Strategic Entrepreneurship: Creating Value for Individuals, Organizations, and Society

21 Pages Posted: 16 May 2012

See all articles by Michael A. Hitt

Michael A. Hitt

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

R. Duane Ireland

Texas A&M University - Department of Management

David G. Sirmon

Texas A&M University

Cheryl A. Trahms

Texas A&M University - Department of Management

Date Written: January 28, 2012

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.

Suggested Citation

Hitt, Michael A. and Ireland, R. Duane and Sirmon, David G. and Trahms, Cheryl A., Strategic Entrepreneurship: Creating Value for Individuals, Organizations, and Society (January 28, 2012). Mays Business School Research Paper No. 1994491, Available at SSRN: https://ssrn.com/abstract=1994491 or http://dx.doi.org/10.2139/ssrn.1994491

Michael A. Hitt (Contact Author)

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

R. Duane Ireland

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

430 Wehner
College Station, TX 77843-4218
United States

David G. Sirmon

Texas A&M University ( email )

430 Wehner
College Station, TX 77843-4218
United States

Cheryl A. Trahms

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

430 Wehner
College Station, TX 77843-4218
United States

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