Social vs. Strategic Entrepreneurship

Strategic Entrepreneurship is the pursuit of innovation using tools and concepts from strategic management. Micah gonna make dat monayyyyyyyy

The fundamental question for strategic entrepreneurship is how to combine entrepreneurial actions, creating new opportunities or exploiting existing ones, with strategic actions taken in the pursuit of competitive advantage.

Example: Samsung

Samsung’s continuous innovation of mobile devices is an example of strategic entrepreneurship because they utilize strategic analysis, formulating and implementation when deciding which new technologies to research and develop into their mobile phones. Each new release is an innovation, and therefore an act of entrepreneurship, planned and executed using strategic management concepts.

Social Entrepreneurship is the pursuit of social goals using entrepreneurship through the triple-bottom-line approach.

Example: Wikipedia

Jimmy Wales, the founder of Wikipedia, vision was to make the entire repository of human knowledge free and available to anyone, anywhere. In the early 90s this was a revolutionary idea as Wales was one of the first to grasp the power of an open-source method to provide knowledge on a very large scale. This idealism is a form of social entrepreneurship and is what differentiated Wikipedia from the rest of the encyclopedia industry.

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