Conceptual foundations of entrepreneurial strategy: A systematic literature review

Abstract

The objective of the article is to contribute to a greater and deeper understanding of the ES conceptualisation. The relevance of the topic of Entrepreneurial Strategy (ES) stems from growing interest of society in entrepreneurship, which has become extensively discussed although the concept of ES is still poorly understood. Research Design & Methods:A systematic literature review (SLR) referring to 427 articles from the Web of Science and Scopus databases was conducted. Findings: The results made it possible to identify five ES conceptual foundations: i) economic theory and entrepreneurship; ii) entrepreneurial strategies, concept -theory; iii) entrepreneurial strategies, framework -models; iv) entrepreneurial strategies, contexts -application; and v) entrepreneurial strategies, application -metrics. Implications & Recommendations: This SLR can help to highlight the gap in theories on ES, its conceptualisation and the fundamentals found in the literature. A research agenda is suggested for each ES foundation identified. Contribution & Value Added:The study is innovative given there have been no other identified SLR studies on the ES concept. The study attempts to contribute towards the literature by offering a model of interactions of the ES foundations. Article type:theoretical article

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“…We could explain this by the fact that middle managers are closer to top managers, who are mostly responsible for formulating strategy. This can also indicate that middle managers participate in new strategy formulation (Branco, Ferreira, & Jayantilal, 2021).…”

“…We could explain this by the fact that middle managers are closer to top managers, who are mostly responsible for formulating strategy. This can also indicate that middle managers participate in new strategy formulation (Branco, Ferreira, & Jayantilal, 2021) Although training is described in the literature as an effective means of shaping proenvironmental attitudes (Zibarras & Coan, 2015), the lack of training is perceived by the respondents as a moderately important barrier to the application of green strategy. It is understandable that the company needs to have a clear strategy first (significant factor) and then organize appropriate training.…”

The business longevity of SMEs based on entrepreneurial orientation and government policies in facing disruption challenges

“…Risk-taking is the tendency to engage in bold rather than prudent actions (Xiao et al, 2022). Risk-taking is one characteristic of a strategic attitude that can bring company value (Branco et al, 2021). In general, SMEs are much more dynamic in the risk decision-making process, which is fast and flexible in responding to market opportunities and changes that often arise in the global environment than large companies .…”

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“…An essential part of current entrepreneurship studies is interdisciplinarity (Branco et al, 2021). The first studies on entrepreneurship emerged in economics, which considered entrepreneurship in comparison with uncertainty, risk, innovation, and economic growth (Khalilov, 2021).…”