Crossing the great divide of strategic entrepreneurship: Transitioning between exploration and exploitation

R. Duane Ireland and Justin W. Webb

Business Horizons, 2009, vol. 52, issue 5, pages 469-479

Abstract: Managing uncertainty effectively is perhaps one of the most significant challenges a firm's decision makers face today. Strategic entrepreneurship--defined as exploration for future sources of competitive advantage, combined with exploitation of current sources of competitive advantage--has been proposed as a means via which decision makers can manage uncertainty. In this article, we discuss the transition between exploration and exploitation activities within organizations as a vital part of strategic entrepreneurship; this transition process can involve various types of internal firm challenges. Additionally, we highlight various sources for these internal challenges and mechanisms through which firms can overcome them.

Keywords: Strategic; entrepreneurship; Exploration; Exploitation; Transition; Competitive; advantage (search for similar items in EconPapers)
Date: 2009

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Persistent link: http://EconPapers.repec.org/RePEc:eee:bushor:v:52:y:2009:i:5:p:469-479

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