Strategic Entrepreneurship and Competitive Advantage

Michael Hitt is one of the leading names in strategic management in the US. He is former president of the Academy of Management and is on the Board of the Strategic Management Society. He has sent us the attached proposal, which is also being considered and bid for by 3 other publishers (including Wiley and Oxfprd). We will do extremely well to get it.In the meantime I have received some critical comments (below) and suggestions from Rita McGrath, whose book on The Entrepreneurial Mindset is one of the key competitors to this. Mikle Hitt will take these on board. His name alone will be sufficient to secure big sales, as Rita McGrath indicates. I have also consulted Howard Thomas (ex-Illinois) now Warwick; Rob Grant and John Child. All have promised a short review but confirmed that a new text by these authors will be a winner (even a hit?)I list the competition in this proposal section as have not mastered the BPS form for this. There is a lot out there, but the closest is the McGrath-Mcmillan book with Harvard.This is a really important area of management study and teaching - I would expect this book to sell to advanced undergrads as well as the MBAs.Unique Value Creating Features of Strategic Entrepreneurship Integration of Opportunity Seeking and Advantage Seeking Behaviors Explanation of Resources and their Importance for Entrepreneurial Success Examination of Managing Resources (acquiring, changing, bundling, and leveraging) to Create Value Discussion of the Importance and Facilitation of Creativity for Entrepreneurial Activity Explaining the Linkage Between Radical or Disruptive Innovation and Entrepreneurship Exploration of Entry into International Markets as a Facilitator of Entrepreneurial Activity Explanation of the Effects of Participation in External Networks on Entrepreneurial Activity and Value Creation. Examination of the role and Effect of Strategic Leadership on the Success of Entrepreneurial Activity Discussion of How Strategic Entrepreneurship is Important for Established Firms and Start-up VenturesSTRATEGIC ENTREPRENEURSHIP: Seeking Opportunities and Developing Competitive Advantages to Create ValuebyMichael A. Hitt and R. Duane IrelandOverview of the BookFirms create value by identifying opportunities in their external environments and then developing competitive advantages to exploit them. Successful value creation requires continuous identification of opportunities and subsequent exploitation of those opportunities in the marketplace by building a sustainable competitive advantage. Therefore, strategic entrepreneurship involves simultaneous opportunity seeking and advantage seeking behaviors.Balance is critical for organizational success. Firms able to spot multiple opportunities but incapable of using appropriate and unique competitive advantages to exploit them become bundles of unfilled promise. Similarly, firms with value-creating competitive advantages lacking opportunities to apply them in the marketplace become pockets of unused capabilities. Only when firms combine effective opportunity seeking behavior with effective advantage seeking behavior can they create significant value for stakeholders, including shareholders. On the other hand, firms seeking oppHitt, Michael A. is the author of 'Strategic Entrepreneurship and Competitive Advantage', published 2009 under ISBN 9781405120654 and ISBN 1405120657.