The Impact of International Entrepreneurship on Performance via International Readiness

EXTENDED ABSTRACT
Introduction
In this paper, the international entrepreneurship alongside international readiness will be examined in relation to the success of companies' performance, which is a prerequisite for entering global markets in the field of international and global trade. The Rapid changes in the markets and demands leads to intense competition, innovation is a competitive advantage capability to achieve successful performance in international and even global markets.The theory of modern knowledge-based development introduces dynamic entrepreneurship as a fundamental condition for achieving competitive advantage in the complex global environment, making knowledge-based transformation and its increasing impact on economic growth in today's knowledge-driven economies vital. With fundamental changes in economic structures and the growing importance of innovation, invention, and the creation of new products, the need for an entrepreneurial mindset becomes more apparent. Ensuring the survival and continuity of organizations requires finding new solutions and methods to address challenges, which depend on innovation and invention, the creation of new products, processes, and methods. Companies with high levels of entrepreneurship continuously monitor the environment to identify new opportunities. Consequently, given the extensive market and significant investments in research and development, pharmaceutical companies aim to enhance their dynamic capabilities and increase their product innovation by expanding into other countries to survive in the competitive international market. Thus, the primary issue of this research is to determine how selected pharmaceutical companies with international entrepreneurship can achieve operational success commensurate with the necessary readiness for it. Innovation emerges as a key differentiator in the fiercely competitive 'Red Ocean' markets, where successful companies continuously innovate in products, processes, and resources. This strategic emphasis on International Entrepreneurship highlights the necessity for firms to be prepared for international markets, encompassing Marketing Intelligence and Networking. The core aim of research is to examine the significant influence of International Entrepreneurship on performance, emphasizing the International Readiness. International Entrepreneurship is recognized as an innovative action that, by leveraging existing resources, creates new capacities for wealth generation. It represents a company's overall innovation and foresight in pursuing international markets, accompanied by a proactive management outlook and competitive stance. These concepts are considered behavioral elements of a global orientation, indicating senior managers' inclination towards risk-taking, innovation, and proactiveness. The study proposes a primary hypothesis and four sub-hypotheses within a research model to explore this relationship. In today's business climate, where exporting is indispensable for survival and growth, the study aims to provide concrete evidence on how International Entrepreneurship affects Marketing Intelligence and Networking Capabilities, thereby facilitating successful performance in international markets.
Methodology
This applied research adopts a descriptive retrospective approach based on the nature of the data. Data collection was conducted through field surveys using a questionnaire divided into three sections with 48 closed-ended questions, a 7-point Likert scale was employed to measure respondents' attitudes, allowing for a nuanced assessment of their perceptions and opinions. Results were obtained from the commercial managers or CEOs in 55 pharmaceutical companies which were active in Tehran. The questionnaire's content validity was confirmed by experts, and its reliability was verified through Cronbach's alpha. After ensuring the normal distribution of the research data, a demographic analysis of the respondents was performed, considering gender, age, education level, and position. The research hypotheses were examined using Structural Equation Modeling with Smart PLS software.
Discussion and Results
The study affirms that International Entrepreneurship is a critical driver for business innovation and performance in the global market. It highlights the mediating role of International Readiness, which encompasses aspects such as networking and market orientation. The research reveals that while many firms engage in indirect exporting, a comprehensive understanding of target markets and competitors is often lacking. This gap, coupled with challenges in communication and coordination, has led to difficulties in fulfilling commitments to foreign customers, presenting significant barriers to successful exporting.
The findings underscore the strategic importance of International Entrepreneurship, where readiness is an integral part of the entrepreneurial journey. International Readiness is identified as a dynamic capability that evolves with a firm's international activities. The study emphasizes the need for firms to develop robust networks and a strong market orientation to effectively navigate the hurdles of internationalization.
Conclusion
The research concludes that International Entrepreneurship, along with a strategic emphasis on International Readiness, is crucial for driving business model innovation and performance in international markets. This entrepreneurial spirit, characterized by innovation, risk-taking, and proactiveness, is essential for companies to adapt and implement new ideas that lead to organizational change and foster a culture of continuous innovation. Moreover, companies must enhance their International Readiness through effective networking and marketing systems, which are critical for leveraging resources and opportunities in the global market. The research highlights that despite facing significant challenges such as sanctions and increased production costs, which impede their competitive stance and market positioning, Iranian pharmaceutical firms have the potential to succeed in international markets by focusing on niche markets and leveraging unique products and modern technology. The strategic nature of the pharmaceutical industry in Iran necessitates self-sufficiency in drug production, which, coupled with government support, can pave the way for overcoming external barriers and reinforcing the global presence of these companies.