HBS Working Knowledge has a story on a research project by Walter Kuemmerle of HBS covering entrepreneurs in various countries:
According to Kuemmerle, there is one central question guiding his IEF research: how do entrepreneurial managers, and those who finance them, make sensible resource acquisition and investment decisions in an international context? Its an important question, given the rise of entrepreneurship around the globe over the last fifteen years, he said. His project complements the growing body of academic literature in three separate areas: international business (which is mainly focused on large multinational firms), international finance, and entrepreneurship.
An increasing number of entrepreneurial firms go abroad much earlier in their lives than ever before in recent business history, he explained.
There are three central ideas that have evolved from IEF, said Kuemmerle. In his words, they are:
Local context matters for the frequency and form of entrepreneurial activity.
A global perspective on opportunities by the entrepreneur enhances the performance of the entrepreneurial venture.
A global perspective on access to resources enhances the quality of deal structure for entrepreneurial ventures and thus the likelihood of venture survival, particularly in tough times when cash is tight.
Taken comprehensively, the argument here is that if you want to be successful as an entrepreneur, it is important to have a detailed understanding of the local context, but also to have a perspective on opportunities and resources globally, he said.
We must keep these points in mind when we look to expand internationally.
