Developing a conceptual framework of strategic entrepreneurship

Purpose – This paper aims to examine the integration of entrepreneurship and strategy to develop a conceptual framework of strategic entrepreneurship. The framework is developed through an analysis of theory and refined through an examination of practice. Design/methodology/approach – This framework is considered in the context of potentially entrepreneurial and strategic activity undertaken by 12 of the 17 state‐owned enterprises (SOEs) operating in New Zealand in 2006‐2007. Based on a review of documents, observation, and interviews with SOE executives, cases of 12 SOE activities were analysed to compare and contrast strategic entrepreneurship in practice. Findings – The findings reveal distinct elements within the four activities classified as strategic entrepreneurship, activities, such as leveraging from core skills and resources from a strategic perspective, and innovation from an entrepreneurial perspective. Originality/value – This study is one of the first to examine the nature of strategic entrepreneurship in practice and the associated financial returns.