Global Entrepreneurship in Motorsport as an Incentive to the Development of the National Automotive Industry

Abstract

The article focuses on entrepreneurship internationalization phenomena that accompany global economic processes expressed in shaping of diverse cross-border corporations forms. Models and methods systematization of business internationalization is put forward, business internationalization levels are defined as in the case of a global company «Formula One», and its impact on the global motor vehicle development is considered. Interrelation of the countries hosting «Formula One» and the number of the cars manufactured is shown as well as nominal rate of gross domestic product. By means of scientific literature analysis concerning internationalization, the author brings into sharp focus the key reasons for business internationalization phenomena stepping up. For the first time in economic science «Formula One» is considered through the prism of international business and defined as a business structure which uses the eclectic model of Danning in the world market in the conditions of internationalization as it uses in its business activity specific advantages of itself and the owner; resources of national and local entrepreneurial structures in the field (the location of direct investment effect and internationalization advantage). It is revealed that, the so-called absolute advantage which is limited in international trade in uniqueness and originality of the product was the main reason for international company «Formula One» internationalization.