Strategic Entrepreneurship: An Approach to Sustained Growth in Emerging Markets

Strategic Entrepreneurship is one of the newest terms recently introduced in strategic management literature which suggests that new as well as established firms need to be simultaneously entrepreneuric and strategic to survive and thrive in today's competitive landscape. While effective practice of strategic entrepreneurship is rapidly becoming an organizational imperative for companies, much remains unknown about why some firms can successfully pursue strategic Entrepreneurship while others struggle. Keeping this in view, this paper discusses different dimensions of Strategic Entrepreneurship and provides guidance to the corporations for engaging in opportunity-seeking and advantage-seeking behaviors simultaneously to succeed in emerging markets. Entrepreneurial mindset, learning culture, strategic resource management, innovation and creativity and strategic leadership are important dimensions of Strategic Entrepreneurship. The firms that can simultaneously initiate and monitor activities that vary between creative opportunity-seeking and precise advantage-seeking are better positioned to achieve superior performance in emerging markets. However, corporations need to be flexible in their strategic thinking to find the right space, the right strategy and the right business model in the emerging markets.