Discuss about the Internatinal Business.
The article is a review of the article ‘Tanev, S., 2012. Global from the start: The characteristics of born-global firms in the technology sector. Technology Innovation Management Review, 2(3), p.5.’.
It has discussed about various aspects of the article along with other critique articles to provide a transparent idea about the article. Three critique articles have been discussed n this report, such as: Re-thinking research on born globals, Lean and Global Technology Start-Ups: Linking the Two Research Streams and Born globals: A cross country survey on high-tech start-ups. The objective of the article is to present a vivid concept about Born Global firms.
In the article, ‘Global From the Start, The Characteristics of Born- Global Firms in the Technology Sector’ the writer Stoyan Tanev has enlightened the concept of Born-Global firms that are established globally to compete in the global market. It has presented different features of such firms. Other authors have contributed in this research work. As opined by Knight and Cavusgil (2004), Born-Global firms are more innovative by nature. They have supported the concept of the Stoyan Tanev by their research that such firms need to be superior to meet the expectation level of the global consumers. The organizational management needs to perform in an innovative manner to support the organizational growth (Coviello 2015). The article Global From the Start, The Characteristics of Born- Global Firms in the Technology Sector’ has concentrated on the research work of different researchers who have studied the issues. According Coviello (2015), the leaders need to maintain unique organizational culture within the organization. It motivates employees to contribute for the betterment of the organization. They enhance their potentiality to some extent so it can fight to survive in the global competition. Knight and Cavusgil have stated in their research work that leaders of Born-Global leaders must have a wide knowledge about the international market and market entry strategy in the foreign market.
Otherwise, they may face various difficulties while competing with other global companies. The article has focused on the issue that how a small-firms who has been designed to compete in the global context can battle against the large global enterprise and meet the expectation level of the large number of global consumers. The article has articulated some key features of the Born-Global Firms. According to the reports, such firms started their operation in the international market within a short period of its starting. The report claims, that born-global firms preserves limited financial and other assets. At the same time, their human resource is also shorter than other large and medium business organization. Another key feature that has been enlightened in the article is other sectors, such as- food, clothes and retails and so on that are expanding along with the technological sector. As per the report, management of the born-global firms must have different outlook towards the international market than other business organization, as expansion in the global market is not only an additional activity for them along with the domestic market. Unlike other business organization, their primary and main objective is to enter into the foreign market and battle against the global competitors to put a remarkable footprint in the global context. Thus, they must have strong knowledge about the international market and international business style. The management of the Born-Global Firms must have the capability of adopting new and innovative strategies that can be beneficial for their organizational growth. They must concentrate on their product quality.
It is important to design the product quality according to the requirement of the consumers to put a strong footprint in the foreign market and reach to the global consumer. Writer of the article has claimed that the maximum number of born-global firms belong to technological sector, as it provides a wide opportunity to the business organization to expand and flourish. It is evident that technological firms mainly extend their wings in the countries that are technologically sound, so they can avail better facilities that will be helpful for the growth of their company. In this research, writer has concentrated on the barriers that have been faced by the business organizations often while operating in the foreign market. The writer has conducted a research work on this aspect to draw the conclusion. It is often evident that there are various issues that work as a threat for the start up business organizations in the foreign market. The writer have stated that the organizational management must design their organizational structure in such a manner, that can beat such threats and gain desired position in the industry (Tanev 2012). According to Coviello (2015), leaders play the most crucial role in establishing a strong Born-Global Firms. Like Stoyan Tanev this researcher also claim, leader of such firms need to design their organizational structure in such a manner that it can be suitable for the trend of the global market. It is not easy to survive in the global market, one has to preserve great knowledge and vision about the international business and market (Coviello 2015 ). In the article ‘Born Globals: A Cross-country survey on High-tech start ups’, the writers Guisy Cannone, Elisa Ughetto has stated that since past few decades global expansion has become the trend for business organizations. In order to avail better opportunity and earn huge profit, many business organization is looking for the opportunity to establish a Born-Global Firm. According to the writers, the knowledge and strategy of the entrepreneur works as a key influential factor for such business organizations. It leads the organization to be constructed in an appropriate manner. In this research, writers have stated that it is evident that many Born-Global Firms is earning huge profit from the foreign market.
