Abstract
This paper examines the relationship between strategic management and entrepreneurship and develops insights that advance the boundaries of the two fields and addresses an alternative strategic entrepreneurship framework. The value of the framework in analyzing and explaining an issue of how firms use activities of strategic entrepreneurship to pursue value creation is determined through a grounded comparative case study of three successful Taiwanese semiconductor firms – UMC, TSMC, and Winbond. Four theories are employed: market position, resource-based, network, and entrepreneurship. We argue that firms can establish or adjust market positions through opportunity identification over time, use various networks to secure complementary resources, and thereby exploit opportunities. This paper concludes by discussing implications for theory, practice, and future research.