A MODEL OF THE ENTREPRENEURIAL OPPORTUNITY RECOGNITION PROCESS

2000 ◽  
Vol 08 (02) ◽  
pp. 103-119 ◽  
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.

Factors affecting entrepreneurial opportunities recognition in tourism small and medium sized enterprises

2016 ◽  
Vol 71 (1) ◽  
pp. 6-17 ◽  
Author(s):  
Tayebeh Nikraftar ◽  
Elahee Hosseini
Keyword(s):  
Prior Knowledge ◽  
Success Factors ◽  
Opportunity Recognition ◽  
Tourism Industry ◽  
Entrepreneurial Opportunity ◽  
Content Type ◽  
Factors Affecting ◽  
Positive Effects ◽  
Entrepreneurial Alertness ◽  
Entrepreneurial Opportunities

Purpose The purpose of this paper is to examine the antecedents of entrepreneurial opportunity recognition. Design/methodology/approach Questionnaire data were collected from 220 senior tourism business members in Iran. Findings The results show that an individual’s self-efficacy, prior knowledge and social networks, all had positive effects on entrepreneurial alertness. Also, entrepreneurial alertness contributed significantly to entrepreneurial opportunity recognition. Research limitations/implications The findings show that social network was the most important predictor among all other of the antecedents of entrepreneurial opportunity recognition. Because the data were limited to tourism industry, future studies need to validate these findings in other industries. Practical Implications Findings of this study suggest that to increase entrepreneurial opportunity recognition ability, it is critical for tourism businesses to invest in developing and enhancing individual ability. Originality/value The value of this paper lies in its contribution to understanding better the predictors to become entrepreneurs in tourism. Particularly, the paper adds to the existing literature by showing that the key success factors for entrepreneurial alertness are individual abilities, especially individual social contacts. People who want to work in the tourism industry should promote own communication network with other businesses and people to find new entrepreneurial opportunities. It is better they work in areas that have enough prior knowledge and experiences.

scholarly journals How Does Social Media Influence College Students to Recognize Entrepreneurial Opportunities? - Evidence from China

2021 ◽  
Vol 9 (2) ◽  
pp. 71
Author(s):  
Eunyoung Nam ◽  
Peng Xiong
Keyword(s):  
College Students ◽  
Social Capital ◽  
Social Media ◽  
Opportunity Recognition ◽  
Entrepreneurial Opportunity ◽  
Entrepreneurial Alertness ◽  
Entrepreneurial Opportunities ◽  
The Impact ◽  
Moderating Role ◽  
Priori Knowledge

The rapid development of information technology is having a profound impact on college students' entrepreneurial behavior,and accurately recognize entrepreneurial opportunities will affect the success or failure of individual entrepreneurship. The purpose of this study is to explore if and how social media influences college students to recognize entrepreneurial opportunities. A systematic review of relevant research results including social media in the field of entrepreneurship, entrepreneurship of college students, etc., this paper puts forward five dimensions and six hypotheses, including entrepreneurial alertness, priori knowledge, social capital, entrepreneurial opportunity recognition, and social media. A total of 508 valid questionnaires were obtained by designing questionnaires, organizing surveys, and screening data for college students. Through the reliability and validity test, correlation analysis, and hypothesis test analysis of the returned questionnaire data, all six hypotheses were verified. The empirical analysis shows that social media can significantly affect the recognition of entrepreneurial opportunities for college entrepreneurs. priori knowledge and entrepreneurial alertness play a mediating role and a moderating role respectively in this process. Meanwhile, priori knowledge plays a significant positive role in promoting entrepreneurial vigilance. Social capital has a direct and positive impact on college students' entrepreneurial opportunity recognition, and plays a moderating role in the impact of social media on college students' entrepreneurial opportunity recognition.

IN SEARCH OF ENTREPRENEURIAL OPPORTUNITIES — AN INTEGRATED MODEL

2013 ◽  
Vol 21 (03) ◽  
pp. 249-274 ◽  
Author(s):  
HERNAN E. RIQUELME
Keyword(s):  
Social Networks ◽  
Research Study ◽  
Opportunity Recognition ◽  
Economic Environment ◽  
Integrative Model ◽  
Significant Variable ◽  
Entrepreneurial Opportunity ◽  
Strong Ties ◽  
Entrepreneurial Opportunities ◽  
Study Results

The aim of this research study is to test an integrative model of entrepreneurial opportunity recognition based on theories of cognition, social capital, environmental development and personality. 240 entrepreneurs in the services industry participated in this survey. Multiple regression analysis was used to test the model and find the factors that predict entrepreneurial opportunity recognition. Overall, eight hypotheses were tested and six were supported. Schema was found to be the strongest significant variable amongst all. The study results indicate that entrepreneurs who discover opportunities organize prior knowledge and information related to their field in a manner that is easily accessible, have confidence in themselves, use social networks (both weak and strong ties) and see opportunities in changes in the economic environment. The study implies that potential entrepreneurs should be supported in terms of their social networks and instructed in the beliefs about the information and changes in the environment needed to spot opportunities. Governments play a role in providing a munificent economic environment.

scholarly journals Examining the role of social network size and structural holes

