Strategic Entrepreneurship: Creating Value for Individuals, Organizations, and Society Academic Article uri icon

abstract

  • The foci of strategic entrepreneurship (SE) are broad and rich, building on research from multiple disciplines such as economics, psychology, and sociology, along with other subdisciplines in management including organizational behavior and organization theory. Herein, we examine the contributions of strategic management and entrepreneurship to SE. Building on a previous model of SE, we develop an input-process-output model to extend our understanding of the SE construct. We examine the resource inputs into SE, such as individual knowledge and skills. In addition, we explore the resource orchestration processes that are important for SE and the outcomes, including creating value for customers, building wealth for stockholders, and creating benefits for other stakeholders, especially for society at large. Individual entrepreneurs also benefit through financial wealth, but other outcomes such as personal satisfaction and fulfillment of personal needs (e.g., self-actualization) may be of equal or even greater importance. Therefore, we incorporate in the model of SE multilevel outcomes that motivate entrepreneurs.

published proceedings

  • ACADEMY OF MANAGEMENT PERSPECTIVES

author list (cited authors)

  • Hitt, M. A., Ireland, R. D., Sirmon, D. G., & Trahms, C. A.

complete list of authors

  • Hitt, Michael A||Ireland, R Duane||Sirmon, David G||Trahms, Cheryl A

publication date

  • January 1, 2011 11:11 AM