Minority entrepreneurs and International strategy selection Research Paper

minority entrepreneurs and International strategy selection - Research Paper ExampleThis means that these minorities have to plan an international strategy for their descentes in their nascent stages. The strategy needs to be planned effectively because the ability of the business to take risks and endure failure is very low and the owner may not be adequate to recover after a loss. Planning an international strategy for such a small and super constrained business is extremely difficult and requires caution. Because of the cultural differences, minority entrepreneurs have a different way of management and wherefore adopt different strategies that make them different from local entrepreneurs. The advantage of this distinctiveness is that they are better able to reach communities and generate referrals along with community support. The disadvantage is that this different style makes these entrepreneurs lesser at ease as compared to the local entrepreneurs. Minority entrepreneu rs face a multitude of problems which decrease their chances of success. It is therefore imperative that structures are set up that provide support to and encourage this important segment of the society. The problems of such businesses are unique and therefore require a unique solution as well.Entrepreneurs are the emotional state blood of any economy as they operate at the grass root level and pass through markets that the larger enterprises are unable to reach. Each year, thousands of immigrants leave their homelands and settle in other countries in interest of better economic and social conditions. Most of the influx also occurs in the western countries or the essential world where the economies are able to support these incomers and the markets are well developed to allow these small businesses to din at such a small scale. Contradictory to common understanding, entrepreneurship does not necessarily involve development an innovative product, it has various definitions. For such entrepreneurs, it is equivalent to launching their businesses in an international