This works as a motivational factor for other business organization to extend spread their wings in the foreign market. The study has stated that international business and entrepreneurship both are interrelated and often occur together in the case of Born-Global Firms. As per the study, the condition of the domestic market can play crucial role in influencing an organizational management to expand their business in the foreign market, as if the business organization is not getting sufficient opportunities to establish a bright future for the organization, the organizational management often looks for the opportunities in the foreign market. It is often evident that many business organizations are not able to achieve their desired position in industry due to lack of opportunities in the market. In this research work, writers have concentrated on this aspect of the Born-Global Firms. Some other contexts have been enlightened in the research work. Like previous researches, it has also concentrated on the potentially of the firms. Like Stoyan Tanev, the writers have stated that Born-Global Firms must have some unique and innovative potentiality that can support the growth of the organization in the foreign market. Born-Global Firms must have the capability to offer some unique and high quality products that can distinguish it from other rival brands. It will help the organizational management to run their business in the foreign market in an appropriate manner. According to the researchers, the management of the business organization must not leave any stone unturned to meet the satisfaction level of the consumers. It will help them to earn the desired position in the foreign market (Cannone and Ughetto 2014). The study has supported the research of Stoyan Tanev. In the research ‘Lean and Global Technology Start-ups: Linking the two research streams’ has also concentrated on the entry of the Born-Global Firms in the global market. Like Stoyan Tanev, the writers of this research work has also enlightened the aspect of barriers that often faced by the business enterprise in the foreign market. In this research, Researchers have stated that there are several issues that can be faced by the business organization while operating in the global market. It is considered as an integral part of the organizational structure. It is the responsibility of the organizational management to incorporate some efficient strategy to overcome such issues. In order to overcome these issues, the organizational leaders must have a clear idea about the market structure and market trend. It will be beneficial for the organizational management to heal the issue. It is important for the organizational management to design the organizational structure in such a manner that it can beat all the obstacles and earn the desired position in the market. According to the study, it is not easy to start a business venture n the foreign market, so the business leaders need to be careful about all the aspects of the foreign business strategy and international market. It will help them to overcome all the upcoming obstacles in the near future. It is evident that business organization faces several complexities while flourishing in the foreign market. Thus, it is the responsibility of management to conduct research on the foreign market before taking any business venture. Thus, it will help the organization to establish a strong organizational structure by avoiding all the complexities in the foreign market (Lemminger et al. 2014).
The researcher Stoyan Tanev has done qualitative research in his study. He has concentrated on some key issues of the Born-Global Firms, such as the barriers these firms face while entering in the foreign market, what are the factors that help the business organization to achieve success in the international market easily, how to design the organizational strategy for the international market. The researcher has constructed the research work on the basis of these questions. He has successfully conduct the research and drawn the conclusion. He has been supported by many other researchers in future for his research work. He has achieved his goal successfully, as it has been argued many other researchers that organizational strategy and capacity are the key components that can be beneficial for the Born-Global Firms. Moreover, he has been supported for his unique research on the leadership of such firms as well. Other researchers have also stated in their researches that it is important to have strong, skilled leaders for such firms who possess great knowledge about the international business and international market entry strategy. Thus, the writer Stoyan Tanev is successful to some extent in his research work.
Conclusion:
As per the previous discussion, it can be concluded that there is a common aspects of the Born-Global Firms that has been enlightened by every researcher, that management of such firms need to adopt innovative and unique business strategy to support the growth of the organization. Otherwise, it may face various issues in the near future. Leaders who are looking for opportunities to extend their business in the foreign market must consider the fact while designing the organizational structure.
References:
Cannone, G. and Ughetto, E., 2014. Born globals: A cross-country survey on high-tech start-ups. International Business Review, 23(1), pp.272-283.
Coviello, N., 2015. Re-thinking research on born globals. Journal of International Business Studies, 46(1), pp.17-26.
Lemminger, R., Svendsen, L.L., Zijdemans, E., Rasmussen, E.S. and Tanev, S., 2014. Lean and global technology start-ups: Linking the two research streams. In 2014 ISPIM Americas Innovation Forum. ISPIM.
Tanev, S., 2012. Global from the start: The characteristics of born-global firms in the technology sector. Technology Innovation Management Review, 2(3), p.5.
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