Abstract
In the context of International Entrepreneurship, every entrepreneur will be facing the challenge to choose the “ideal” market out of more than 180 possibilities. In the areas of general market selection and market entry opportunities a lot of research has been done in recent decades. Different approaches were developed and evaluated in different markets, and also applied in cases in all kind of
industries. A number of well-known frameworks were developed, like e.g. Uppsala, waterfall, sprinkler, born global, 9 strategic windows model, etc.
But there is one area in particular, in which there was not so much research done — the area of international entrepreneurship. This is notable, since the area is very different from general internationalization. In the context of international entrepreneurship, the concept of psychological market distance seems to play an essential role. In this paper a new framework will be introduced, which
is based on two dimensions, one is the psychological market distance and other one is market attractiveness. This framework has been developed for helping the entrepreneurs better to structure their strategical planning for their market selection and to avoid or reduce risks and uncertainties systematically.
According to the framework a qualitative study is carried out. In this study entrepreneurs are interviewed based on a structured interview guide. The goal of the study is to analyze and better understand the strategies of several best practice international entrepreneurs. Based on the framework the results are
discussed.
It can be shown that the proposed framework is helpful in manyfold ways. Obviously, it can be applied to analyze the strategy. But more importantly it can also visualize the status quo as well as potential future developments. Based on that, it can also reduce the perceived psychological distance and generate
measures additionally. It can also support the implementation of strategies and be helpful in area of controlling activities.
Finally, implications for other international entrepreneurs are developed
industries. A number of well-known frameworks were developed, like e.g. Uppsala, waterfall, sprinkler, born global, 9 strategic windows model, etc.
But there is one area in particular, in which there was not so much research done — the area of international entrepreneurship. This is notable, since the area is very different from general internationalization. In the context of international entrepreneurship, the concept of psychological market distance seems to play an essential role. In this paper a new framework will be introduced, which
is based on two dimensions, one is the psychological market distance and other one is market attractiveness. This framework has been developed for helping the entrepreneurs better to structure their strategical planning for their market selection and to avoid or reduce risks and uncertainties systematically.
According to the framework a qualitative study is carried out. In this study entrepreneurs are interviewed based on a structured interview guide. The goal of the study is to analyze and better understand the strategies of several best practice international entrepreneurs. Based on the framework the results are
discussed.
It can be shown that the proposed framework is helpful in manyfold ways. Obviously, it can be applied to analyze the strategy. But more importantly it can also visualize the status quo as well as potential future developments. Based on that, it can also reduce the perceived psychological distance and generate
measures additionally. It can also support the implementation of strategies and be helpful in area of controlling activities.
Finally, implications for other international entrepreneurs are developed
| Original language | English |
|---|---|
| Title of host publication | Management International Conference 2022 |
| Publication status | Submitted - 10 Jun 2022 |
| Event | 21st Management International Conference: MIC 2022 - Ljubljana, Slovenia Duration: 9 Jun 2022 → 11 Jun 2022 |
Conference
| Conference | 21st Management International Conference |
|---|---|
| Abbreviated title | MIC 2022 |
| Country/Territory | Slovenia |
| City | Ljubljana |
| Period | 9/06/22 → 11/06/22 |