When learning about the idea of International Businesses, we completed two activities; the Entrepreneurship Wall and Going Global presentation. We were to choose a country and create a presentation displaying the pros and cons of expanding into different country. The Entrepreneurship Wall was simply to show significant events (of an entrepreneur) which portray traits and motivations of a successful entrepreneur.
For my Going Global presentation, my group chose Yogen Fruz which originates in Canada. We decided to expand it into Hong Kong mostly because of the free market. I chose Howard Schultz for the entrepreneur wall.
In these activities, I learned that to be a successful entrepreneur, you have to be motivated through independence and a need for achievement+influence. These are important or else the entrepreneur will have no reason to work for their goals. Also, entrepreneurs will require traits such as action oriented (not only saying something, but also doing it), perseverance (to keep striving for perfection), etc…
This answers ‘innovation’ because these entrepreneurs are all famous for creating a product. Also, it answers the ‘needs and wants’ because if the needs and wants of the place is not suitable for the product, it should not be expanded to that place nor sold in that place.