Strategic Venturing for Entrepreneurs: A New Application of the Socio-Economic Approach to Management

Amandine Savall · Yue Caï Hillon

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Entrepreneurship Studies and Influences Innovation and Knowledge Management Private Equity and Venture Capital

Abstract

Cantillon originally described entrepreneurship as a practical and functional process of value creation tocapture a concrete imagination of the future. Management scholars have identified the two main failuremodes of entrepreneurship as an inadequate understanding of the external environment and insufficientcapabilities for internal management of the venture. However, there has been limited transfer ofresearch-based knowledge into practice to decrease the high failure rate of new ventures. This studydocuments a new application of SEAM strategic venturing to simultaneously address both failure modes,as documented in two extended entrepreneurial cases from France and America.

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