STRATEGIC ENTREPRENEURSHIP

TOPIC 11DR ANIS AMIRA AB RAHMAN

EZANI BIN YUSOFF

FACULTY OF ENTREPRENEURSHIP AND BUSINESSUNIVERSITI MALAYSIA KELANTAN

anisamira@umk.edu.my

Dr Anis Amira Ab Rahman 14

CHALLENGES AND CURRENT ISSUES IN STRATEGIC ENTREPRENEURSHIP

Dr Anis Amira Ab Rahman 14

Challenges in Strategic Entrepreneurship

Sources: Hitt, M. A., Ireland, R. D., Sirmon, D. G., (2011)

Creating new technology and innovation is crucial for many firms, regardless of their size or age (critical to break into an established market or to create a new market, developing a product that is highly differentiated from existing products and one that creates substantial value for customers).

To build new economic, social, institutional, and cultural environments and thereby provide significant benefits to society.

To understand the ways in which criminal law and official regulations affect the activities of business.

The investor find the venture’s potential attractive (the skills and experience of the venture’s key people and their ability to deliver the potential that the venture has).

Challenges of Growth

There is a set of challenges that affect all stages of a

firm’s growth. Furthermore, the challenges illustrate that

no firm grows in a competitive vacuum.

As a business grows and takes market share away from

rival firms, there will be a certain amount of retaliation

that takes place. This is an aspect of challenges that an

entrepreneur needs to be aware of and plan for.

Source: Hitt, M. A., Ireland, R. D., Sirmon, D. G., (2011)

Sources of Challenges

Sustaining Competitiveness

The entrepreneur must be on their guard as to the

ways in which competitors might gain the advantage,

and be aware of these when they are developing

their strategy.

Therefore, the strategy must be built on a competitive

advantage which can be sustained. The decisions

which relate to developing competitive advantage can

be made based on these questions.

…….continue

Future Research

Source: Kyrgidou, L. P., Hughes, M. (2010)

Summary

The issues and challenges in strategic entrepreneurship

are important for future research. Future research also

provides a contribution to the strategy and increase

value in the acquiring firm.

Therefore, issues and challenges in strategic

entrepreneurship are valuable knowledge that can help

entrepreneurs to implement the best strategy and

concern for a new issues offer to minimize the rates of

failure in business.

References

Hitt, M. A., Ireland, R. D., Sirmon, D. G., & Trahms, C. A. (2011). Strategic entrepreneurship: creating value for individuals, organizations, and society. The Academy of Management Perspectives, 25(2), 57-75.

Hitt, M. A. (Ed.). (2002). Strategic entrepreneurship: Creating a new mindset (Vol. 1). Blackwell Publishing.

Histrich, R. D., Peters, M. P., & Shepherd, D.A. (2013). Entrepreneurship. McGraw Hill.

Kyrgidou, L. P., & Hughes, M. (2010). Strategic Entrepreneurship: Origins, Core Elements and Research Directions. European Business Review, 22(1), 43-63.

Morris, M. J. (2001). Starting a successful business. Kogan Page Publishers.

Mulyawan, I., & Saefulloh, D. (2013). Street Vendor In Entrepreneurship Perspective: Characteristics, Motivation, and Business performance. International Journal of Innovations in Business, 2(5), 416-443.

UiTM Entrepreneurship Study Group. (2005). Fundamentals of Entrepreneurship. Prentice Hall.

Wickham, P. A. (2006). Strategic Entrepreneurship. Pearson Education.