Strategic entrepreneurship: Creating competitive advantage through streams of innovation |
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Authors: | R. Duane Ireland Justin W. Webb |
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Affiliation: | Mays Business School, Texas A&M University, College Station, TX 77843-4221, USA |
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Abstract: | In today's fast-paced competitive environment, firms face the need to be increasingly nimble and adaptive. While often able to establish a certain level of performance based upon existing technologies, firms are equally as often to be left flat-footed in the face of emerging, novel technologies. We discuss strategic entrepreneurship as the means through which firms simultaneously exploit their current competitive advantages while exploring for future opportunities. Achieving a balance between exploration and exploitation consists of more than merely allocating resources evenly between the two processes. As discussed, exploration and exploitation are operationally, structurally, and culturally distinct processes. |
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Keywords: | Strategic entrepreneurship Exploration Exploitation Innovation Competitive advantage |
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