STUDY | Strategy work can change entrepreneur’s self-image

Working with strategy is not just about plans and growth targets. It also affects how entrepreneurs view themselves and their firms. This is shown by a study of entrepreneurs who participated in a university-based growth programme in the UK.

The researchers followed entrepreneurs who participated in a programme for small and medium-sized enterprises and found that strategy work changed their self-image. The phenomenon is called narrative identity refocusing—a shift in the narrative that entrepreneurs use to understand and describe their business.

A collective effort

The strategy work gave rise to new ways of talking about themselves and their firms. Some participants embraced strategic ideas such as planning, control, and key performance indicators to create structure and control. Others distanced themselves from the concept of strategy and instead emphasised values such as personal freedom, professional ethics, or long-term sustainability.

An important part of the process was what researchers refer to as  temporal work—a collective effort in which the entrepreneurs reflected on the past, present, and future. Through discussions about past mistakes, current challenges, and future goals, they developed new ways of understanding their growth journey.

An important part of the process was what the researchers call temporal work – collective work in which entrepreneurs reflected on the past, present and future. Through discussions about past mistakes, current challenges and future goals, they developed new ways of understanding their growth journey.

Two different growth stories

From this, two growth stories emerged: Grow to last, which emphasises long-term development through planning and organisational building, and Grow to sell, which focuses on rapid expansion with a view to sale. The stories helped the entrepreneurs interpret their goals and make decisions about the direction of the firm. 

The study shows that strategy work is not only about business development but also about identity creation. When entrepreneurs participate in structured growth programmes, they gain access to new languages and narratives that influence how they understand themselves and their firms. 

The researchers believe that this identity work is crucial when entrepreneurs move from start-up to growth—a phase in which the role of leader becomes increasingly important.

More about the study and the researchers
The article Grow to last or grow to sell? Strategy making and narrative identity refocussing in business support programs is published in the scientific journal Entrepreneurship and Regional development. The authors are Andrew Greenman, Lecturer in Entrepreneurship, Norwich Business School, University of East Anglia, Jeannie Holstein, Senior Lecturer in Strategy and Innovation, Loughborough Business School, Loughborough University, and Susan Marlow, Professor of Entrepreneurship and Innovation, Haydn Green Institute, Nottingham University Business School.