Norbäck and Persson XXXXXXXXXXsuggest that some firms are “born to be global firms,” like Google and Facebook. Others, however, sell themselves and their innovations to incumbent firms. The authors...

1

Introduction
The term entrepreneurship refers to undertaking those risky activities which generate profits
y identifying and exploiting new opportunities in the market. There has been inappropriate
use of the term entrepreneurship which is usually exchanged with other similar business
elated terms such as self-employment. There are two types of entrepreneurship on the basis
of expansionary business policies and usage of business techniques which will further
increase the business profits in one way or the other. One is innovative entrepreneurship in
which continuous innovations occur in the form of introducing new kinds of product lines,
new forms of organizational functions or may be the new production techniques. In this way,
the business would be able to capture greater market share by enticing consumers towards
their
anded products.
Another one is imitative entrepreneurs which basically copies the ideas and tactics of
innovative business entrepreneurs and thereby leads to diffusion of the creative ideas of
usiness expansion. They also modify the imitative ideas of the innovative firms rather than
using pure imitative ideas which further leads to refine form of innovation for new groups of
customers.
In the paper, there will be study over the alignment of Peng’s five entrepreneurial strategies
with that of the No
ack and Persson entrepreneurial business forms like global leaders or
incumbent firms. Also, the implications of born to be global business leaders are studied over
small, new and innovative firms (McDonald, December 2015).
Peng’s five entrepreneurial strategies
According to Peng’s strategy over business expansion, there are five main criteria on the
asis of which there will be further development of business leading to rise in revenue
proceeds. These include – growth in the form of rise in investments, innovation through new
2

products or new markets, networking among several other business organizations, financing
and managing governance issues, and finally the harvest or exiting techniques of business
firms. Therefore, Peng never considered innovation business practices to be the only and
exclusive necessity for new and young firms as they need to create their image in the market.
He also suggested that considerations of the industry also needs to be taken while forming
any specification related to any kind of firm because it clearly depends on the industrial
prospects that will form the basis for further globalisation.
For instance, firms like Google and Apple are born to be global firms who regularly produce
innovative products of same line by developing new technology. They...