2000 ◽  
Vol 3 (2) ◽  
pp. 47-59 ◽  
Author(s):  
Robert P. Singh ◽  
Ralph C. Hybel ◽  
Gerald E. Hill
Keyword(s):  
Social Network ◽  
Network Size ◽  
Opportunity Recognition ◽  
Entrepreneurial Opportunity ◽  
Structural Holes ◽  
Recognition Process ◽  
Social Network Size

This study examines the importance of social network size and structural holes within the network to the entrepreneurial opportunity recognition process.

scholarly journals Influence of Social Network Strength on Entrepreneurial Opportunity Recognition: A Chain Mediation Model of Need Knowledge and Technological Knowledge

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Jing Fan ◽  
Jiafu Su
Keyword(s):  
Social Network ◽  
Technological Knowledge ◽  
Opportunity Recognition ◽  
Mediation Model ◽  
Entrepreneurial Opportunity ◽  
Mediating Role ◽  
Entrepreneurial Opportunities ◽  
Network Strength ◽  
A Chain ◽  
The Relationship

Entrepreneurial opportunity recognition is a key focus of entrepreneurship research and has received considerable attention in recent years. Previous research has highlighted that social network strength, need knowledge, and technological knowledge are important factors in entrepreneurial opportunity recognition and that these factors in isolation cannot sufficiently explain how entrepreneurial opportunities are recognized. Nonetheless, little is known about the effect that social network strength may exert on entrepreneurial opportunity recognition through need knowledge and technological knowledge. Building on social network theory, this study develops and examines a chain mediation model that incorporates need knowledge and technological knowledge into the relationship between social network strength and entrepreneurial opportunity recognition. The results of this study demonstrate that the effect of social network strength on entrepreneurial opportunity recognition can be partitioned into the direct and indirect effects. In particular, the effect of social network strength on entrepreneurial opportunity recognition is mediated by need knowledge, not by technological knowledge. Moreover, need knowledge and technological knowledge play a continuous mediating role in the relationship between social network strength and entrepreneurial opportunity recognition. These findings extend the entrepreneurial opportunity recognition literature by casting light on the knowledge conduits linking social network strength to entrepreneurial opportunity recognition.

A psychological model of entrepreneurial decision making

2010 ◽  
Vol 38 (3) ◽  
pp. 357-363 ◽  
Author(s):  
Qing Miao ◽  
Ling Liu
Keyword(s):  
Decision Making ◽  
Prior Knowledge ◽  
Structural Equation ◽  
Equation Model ◽  
Opportunity Recognition ◽  
Entrepreneurial Opportunity ◽  
Mediating Role ◽  
Entrepreneurial Alertness ◽  
Entrepreneurial Decision ◽  
The Individual

A causal model of a mechanism related to entrepreneurial decision making was built using information obtained from psychological questionnaires (the Entrepreneurial Alertness Questionnaire, Miao, 2006; The Prior Knowledge Questionnaire, derived from Shane, 2000, and 2 questionnaires developed by Miao - The Entrepreneurial Opportunity and Entrepreneurial Decision Making Questionnaire). Based on data from 327 entrepreneurs, the hypothesized structural equation model was validated. Results indicated that the individual psychological factors (entrepreneurial alertness and prior knowledge) were the antecedents of entrepreneurial opportunity recognition and influenced entrepreneurial decision-making criteria. Therefore, it was evident that opportunity recognition played a key mediating role in the model.

PENGARUH SELF-EFFICACY, PRIOR KNOWLEDGE, DAN SOCIAL NETWORK TERHADAP OPPORTUNITY RECOGNITION DENGAN MEDIASI ENTREPRENEURIAL ALERTNESS PADA UMKM BIDANG KULINER BINAAN DINAS KUKM KOTA BANDUNG

2020 ◽  
Vol 4 (8) ◽  
pp. 1132-1145
Author(s):  
Novia Nabilla Mi'raj ◽  
Lia Yuldinawati
Keyword(s):  
Social Network ◽  
Prior Knowledge ◽  
Self Efficacy ◽  
Opportunity Recognition ◽  
Entrepreneurial Alertness

Opportunity Recognition (OR) memiliki peranan penting dalam dunia wirausaha. Dalam penelitian terdahulu, OR sering disebutkan sebagai langkah kunci dalam proses kewirausahaan. Penelitian ini bertujuan untuk mengetahui seberapa signifikan pengaruh dan arah hubungan Self-Efficacy (SE), Prior Knowledge (PK), Social Network (SN) dan terhadap OR dengan mediasi Entrepreneurial Alertness (EA). Objek pada penelitian adalah UMKM bidang kuliner binaan Dinas KUKM Kota Bandung. Data dalam penelitian ini didapat melalui penyebaran kuesioner secara online kepada 339 sampel dari 2221 populasi UMKM bidang kuliner binaan Dinas KUKM Kota Bandung. Kuesioner terdiri atas beberapa pernyataan dengan pilihan jawaban berupa 5 skala likert. Dalam pengujian hipotesis menunjukkan bahwa semua faktor secara positif berhubungan dengan OR. Selain itu hasil menunjukkan bahwa SE tidak mempengaruhi OR secara signifikan, dan yang memiliki pengaruh paling signifikan adalah SN.

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