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2022 | Book

Strategic Entrepreneurship

Perspectives on Dynamics, Theories, and Practices


About this book

The result of the application of strategic management philosophy to the nexus of entrepreneurship, innovation, and economy, strategic entrepreneurship fosters sustainable development and competitiveness. This volume provides an introduction to the theories of strategic entrepreneurship and accounts of their real-world applications in the entrepreneurial sector. The book is divided into three parts. Chapters in Part I discuss strategic entrepreneurship dynamics and mechanisms. Chapters in Part II focus on strategic entrepreneurship concepts and theories. Chapters in Part III provide global examples of strategic entrepreneurship practices in action. Presenting a view of strategic entrepreneurship across diverse sectors and industries, this edited volume will be attractive to researchers and students interested in management, entrepreneurship, economics, public administration, and public policy, as well as corporate strategists, managers, and policymakers looking to integrate the principles of strategic entrepreneurship.

Table of Contents

An Introduction to Strategic Entrepreneurship: Perspectives on the Dynamics, Theories, and Practices
This edited volume on strategic entrepreneurship embraces well-timed topics as diverse as a proposed contextual strategic entrepreneurship model of development, the fourth industrial revolution and HRM, the informal enterprises, under-theorized aspects of social entrepreneurship strategies, the concept of time in strategy formulation, corporate entrepreneurship strategy and internationalization, complexity theory and its application to entrepreneurship and administration, strategic usage of crowdfunding platforms in modern businesses, technology-based entrepreneurship, strategic views to the current turbulent markets, women-led entrepreneurial firms and finally strategic entrepreneurial succession for family businesses. Through each single topic the authors, who are experts in the theme they picked, have tried to unfold an emerging aspect in strategic entrepreneurship which could benefit not only the academic readers but also the entrepreneurship practitioners on the ground.
Nezameddin Faghih, Amir Forouharfar

Strategic Entrepreneurship: Dynamics and Mechanisms

Economic Development at G7 Country Level: TaxonomyTaxonomy of Economic Development Ranking and Proposition of a Strategic EntrepreneurshipStrategic entrepreneurship (SE) Model of Development
Today, strategic entrepreneurship has been purposefully solidifying the entrepreneurial activities in each industry to obtain sustainable development. The strategic management philosophy can be applied to the nexus of entrepreneurship, innovation, and economy to foster development and competitiveness in the entrepreneurial sector. Also, the pivotal elements of the strategic management model can be replicated with the critical components of entrepreneurship along with the integration of indices of innovation and economy. Performing a development analysis during such replication modeling allows us to understand and anticipate economic behaviors with the final aim of implementing competitive strategies for a robust economy. The primary objective of this chapter is to introduce a strategic entrepreneurship theoretical model with the use of taxonomic analysis to rank the Group of Seven (G7) countries regarding their development factors. The main data consist of two indicators from Global Entrepreneurship Monitor (GEM)—physical infrastructure and internal market dynamics—and four indices from Global Innovation Index (GII)—infrastructure, market sophistication, business sophistication, and creative goods and services. The methodology includes performing a numerical taxonomy on the GEM indicators and GII indices to calculate a development factor for each G7 economy. The results consist of development ranking of the G7 economies, from 2015 to 2019, in two separate cases: one set of results without the consideration of GDP in the taxonomic analysis stages, and another set of results with the consideration of GDP. The strategic entrepreneurship framework demonstrated in this study suggests strategic choices that policymakers, business executives, and stakeholders in innovative technologies, can make to achieve and maintain a top-notch competitive advantage.
Nezameddin Faghih, Parsa Bandamiri, Mahshid Sazegar
A Study on the Impact of the Fourth Industrial RevolutionFourth Industrial Revolution and Big DataBig data on Human ResourcesHuman resources in Italian Companies
The Fourth Industrial Revolution poses new challenges and increasing market competition for human resources required with new skills. This chapter examines the impact of Big Data on Human Resources in 38 companies and 3 universities in the Emilia-Romagna region. Companies were divided into two main groups: leading companies in the region that use or produce Big Data and Analytics and Information and Communications Technology (ICT) companies that offer services related to Big Data. Through interviews and questionnaires, it was possible to identify certain challenges faced by companies and territorial strategies required to improve the skills and retain their human resources. This includes the need to channel and adequately blend tacit knowledge with the new codified knowledge born out of the enabling technologies, to increase employee loyalty and membership towards the company to minimize attrition to competition.
Lucio Poma, Haya Al Shawwa
The Logic of Production in the Informal EnterprisesInformal enterprises: The Case of Bolivia and Its Implications for the Public PolicyPublic policies
The informal sector has been the subject of research and study of economic science for more than five decades since Hart defined it in 1973. In this sense, the logic of production of informal companies has been a subject of wide discussion due to the structure of productive heterogeneity in developing countries. Accordingly, the chapter investigates the production logic of informal companies, differentiating it from the production logic of traditional capitalist companies. According to this, a different form of production emerges against the capitalist one whose main objective is not the accumulation of capital, but the satisfaction of basic needs and recognition of members in the informal productive unit; thus showing itself as an antithesis of conventional capitalist accumulation logic. To achieve this objective, the chapter addresses the case of informal commerce and service companies in Bolivia, a country characterized by a strong presence of informal sector in its economy.
Leon Dario Parra Bernal, Milenka Linneth Argote Cusi

