Opportunity Recognition (OR) skills of entrepreneurs and its association with their paths to business ownership and types of innovation: An empirical investigation of SME firms (original) (raw)
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2015
Opportunity Recognition Skill (ORS) is often considered to be the most important skill needed for an entrepreneur. One of the few attempts to identify the components of this skill (Ucbasaran et al, 2003) has proposed that there are two approaches associated with it, namely, the developmental approach and the alertness approach, which they have measured using a 12-item questionnaire (8 items for the former and 4 for the latter dimensions). When the present authors administered this questionnaire to 279 respondents and subjected the data to factor analysis, the results did not conform to the findings of the original researchers. The analysis yielded 4 factors, which could be named as: Alertness, Problem-solving, Learning, and Implementation orientations. As the original questionnaire had limited numbers of items, the last two dimensions had only one variable each. The results pointed to the need for expanding the OR Skill questionnaire through a fresh (pilot) investigation. As there w...
Potential for opportunity recognition along the stages of entrepreneurship
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.
International Review of Management and Marketing, 2017
The purpose of this paper is to expand upon existing entrepreneurial opportunity recognition model (EORM) that builds on the existing theoretical literature, utilises the Dubin’s theory-building framework. It identifies entrepreneurial awareness and viable business plan as the determinant of entrepreneurial success within the process opportunity recognition (OR) and exploitation. Entrepreneurial awareness is the central component of OR process. Entrepreneurial awareness and viable business plan, are the basic condition for the success of the OR and exploitation process which in turn yielding a successful entrepreneurial outcome. A proposed conceptual model, a set of propositions, and suggestions for further research are provided.
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.
A Brief Review of Opportunity Recognition in Entrepreneurship Research
Entrepreneurship is multidimensional in nature. The purpose of this paper was to gather and summarize the plethora of research on opportunity recognition and revealed the constructs specific to entrepreneurial opportunity recognition along with its antecedents and consequences. The study was based on the literature review of entrepreneurial opportunity recognition with emphasis on the leading prominent literature from authentic and well-reputed journals. This study employed the strategy majorly based upon empirical data over the last two decades i.e. 2000-2020. This review indicated that the field is empirically underdeveloped and numerous inconsistencies are existent in research conclusions. The study summarized the phenomenon of opportunity recognition which is referred to as the self-defined field of research. Moreover, the study suggested future research directions to recognize and exploit the business opportunities.
2016
1.INTRODUCTIONEntrepreneurial process begins with someone's decision to become entrepreneur (Barringer and Ireland, 2009), followed by entrepreneurial opportunity recognition (Hatten, 2006; Kaplan, 2003; Timmons and Spinelli, 2007), which leads to starting a business (Bygrave, 1989). Timmons and Spinelli (2007) observe entrepreneurial process through three driving forces of successful launching entrepreneurial venture, whereby opportunity takes the first place, followed by entrepreneurial team and resources.Researchers and theoreticians, authors of many papers, who address the issue of entrepreneurial opportunity, have different definitions of this term. Opportunity is seen as an idea (Davidsson et al., 2004), business form or potential company (DeTienne and Chandler, 2007; Singh 1998), objective phenomenon separable from entrepreneur (Shane 2000) or subjective phenomenon resulting from entrepreneur's cognitive capacities (Sarason et al., 2006). Barringer and Ireland (2009, ...
A theory of entrepreneurial opportunity identification and development
This paper builds on existing theoretical and empirical studies in the area of entrepreneurial opportunity identification and development. It utilizes Dubin's [Theory Building, (second ed.). Free Press, New York, 1978.] theory building framework to propose a theory of the opportunity identification process. It identifies entrepreneur's personality traits, social networks, and prior knowledge as antecedents of entrepreneurial alertness to business opportunities. Entrepreneurial alertness, in its turn, is a necessary condition for the success of the opportunity identification triad: recognition, development, and evaluation. A theoretical model, laws of interaction, a set of propositions, and suggestions for further research are provided. D
Opportunity Recognition Framework: Exploring the Technology Entrepreneurs
Entrepreneurship plays an important role in fostering economic growth, job creation and innovation to a nation. Therefore, governments and researchers alike have concentrated their effort in pursue of increasing entrepreneurial activities within the community. Despite such efforts, entrepreneurship research is still evolving at its infancy stage. For entrepreneurship to happen, opportunity recognition must first happen. In an effort to take better sense of the factors shaping the entrepreneurial opportunity recognition, this study aims to examine the potential effect of entrepreneurial alertness, prior knowledge and social network on opportunity recognition and ultimately reaping the rewards of superior business performance. The goal of this study is to propose a model of the opportunity recognition model. Careful examination of past literature and theories produced several research hypotheses
Factors Affecting Entrepreneurial Opportunity Recognition Among Food and Beverage SMEs
2021
The growth of Food and Beverage (F&B) SMEs continues to increase along with the interest of Indonesian people in enjoying the ready-to-eat food. SMEs in this field must possess entrepreneurial alertness to seek, realize and recognize opportunities, also known as entrepreneurial opportunity recognition. This study aimed to determine the impacts of: 1) social network on entrepreneurial alertness, 2) prior knowledge on entrepreneurial alertness, 3) self-efficacy on entrepreneurial alertness, 4) entrepreneurial alertness on entrepreneurial opportunity recognition among F&B SMEs in Jakarta. This study used purposive sampling technique and a sample consisting of 80 F&B SMEs was obtained. The results proved that social network, prior knowledge, and self-efficacy have positive and significant impacts on entrepreneurial alertness. Likewise, entrepreneurial alertness has a positive and significant impact on entrepreneurial opportunity recognition. This is an aspect that F&B SMEs need to pay a...