Group members:

1. NUR HIDAYAH BINTI MARBAH (BB2110671)

2. NURUL MASLINDAH BINTI AHMAD (BB20110690)
3. SAFIYA SAFWA BINTI SUHAIMI (BB20110290)
4. ZAWIN NAJAH BINTI SUARDI (BB20110450)
5. CHANG TIANYU (BB20170890)
6. MUHAMMAD AHMAD ZARRIQ BIN BUSMAN (BB20161058)

In a group, read the article by Hitt, Ireland, Sirmon & Trahms (2011), and in not more
than 300 words,

1.Explain ‘strategic entrepreneurship’?

Searching for opportunities to benefit stakeholders, enterprises, or society is the core goal of
strategic entrepreneurship. This implies that strategic entrepreneurship focuses on all processes
that ensure the exploitation of existing advantages while also allowing organizations to seek new
opportunities and preserve competitive advantage for value production over a sustained period.
Understanding how existing companies may become more entrepreneurial and how new
organisations might succeed by relying on competitive advantages is the motivation behind the
strategic entrepreneurship idea. Additionally, entrepreneurship and strategic management are
focused on generating money and value. In general, entrepreneurship contributes to a firm's
efforts to create value and wealth primarily by spotting opportunities that can be taken advantage
of in the marketplace. In contrast, strategic management contributes primarily to the value and
wealth-creation efforts by creating competitive advantages that serve as a firm's platform for
competition. Therefore, strategic management entails developing and maintaining one or more
competitive advantages as opportunities are exploited, while entrepreneurship entails identifying
and using possibilities.

2.Explain the ‘resources’ and ‘outcomes’ of strategic entrepreneurship in an

entrepreneurial process.

The article claims that the enhanced model of strategic entrepreneurship presented here
incorporates environmental influences, explains how resources are managed in the process of SE
to create value over time, and describes various outcomes, thereby providing a more detailed
view of the field. Several practical and significant issues are raised by the new model, resource
management conversations, and outstanding SE results to expand our knowledge of SE and its
use in businesses. Effective competitive positioning is a significant determinant of a company's
capacity to create wealth and value for its stakeholders and society. Similarly, attempts to attain
these results are influenced by the firm's distinctive resource pool (Barney, 1991). A successful
SE will likely provide good results to the person, the company, and society. The entrepreneur
experiences personal fulfilment as a result of learning how to launch a new business. However,
the company has an edge in terms of innovation and technology. One benefit is having access to
scientific information. In terms of the social sphere, entrepreneurship has become the main factor
in the expansion of the economy, generating new employment possibilities and raising market
values.