Within the proposed framework of strategic entrepreneurship a number of issues are considered to be important features. In particular, scope (application of strategic entrepreneurship), operation (integration of core elements), and function (change in balance of those elements over time) were specifically addressed. As such, this section examines issues which are broadly relevant to these issues, and have emerged from the data as important themes.
a) Scope
During the course of the initial interview, Langridge (2005a) notes that activities and opportunities such as E-Valuer, identified by Quotable Value were available to other businesses, regardless of their size or form. Essentially what emerges as central to the activity of E-Valuer is the entrepreneurial idea, and the strategic implementation of that idea; acting on opportunities which are both entrepreneurial and strategic in nature. Thus, with respect to Quotable Value, no such emphasis or distinction between being a large versus small organisation; government or non-government, seems relevant to E-Valuer. In particular Langridge notes “anybody has the opportunity to go out and recreate the dataset that QV has built”. Alternatively the dataset may be acquired by competitors, rather than recreated. “We’ve chosen to wholesale that information out to our competitors so that they use the same information”.
With respect to the issue of being a government organisation, and in particular a SOE, this is also not viewed as directly relevant to E-Valuer by Langridge. Competitors in the industry are both public and private organisations. The transfer from a crown entity to a SOE in 2005 is effectively viewed by Langridge as an administrative one. “It has changed some of the reporting structures and roles, but the reality is we’ve been operating with a commercial focus from 1998. And it was very much in a deregulated market” (Langridge). Thus, in the context of Quotable Value it seems the adoption of a commercial focus, or more specifically an entrepreneurial and strategic focus rather than the size and form of the business is relevant to E-Valuer, and thus strategic entrepreneurship.
Reflecting on the progress and operations of Quotable Value in general, Langridge comments
“it’s a good model of where de-regulation works”. Staff levels have now increased, growth and profits are being sustained, and with respect to the organisation’s traditional business activity, 63 out of 74 council contracts have been retained. “It is a comfortable position for us” (Langridge).
b) Operation and function
With respect to the elements identified as central to E-Valuer, Langridge’s comments indicate a clear relationship between the various elements exists. By way of example, Langridge refers to the need for growth, and E-Valuer as one such opportunity for growth. Examination of the elements central to E-Valuer also identified the combination of innovation and flexibility as fundamental to create an instant online valuation service. Further elements of flexibility and vision were noted as combined, enabling Quotable Value to identify a range of opportunities
which were consistent with that vision. Hence the interrelated and interdependent nature of these constructs emerges.
A further theme which begins to emerge as relevant to the success of E-Valuer is the balance of these elements. While growth emerges as a dominant theme from Langridge’s comments, the combination and balance of opportunity identification, innovation, and flexibility, particularly in the early stages of E-Valuer’s development; seem essential to achieve this growth. Thus, the changing emphasis and balance of these elements over time begins to emerge.
Final comments raised by Langridge relate to the notion of competitive advantage and its relationship with E-Valuer. Langridge is confident such a relationship exists. “Nobody else has an automated tool that enables people to get an estimate of their property’s value.” Thus Langridge contends the combination of technology and professional valuation skills, “delivering that [information] in a different way gives us a competitive advantage”. Langridge continues to note the relevance of competitive advantage to E-Valuer in the future, once more people are aware of the service: “We’re continuing to work on it; growing the awareness” to further build on that competitive advantage.
Essentially such competitive advantage seems dependant on activity within both the internal and external environment. This notion is reinforced by Osborne (2004, p. 4) who notes:
Externally we were aided by a strong and buoyant property market. This booming market did assist with our performance for the year but it was the superior performance by the Quotable Value team that enabled us to take full advantage of this environment.
Hence the importance of both the internal and external environment emerges as central to E-Valuer and thus, strategic entrepreneurship. This notion is further reinforced through the proposed changes to New Zealand’s Privacy Act in 2001, which if passed as law, would effectively have prevented organisations such as Quotable Value from expanding their operations offshore (Hosking, 2001). Specifically the proposed changes, consistent with European Union guidelines, prevented the transfer of personal information (including property related data) across borders. Following submissions by various organisations such as Quotable Value, who contended that the proposed amendments were both unnecessary and unfair, the legislation was not passed. Thus, changes in the external environment, and adapting or responding to those changes accordingly, becomes both an important and influential aspect of establishing ongoing success.
Hence, based on the above findings, the case of E-Valuer provides significant insight and further support for the proposed theoretical framework. Further examination of the data however, also reveals a number of themes associated with strategic entrepreneurship which were not addressed as part of the proposed framework. These themes are considered under the headings of strategy, culture, and branding; and are examined in further detail in the following section.