A Study of Internal and External Effects on Entrepreneurship in The Kingdom of Saudi Arabia - Dissertation Example

The development of the telecommunication technology since the beginning of the current century has played a major role in the process of bringing a massive technological evolution and enhancement in the lives of the masses around the world. The rising level of internet connectivity and Wi-Fi penetration in various markets and regions around the world along with the factor of rising popularity of various sophisticated technology enabled gadgets like the Smartphones, tablets and laptops has played the role of a major catalyst in diffusing the technological and communication related advancement in markets around the world.

It is important to state that the high levels of internet connectivity coupled with the rising acceptance of various end user technological devices has helped in the process of transforming the world in to a single highly connected entity. As a result of this technological transformation in to a well connected single virtual entity, various new trends are emerging from marketplaces around the world. The new trends which are emerging in the markets of both developed as well as emerging regions are often a by product of globalization as well as new innovation of incremental or radical nature in case of product or services.

The rising globalization powered innovative product and service trends are playing an important role in triggering the consumer demand for various innovative products and services in the globally connected markets. As a result of the growing demand for new kinds of products and services in markets around the world, various new opportunities of business are emerging on a regular basis. To tap the new business opportunities that are emerging in various international markets, business organizations and enterprises located in different markets around the world are focusing on engaging in cross border trade activities like engaging in trade export or directly entering the new markets of growth.

With the entry of new players of foreign orientation in a particular market, the dynamics of market competition gets enhanced in a tremendous manner. The entry of new players in the market significantly increases the availability of homogeneous products and services in the markets, which directly leads to a rise of substitute products and services for the consumers. As a result, it can be simply said that the rise of consumer choices alters the power dynamics existing in the market from the sellers to the buyers.

Apart from the rise of competition in various new markets, it is very important to consider the multiple macroeconomic issues that currently exist in the global markets. The current trends reveal that the growth prospects in most of the developing economies has slowed down in the recent times because of the influence of a variety of factors like high debt, corruption, tremendous currency fluctuations as well as lack of proper policy development. A region by region analysis of the various macroeconomic factors