Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1014512 | Business Horizons | 2009 | 11 Pages |
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.
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Authors
R. Duane Ireland, Justin W. Webb,