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Strategic Entrepreneurship

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Strategic Entrepreneurship

Introduction: In this article, the main topic that is covered relates to precisely how strategic and entrepreneurial management are both combined and unified as a single management function. That is, Strategic Entrepreneurship which is a term vaguely coined by many describes the constant need of mangers focusing on objectives such as finding new business opportunities and taking advantage of creating short-term competition. An expectation of meeting such objectives creates a problem that is caused by having a select few elements of strategic management and entrepreneurship that overlap each other. Due to the general obscure understanding of how both strategic management and entrepreneurship are related, many studies have been conducted in order to better define Strategic Entrepreneurship.

The article notes that in recent time, only one study goes to show a conceptual model of SE (Ireland 2003), but lacking in formulating a feedback loop between strategic management and entrepreneurship. Even though SE can be defined as simultaneous pursuit of opportunities and strategic advantages, the model presented by most early studies failed to pinpoint the correlation between the two.
Due to the fact that SE is a new field of study, the article reviews all information on entrepreneurship, strategic management, and strategic information in order to determine the origin of SE, find the locus of integration, highlight the common components or elements, and scan through the elements that help in distinguishing SE in order to present a refined model of SE.

Strategy helps differentiate firms from each other by constantly striving for competition through embracing competitive advantages. On the other hand, entrepreneurial firms run a risk of focusing only on opportunity recognition and risk taking while lacking in strategic thinking. Balancing the

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