A theoretical overview of the interactions between entrepreneurship and strategic management

This work provides a useful emphasis on the interactions between entrepreneurship and strategic management. The causes of individual entrepreneurial action and strategic management process constitute the primary interest of the researcher. Both the individual entrepreneur and the environment as it relates to the motives of individual entrepreneurial behavior are considered. Strategic management is the process of assessing the corporation and its environment in order to meet the long-term objectives of the organization. It refers to the series of decisions taken by management to determine the long-term objectives of the organization and the means to achieve these objectives. Once a mission has been established, strategies are developed to pursue it. An organization must develop a form of strategic management to control these strategies. Through strategic management, an organization can handle its mission while at the same time assessing the relationship of the organization to its environment. The convergence of entrepreneurship and strategic management is being driven partly by time and responsiveness – speed of innovation and actions taken in the marketplace.