Entrepreneurial strategy: The role of planning, intuition, and improvisation

Entrepreneurship requires action in the face of uncertainty and a degree of risk-taking by the entrepreneurs and their teams. Entrepreneurial organizations must combine innovation and differentiation with resource conservation, although entrepreneurial behaviors are becoming increasingly important in large organizations. The development and implementation of strategy within an entrepreneurial organization requires leadership skills and the ability to perceive environmental shifts and adapt accordingly. For the young entrepreneurial organization with limited resources, development of a competitive strategy is vital to the organization's survival and requires planning and substance. This study focused on entrepreneurial strategy and the role of formalized planning while integrating intuition and innovation into the strategic planning process. A series of case studies was conducted, with a grounded theory approach, focusing on entrepreneurial organizations in the southern crescent of the metropolitan Atlanta area. Organizations were selected based on their existence for a minimum of three years and their ability to sustain organizational growth.