From decoy to target: Entrepreneurs and institutional change

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

It is widely acknowledged that businesses operating in today’s ultra-competitive environment must evolve to grow and prosper. Any reluctance to change can have pretty disastrous consequences for organizational well-being. Entrepreneurs also drive change, as this is an inherent part of their aim to succeed with a novel venture. In these circumstances, change involves the creation of new institutions or the transformation of current ones. Whichever option is pursued, the goal remains the same. The entrepreneur seeks institutional legitimacy for the new creation. Legitimacy in this sense relates to stakeholder acceptance of new ideas and offerings.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2016), "From decoy to target: Entrepreneurs and institutional change", Strategic Direction, Vol. 32 No. 3, pp. 31-33. https://doi.org/10.1108/SD-12-2015-0194