Chapter 4: Entrepreneurial Capabilities: A Resource-Based View
Sharon Alvarez & Jay Barney
Entrepreneurial capabilities: A resource-based view Strategic management is a process that deals with the entrepreneurial work of the organization, with organizational renewal and growth, and more particularly, with developing and utilizing the strategy which is to guide the organization's operations . Strategic managers and researchers have long been interested in understanding sources of organizational renewal, growth, and competitive advantage for firms. An important aspect that should not be overlooked with respect to growth and competitive advantage is innovation and the driver of innovation, entrepreneurship. Entrepreneurship and innovation are inextricably interwoven. But typically, strategic management research that has relied heavily on economic-driven models has overlooked entrepreneurial strategies and entrepreneurial capabilities such as creativity, ingenuity, and foresight. Even today, when entrepreneurship research is in demand, most economic research, and consequently much of strategic management research, views entrepreneurship as the “specter which haunts economic models” (Baumol, 1995, p. 17). Furthermore, the behavioral approach ...