The logic of strategic entrepreneurship

Abstract

In this essay, I attempt to clarify the construct of strategic entrepreneurship from a new angle. By comparing the ideal-type theory of strategy without entrepreneurship with the ideal-type theory of entrepreneurship without strategy, I shed light on what it means to combine the logics of entrepreneurship and strategy and illustrate the value of their complementarity. The key insight is that entrepreneurship is blind without strategy and strategy is paralyzed without entrepreneurship. I further argue that many proponents of strategic entrepreneurship and action-based theories of strategy have prematurely given up on the idea of sustained competitive advantage. Disequilibrium and uncertainty do not automatically mean that no predictable and stable patterns can be relied upon for sustained competitive advantage.