THE STUDY OF IMPACT OF GLOBALIZATION ON ENTREPRENEURIAL OPPORTUNITIES, STRATEGIES AND PERFORMANCES: A CASE OF PAKISTAN
This study examines the impact of globalization along with other dimensions (Economical, Socio-cultural, technological and financial) on entrepreneurial opportunities, strategies and performance in Pakistan. The result shows that the western model when applied in Pakistan shows almost the same outcome as in western society, the only aspect showing inverse proportion is technology, while others are displaying direct proportion.
Results reveal that when the model which is best in western culture is applied in Pakistan, shows inverse proportion.
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Globalization is one of the variables which has a major influence on entrepreneurial activities, that is it is one of the factor which affects the way an entrepreneur carry out his business in any particular region. Presently, it has been characterized as a phenomenon that has pushed all areas national, local, regional or global towards a single economic system. As it is evident from recent global business environment that various hurdles of trade has been reduced, for example tariffs reduction, or tax exemptions on imports and exports thus it is promoting entrepreneurial activities. Moreover globalization has firmly integrated world economy, which enabled entrepreneur not only to take advantage of new opportunities available in different regions but it also has open new gateways for them to attain all types of available technological and innovative knowledge. Hence it can be stated that globalization not only assists entrepreneur in pursuing new opportunities but it also helps them in designing strategies which as a result supports him not only in exploiting various opportunities but also in improving their performances.
Entrepreneurs can affect economy in various ways, as they play a vital growth-developing role in all developed and undeveloped countries. There are numerous researchers, who have proposed that this era is more diverted towards entrepreneurial economy rather than managerial economy. Entrepreneurs have strong characteristic of willingness to take risk, by introducing new and innovative ideas, not only they adopt these ideas but they also make solid efforts to make these ideas a successful reality even in this reign of economic crisis. Moreover not only they exploit and consume globally available business opportunities, but they also create new businesses which in turn create numerous job opportunities, new and innovative business process and strong competition, therefore altogether the increasing levels of entrepreneurial activities results in economic development. Globalization has brought all economies together, entrepreneurs take massive advantage of this phenomenon, because they can not only avail opportunities and resources’ in their region but they acquire them anywhere round the globe.
Culture have strong effects on the way n individual behave in a economy, this sets up norms and values along with personalities and attitudes of individuals, hence we can say that ultimately there is a strong relationship between entrepreneurial activities and cultural specificity. Culture have a strong affect on how an individual feels, behave, act in daily lives, this factor distinguishes one society from another. Therefore we can say that entrepreneurs from different regions behave differently. In order to succeed in this global environment entrepreneurs study and analyze different cultures in which they propose to compete and carry out business activities.
Entrepreneurial activities cannot take place in a vacuum. Entrepreneurs need...