Hypergraph Model of Prior Knowledge in Opportunity Discovery

A MODEL OF THE ENTREPRENEURIAL OPPORTUNITY RECOGNITION PROCESS

Journal of Enterprising Culture ◽

10.1142/s0218495800000073 ◽

2000 ◽

Vol 08 (02) ◽

pp. 103-119 ◽

Cited By ~ 49

Author(s):

ALEXANDER ARDICHVILI ◽

RICHARD N. CARDOZO

Keyword(s):

Prior Knowledge ◽

Work Experience ◽

Opportunity Recognition ◽

Entrepreneurial Opportunity ◽

Entrepreneurial Ventures ◽

Recognition Process ◽

Work Related ◽

Entrepreneurial Opportunities ◽

Opportunity Discovery ◽

Research Propositions

The goal of this study is to propose a model of the entrepreneurial opportunity recognition process. A number of research propositions was generated based on the analysis of the available literature, and then validated by the analysis of in-depth cases of opportunity recognition that resulted in the creation of successful entrepreneurial ventures. The study indicates that entrepreneurial opportunities are discovered through recognition rather than purposeful search; prerequisites for successful opportunity discovery are a combination of entrepreneurial awareness, access to extended social networks, and prior knowledge of markets and customer problems; prior knowledge could exist due to work experience, personal, non-work related experiences and events, or due to relevant to these markets education. Further, opportunity recognition does not require an exceptional level of creativity, and is not likely to involve a prior knowledge of the ways to serve markets.

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A Hypergraph Model for Market Opportunity Discovery

2011 Fourth International Joint Conference on Computational Sciences and Optimization ◽

10.1109/cso.2011.34 ◽

2011 ◽

Cited By ~ 1

Author(s):

Yang Wang ◽

Yingmin Wu ◽

Shuqin Cai

Keyword(s):

Market Opportunity ◽

Hypergraph Model ◽

Opportunity Discovery

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Passive, non-systematic search as an alternative to systematic search in opportunity discovery

Harvard Deusto Business Research ◽

10.48132/hdbr.298 ◽

2020 ◽

Vol 9 (2) ◽

pp. 110-128

Author(s):

Antoni Olivé-Tomás

Keyword(s):

Prior Knowledge ◽

Multiple Case Study ◽

Systematic Search ◽

Knowledge Domain ◽

Opportunity Discovery ◽

Business Opportunities ◽

Multiple Case ◽

Shed Light

This paper summarizes the results of a multiple-case study conducted to shed light into the question of how business opportunities are recognized by examining two theoretical propositions related to two topics: 1) the role of prior knowledge in the discovery of opportunities, and 2) whether opportunities are noticed without deliberate search or can be the object of a constrained, systematic search. We studied five Spanish companies and eight business opportunities. All the opportunities of the multiple-case study were recognized thanks to the prior knowledge of the entrepreneurs. In addition, the entrepreneurs only discovered opportunities related to their prior knowledge. None of the opportunities was discovered by noticing without search, as the alertness perspective contends. Some of them were the result of a systematic search constrained to the entrepreneur’s prior knowledge, but most of them were discovered by searching passively and non-systematically within the knowledge domain of the entrepreneur. This result suggests the passive, non-systematic search as an alternative to the systematic search.

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