Summary
Contents
Subject index
The creation of innovative products and services by entrepreneurs is often cited as one of the key strengths of the current American economy. Academics and executives alike are beginning to recognize the advantages of innovation and real-time experimentation over traditional strategic planning processes. Large firms find they need to create strategies that are entrepreneurial, and emerging firms are recognizing the importance of a continuing emphasis on entrepreneurship in their long-term strategic vision.
Entrepreneurial Management as Strategy
Entrepreneurial Management as Strategy
Entrepreneurial management is a management system under which organizational members are empowered to think and act like entrepreneurs. This chapter draws on concepts from resource-based theory, institutional theory, organizational processes, learning organization, and dominant logic to explore the potential rewards of embracing such a management system. It is our contention that strategies of entrepreneurial management are essential to firms if they are to develop unique strategic assets and institutional capital—the foundations of sustainable competitive advantage.
In the new competitive era (Bettis & Hitt, 1995), firms often operate in environments that are turbulent and uncertain. To be effective in these environments, managers must continually develop new tools, concepts, systems, and mind-sets. Flexibility and agility are paramount. Managers must ...
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