Understanding Opportunity Evaluation Prototypes in Search of more Entrepreneurs (original) (raw)

Prototype models of opportunity recognition and the decision to launch a new venture

International Journal of Entrepreneurial Behavior & Research, 2015

Purpose – The purpose of this paper is to obtain evidence concerning the basic dimensions included in cognitive prototypes pertaining to opportunity recognition and decision to launch a new venture; identifying the underlying dimensions of both prototypes – the cognitive frameworks current or nascent entrepreneurs employ in performing these important tasks. Design/methodology/approach – The bi-dimensional models were tested in a sample of 284 founder entrepreneurs, using a 48-item questionnaire. It was used as structural equation confirmatory factor analysis to compare fit indices of uni-dimensional second-order and third-order bi-dimensional models of business opportunity and decision to launch a venture. Findings – Results support the bi-dimensional models and offer support that both prototypes include two basic dimensions. For the business opportunity prototype these are viability and distinctiveness while for the decision to launch a new venture, the basic dimensions are feasibi...

R Potential for opportunity recognition along the stages of entrepreneurship

2014

The study primarily verifies whether ORP differs in stages of entrepreneurship and aims at identifying factors that influence ORP in different stages of entrepreneurship. The stages of entrepreneurship include pre-stage (individuals planning to start ventures), early-stage (entrepreneurs with ventures less than 3 years old) and late-stage (entrepreneurs with ventures more than 3 years in existence). The factors that were studied include personal factors (cognitive style, self-efficacy and motivation) and interpersonal factors (bridging social capital and bonding social capital). The results indicate the influence of different factors in different stages of entrepreneurship.

Prototypical dimensions of business opportunity in early stages of the entrepreneurial process

The purpose of this paper is to describe how individuals with no entrepreneurial experience use prototypical dimensions of business opportunities at the first two stages of the entrepreneurial process: recognition and decision to launch a venture. Previous studies have described the business opportunity prototype ; however, they do not describe how it is used and rely on retrospective data and entrepreneurs' prior experience. We intend to overcome these gaps by using two hypothetical scenarios and three conditions, creating a first entrepreneurial experience for individuals, having thus a 2 (scenario A and B) X 3 (condition: "Problem solving", "Cash flow", "Manageable risk") design plan with a total of six groups. Our results allow us to describe how individuals use the prototype in the first two stages of the entrepreneurial process. Specifically, we have a better understanding of the importance of risk, customers, and profit in both stages. Both in the recognition and the decision stages, risk is the most important factor, but profit and customers are considered differently in the two stages. In recognition, profit is more important than customers; however, in the decision stage, customers are a major concern for the participants. These results provide relevant information on the first entrepreneurial experience of individuals, which is crucial given the recognized need to promote entrepreneurial initiatives and behavior.

Distinguishing entrepreneurial approaches to opportunity perception

International Journal of Entrepreneurial Behavior & Research, 2017

Purpose Whether opportunities are discovered or created by entrepreneurs is a foundational question in entrepreneurship research. The purpose of this paper is to examine women entrepreneurs in high-growth new ventures and explore the cognitive resources that distinguish between three approaches to opportunity perception: opportunity discovery; opportunity creation; and a combined discover-create (ambidextrous) approach. Design/methodology/approach Using questionnaire responses from 165 women entrepreneurs in high-growth new ventures, K-means clustering was used to determine three approaches to opportunity perception. The cognitive resources associated with each approach were then identified using multiple discriminant analysis. Finally, multivariate analysis of variance was conducted to examine the relationship between opportunity perception and growth expectations. Findings These results demonstrate different approaches to opportunity perception among entrepreneurs in high-growth n...

Potential for opportunity recognition along the stages of entrepreneurship

Examining Entrepreneurial Potential

Employing public resources for promoting entrepreneurships demands careful selection of candidates who are most promising to set up a successful entrepreneurial career. This study addresses the relation between an individuals’ entrepreneurial potential, identified through personality traits, and aspects of human and social capital, based on prior individual experiences in the domain of self-employment. A psychometric test, called F-DUPN, measures the strengths of personality traits considered relevant for successful entrepreneurial activity. To test our hypotheses we collected data of 166 individuals. All of them are university students or graduates and have indicated a specific interest in entrepreneurial activity. A major result is that participants experienced in self-employment, with self employed parents and with self employed friends show a higher entrepreneurial potential than participants who do not have these experiences or relations. Furthermore, we find in line with other...

Exploring the characteristics of potential entrepreneurs: An empirical study

2017

Entrepreneurship is a popular research topic over the last several decades. Various authors study the characteristics that best define future entrepreneur profiles. In this paper, we apply a framework to screen school populations in the Azores Islands, Portugal, for the prospects of entrepreneurship and to study the profiles of those who show noticeably entrepreneurial orientations. In this paper, we apply the ordinal probit regression model, often referred to as the ordered probit model, in order to explain the entrepreneurial prospects of students in high school in the Azores Islands. The findings revealed that the factor “Entrepreneurial orientation” only explains, in part, prospects for entrepreneurship. In this context, the results emphasize the importance of some entrepreneurial skills and personality characteristics in the development of entrepreneurial spirit. The findings also highlight the role of entrepreneurship education in the entrepreneurial attitudes and the role of ...

METHODS AND TOOLS FOR THE ANALYSIS OF ENTREPRENEURIAL THINKING – A CRITICAL REVIEW

Entrepreneurship means much more than an increase in output and income per capita. It includes the initiation and establishment of a change in business and society as a whole. Therefore, the study of entrepreneurial activity and the role of the entrepreneur is of great importance for today's society. The environment in which we live today is characterized by ever-present change. Everything is fast and volatile, the way of life, creating and working. Business organizations operate in a very complex and dynamic environment. Because of the dynamics and uncertainty of the environment, managers of today's businesses are required to have a proactive, entrepreneurial way of thinking. In order to adopt it, first the proactive way of thinking should be clearly defined. The aim of this study is to determine the efficiency and accuracy of existing tools for measuring entrepreneurial and non-entrepreneurial thinking. On the basis of these findings to define the entrepreneurial with the goal of its more efficient adoption. Qualitative research methods were used- analysis of secondary databases, and overview and a critical review of recent theoretical discussions. There is a growing scientific interest of psychology in entrepreneurial thinking through analysis of behaviour of management in conditions of uncertainty and dynamism. It uses a variety of methods and tools. In this paper, through an analysis of the existing literature, we will present the analysis of the Entrepreneurial Predisposition Questionnaire (UPS) which was formed by combining the "General measure of Enterprising Tendency” (GET test) and Koh's questionnaire as well as questionnaires of Mike Haynie "General Measure of Adaptive Cognition". Critical analysis of the results of these questionnaires in the synthesis with the theoretical discussion in this paper may serve as an aid for vocational guidance or as an educational tool that can direct respondents to traits that are associated with entrepreneurship. Keywords: entrepreneurial thinking, Entrepreneurial Predisposition Questionnaire , GET test, cognitive flexibility, questionnaire "General Measure of Adaptive Cognition ".

Understanding Opportunity Evaluation Prototypes in Search of more Entrepreneurs (original) (raw)

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