Therefore, the theme of this volume is "Strategic Entrepreneurial Processes". This focus was also chosen in part because of the traditional distinction within the strategy literature between process and content (Bourgeois, 1980; Schendel, 1992a, 1992b) and the strategic focus distinguishes this approach from the entrepreneurial process model based on the works of Shapero (1975). and Krueger and Carsrud (1993). McGee asks the question "what processes do corporate parent firms use to exploit entrepreneurial opportunities?" Drawing on a unique data source—the Internet divisions of major newspaper companies—the authors examine the resources and decision-making processes involved in leveraging an entrepreneur. - nervous opportunity within an existing corporation.
ENTREPRENEURSHIP AS A STRATEGIC ADAPTATION
ABSTRACT
Entrepreneurial initiatives can play a key role in achieving a state of adaptation (Muzyka, De Koning, & Churchill, 1995). Its purpose is to clarify the process and the variables that link entrepreneurial initiatives with the realization of strategic alignment.
A MODEL OF CORPORATE ENTREPRENEURSHIP AS A STRATEGIC ADAPTATION MECHANISM
When top managers purposefully select opportunities to pursue, they contribute to defining the concept of corporate strategy. For a firm to sustain an emerging entrepreneurial initiative, it must be linked to the concept of corporate strategy (Floyd & Wooldridge, 1999).
DISCUSSION AND CONCLUSION
Third, the proposed model implies that maintaining a state of strategic adaptation requires more than creating an organizational ROBERT P. Research on corporate entrepreneurial operations as a strategic adaptation mechanism can productively focus on several thematic areas.
ENTREPRENEURIAL
OPPORTUNITIES IN THE
CORPORATION: AN EXPLORATION OF FUNCTIONAL-LEVEL SUPPORT,
PERFORMANCE
Hypotheses arguing these points are tested using data obtained from the Internet departments of major metropolitan newspapers. This allows the discovery and evaluation of an opportunity (i.e., the Internet) to be kept constant so that a better understanding of the exploitation phase of the entrepreneurial process can be obtained.
INTRODUCTION
In the case of corporate entrepreneurial initiatives, the parent company is often the first provider of the resources and competencies needed to ensure the success of the initiative. To study such contingencies, a sample was needed that allowed the isolation of corporate initiatives in the implementation phase of the entrepreneurial process.
THEORY AND HYPOTHESES
The relationship between levels of functional resource sharing and firm performance depends on the level of functional importance. These results were used separately as functional significance scores in the analyzes of the third and fourth hypotheses.
ANALYSES AND RESULTS
In the survey instrument, respondents were asked to indicate the percentage of initiative decisions that require parent company approval in each of 10 areas identified by experts as important to initiative success. It does not show the beta scores for the main effect variables for each of the functional regression equations containing interaction terms.
DISCUSSION AND CONTRIBUTIONS
The results of this research also contribute to the field's understanding of the decision-making implications of the implementation process required to exploit an entrepreneurial opportunity. As such, the effects of decision autonomy on initiative success were found to be amplified when the legal and accounting functions were more critical to the success of the business.
THE NEWSPAPER INDUSTRY: IMPLICATIONS FOR BUSINESS PRACTICE
This research contributes to a deeper understanding of these issues in the field by investigating questions by corporate functional area. Given the strong, controlled culture of this industry, embedded as it is in democratic societies, one might expect a conservative and confident response to the challenges of the Internet.
CONCLUSION
Managing for autonomy in joint ventures: A longitudinal study of upward influence. Journal of Management Studies. The relationship between environmental dynamism and small business structure, strategy, and performance. Journal of Marketing Theory and Practice.
APPENDIX A. PRE-TEST INDUSTRY EXPERTS
POST-TEST INDUSTRY EXPERTS
PROCESS OF COMBINING
RELATIONAL RESOURCES AND ENTREPRENEURIAL RESOURCES
ADVANTAGE $
For example, previous research in the context of biotechnology has found that entrepreneurial innovation occurs at the inter-organizational network level, due to the complexity of domain-specific knowledge and the rapidly growing sources of expertise involved in R&D and product/service innovation management (Powell, Koput, & Smith- Doerr, 1996). With interpreneurship, we are most concerned with the ``how'', that is, how the quality of the relationship relates not only to the focal firm's entrepreneurial capabilities (i.e., the supplier firm in the current study), but also importantly, to both partners' competitive advantage (i.e. both the supplier business units and its customers in the current study).
A REVIEW OF PERTINENT ENTREPRENEURSHIP THEORY
The three models are comparatively tested and evaluated for their ability to explain firm-level performance for both alliance members. The core idea of the resource-based view is that firms are heterogeneous in terms of the amount of productive resources they have available, and that the resulting differences in efficiency yield different returns (Barney Dierickx & Cool, 1989; Amit & Schoemaker, 1993 ; Conner, 1991; Hunt). , 2000).
STRATEGIC PROACTIVENESS
However, over the past decade the entrepreneurial orientation (EO) approach has emerged, proposing that the extent to which a company or business unit acts entrepreneurially can be viewed in terms of the organization's innovativeness, risk-taking, and proactiveness (Lumpkin &. Dess, 1996;Zahra, Jennings, & Kuratko, 1999;Covin & Sleven, 1991;Hitt, Ireland, Camp, & Sexton, 2001;Hitt & Ireland, 2000). Market proactivity3 is “an opportunity-seeking, forward-looking perspective that introduces new products or services ahead of competitors and anticipates future demand to create change and shape the environment” (Lumpkin & Dess, 2001, p. .431).
