Strategic Entrepreneurship Version 2: A Reconceptualisation and Extension of Ireland, Hitt and Sirmon's Model for Growth and Wealth Creation in Firms
Soh, Hian Quan (2006) Strategic Entrepreneurship Version 2: A Reconceptualisation and Extension of Ireland, Hitt and Sirmon's Model for Growth and Wealth Creation in Firms. [Dissertation (University of Nottingham only)] (Unpublished)
The main objectives of firms regardless of size are wealth creation and growth. One promising avenue for firms to stimulate further growth and create additional wealth is through entrepreneurial opportunities. However, there is the danger that opportunity-seeking behaviour can become reckless, draining resources and damaging the competitive base of the firm. It is on this basis that Ireland, Hitt and Sirmon (2003) proposed Strategic Entrepreneurship: the combination of opportunity-seeking and advantage-seeking behaviour. However, their proposed conceptualisation of Strategic Entrepreneurship has received little research, quantitatively or qualitatively. Furthermore, the model as it stands ignores issues such as organizational learning and networking, consistently highlighted as important factors for business performance by many researchers. In response, therefore, this study seeks to develop a more thorough conceptualisation of Strategic Entrepreneurship by extending and building on Ireland et al. work. Following a detailed conceptualisation process, the model is explored through three case studies, Dell, Hewlett Packard, and Lexar. The study finds that Strategic Entrepreneurship is a far more complex phenomenon than Ireland et al. conceptualised and requires the integration of entrepreneurial orientation, learning, networking and type of innovation if it is to more accurately captured how Strategic Entrepreneurship appears to be encapsulated in firms in practical terms. Implications for academics, managers and government public policy are identified and the study limitations are appreciated.
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