Improving firm performance through entrepreneurial actions: Acordia's corporate entrepreneurship strategy

Abstract

Executive Overview As the 21st century unfolds, entrepreneurial actions are viewed as critical pathways to competitive advantage and improved performance. One company in the healthcare management Held, Acordia, Inc., developed and prospered through its strategic entrepreneurial vision. In the words of Acordia's CEO, Frank C. Witthun: “2000 was another landmark year for Acordia, with important acquisitions, innovative new products, and the foresight of sound, strategic planning fueling our impressive growth. It is our expert vision that has brought us to this point: a vision of what a brokerage firm can and should be in the new millennium, and our expertise in delivering innovative products and services to our clients in a way that not only exceeds their expectations, but fundamentally changes them.” Starting in 1986, entrepreneurial actions were instrumental to how Acordia has conducted business over the last 15 or so years. We use insights from the academic literature and business press as the framework for the story of how one company was able to use entrepreneurial actions as the foundation for its successful corporate entrepreneurship strategy.