Entrepreneurial Strategies: Conceptualization and New Definition

The main purpose of this study is to find a comprehensive and perspicuous definition for entrepreneurial strategies to discriminate these strategies from non-entrepreneurial ones. For this, we begin by comparing different definitions and strategies which in some cases are very obscure and ambiguous and categorize these strategies in two different categories: those that preserve entrepreneurial (Schumpeterian) rent and those which create entrepreneurial rent. Finally, we propose a new definition: entrepreneurial strategies are those actions designed and implemented to create and preserve entrepreneurial (Schumpeterian) rent. In addition, discussing 3 factors which turn entrepreneurial strategies to non-entrepreneurial ones is another part of this paper. These factors are: a decrease in demand, an increase of supply by competitors and an increase in current product costs. Finally, we analyze how entrepreneurial strategies change from Schumpeterian Shock to economic equilibrium point in proportion with entrepreneurial rent. The results of this research can help the entrepreneurship researchers to deal with the entrepreneurial strategies concept much easier than before.