Strategic Entrepreneurship: Concepts and Theories

A Metaphorical Approach to the Fundamental Grounds in Strategic TimingStrategic timings: A Contribution to the Ontological Perception, Axiological Evaluation, and Epistemological Classification of Timing in Strategic ManagementStrategic management
The chapter concisely focused on addressing the fundamental grounds of strategic timing. Since timing is the result of our cognitive faculty, the chapter has used cognitive metaphors with a philosophical approach to discuss the ontology (being), epistemology (knowledge), and axiology (evaluation) of strategic timing as its objectives. The ontologically cognitive perception of time provided the necessary grounds to attribute contextual, contingent, comparative, directional, futuristic, optimal, progressive, and perspectival characteristics to strategic timing. Moreover, the epistemological discussions of strategic timing with the intention to provide a solid classification for strategic timing led to the 5Ps of strategic timing: predictive timing, preventative timing, preemptive timing, proactive timing, and promotive timing. All the 5Ps had an early but a futuristic orientation since all of them try to respond to the strategic time contingencies in advance; that is before its emergence on the ground. Additionally, the chapter analyzed and unfolded the axiological methods of strategists for evaluating the most optimal and fittest timing under either intuitionist or positivist approaches of timing evaluation. Finally, the chapter ended with the recommendation of a Strategic Timekeeping System (STS), analogous to the scientifically proved mechanism of the brain, for the timekeeping to benefit the pluralist and all-embracing knowledge of competent organizational strategists from different strategic backgrounds, contexts and expertise to be able to deal with not only ever-changing but also uncertainty-stricken temporal issues of the strategic management in our time. The intention behind STS was organizing the collective endeavor of the strategists within all the departments of an organization to acquire an insightful synergism that potentially leads to a competitive timing with the highest harmony, adaptability, and decisiveness, which could result in a maximum strategic timeliness, flexibility and swiftness, respectively.
Amir Forouharfar
Going on a Quest for Social and Humane Intentions Within Strategic EntrepreneurshipStrategic entrepreneurship (SE): A Systematic Literature ReviewLiterature review Approach
This chapter proposes a systematic literature review of Strategic Entrepreneurship (SE), aiming to improve the existing understanding of the issue, with reference both to the development of the notion over the time and the way it relates to other fields of study, like Social and Humane Entrepreneurship. For the purpose of this investigation, Scopus and Web of Science (WoS) were used as databases. 183 articles (93 full papers and 90 abstracts) were finally selected and examined according to the following analytical categories: (1) Years in which the articles were published; (2) Countries where authors have published research on strategic entrepreneurship; (3) Journals in which authors have published their research; and (4) Type of adopted methodology. A thematic analysis of the literature was subsequently performed in order to answer the following research questions: How has the concept of SE evolved since its first appearance in management research? In what areas of knowledge was SE more extensively investigated so far? How does SE relate to other concepts like Social and Humane Entrepreneurship?
