Strategic Management's Potential Contributions to a Theory of Entrepreneurship

Abstract

The article offers an overview of strategic management and its various schools of thought, followed by a summary of the field of entrepreneurship and its own disagreements over definition and boundaries. It suggests that strategic management might help resolve such disagreements through its focus on “the entrepreneurial work of the organization,” which is based on variables that describe the organization's industry, resources, processes, and strategy. Finally, the article both describes and proposes contributions of strategic management to entrepreneurship theory, specifically addressing issues of new business creation, innovation, opportunity seeking, risk assumption, top management teams, and group processes in strategic decisions.