Identification of domains for a new conceptual model of strategic entrepreneurship using the configuration approach

Abstract

PurposeThe aim of this paper is to structure and synthesize the existing scholarly works in the young and emerging field of “strategic entrepreneurship” (SE) as well as to develop a theoretical model, thereby contributing to further theory‐building.Design/methodology/approachAs the results of a review of extant literature, four different elementary domains conceptualizing SE on the basis of the configuration approach could be identified: the strategy, the entrepreneur, the environment and the structure and resources of the firm.FindingsThe SE model contributes to the understanding of how firms can create value. It has been shown beforehand that the configuration approach is suitable for strategic management as well as for entrepreneurship in the sense of new venture creation and arguably can be transferred to the larger level of SME strategy as well.Research limitations/implicationsWith the four dimensions of SE, this paper has so far only been able to deliver a starting point for further research which (empirically) investigates their interplay and attempts to derive “optimal configurations” of the dimensions, e.g. with regard to different firm sizes and environmental conditions. This empirical part is still outstanding.Practical implicationsThe major managerial implication of the SE approach is the possibility to develop more entrepreneurial and innovative thinking, especially in SMEs and young ventures. This stands in contrast with classical strategic management approaches, which characteristically emphasize administrative management and focus on day‐to‐day business.Originality/valueThis paper is the first to model SE by using the configuration approach, thereby providing a solid theoretical foundation for future empirical research.