Evaluation of Successful Strategic Entrepreneurship

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The need to understand how companies can create and sustain competitive advantage while synchronously recognizing and exploiting new opportunities forms the nexus of strategic entrepreneurship. In light of this, successful strategic entrepreneurship is a product of advantage and opportunity seeking behaviors that sustains entity’s aptness to create value across a length of time. This paper seeks to examine the distinctive attributes of that determines success in any strategic entrepreneurial venture. Strategy Entrepreneurship is the integration of strategic management and entrepreneurship. Strategic management involves activities taken to create sustainable competitive advantage and earn wealth while the latter i.e. entrepreneurship, involves the identification and exploitation of opportunities. The marriage of the two, “strategic entrepreneurship” is defined as the integration of opportunity-seeking behavior (entrepreneurial) and advantage-seeking behavior (strategic) in creating well above-average returns for owners as well as value for customers (Hitt & Ireland, 2005). Some scholarly articles have identified two models of strategic entrepreneurship; the content model and the process model. While content model highlights the key features of strategic entrepreneurship in terms of coordination, varied development and push of certain individual factors (Luke and Verreynne, 2006; Wickham 2006); the process model emphasis that beyond the individual factors the interaction of certain domineering factors fundamentally affects entrepreneurial outcomes (Ireland et al., 2003). This paper will adapt the model by Ireland et al. (2003) in which they elucidated the key features of strategic entrepreneurship to include features such as ; an ... ... middle of paper ... ...012/12/12/us-india-walmart-probe-idUSBRE8BB0A120121212. Last assessed 02/05/2014. • Rumelt, R.P., “How Much Does Industry Matter?” Strategic Management Journal 12 (1991): 167–185. See also Mauri, A. J., Mauri & Michaels, M.P., “Firm and Industry Effects Within Strategic Management: An Empirical Examination,” Strategic Management Journal 19 (1998): 211–219 • Shearman & Sterling LLP: Elevators and Escalators. Available: http://www.carteldigest.com/cartel-detail-page.cfm?itemID=7. Last assessed 02/05/2014. • Wickham, P.A. (2006), Strategic Entrepreneurship, 4 ed, Prentice Hall. • Y. Li and S. Deng, “ A methodology for Competitive Advantage Anaylsis and Strategy Formulation: An Example in a Transitional Economy, European Journal of Operational Research 118 (1999), 259-270. • Yoffie D.B., & Kim K., Cola Wars Continue: Coke and Pepsi in 2010, Harvard Business School, 2011

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