Entrepreneur as a conductor of competitive advantages
EDN: TXOSRX
Abstract
In this article we investigate the role of the entrepreneur in the creation of competitive advantages. In relation to this context the paper analyzes major classical and modern theories of competitiveness, their relations, intersection and the potential integration. It is proved that the most adequate explanation of entrepreneur’s contribution in ensuring commercial success is the concept of dynamic capabilities, which happens to be the synthesis of the resource-based view and dynamic competition theories.By further elaborating the achievements of dynamic capabilities approach and applying the principle of a single source of truth we formulate the specific entrepreneurial model of strategic management that differs from regular strategic models. Central to this model is the concept of interpretation, the all-integrating view of firm’s competitive position and goals within the entrepreneur’s mind. We prove the primacy of interpretation over the limits of external and internal environment. Based on several Russian «success stories» («failure stories») we show the relationship between the quality of interpretation and competitive advantages of firms.
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Review
For citations:
Semenova N. Entrepreneur as a conductor of competitive advantages. Journal of Modern Competition. 2015;9(2):46-60. EDN: TXOSRX
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