A trait or characteristic that defines the nature and qualities of a good leader is called Entrepreneurship. The quality which makes which makes one a good entrepreneur is the fact he or she might be able to take any event and turn it into something useful and profitable. They should have the power to create or add values for profit of business.
What is the actual definition of Global entrepreneurship?
Global entrepreneurs are those professionals who are responsible for using their global knowledge and connections to identify cross cultural opportunities and transnational opportunities and thus turn them into a new initiative which can create values. The actual meaning of entrepreneurship is to create a new business. But the expertise of global leaders of the global entrepreneurs goes way beyond the creation of business only. In many established companies around the world the process of value creation is a very common thing that happens almost every day. There are many global leaders those who act as intrapreneurs. These intrapreneurs have the opportunities within the organizational context. Also, global entrepreneurs often operates form many nonprofit world and thus helps in establishing social enterprises. Global Entrepreneurship is a very vast topic to learn about hopefully this article will help you.
The three ways of value creation by Global entrepreneurs
- The first way by which these global entrepreneurs create values is by convergence or by tapping between culture and markets. This is a very common practice for those standard brands that promise to diverse cultures. Also there are certain companies that bring applicable and convergent technological methods to diverse communities.
- Also global entrepreneurs can create divergence or tap out between regions just to get access to distinct comparative advantages. There are some products that are designed in Sweden and made in China with the use of African cotton and Polish plywood.
- They also have the power to access the networks and thus create values by building up the platform which will allow global exchange. Lest take an example. There is a Hong Kong based Global source that used standard trading media to facilitate the exchange between the suppliers in Asia and the clients find around the world.
The director of a huge company can be a very good global entrepreneur as they have the context of his or her organization. The effort of this company head or director can make sure that his or her company gets a huge profit even from low cost commodity services and labor. Such activities are a suitable example of tapping divergence or region. A good global entrepreneur should have the ability to create shared platforms and networks that are for high value activities. There should be less focus on cultural difference. The main focus should be placed on forging a shared cooperate culture with the different headquarters of the same company. The key to be a successful entrepreneur is to have a clear understanding of the environment that particular person has to access and they have the skills to create high value activities.