Table of Contents

Emerging Paradigms in International Entrepreneurship

Emerging Paradigms in International Entrepreneurship

The McGill International Entrepreneurship series

Edited by Marian V. Jones and Pavlos Dimitratos

Emerging Paradigms in International Entrepreneurship identifies key themes that collectively demonstrate the convergence of thinking at the interface between the disciplines of international business and entrepreneurship. These are: development of the field and the effects of international entrepreneurship on a new economy; conceptual and paradigmatic developments; international entrepreneurship and the internet as a developing research agenda; contacts links and networks as process driven internationalisation; cross-sectoral, cross-national and cross-cultural comparisons of entrepreneurship; and the experiential emphasis in entrepreneurial internationalisation.

Chapter 1: Back to the Future: International Entrepreneurship in the New Economy

Léo-Paul Dana, Hamid Etemad and Richard W. Wright

Subjects: business and management, entrepreneurship, international business

Extract

Léo-Paul Dana, Hamid Etemad and Richard W. Wright INTRODUCTION Understanding internationalization is no longer an option for business success; it is a prerequisite. Indeed, the success of entrepreneurs today depends largely on their ability to become globally competitive, even if they refrain from competing globally. The question then arises: How can small-scale entrepreneurs – lacking economies of scale – compete against large multinationals? One solution is for small firms to develop relationships with other firms within multi-polar networks. In this scenario, formerly independent enterprises share power and control, and cooperate voluntarily to maximize efficiency and profits. We see this trend developing; entrepreneurs are shedding their traditional focus on independence as they discover interdependence and relationships to be more profitable. The result is symbiotic management, which we define as, ‘a collaborative effort by multiple parties, each of which benefits from the joint effort, such that added value is created’. In contrast to competition by the individual firm, aimed at increasing its market share and profitability at the expense of competitors in a zero-sum game, symbiotic management focuses instead on enlarging the collective market size, with each involved firm benefiting. Symbiotic management – facilitated by the rise of the Internet – is leading to a new emphasis on multi-polarity in the world of business. Economic activity is moving away from a focus on the individual firm, toward relationships within multi-polar networks. While this may appear to be a radical departure from the usual nature and conduct of business,...

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