Pioneering strategies for entrepreneurial success
Article Type: Abstracts From: Strategic Direction, Volume 24, Issue 9
Brusch C.G.Business Horizons, January-February 2008, Vol. 51 No. 1, Start page: 21, No. of pages: 7
Purpose – to discuss pioneering strategies for entrepreneurial success. Design/methodology/approach – reviews the associated literature, with a focus on three capabilities that allow entrepreneurs to succeed in pioneering:visioning; bootstrapping; and social skills. Suggests that having a concise vision that is easily communicated is essential for pioneering entrepreneurs;that there are generally four different ways to bootstrap – product development, business development, conserving cash and meeting cash needs; and that key dimensions of social skills include social perception, impression management, persuasion and social influence. Maintaining that socio-demographic changes and political economic changes will give rise to new opportunities for pioneering entrepreneurs, offers tips for achieving success with regard to creating a vision, adopting a “buy low, sell high, collect early and pay late” approach to bootstrapping, and polishing social skills. Originality/value – contributes to the entrepreneurial skills literature,offering guidance on how to implement pioneering strategies. ISSN: 0007-6813 Reference: 37AH905
Keywords: Cash management, Entrepreneurs, Innovation,Strategic management
