The need to understand how businesses can create and maintain competitive advantage while synchronously recognizing and exploiting new opportunities is the nexus of strategic entrepreneurship. In light of this, successful strategic entrepreneurship is the product of advantage- and opportunity-seeking behaviors that support the entity's ability to create value over a period of time. This article seeks to examine the distinctive attributes that determine the success of any strategic entrepreneurial venture. Strategic entrepreneurship is the integration of strategic management and entrepreneurship. Strategic management involves activities undertaken to create sustainable competitive advantage and gain wealth while the latter, i.e. entrepreneurship, involves the identification and exploitation of opportunities. The marriage of the two, “strategic entrepreneurship,” is defined as the integration of opportunity-seeking (entrepreneurial) behavior and advantage-seeking (strategic) behavior in creating far greater returns average for owners as well as value for customers (Hitt & Ireland). , 2005).Certain scientific articles have identified two models of strategic entrepreneurship; the content model and the process model. While the content model highlights the key characteristics of strategic entrepreneurship in terms of coordination, varied development and the thrust of certain individual factors (Luke and Verreynne, 2006; Wickham 2006); the process model emphasizes that beyond individual factors, the interaction of certain dominant factors fundamentally affects entrepreneurial outcomes (Ireland et al., 2003). This article will adapt the model of Ireland et al. (2003) in which they elucidated the key characteristics of strategic entrepreneurship to include characteristics such as; a...... middle of paper......012/12/12/us-india-walmart-probe-idUSBRE8BB0A120121212. Last evaluation on 05/02/2014. • Rumelt, RP, “How much does the industry count? Journal of Strategic Management 12 (1991): 167-185. See also Mauri, AJ, Mauri & Michaels, MP, “Firm and Industry Effects Within Strategic Management: An Empirical Examination,” Strategic Management Journal 19 (1998): 211-219• Shearman & Sterling LLP: Elevators and Escalators. Available: http://www.carteldigest.com/cartel-detail-page.cfm?itemID=7. Last reviewed 02/05/2014.• Wickham, PA (2006), Strategic Entrepreneurship, 4 ed, Prentice Hall.• Y. Li and S. Deng, “A methodology for analyzing competitive advantages and formulating strategies: an example in a context of transition Economy, European Journal of Operational Research 118 (1999), 259-270. • Yoffie DB and Kim K., Cola Wars Continue: Coke and Pepsi in 2010, Harvard Business School, 2011