Many firms entering the market have done so through global networking, which allows the firms to develop the skills and knowledge needed to become a “born global” firm. As a firm learns more about a specific global market the firm becomes more willing to commit resources and expand business. Networking is the glue that brings entrepreneurial firms together with global partners. As a firm builds networking relationships it grows and becomes more pro-active in its dealing with its network partners (Svante, 2011).
Less market research and planning is necessary as a result of these activities because the entrepreneur learns from its relationships and the knowledge gained in networking activities. An entrepreneur wishing to go global should find it imperative to embark on networking activities. By doing so from the start, a firm is more likely to find success (Svante, 2011).
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Svante, A. (2011). International entrepreneurship, born globals and the theory of effectuation. Journal of Small Business and Enterprise Development, 18(3), 627-642. doi:10.1108/14626001111155745