Strategic Entrepreneurship in Forming Temporary Competitive Advantage Resulting in Value Creation - Dissertation Example

The existence of competitive strategies is common everywhere today because of the tough competition, particularly in the realm of business. Strategic entrepreneurship is one detailed subject in this area, where strategic management perspectives are present in order to pursue sound and excellent entrepreneurship for an existing firm’s competitive advantage, the very reason why many studies surface in order to understand why other firms generated successful performance and others do not (Rezaian and Naeiji 3).   

            Strategic entrepreneurship is a common theme especially in the age of the global economy, by which the organizations have the chance to explore a vast stretch of the market area. Competition has become so tough, but one ultimate way out in order to make a difference is to secure a move towards strategic entrepreneurship to achieve competitive advantage. This is relevant to some existing companies at present where they initiated the global strategic alliance for instance in order to define the more critical points of doing entrepreneurship that would make a difference in their industry or specific market niche. They have a strong orientation towards competitive advantage and wealth creation (Rezaian and Naeiji 4). Concerning this point, innovation in entrepreneurship has therefore become a new existing area for exploration in the field of strategic management (Oliver 7).

The bottom line of some firms’ ultimate move for competitive strategies is to increase their market share, which in general is an essential indicative factor of the achievement of competitive advantage.

            Competitive strategies for the achievement of competitive advantage have long been an essential topic in the business world because when investors and stakeholders employ them they would have the opportunity to possess a stronghold in the market, particularly when they generate their competitive edge, create wealth, initiate product leadership and achieve financial and economic return (Luke, Kearins and Verreynne 314). They would have the chance to initiate an intense force that at some point would try to create a remarkable impact on their prevailing competitors, rival firms, and the new market entrants.

It is for this reason that studying competitive strategies and competitive advantage and integrating them into the concept of strategic entrepreneurship has triggered substantial attention. Many studies have already set for further explorations regarding this concern (Rezaian and Naeiji 3). These studies have promoted us with some essential suggestions at the entrepreneurial level.

            A vast red ocean has become widely explored based on Porter’s relevant basis of his formulation of competitive strategies, for outperforming competitors (Porter 34). As many key players try to take part in the competition in an industry, there is a high inclusion of competitive strategies (van Rensburg 15). Innovation for instance has become the major key indicator of formulating competitive advantage (Oliver 7).