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Entrepreneurial venture
Primary goals profitability and growth Characterized by innovative strategic practices
Differences
Not in types of goods and services but in Fundamental views on growth and innovation
Entrepreneur
Ultimate strategist All 3 levels
However, a survey of the high growth Inc.500 firms revealed that 86% performed strategic planning and 94% of those reported improved profits.
Degree of formality
Process far more informal in small companies than in large corporations
Decide go or no go
Opportunity to go
Advisory Boards
External business people voluntary Discuss strategic and other issues
Entrepreneurial Characteristics
Identify opportunities better Sense of urgencyaction oriented Detailed knowledge-physical stamina Access to outside help