Entrepreneurship and corporate strategy

Entrepreneurship is examined from three major viewpoints, Economic, Sociological and Individual Psychological but no one of these approaches can adequately explain the phenomenon. Entrepreneurship is identified with a changing social process and associated with those individuals called entrepreneurs. Corporate Strategy is an aspect of Business Policy and is seen as a determining process in the growth, survival or demise of the firm . The architect of this strategy is the entrepreneur broadly seen as chief executive and identified by task. The concept of the entrepreneur is refined and redefined leading to a distinction between the Modal and the Independent entrepreneur. Independent Entrepreneurs are categorised as either Ubiquitous or Elite . Modal, Ubiquitous and Elite entrepreneurs .are compared and contrasted on the basis of their motivations, life experiences, social and psychological aspirations, and the burden of the argument to this stage is illustrated by an interview with an Elite entrepreneur, identified as such by individuality and corporate competence. The discussion reverts to the tasks of the Entrepreneur and their relation to Corporate Strategy. The entrepreneur is seen as a straw in the economic wind. An understanding of positive economics is mandatory for successful entrepreneurship practised by Modal and Elite entrepreneurs alike . Guidelines are developed in linking positive with normative economics, showing the importance of economics in the process of Corporate Strategy. Employee motivation is a further mandatory task of the entrepreneur seen as corporate leader and this is related to organisation structure. The fundamental raison d 'etre for organisation structure is seen as control and types of organisation are compared, contrasted and correlated with management style and personal values. "The Lonrho Affair" describes a multinational corporation run by an Elite entrepreneur and illustrates the link between Entrepreneurship and Corporate Strategy, personal values-and organisation structure and the relevance of an exteroceptive management style to corporate success.