Pros and Cons of Becoming a Global Entrepreneur

Pros and Cons of Becoming a Global Entrepreneur

Introduction

At the time of global uncertainty, becoming a global entrepreneur has several advantages and disadvantages. The global economy as a whole is witnessing a downfall to such an extent that people are predicting that their children will end up worst than they are (El-Erian, 2011). This is contradictory to earlier beliefs that as the economy of the world grows, future generations earn more and live better lives.

The United States was once the world's fastest growing economy. Now it is struggling to provide jobs to its population. This has led to protests demanding a fairer system. The same is the case with Europe and other developed countries. As the world is moving towards a global crisis, economies are finding it increasingly difficult to provide jobs and stimulate the economy so that businesses may not face a situation where they will have to make a decision whether to shut down or continue operations in a loss with hope of making profits at a later stage.

Global Entrepreneurs

Globalization has led to the creation of global entrepreneurs. These entrepreneurs have an important and tough task of managing their business in several countries. Their task is not simple as it involves complex decisions and forecasts that ordinary managers cannot perform. Although uncertain, the benefits of expanding internationally can lead to a substantial increase in profits if the entrepreneur manages it well. There is always a possibility that by expanding globally, the business will expand at a pace which will not be manageable. Hence, entrepreneurs will have to find new ways of managing their business. It is also possible the expansion of the business globally will lead to losses which can eventually force the business to reconsider its decision and in severe cases, ...