Example Of Research Paper On Strategic Entrepreneurship

It can be defined as organization’s activities in search of a higher and strong performance through opportunity looking and advantage seeking activities. In this case, we consider ‘The Blue Ocean Strategy applicable in Colorado wines industries’. Both large and small organizations are faced with challenges while undertaking strategic entrepreneurship. For an instance, small and upcoming firms may have the best opportunity seeking ideas and skills; they lack necessary knowledge and awareness about stocks and the power to enter into the market (Wickham and Dawson, 2006). Large firms, in their case are better skilled at establishing a strong competitive advantage, but they concentrate on the efficiency and effectiveness of their current business, which usually undermines the exploration of new and additional opportunities ability. Through the studies of different theories and other related researches, it has been known that if the combination of these two firms come into effect they can overcome their respective challenges and achieve their goals. It involves sharing the new ideas, knowledge opportunities and expertise through collaboration innovation (Hitt, 2007). Therefore, small and large entities will get the knowledge of how to mix strategic entrepreneurship and innovation to achieve their specific objective.

Illustration:

Blue Ocean strategy is used as an example, which should be adopted by the Colorado wine industries. In the wine market, it is known that the competition is very stiff; hence, they will experience stalled demand and risk high costs of marketing and advertisement from the research (Hitt, 2007). It was noted that there was no need of the following:

Heavy advertisement and marketing investments and expenses

There is no difference in the product, whether white or green it is still wine
The capability distinction of the resource is insignificant and has no added advantage.
Partnering with local brewers who brew liquor without packaging and have resources (Wickham and Dawson, 2006). This strategy will give them an advantage since they have:

A ready market without incurring heavy investments

Changing the mentality and perception of consumers about the wine products
Luring a non-wine consumer

References

Hitt, M. A. (2007). Strategic entrepreneurship. Malden, Mass.: Blackwell Pub.
Wickham, P. A., & Dawson Books. (2006). Strategic entrepreneurship. Harlow: Financial
Times Prentice Hall.