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The Entrepreneur as Strategist and Improviser: Subject of Activity and Object of Understanding

The Entrepreneur as Strategist and Improviser: Subject of Activity and Object of Understanding
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Author(s): Kiril Todorov (University of National and World Economy, Bulgaria)
Copyright: 2015
Pages: 26
Source title: Economics: Concepts, Methodologies, Tools, and Applications
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-4666-8468-3.ch028

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Abstract

The chapter deals with the search for relevant strategic responses to the challenges of a dynamic and competitive, international and multicultural business environment where new strategic approaches like Strategic Entrepreneurship (SE) and tools to meet the specific characteristics and needs of SMEs are launched. The entrepreneurial opportunities, and their exploration and exploitation through the entrepreneur's/ manager's various roles as a strategist, leader, and improviser, are analyzed. It is shown that in most cases the entrepreneur (especially in long-term dynamic, ambiguous conditions) acts without sufficient formal information and resources and therefore has to improvise taking certain risks (strategic improviser). Difficulties in the understanding and the implementation of entrepreneurial roles, especially those of strategist and improviser, require non-traditional approaches, forms and methods in the education of students in entrepreneurship, and in training/ consulting for both new and established entrepreneurs. The forms and methods of mythology, metaphorical representation and jargon, as tools of the so-called subjective (qualitative) approach, are widely accepted. The chapter employs examples of original myths and metaphors to demonstrate how better to understand the linkages across strategic orientation/ management, improvisation and strategic learning, thus helping entrepreneurs/ managers to better adapt theories, concepts and tools for effective working in a dynamic, competitive environment.

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