Question

Define global start-up. Identify 3 characteristics of a global start-up

Define global start-up. Identify 3 characteristics of a global start-up

Homework Answers

Answer #1

A global start-up can be defined as a firm that from inception seeks to offer a substantial competitive advantage from the combination of its resources to drive outputs around the world.

It can be a high tech industry, engaging in R&D activities and producing or selling internationally, offering any services to global customers. Example of today’s start ups are in Artificial Intelligence, Customer Services, Business Process Outsourcing, Knowledge PO, Legal PO, Recruitment services, Internet Of Things, Machine 2 Machine learning, Financial and International trading Brokerage services etc.

Characteristics:

  • Product-Market Fit- most needed characteristics in a company to enter into a pre-defined target market, respective segment of customers and it’s utility to buy and use for a customer. Above examples require an excellent assessment of product- market fix to launch and then sustain
  • Start With Small Test Markets- generally these start ups go for Alpha tests to find the fitment of their products and service with a part of a market segment or a sample of customers, then go for Beta testing to test with more geographic/ category of markets in fragments and hence slowly test with more number of customers
  • Disruption- maximum start ups we see today are passionate about bringing disruption through their new and optimized tools (hardware/ software)/ technologies (IOT/ AI/ Analytics)/ Speed of an operation/ Better operational process/ New business models of outsourcing to provide cost benefits etc. They product/ service can cater to one or category of markets or one segment to multiple segments of customers, globally
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