Integrating entrepreneurship and strategic management actions to create firm wealth

TLDR

Creating wealth is central to entrepreneurship and strategic management, with activities spanning innovation, networks, internationalization, learning, leadership, governance, and growth. The study aims to classify entrepreneurial and strategic insights as actions and examine how integrating them can enhance wealth creation. The authors classify insights into entrepreneurial and strategic actions and analyze their integration for wealth creation.

Abstract

Creating wealth is at the heart of both entrepreneurship and strategic management. For general managers and entrepreneurs, a keen interest is to learn how to apply entrepreneurial and strategic tools, techniques, and concepts in ways that help the firm create increasing amounts of wealth. Many of the activities that organizations engage in to create wealth take place within six domains: innovation, networks, internationalization, organizational learning, top management teams and governance, and growth. Importantly, the entrepreneurship and strategic management literatures have insights for entrepreneurs and general managers about the value to be gained by paying attention to these six domains. We describe how these insights can be classified as entrepreneurial and strategic actions, and discuss how greater wealth can be created when firms integrate these actions when seeking to create wealth.