Entrepreneurial actions that create

Entrepreneurial actions that create a competitive advantage based on firms’ tangible
and intangible resources are the topics of the book’s second major part.
Entrepreneurial Resources
Entrepreneurs (people acting independently or as part of a corporate system to create
new organizations or to instigate renewal or innovation within an existing company –
Sharma and Chrisman, 1999) and entrepreneurial firms identify and exploit opportunities that rivals have not observed or have underexploited. An appropriate set of resources is required to identify entrepreneurial opportunities with the greatest potential
returns and to use a disciplined approach to exploit them (McGrath and MacMillan,
2000). Thus, the tenets of the resource-based view are applicable to both entrepreneurial ventures and established firms. The entrepreneurial and strategic actions linked
to wealth creation are products of the firm’s resources (Hitt et al., 2001b). To build
and maintain a competitive advantage through which entrepreneurial opportunities
can be identified and exploited, firms must hold or have access to heterogeneous and
idiosyncratic resources that current and potential rivals cannot easily duplicate (Amit
and Schoemaker, 1993; Barney, 1991). Recent evidence supports this argument. For
example, Baum, Locke, and Smith (2001) found that a new venture’s internal capabilities are an important predictor of its performance. Likewise, Lee, Lee, and Pennings
(2001) found that technology-based new ventures created value using their internal
capabilities. Compared to tangible resources, intangible resources are more likely to

Hasil (Bahasa Indonesia) 1:

Entrepreneurial actions that create a competitive advantage based on firms’ tangibleand intangible resources are the topics of the book’s second major part.Entrepreneurial ResourcesEntrepreneurs (people acting independently or as part of a corporate system to createnew organizations or to instigate renewal or innovation within an existing company –Sharma and Chrisman, 1999) and entrepreneurial firms identify and exploit opportunities that rivals have not observed or have underexploited. An appropriate set of resources is required to identify entrepreneurial opportunities with the greatest potentialreturns and to use a disciplined approach to exploit them (McGrath and MacMillan,2000). Thus, the tenets of the resource-based view are applicable to both entrepreneurial ventures and established firms. The entrepreneurial and strategic actions linkedto wealth creation are products of the firm’s resources (Hitt et al., 2001b). To buildand maintain a competitive advantage through which entrepreneurial opportunitiescan be identified and exploited, firms must hold or have access to heterogeneous andidiosyncratic resources that current and potential rivals cannot easily duplicate (Amitand Schoemaker, 1993; Barney, 1991). Recent evidence supports this argument. Forexample, Baum, Locke, and Smith (2001) found that a new venture’s internal capabilities are an important predictor of its performance. Likewise, Lee, Lee, and Pennings(2001) menemukan bahwa berbasis teknologi usaha menciptakan nilai baru menggunakan mereka internalkemampuan. Dibandingkan dengan sumber daya nyata, sumber daya tidak berwujud lebih cenderung