Asbe association for Small Business & Entrepreneurship




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Conclusion


The purpose of this paper is to establish a theoretical linkage between corporate entrepreneurship and strategic management. By reviewing the literature of entrepreneurship research, the author made a clear distinction between two broad types of corporate entrepreneurship – opportunity seeking and excellence pursuing. The former is associated with new business venturing, market expansion and diversification, etc. The latter is about the continuous improvement and transformation of existing products and businesses. The author identified several pressing factors which drive the excellence-pursuing entrepreneurship: customer expectation, competitive challenge, technological opportunity and pressures from employees, suppliers, shareholders.


With the discussion on generic strategies, the author argues that a combination of low cost and differentiation strategies is feasible and desirable. But the realization of the ideal combination strategy should not be as that much straightforward as Faulkner and Bowman’s (1995) model implies. In contrast, the author argues that there is a process firms normally have to go through when it comes to selecting and changing the dominant generic strategy. The process starts from a trail-and-error to cost reduction strategy, then transits to differentiation and then approaches to the ultimate combination strategy. When the firm starts to enter into new product market, a new round of the same process carries on, therefore the process continues to form a spiral process, which the author calls ‘generic strategy spiral’ – the ‘invisible hand’ behind corporate entrepreneurship.


F
Entering a new product market

Yes add more value no

Differentiation

Transition

Cost reduction

Combination

Cost Leader

Value Reactor

Differentor

Differentiator

Crossing factors

Society builder
IGURE 1


Generic Strategy Spiral
No lower cost yes

No lower cost yes

value

cost

Cost Defender

Cost Reactor

Yes add more value no

Standard setter

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VALUE ENHANCEMENT STRATEGIES FOR FAMILY/SMALL BUSINESS OWNERS


Charles R. B. Stowe, Sam Houston State University


Abstract


The problem for most family owned businesses is how to realize the maximum potential from the business at the time of sale and prior to that time how to develop strategies to improve the efficiency of the operation and how to improve total revenue growth without stretching the capacity of the enterprise or going too far out of the owner’s comfort zone. This article provides specific insight into what steps a small firm may take to enhance its valuation for the purposes of realizing a capital gain or for the purposes of realizing more profitability to fund retirement of the owners during transition to the next generation. This paper offers a model for implementing strategies to enhance the valuation of a small business for the purpose of realizing either higher profitability or a larger capital gain upon the sale or transfer of the enterprise.

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