According to the research findings, a growing interest in strategic entrepreneurship has been developing for the last 20 years, especially with reference to the two main areas of knowledge: Innovation and Knowledge Spillover. By contrast, SE was never examined in the field of humanistic management, and never referred to firms’ simultaneous pursuing of both economic and social aims. In order to fill the existing gap, an integrative framework for further research was finally proposed.
Canestrino Rossella, Magliocca Pierpaolo, Bonfanti Angelo, Castellani Paola
Corporate Entrepreneurship Strategy Strategies and InternationalizationInternationalization: A Literature ReviewLiterature review
In recent years, the number of research papers concerning entrepreneurial activities carried out by organizations and companies has notably increased. In many cases, this rising interest has been associated with studying organizational performance based on the elements of the Corporate Entrepreneurship Strategy (CES). This has not been the case, however, in the field of internationalization processes. The purpose of this chapter is to analyze the specific impact of CES internal elements on the outcomes of these internationalization processes. The most relevant papers on this topic are examined based on a systematic literature review. The positive effect of these elements on the internationalization outcomes of the organizations is shown.
Pedro Baena-Luna, Juan A. Martínez-Román, Francisco Liñán
Defining, Measuring, and Developing Social EntrepreneurshipSocial entrepreneurship Skills: A Crucial Element of Social EntrepreneurshipSocial entrepreneurship Strategy Strategies
In this theoretical and conceptual chapter, we attempt to answer the questions: What are the essential skills of social entrepreneurship? How can these skills be measured in a way that permits them to be developed? How can the answers to these two questions be used to develop successful social entrepreneurs? We posit a conceptual framework for developing social entrepreneurship skills, identify the skills that must be developed, and offer a tool for guiding the development process through a clinical skills assessment. We conclude by discussing the implications of this approach for social entrepreneurship development/education and strategy.
Thomas S. Lyons, Caroline Campbell
How Strategic EntrepreneurshipStrategic entrepreneurship (SE) Benefits Public AdministrationPublic administrations: A Potential Application of Complexity TheoryComplexity theory
Sustainable development is a tool to build shared prosperity for today and future societies. This chapter studies the correlation between features of public administration and sustainable development. The aim is to outline the role of strategic entrepreneurship in public administration through the lens of complexity theory from a critical perspective. From the perspective of the epistemological dimension of complexity, the multiple linear regression (MLR) analysis is used to assess the correlation between three features of public administration (effectiveness, accountability, and inclusiveness) and levels of prosperity delivered in 102 selected countries, as well as their correlation with entrepreneurship. Based on the findings, effectiveness and accountability are of great importance, and strategic entrepreneurship appears as an emergent attractor characterizing how an administration works to build up prosperity. The results will help public policymakers and planners build sustainable capacity to improve public administration performance and facilitate the path of prosperity for societies.
Nazak Nobari

