26 Managerial Versus Entrepreneurial Decision Making • Entrepreneurial management is distinct from traditional managemen

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26 Managerial Versus Entrepreneurial Decision Making Entrepreneurial Management Is Distinct From Traditional Managemen 1 (62.45 KiB) Viewed 37 times

26 Managerial Versus Entrepreneurial Decision Making • Entrepreneurial management is distinct from traditional management in terms of: . Strategic orientation. • Commitment to opportunity. • Commitment of resources. • Control of resources. • Management structure. • Reward philosophy. • Growth orientation. • Entrepreneurial culture. 2-8 Table 2.1 - Distinguishing Entrepreneurially from Traditionally Managed Firms Entrepreneurial Focus Conceptual Dimension Administrative Focus Driven by perception of opportunity Strategic orientation Driven by controlled resources Revolutionary with short duration Commitment to opportunity Evolutionary with long duration Many stages with minimal exposure Commitment of resources A single stage with complete commitment out of decision Episodic use or rent of required resources Control of resources Ownership or employment of required resources Flat with multiple intormal networks Management structure Hierarchy Based on value creation Reward philosophy Based on responsibility and seniority Rapid growth is top priority, risk Growth orientation Sate, slow, and steady accepted to achieve growth Promoting broad search for opportunities Entrepreneurial culture Opportunity search restricted by controlled resources failure punished 2-9