RELATIONAL RESOURCES
In addition, positive capabilities for actors in a given society, which are a direct result of the level of trust between social actors, derive from social capital (Fukuyama, 1995). Organizational commitment is one of the main factors influencing the performance of inter-organizational relationships (Anderson & Narus, 1990; Lambe, Spekman & Hunt, 2002; Dwyer, 2000), which results in the formation of organizational social capital.
HYPOTHESIS DEVELOPMENT
Hence, an interpreneurial capability results from the combination of strategic proactivity and organizational social capital. Strategic proactivity and social capital interactions can also have positive impacts on the performance of the customer firm.
ITEM MEASUREMENT
Organizational performance is a multidimensional construct, and measuring only a single dimension produces biases that affect the magnitude of the performance relationship (Lumpkin & Dess, 1996). Thus, we significantly reduce the likelihood of having a level of bias that ultimately affects the magnitude of the performance relationship.
ANALYSIS AND RESULTS
Consequently, each indicator is a multiple of the three relational social capital dimensions and two strategic proactivity dimensions. In PLS analysis, the measurement model is tested within the imposed structure of the hypothesized model (Barclay, 1991).
RESULTS
The mediation model posits social capital as a mediator between strategic proactivity and organizational performance (see Table 5). The direct effect model links strategic proactiveness and social capital directly to organizational performance (see Table 6).
DISCUSSION
However, the study finds that the quality of the close relationships between organizations (i.e. relational social capital) is a necessary, but not sufficient, condition for the competitive advantage of both organizations. Our research suggests that the combination of social capital and proactivity gives each alliance partner a competitive advantage.
IMPLEMENTING INTRAPRENEURSHIP: EVIDENCE FROM PRACTICE
The entrepreneurial skills demonstrated through the inter-organizational relationships of the above firm can best be described by the current CEO (A.G. Laftey) of P&G in their Annual Report 2006. In the old [pre-1998] structure and with past strategies , these businesses were not a priority.
NOTES
Theory and embeddedness of resource advantage: Explaining the explanatory success of R-A theory. Journal of Marketing Theory and Practice. Integrating entrepreneurship and strategic management actions to create corporate prosperity. The Academy of Management Executive.
OF INTRAPRENEURIAL STRATEGY-MAKING IN
SMALL FIRM PERFORMANCE
Intrapreneurial strategy making (ISM) is therefore a generative process (Hart, 1992) through which risky, innovative ideas are created in a dynamic way and then implemented by employees (Bourgeois & Brodwin, 1984). Such research may also be able to explain performance differences in small firms that adopt different approaches to strategy making.
THEORETICAL BACKGROUND AND HYPOTHESES DEVELOPMENT
A theoretical framework for the role of intrapreneurial strategy-making in the performance of small firms. This means that the focus of strategy making research in small firms has been on the presence or absence of a rational approach.
RESEARCH METHOD
A scale developed by Khandwalla was used to measure environmental uncertainty. The respondent's ratings on each subset of items were averaged to arrive at a single index for environmental hostility and dynamism. This paper provides evidence that the intrapreneurial method of strategy making is an approach used by small firms.
ACKNOWLEDGMENTS
Entrepreneurial strategy making and firm performance: Tests of contingency and configurational models. Strategic Management Journal. The impact of formalized strategic planning on financial performance in small organizations. Strategic Management Journal, 4, 197–207.
LEMONS: THE ROLE OF
INFORMATION PROCESSING AND STRATEGY IN MANAGING
MISPERCEIVED’’ START-UPS
Our main contention is that insights from the field of strategic management can be used to explain how the characteristics of a new venture can facilitate the dual learning ability of the entrepreneur. We suggest that by assembling TMTs with certain characteristics and using organizational structures that facilitate communication, founders enhance double-loop learning through their effects on the firm's information processing system (Hambrick & Mason, 1984; Lant, Milliken, & Batra, 1992; Meyer, 1982; Milliken, 1990; Thomas & McDaniel, 1990).
AN EXAMPLE FROM BUSINESS PRACTICE
It appointed an interim CEO, Craig Davenport, a 25-year industry veteran, to steer the company in its new direction. The business must then interpret real-time feedback, such as the inadequate conversion rates experienced by SHN and feedback from the East Coast healthcare conglomerate about the value of the company's data, to adjust their strategy.
ANTECEDENTS OF INFORMATION PROCESSING SYSTEMS
Indeed, several authors (e.g., Katz, 1992; Simon, Houghton, & Aquino, 2000) suggest that the very creation of their firms may depend on the use of these biases. In this section, we suggest that it depends on their cognitive learning style and their use of new knowledge.
STRATEGIC INFORMATION PROCESSING
The moderating role of TMT characteristics and organizational structure on information processing systems in new venture formation and performance. Functional heterogeneity of TMT may promote a double-loop learning information processing system that can correct early perceptual errors ( Lant et al., 1992 ).
PROCESS: EXAMINING THE ROLE OF ABSORPTIVE CAPACITY $
To provide a first step toward addressing this gap in the literature, we investigated 318 new firms and examined the effects of absorptive capacity on the level of product/service innovation. We conclude with a discussion of the implications of our findings for theory and future research regarding innovation management and the absorptive capacity of new ventures.
THEORETICAL BACKGROUND
All dimensions of absorptive capacity building should facilitate innovation for new ventures. Overall, our results suggest that all the absorptive capacity elements we have presented in Figs.
ENTREPRENEURSHIP
The issue of how employees actually perceive time norms and how they react to them given their individual time structures has not yet been subjected to a systematic study within the context of the CE literature. This perspective allows for an overcoming of the subjective-objective dichotomy that underlies much of the existing literature.
