By Henry Kressel
Marketers have lengthy been drivers of innovation in constructed international locations. they begin businesses and create new industries that preserve economies robust and wealthy. this day, although, in constructing countries resembling China, state-controlled economies are development powerful industries at lovely pace and siphoning off jobs from the West. How can marketers functionality within the face of this problem? Can they proceed to create fiscal price in a globalized company atmosphere? This publication addresses the an important factor of country making plans vs. unfastened firm and examines particular difficulties surrounding entrepreneurship within the worldwide economic system via 9 case histories of entrepreneurial businesses. It additionally seems to be at how and why executive will get concerned about fiscal progress and the way marketers give a contribution to fiscal worth. according to this research, the authors argue that businesses can be successful, even in managed economies, by means of realizing the customs and rules of nations the place they do enterprise.
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Extra info for Entrepreneurship in the Global Economy: Engine for Economic Growth
It is hard to think of an industry that is not affected by competitors from China or by the promise of sales of its products to China. Hence the importance of China to entrepreneurs with ambitions to become global players. China’s success also encourages other industrializing countries such as Malaysia, India, Brazil, Thailand, and Vietnam to step up their own national initiatives to woo manufacturing sites from the developed countries with subsidies and other incentives. Vietnam’s case is especially interesting.
Successful clusters all exhibit one overriding virtue: they are self-sustaining. Competition and collaboration among local A number of studies of regional innovation clusters have been published under the auspices of the Council on Competitiveness, 1500 K Street, NW, Washington, DC, 20005. org. 16 48 Standing still is not an option organizations in a cluster enables new technologies to reach the market in the form of successful products.
In addition, the authorities are pushing local companies to invest in research and development. 8 percent in 2009. When a new industrial activity needs to be developed to meet a market need, state funds are available and every effort is made to build plants for mass production. 12 The effort is paying off. Some newly created corporations in technology sectors have already become world leaders. For example, Huawei Technologies, established in 1988, is now one of the leading manufacturers of advanced telecommunications and networking equipment, with over $30 billion in annual sales in 2011.
Entrepreneurship in the Global Economy: Engine for Economic Growth by Henry Kressel