Benefits Of Strategic Entrepreneurship

3218 Words13 Pages
Introduction Success in business management always migrated with the strategic thinking and the clear designs for the organization strategic plans aside with the processes and working steps to achieve the plans’ targets with the focus on the organization competitive advantages. Strategic ways of thinking with the nature and changes happened in managers and decision makers minds set become one of the focal points that researchers work to discover through the last decades. In today’s dynamic business Environment, aggressive competitiveness, penetration of globalization nd international business, with limited resources these all increase the importance of strategic management to achieve the maximum profit the organization targeted to reach ,…show more content…
1. Strategic Entrepreneurship provides a useful complementary framework for focusing on the development of the necessary resources and capabilities. Resources and capabilities can be viewed as performance enabling mechanisms in the context of entrepreneurial actions, strategic actions, entrepreneurial orientation and strategic renewal. 2. It prepare better decision environment for better decision making and best resources utilization to gain the maximum wealth, by building accumulative picture for current and future organizational picture of capabilities, resources, plans and targets. 3. Helps the firm to be able to form a balance between opportunity-seeking (i.e., exploration) and advantage-seeking (i.e., exploitation) behaviors (Ireland, Hitt, & Sirmon, 2003). 4. Helps a firm position itself such that it is capable of properly responding to the types of significant environmental changes that face many of today’s organizations. 5. Helps the firm develop relatively sustainable competitive…show more content…
And to reach a system the impose the newness as part of daily work the organization must adopt an innovation system ( mindset, activities and processes with skilled human resource). Through Innovation and creativity the organization can hold pioneering entrepreneurial position in the market, and always has the tool for best gaining the opportunities and achieving a good wealth for its stakeholders. Innovations resulting from new combinations of production factors are critical to firms’ wealth-creating efforts. Innovation is linked to successful performance for firms in both the industrial and service sectors as well as to entire economies (Kluge, Meffert & Stein, 2000). Effective innovations create new value for customers (Mizik & Jacobson, 2003) and are required to help the firm survive gales of creative destruction along with serving as a catalyst for those gales (Danneels, 2002). Firms must be creative to develop innovation. Creativity, experimentation, and a broad search of knowledge stocks beyond what is captured in the firm’s existing competencies are examples of the activities that are a part of the exploration process (March,

More about Benefits Of Strategic Entrepreneurship

Open Document