and Belmont report, CIOMMS and the principles of the International Conference of Harmonization on Current Clinical Practice (CGCP) o Countries where Novo Nordisk conducts trials will be ensured to have a proper internal organization and proper legal environment. o No testing activities are conducted before permitted by the ethics review board and the health authorities. o The safety information of Novo Nordisk’s trials will be continuously monitored and appropriate actions will be taken if risks of the tried medicine outweigh the benefits it brings...
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...Emerging Market Mutual Fund Performance and the State of the Economy∗ Ayelen Banegas November 2010 Abstract Following the financial liberalization of many Asian, European, and Latin American countries emerging markets have become a central player in the global economy. As a result the universe of equity funds investing in these developing economies has been in continuous expansion. In this paper we propose a set of asset class specific predictive variables for emerging markets and exploit them in order to identify those funds that outperform the market in different phases of the economic cycle. We employ a comprehensive survivorship-bias free universe of global and regional emerging market funds and use a Bayesian framework that incorporates predictability in manager skills (stock selection and benchmark timing skills), fund risk loadings and benchmark returns by exploiting ex-ante business cycle related state variables. Our results provide empirical evidence of return predictability and the economic value of active management in emerging markets. ∗ I would like to thank Allan Timmermann for his guidance and support. I am also grateful to James Hamilton, Bruce N. Lehmann, Ross Valkanov and Debbie Watkins for their helpful comments. I also benefited from discussions with Ben Gillen. Finally, I want to thank Russ Wermers for providing me with the mutual fund dataset. 1 1 Introduction During the last decades the mutual fund industry has been continuously...
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