Both entrepreneurship and strategy are more than simply thinking about the future of the firm they are also concerned with the firm taking action it is through its actions that a firm is jubged often by analysis of its financial and competitive performance entrepreneurially and traditionally managed firms can be distinguished in terms of their commitment to opportunity more entrepreneurially managed have an entrepreneurial orientation toward opportunity in that they are committed to taking action on potential opportunities and therefore can pursue opportunities rapidly making the most of windows of opportunity they also are able to withdraw their resources from a particular opportunity and do so rapidly such that if initial feedback from the pursuit of an opportunity provides information suggesting that it might not be the right opportunity for the firm then management can pull the plug minimizing losses from the intial pursuit in contrast tradition ally managed firms tend to place considerable emphasis on information information