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Importance Of Strategic Entrepreneurship

3763 Words16 Pages

Strategic entrepreneurship increase innovation, competition, employment, and economic development

Alireza Takhtshahi1, Fakhraddin Maroofi2
1Department of management, Humanities College,Sanandaj branch, Islamic Azad University, Sanandaj, Iran, a.t.1396@chmail.ir
2Department of business administration, university of Kurdistan, Sanandaj, Iran
Corresponding author Email: maroofif2900@gmail.com

Abstract
Strategic entrepreneurship is predicated on the combination of entrepreneurship and strategic management. Strategic entrepreneurship could be a new approach in management literature. Moreover, today 's business world needs an orientation towards strategic entrepreneurship. Strategic entrepreneurship is a necessity for corporations to form most …show more content…

This environment becomes difficult day by day and organizations/companies should adapt to the present change. The dynamic business world needs new views to be competitive. Today 's complicated environment outlined with such ideas as hyper-competition power, originality, speed, aggression, ability, and suppleness. These ideas additionally replicate the sector of entrepreneurship. Therefore, today 's corporations could be versatile, strategic and entrepreneurial. About this matter, several scientists within the literature discuss toconsolidate of entrepreneurship and strategic management and believe that entrepreneurship and strategic management associated with making wealth and that they should combine. During this sense, we tend to meet with the strategic entrepreneurship approach that may be a new field for business and management literature. Strategic entrepreneurship predicated on the mixing of entrepreneurship and strategic management (Lin, & Hu, 2007). Strategic entrepreneurship shaping the entrepreneurial activity with a strategic perspective emphasizes the importance of managing the entrepreneurial sources or activities strategically to urge the competition advantage (Habbershon, Williams, & MacMillan, 2003). Entrepreneurial action outlined as "strategic actions completed with associate degree entrepreneurial mentality". Strategic entrepreneurship outlined as "the proven fact that entrepreneurial and strategic …show more content…

* Strategic management, a management technique allowing the evaluation of internal and external environment of the organization enables the analysis of strengths and weaknesses of the internal structure of the organization itself. Also, strategic management allows determining the status of the organization against other organizations. In short, the sources of organization, strengths and weaknesses, opportunities and dangers in the external environment are specified and analyzed with strategic management.

* Strategic management helps "strategic thinking". In this sense, the truest tactics and strategy are tried to be determined and they are applied.

* Strategic management utilizes competition and portfolio analyses in creation and selection of strategies. The purpose of portfolio analyses is to help the organization make more rational decisions in such matters as staying in or pulling out of the market or merging with other firms.

* Strategic management highlights the importance of the fact that an organization based on the team work can reach its goals. Determining the strategies are performed with a wide participation in top management and the most optimal decision-making technique for the firm is selected.

* Strategic management helps determining and solution of the problems in the organization most efficiently. In this regard, total quality management techniques are utilized on

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