AbstractEntrepreneurial strategy is characterized as strategy involving widespread and more‐or‐less simultaneous change in the pattern of decisions taken by an organization. The concept is distinguished from others which use ‘entrepreneurial’ to characterize a long‐term pattern of strategic behaviour. Entrepreneurial strategy will be enacted with some greater or lesser frequency by all firms, whether their long‐term behaviour is conservative or innovative. It is hypothesized that such strategy will be observed occurring in cycles at the single business‐unit level in response to both environmental and organizational stimuli and that it will reflect choice from a limited repertoire of basic st