Strategic Entrepreneurship

Abstract

Strategic entrepreneurship is a newly recognized field that draws, not surprisingly, from the fields of strategic management and entrepreneurship. The field emerged officially with the 2001 special issue of the Strategic Management Journal on “strategic entrepreneurship”; the first dedicated periodical, the Strategic Entrepreneurship Journal, appeared in 2007. Strategic entrepreneurship is built around two core ideas. (1) Strategy formulation and execution involves attributes that are fundamentally entrepreneurial, such as alertness, creativity, and judgment, and entrepreneurs try to create and capture value through resource acquisition and competitive positioning. (2) Opportunity-seeking and advantage-seeking — the former the central subject of the entrepreneurship field, the latter the central subject of the strategic management field — are processes that should be considered jointly. This entry explains the specific links between strategy and entrepreneurship, reviews the emergence and development of the strategic entrepreneurship field, and discusses key implications and applications.

Keywords: Strategy, entrepreneurship, competitive advantage, uncertainty, opportunities, alertness, judgment

JEL Classification: L21, L22, M13, O32