| Summary: | Most small businesses fail to make it big even after they effectively identify gaps in the market. The reason often being their inability to integrate opportunity-seeking and advantage-seeking behaviors to sustain a competitive advantage. Thus this study applies Ireland et al.s (2003) model of strategic entrepreneurship to a software company in India, Infynita Inc., in an attempt to identify where small to medium sized enterprises (SMEs) such as Infynita Inc. go wrong after they successfully identify entrepreneurial opportunities. The study holds focus in four key areas, as per Ireland et al.s (2003) model, namely: (1) entrepreneurial mindset, (2) entrepreneurial culture and entrepreneurial leadership, (3) managing resources strategically and (4) applying creativity and developing innovation. Along with this, this research attempts to indicate the usefulness of the model which is primarily based on a literature review.
The study suggests that entrepreneurial firms such as Infynita Inc. tend to fail to incorporate advantage-seeking behaviors into their daily organizational routines. However this study does not suggest any generalized conclusions on all SMEs in the software industry in India. For the particular case of Infynita, the prime areas of failure include, effective strategic resource management, establishing an effective entrepreneurial culture and developing and implementing strategies that lead to disruptive innovation.
This study also suggests that the model of strategic entrepreneurship proposed by Ireland et al. (2003) is too vague to be directly implemented in practice. Thus I suggest further areas of development within the model, which should allow future researchers to successfully implement and validate it so as to determine whether the constructs mentioned in this model also lead to a sustained competitive advantage in practice.
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