Entrepreneurship & Globalization

In international business circles, entrepreneurship is understood as a major force that is driving globalization, ensuring the flow of goods and services across national borders, and assisting the emerging markets in reaching their potential. More significantly, Supervision (American entrepreneurialà, 1999, p. 6) reported that ôthe entrepreneurial spirit of U.S. companies is the envy of global business leaders, according to a study of 50 global companies undergoing change and transformation.ö As the editors of Supervision (American entrepreneurialà., 1995) put it, U.S. executives and entrepreneurial firms accept transformation as a comprehensive, ongoing process and see it as an inherent part of their organization and strategies. Entrepreneurial firms, regardless of their size or sector, tend to be optimistic about their abilities to meet business challenges with innovative products, processes, and services in order to retain a competitive edge. This is in contrast to many European and Asian businesses which regard transformation in practical and somewhat narrower terms. Unlike American entrepreneurial firms, these businesses focus on operational issues (e.g., quality improvement, customer service, and employee empowerment). Firms rooted in other cultures express concern abo

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fied by Handelman (2000) as helping American companies (and America herself) to gain competitive advantages in international markets. The freer flow of capital and the opening of financial markets in Europe and Japan gave American entrepreneurs alternatives to Wall Street and U.S. banks. Market deregulation, new trade pacts, and improvements in the skills and knowledge of workers in foreign countries, and a more open attitude toward American businesses were also instrumental in the globalization effort (Handelman, 2000; Simon and Button, 1990). In the aftermath of the Cold War, and in the face of new international trade and treaty agreements, it is clear that globalization emanating from entrepreneurial American (and other Western) firms is driving a new economy (Handelman, 2000). While it is of course possible that some type of ôbacklashö against the U.S. might occur, it is more likely that technology transfer and trade agreements, along with development initiative sin the developing world, will lead to improvement in domestic economic situations for these nations (Handelman, 2000). References American entrepreneurial spirit envy of global business leaders. (1995); Supervision, 995, 56(8), 6-10. Gallop, G. D. (1999)
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Some common words found in the essay are:
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Approximate Word count = 2215
Approximate Pages = 9 (250 words per page)

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