Entrepreneurship has emerged over the last two decades as arguably the most potent economic force the world has ever experienced. With that expansion has come a similar increase in the field of entrepreneurship education. The recent growth and development in the curricula and programs devoted to entrepreneurship and new–venture creation have been remarkable. The number of colleges and universities that offer courses related to entrepreneurship has grown from a handful in the 1970s to over 1,600 in 2005. In the midst of this huge expansion remains the challenge of complete academic legitimacy for entrepreneurship. While it can be argued that some legitimacy has been attained in the current state of entrepreneurship education, there are critical challenges that lie ahead. This article focuses on the trends and challenges in entrepreneurship education for the 21st century.

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Our knowledge of corporate entrepreneurship (CE) continues to expand. However, this knowledge remains quite fragmented and non-cumulative. Herein, we conceptualize CE strategy as a useful focal point for integrating and synthesizing key elements within CE's intellectual domain. The components of our CE strategy model include (1) the antecedents of CE strategy (i.e., individual entrepreneurial cognitions of the organization's members and external environmental conditions that invite entrepreneurial activity), (2) the elements of CE strategy (i.e., top management's entrepreneurial strategic vision for the firm, organizational architectures that encourage entrepreneurial processes and behavior, and the generic forms of entrepreneurial process that are reflected in entrepreneurial behavior), and (3) the outcomes of CE strategy (i.e., organizational outcomes resulting from entrepreneurial actions, including the development of competitive capability and strategic repositioning). We discuss how our model contributes to the CE literature, distinguish our model from prior models, and identify challenges future CE research should address.

Entrepreneurial orientation (EO)—a firm's strategic posture towards entrepreneurship—has become the predominant construct of interest in strategic entrepreneurship research. Despite the ever‐increasing volume of nomological research on EO, there remain ongoing conversations regarding its ontology. Drawing from measurement theory, we outline an EO reconceptualization addressing the likely prevalence of Type II nomological error in the EO literature stemming from measurement model misspecification. Focusing on the question of whether EO is an attitudinal construct, a behavioral construct, or both, we propose a formative construction of EO viewing the exhibition of entrepreneurial behaviors and of managerial attitude towards risk as jointly necessary dimensions that collectively form the higher‐order EO construct. We present an empirical illustration of our reconceptualization followed by a discussion of future research opportunities. Copyright © 2014 John Wiley & Sons, Ltd.

699Middle-level managers' entrepreneurial behavior is linked to successful corporate entrepreneurship. Herein, we integrate knowledge about corporate entrepreneurship and middlelevel managers' behaviors to develop and explore a conceptual model. The model depicts the organizational antecedents of middle-level managers' entrepreneurial behavior, the entrepreneurial actions describing that behavior, and outcomes of that behavior as well as factors influencing its continuance. Following discussion of the model's contents, we describe its potential value for researchers and those engaging in corporate entrepreneurship.