Entrepreneurial strategy making in tourism organisations: a systematic review and future research agenda

PurposeUsing a state of the art CIMO literature review the paper develops a framework of the relationship between strategy making in the small tourism firm context and four performance outcomes.Design/methodology/approachThe paper uses the CIMO literature review method, adapted from the wider management literature to structure and integrate the existing fragmented literature base.FindingsPremised on the literature review, a framework of the relationship between strategy making and firm performance in context is posited. Emerging from a dominant owner/manager in a deeply embedded context strategy making influences firm performance across four dimensions. The influence is dynamic, continually subject to modification in a changing environment often mediated through emerging technology.Research limitations/implicationsThe CIMO method provides an integrated framework of the relationship between strategy making and small firm performance in context hence overcoming limitations of the fragmented nature of the research landscape. Emerging from the review key future research trajectories is posited.Practical implicationsWhile highlighting the relationship between strategy making and performance, the proposed framework implies owner/managers play the key role in strategy making with opportunities and challenges in modifying existing strategy making emerging from owner/manager embeddedness. Opportunities for improved policy interventions are posited.Originality/valueThe paper applies the systematic review to the relationship between strategy making and the small tourism firm.

The Role of Entrepreneurial Strategy-Making Dimensions towards Internet Business Performance in Malaysia

Internet business today is facing major transformations due mainly to increased competition, changes in consumer behaviour, and technological advancements. As Internet business is an important growth engine in Malaysia nowadays, a potential of a good entrepreneurial strategy-making (ESM) can be discovered to develop Malaysian Internet business. Besides, ESM is recognised as the driver of growth and profitability. Thus, this paper aims to develop a conceptual framework related to the role of ESM dimensions, which is the role of innovativeness, proactiveness and risk-taking towards organisational performance of Internet business in Malaysia. As such, this article includes a discussion of the background and the uniqueness of the Internet business and highlighting the role of entrepreneurial strategy-making (ESM) dimensions that have a relationship towards organisational performance of Internet business. The paper concludes with implementation of effective strategy-making that can benefit the Internet entrepreneur in future.

How do Firms with Management Ability Promote Competitive Advantages? An Integrated Model from Entrepreneurial Strategy Making and Internal Resources

This study explores whether managerial ability (MA) promotes firms’ competitive advantages (CAs). By combining data collected through a questionnaire survey and a secondary database from 181 public firms in Taiwan, the results show that superior MA enhances CAs. Moreover, this research presents the mechanisms of value and rareness and offers evidence that MA promotes CAs through these mechanisms. More importantly, this research further finds that entrepreneurial strategy making (ESM) positively strengthens these mediated effects such that the indirect effects are stronger when ESM is strong rather than weak.

Peran Strategic Entrepreneurship dalam Membangun Sustainable Competitive Advantage

Strategic entrepreneurship has emerged as a new concept in examining convergence in entrepreneurship studies (opportunity-seeking behavior) and strategic management (advantage-seeking behavior). Studies in the area of strategic management have gradually exposed the relationship betweenstrategic management and entrepreneurship: entrepreneurial strategy making; intrapreneurship; entrepreneurial strategic posture within organizations; entrepreneurial orientation; strategic managementintegration as a context for entrepreneurial actions; and entrepreneurship theory with strategic management and the resource-based view (RBV). A conceptual model of SE that has been developed by Ireland et al.suggested that a firm which linearly and sequentially: employs an entrepreneurial mindset to identify opportunities; manages resources strategically to tackle the opportunity; applies creativity and innovation; andgenerates a competitive advantage is strategic and entrepreneurship operation. Managers must maximize the pursuit of new business opportunities while simultaneously maximize the generation and application of temporary competitive advantages to sustainably create organizational value. This paper develops a conceptual framework that demonstrate the role of strategic entrepreneurship in building sustainable competitiveadvantage.

Strategic Entrepreneurship

Entrepreneurship deals with how firms explore new short-lived economic opportunities, while strategic management explains how firms create and defend competitive advantages. Traditionally, both fields have existed independent of one another implying that firms can act either entrepreneurial or strategic to be successful. Recent research, however, suggests that in contemporary globalism, entrepreneurial firms are often unable to turn opportunities into competitive advantages due to a lack of strategic resources and capabilities. Similarly, firms lacking entrepreneurship see their competitive advantages erode over time as new emerging market competitors challenge their established rivals and disruptive technologies shake up industry structure more frequently. Strategic Entrepreneurship is the concept that has arisen from this insight. The aim in this chapter is to synthesize prior work on Strategic Entrepreneurship and elaborate on it by proposing a generalized model of the entrepreneurial strategy making process as it has become necessary in today’s competitive landscape.