RSUSCI-2022 & RSUSOC-2022
IN22-048 Success Factors in Global Business Setting: An Entrepreneur’s Experience
Presenter: Alma C. Dupagan
Graduate Studies, University of the City of Muntinlupa,, Graduate Studies, University of the City of Muntinlupa
Abstract
The success of an entrepreneur engaged in global business largely depends on different factors that affect their venture. Not all entrepreneurs who enter a global business can succeed. Entrepreneurs should know and understand the different success factors and the roles these factors play to have a greater chance of success. This research aims to study the different factors that contribute to their success in doing a global business. This study used a qualitative approach based on secondary data collected from journals, articles, books, and documented interviews. The results show that the factors that affect the success of an entrepreneur in global business settings are passion, motivation, characteristics of an entrepreneur such as innovativeness, futuristic mindset, risk-taking ability, adaptability, and commitment, knowledge of technology, and ability on facing business challenges that can help solve business problems through research and comparative analysis of the situation of the countries that you plan on establishing businesses must be done. Each of the factors mentioned has its role in achieving or attaining success in the global business. These findings will be of immense help to aspiring and nascent global entrepreneurs, future researchers, students, business professionals, and the public.