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Issue 3, 2011

Shirokova G. V., Sokolova L. S. Strategic Entrepreneurship: Research Approaches and Russian Practice.

The paper presents the results of research devoted to estimation of the influence of strategic entrepreneurship on the firm performance of small and medium sized companies. As a basis the authors have taken the model of strategic entrepreneurship which includes two orientations: exploration and exploitation. The results of empirical analysis of 500 Russian SMEs showed that exploration has positive influence on firm performance, while exploitation negatively influences the performance. Assumptions that in the dynamic environment the firm will be more oriented towards exploration, while in hostile environment — on exploitation, were not supported. Keywords: Strategic Entrepreneurship, Firm Performance, Exploration, Exploitation, Russian SMEs.

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