Business Administration as a Basis for Development of Global Entrepreneurship

Abstract

Introduction One of the most important phenomena in modern global economy that determines specifics of its functioning and development in perspective is globalization of global economic connections and relations. Combined with integration processes and scientific & technical progress, globalization stimulates elimination of national economic barriers and creation of favorable conditions for provision of global presence of modern enterprises. Global character of activities provides multiple advantages for business, among which it is necessary to note expansion of sales markets, possibility of maximally effective use of production factors due to placement of separate production processes in different countries, and possession of large market power due to its global scale. Global entrepreneurship also has advantages for society in the countries of its presence, as due to its orientation at long-term existence it is inclined to manifest corporate responsibility; also, possessing large possibilities in the sphere of implementation of innovations and use of scale effect, as compared to national business, it ensures accessibility of high-quality products for low price. Therefore, determination of possibilities and perspectives of development of global entrepreneurship is an actual direction for conduct of research. An initial step of the research is the author's scientific hypothesis according to which business administration is a basis for development of global entrepreneurship. It determines the goal of this work which consists in determination of role and meaning of business administration in development of global entrepreneurship. Materials and method Global enterprise is one of the participants of international socio-economic relations that conduct transnational commercial activities (Caiazza et al., 2016). The most important characteristics and specific peculiarities of a global enterprise are the following: --large number of countries of presence of enterprise (placement of business); --stable position in the global markets and strong global brand (Fudge, 2015); --universal character of production that allows enterprise to successfully adapt to national peculiarities of various countries (Kasemsap, 2015); --possession of substantial resources (financial, human, and material), which allows conducting large-scale scientific research and realizing innovational projects (Wirtz et al., 2015); --mass character of production and possibility for obtaining advantages from the scale effect (Wu, 2016), etc. The notion, sense, and specifics of global entrepreneurship, its role in development of modern global economy, key participants and regulators, as well as problems and perspectives of transnationalization of business are studied in multiple works of such authors as (Wu et al., 2015), (Jordan et al., 2015), (Popkova and Tinyakova, 2013), (Skiter et al., 2015), (Dzhandzhugazova et al.. 2015), (Kravets et al., 2014). Analysis of the components of business administration, study of methods and tools of enterprise management, research of conceptual and empirical approaches to conduct of business administration, and consideration of factors and indicators of quantitative and qualitative evaluation of business administration are studied in the articles of such scholars as (Salvioni and Gennari, 2016), (Al-Maghzom et al., 2016), (Metushi et al., 2016), (Whiting and Birch, 2016), (Baldini and Liberatore, 2016), (Chu et al., 2016), etc. Problems of business administration and marketing management are studied in articles of (Sozinova & Fokina, 2015). Based on the conducted literature review on the studied problem, it is possible to conclude that works of modern researchers include foundations for global business and enterprise management. However, many practical aspects and dependence of development of global entrepreneurship on business administration are not sufficiently studied, which causes necessity for further research in this sphere. …