Each one has its own definition and requirements. I Environmental School of Though This school of thought is related with the external factors that affect a probable entrepreneur's standards of living. These can be either positive or negative forces in the molding of entrepreneurial requirements. The hunt for seed and growth funds is the entire focus of this entrepreneurial value.
Entrepreneurship The Design school resembles to the entrepreneurial school of thought to some extent. The extent being that it took central leadership as important, making the CEO- the architect of strategy.
The difference however lies that it stopped short of working around that leadership and emphasized on conceptual framework and dismissed intuition. Entrepreneurial School of thought has however focused on the leader and the mental processes that the leader goes through such as Intuition, Experience, Insight, wisdom, and judgement.
Entrepreneurial school states that one leader has the say that makes the mare go. The organization and all the constituents of his business empire are responsive to his dictates. He moves carefully within the environment creating his own territory in the niche segment. The most central concept of this school is the vision that the leader creates.
This image is broad and the guiding star in the pursuit of which the leader takes the organization along. This may never be fulfilled and along the pursuit many other rewards are received such as expansion, profits, market share, etc.
The Entrepreneur may adapt the strategies according to the changing environment but the overall vision may remain to be unchanged.
This makes the strategy both deliberate in the broader sense and the direction and emergent in its details that can be adopted and adapted according to the requirement of the route that the organization is on.
Origin in economics The Origin of the entrepreneurial school can be traced back to the neo classical era of economics.
The concept of what to produce, how to produce, how to distribute and on what price, was attached to the birth of entrepreneurship. Different economists held different views of the entrepreneurs. Karl Marx praised entrepreneurs as agents of economic and technological change.
Joseph Schumpeter on the other hand brought into light other than profit maximization perspective of entrepreneurship. To which he related that it is also about creating new structures, destroying current ones, and solving problems creatively.
He introduced the notion of creative destruction which meant that entrepreneurs challenge the current status quo in the search of change for the better.
They do things better with creativity and innovation. This he explained as entrepreneurs making good things happen Better and unique products by employing current resources in a different way. He went to the extent that entrepreneurship ends where creativity and innovation comes to a halt.
Knight on the other hand related entrepreneurship with bearing of heavy risks and a handling of uncertainty. Peter Drucker explained entrepreneurship in the light of management explaining that central to business enterprise is the activity of entrepreneurship which means economic risk taking.
What can be concluded is the fact that an entrepreneur can be, Founder of an organization. The manager of a self owned business.
Innovative leader of an organization owned by others. This requires the leader to be able to see things that are normally missed and from multiple perspectives going back and forth and in many directions. This framework is taken from the work of Nasi It explains how the leader who makes the strategy must be able to see through multiple dimensions while making the strategy.Entrepreneurial School of Thought This school sees strategy formation as a visionary process and is fell under the descriptive school of strategic management.
The chief architect of the strategy is the CEO of a company.
This school took formal leadership seriously and CEO is responsible for strategy formulation. It stressed on mental state.
Did you know what you wanted to be when you were 21? Were you one of those "born to be an entrepreneur" types? I knew I wanted to be a journalist--that's why I attended the .
Entrepreneurial School of thought has however focused on the leader and the mental processes that the leader goes through such as Intuition, Experience, Insight, wisdom, and judgement.
This relates the strategy with a perspective that formulates a vision and a sense of direction (namely vision) and all this is related to the leader himself. Here are the 10 school of thoughts of Strategy formulation. 1) The design school. In this thought process of strategy formulation, the focus is on conception of ideas and to design new ideas.
Entrepreneurial School of Thought This school sees strategy formation as a visionary process and is fell under the descriptive school of strategic management. The chief architect of the strategy is the CEO of a company. This school took formal leadership seriously and CEO is responsible for strategy formulation.
The Entrepreneurial School: This school of thought considers strategy formation as visionary process. The entrepreneurial school focuses on the CEO’s vision as the key determinant of strategy.
|Popular Topics||In strategic management the Ten Schools of Thought model by Henry Mintzeberg is a framework that can be used to categorize the field of Strategic Management.|
The entrepreneurial school focuses on the CEO’s vision as the key determinant of strategy.