Strategic Entrepreneurship: Practices

The Strategic EntrepreneurshipStrategic entrepreneurship (SE) Pitching on Crowdfunding PlatformsCrowdfunding Platforms: A Traction Toward Emerging Advanced Technologies
The emerging technologies such as virtual reality, artificial intelligence, machine learning, 5G, internet-of-things (IoT), and other technological advancements are drastically shaping different industries, including entrepreneurs and their businesses, as well as the investors of entrepreneurial firms. Consequently, a growing number of entrepreneurs have incorporated these technological advancements (henceforth called advanced technologies) in their start-up ventures seeking investment from crowdfunding platforms. Due to the complex and emerging nature of these advanced technologies, little is known about whether involving these latest technology transformations in a crowdfunding project could create a strategic advantage over other projects in their conversations about funding acquisition with the general public.
Through the empirical analyses of project descriptions and success rate from the data of two leading crowdfunding platforms, we analyzed the strategic importance of highlighting a single or multiple trendy topics on the funding outcomes—both the amount of funding pledged and the additional dollars pledged to a project. Our results suggest that crowdfunding projects featuring a trendy technology transformation are likely to achieve more funding, thus a better success rate of the project proposal, compared to the non-trendy projects. This relationship appears to be highly significant on Kickstarter and marginally significant on Indiegogo. Such findings expand the current theoretical understanding on technological crowdfunding and provide strategic implications for the entrepreneurs in term of the composition of their fundraising conversations.
Yilong “Eric” Zheng, Sarfraz A. Mian, Yiru Wang
Technology-Based Entrepreneurship: Venture Inception, Entrepreneurial Aspirations, and Background
Technology-based entrepreneurship has been studied from a range of perspectives. However, this research area still needs further development. We conducted qualitative analysis of seven cases of start-ups in the Spanish entrepreneurial ecosystem. To do so, we have conducted semi-open interviews, the information from which we have contrasted with data from the venture’s website in order to triangulate the information. Our aim was to detect relationships between the background and aspirations of entrepreneurs and the inception type of their ventures. Here, inception type refers to the system or structure within which an entrepreneur chooses to develop a venture. The results show that novice entrepreneurs accumulate a strong industry background but lack entrepreneurial experience and business knowledge. Hence, they usually choose to nurture their ventures within a business ecosystem. By contrast, habitual entrepreneurs already have entrepreneurial experience in the sector, so they fit more closely with the theoretical concept of the ‘garage’ or lone entrepreneur.
Virginia Simón-Moya, Maria Orero-Blat, Domingo Ribeiro-Soriano
Innovation StrategiesInnovation strategies for Strategic EntrepreneurshipCompetitive strategic entrepreneurship in Ever-Increasing Turbulent Markets
Strategic entrepreneurship is an activity that enables the firms to take advantage of important opportunities or to cope with consequential environmental threats. Innovation is one of the critical elements of strategic entrepreneurship that supports strategies of firms to achieve and/or sustain competitive advantage in turbulent markets. This contribution presents different innovation strategies for strategic entrepreneurship to increase and/or sustain competitiveness and performance of firms in markets, and also to clarify how strategic entrepreneurship could be accompanied by crisis management.
Mario Coccia
Growth Loops: From Perceptions of Growth to Motivations for Growth in High-Growth Women-Led Entrepreneurial FirmsWomen-led entrepreneurial firms
The growth of a firm depends on its adaptability (Barringer et al., J Business Ventur, 20(5): 663–687, 2005), or, in other words, on the evolution of its business model and its capacity to generate a flow, if not of innovations, then at least of innovative suggestions shared throughout the employee corpus (Foss & Saebi, J Manag, 43: 200–227, 2017). Amongst the factors at the origin of this flux, we should mention, in particular, the entrepreneurs’ regulatory role, and interactions between the head of the firm and employees based on the way in which they steer the company (Redien-Collot & Radu, Handbook of research on strategic management in small and medium enterprises, 2014; Fust et al., Entrepreneur Res J, 8(2): 1–11, 2018). The entrepreneurs’ growing cognitive skills in applying performance monitoring systems are rarely questioned. This study concludes that, for a significant sample of women founders and heads of high-growth firms, there are three steering options generating three types of fairly remarkable swathes of innovative propositions on the part of employees. Two of these steering models present fairly radical socio-cognitive breaks with traditional models. In view of these results, it is impossible to see female leadership as a single (repressed) alternative to masculine models of entrepreneurial success. Women entrepreneurial emancipation has several implications in the understanding of the strategic deployment of their firms. This research explores how the spirit of emancipation drives women’s entrepreneurship, including their strategic choices and the freedom to innovate experienced by their employees.
Renaud Redien-Collot
Rethinking Strategic Entrepreneurial SuccessionStrategic entrepreneurial succession: Unfolding Hidden Aspects of the Entrepreneurial FamiliesEntrepreneurial families’ Iceberg
This chapter elaborates on the metamorphosis from the traditional family enterprise to the strategically innovative family enterprise. The shift from a traditional understanding of succession to a more innovative way of understanding succession is also addressed in this chapter. Succession is not analysed from a rational, conscious and objective perspective, but rather from an innovative, reflective, open and creative one. The chapter concludes with a recommendation to rethink the widely adopted iceberg analogy used in understanding the perceivable and hidden processes in succession. The strategically innovative thinker in an era of new Renaissance, who places the individual person at the forefront embracing creative ignorance, flips the traditional iceberg bringing all that is not visible to the forefront, placing human beings and the family subsystem at the centre of comprehension and knowledge.
Roberta Fenech
Strategic Entrepreneurship
Prof. Nezameddin Faghih
Amir Forouharfar
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