Abstract

There has been a recent increase in interest and research in strategic entrepreneurship (Hitt, et al, 2001; Meyer et al, 2001), and some argue the domain of entrepreneurship is being subsumed by the field of strategic management (Baker & Pollock, 2007). This study investigates this alleged takeover. We assert that during the early years of the strategy and entrepreneurship fields, the rate of change in the marketplace was such that static models worked reasonably well for established firms, and thus the field of strategy concentrated its attention on efficiency models to explain performance variance among firms. During these nascent and emerging years the field of strategy focused primarily on resource and environmental factors as determinants of firm performance, while entrepreneurship focused on innovation, opportunity recognition, and the determinants of new venture creation, such as the traits and characteristics of the entrepreneur. As the rate of change in the marketplace increased, driven by technological innovation (von Hippel, 1988; Christensen, 2002), the existing static strategy models became less effective. When the rate of change reached the point of hypercompetition, characterized by unstable markets, entrepreneurial advantage, adroit management of fluid, short-term factors in increasingly volatile markets (D’Aveni, 1994; Thomas, 1996; Hamel, 2000), strategy scholars began turning to entrepreneurship concepts, such as innovation, resourcefulness, and opportunity recognition, to explain variance in firm performance. In the years since, the field of strategy has exhibited the characteristics of a hostile takeover of the domain of entrepreneurship.

Share

COinS