A Model of Strategic Entrepreneurship: The Construct and its Dimensions

Journal of Management, Vol. 29, No. 6, 2003

27 Pages Posted: 14 Feb 2009

See all articles by R. Duane Ireland

R. Duane Ireland

Texas A&M University - Department of Management

Michael A. Hitt

Texas A&M University - Department of Management; Texas Christian University

David G. Sirmon

Texas A&M University

Date Written: February 13, 2009

Abstract

Strategic entrepreneurship (SE) involves simultaneous opportunity-seeking and advantage seeking behaviors and results in superior firm performance. On a relative basis, small,entrepreneurial ventures are effective in identifying opportunities but are less successful in developing competitive advantages needed to appropriate value from those opportunities. In contrast, large, established firms often are relatively more effective in establishing competitive advantages but are less able to identify new opportunities. We argue that SE is a unique, distinctive construct through which firms are able to create wealth. An entrepreneurial mindset, an entrepreneurial culture and entrepreneurial leadership, the strategic management of resources and applying creativity to develop innovations are important dimensions of SE. Herein we develop a model of SE that explains how these dimensions are integrated to create wealth.

Keywords: strategic entrepreneurship, resource management, opportunity, advantage

Suggested Citation

Ireland, R. Duane and Hitt, Michael A. and Sirmon, David G., A Model of Strategic Entrepreneurship: The Construct and its Dimensions (February 13, 2009). Journal of Management, Vol. 29, No. 6, 2003, Available at SSRN: https://ssrn.com/abstract=1342534

R. Duane Ireland (Contact Author)

Texas A&M University - Department of Management ( email )

430 Wehner
College Station, TX 77843-4218
United States

Michael A. Hitt

Texas A&M University - Department of Management ( email )

430 Wehner
College Station, TX 77843-4218
United States
979-458-3393 (Phone)

Texas Christian University ( email )

Fort Worth, TX 76129
United States

David G. Sirmon

Texas A&M University ( email )

430 Wehner
College Station, TX 77843-4218
United States

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