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The purpose of this paper is to discuss the impact of the institutional environment on strategic networks including their cohesiveness as well as institutional entrepreneurship activities conducted by members of these networks.

The paper presents a case study of the trade association Pharma Industry Finland (PIF) and its institutional environment.

Institutional environment and institutional entrepreneurship of a strategic network are intertwined in various ways. Changes in the institutional environment influence the strategic cohesiveness of the network and the mutual goals of its network members. As a result, PIF proactively engages in entrepreneurial activities to realize its interests.

The paper of one network and one institutional environment is limited in generalizability. Further research is needed to explore if similar results can be obtained in other contexts.

In order to be successful, companies should be able to sense and evaluate which matters can be effectively addressed through collective institutional entrepreneurship and/or the company's own entrepreneurial activity.

This empirical study contributes to discussions on the theoretical understanding of strategic networks in relation to institutional environments, institutionally bounded strategizing in networks, and institutional entrepreneurship in business networks.