Strategic Alliance vs Joint Ventures The differences between strategic alliances and joint ventures are as follows: Strategic Alliance Joint Venture It’s a partnership where companies work together but keep their independence. It’s a partnership where companies create a new business together. Each company stays in control of its own operations. Companies share control of the … Read more
Strategies for Global Business Expansion Expanding a business globally requires careful planning and strategic approaches to ensure success. There are various ways an entrepreneur can enter into the international market. The following key strategies help businesses grow in international markets: 1. Exporting: Exporting means selling products and services to customers in foreign countries without setting … Read more
Factors Motivating Entrepreneurs to Go Global An entrepreneur is an individual who creates a new business venture by bearing a certain level of risk to earn profit and wealth. Entrepreneurs expand their businesses globally for various reasons, including growth opportunities and competitive advantages. The key factors that motivate entrepreneurs to go global are: 1. Market … Read more
Product Planning and Development Process Product planning and development is the process through which a business creates a new product or improves an existing one. It involves several stages to ensure the product meets customer needs and is ready for the market. The stages of product planning and development are as follows: 1. Idea Stage: … Read more
E-Commerce Benefits and Challenges E-commerce refers to buying and selling goods and services over the Internet. It has become a vital part of modern business, allowing companies to reach a global audience. The benefits of E-commerce are as follows: 1. Global Reach: E-commerce allows businesses to sell to people all over the world, not just … Read more
The Creative Process Creativity is the ability to develop new ideas and to discover new ways of looking at problems & opportunities. It is the process of thinking something new. The creative process is something that can be developed and improved over time, as everyone has the potential to enhance their creative skills through practice. … Read more
Types of Entrepreneurs An entrepreneur is a person who starts a new business venture bearing certain risk to earn the profit. They recognize viable business ideas and carry them out. Any person at any age who starts and operates the business is an entrepreneur. The different types of entrepreneurs are: 1. Social Entrepreneur: A social … Read more
Entrepreneurial vs Managerial Decision Making The differences between entrepreneurial decision-making and managerial decision-making are as follows: Entrepreneurial Decision Making Managerial Decision Making It makes new rules and processes. It follows the existing rules and procedures. This approach is based on innovation and growth. This approach is based on efficiency and stability. The decision-making process is … Read more
Intrapreneurship vs Entrepreneurship The differences between intrapreneurship and entrepreneurship are as follows: Intrapreneurship Entrepreneurship They work within a company. They start their own business. They use company resources. They use personal or external funding. They take lower risks rather than the company bears losses. They take higher risks and may face personal losses. They follow … Read more
Question: “More emphasis should be placed on the external supply of employees meeting future needs because these employees bring new blood into the organization. The result is more innovative and creative ideas.” Do you agree or disagree with this statement? Explain your response. I partly agree with the statement. I think that external hiring is … Read more