Contents
This paper answers the following 3 questions - - 1. Many entrepreneurial SME’s do not follow a planned, strategic approach to the issue of internationalization. Most do so by means of an evolutionary strategy based on a combination of methods and options. Review the various options that can be used, the advantages and disadvantages these options and how the probability of success can be maximized. (50 marks)
- 2. If it were possible to predict the success of a new venture with 100% accuracy, there would be no risk involved in entrepreneurship. In the face of the often, significant risk posed by entrepreneurship, it behoves the entrepreneur to ensure that she or he has committed to a viable idea. With these thoughts in mind address the following questions.
- a. What can an entrepreneur do to discern if a business idea represents a promising opportunity? (15 marks)
- b. Once an entrepreneur has decided to proceed with an idea explain a process that could be used to mitigate risk? (10 marks)
- 3. The OECD suggests that SME’s have a tendency to move to markets that are geographically or psychologically close to them. Address the following two questions
- a. What are the advantages of this approach? (15 marks)
- b. What are challenges that are presented by moving to markets that are geographically or psychologically distant and are these more of an issue for the service or the manufacturing sector? (10 marks)
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