Outcome Implications of Opportunity Creation / Discovery Processes
Year: 2003
Type: preprint
Abstract: Research on the processes for detecting and developing entrepreneurial opportunity remains relatively undeveloped. The existing literature relies on a conceptual base in which opportunities are a result of environmental conditions, or alternatively the result of individual actions. Thus, based on earlier theoretical work we have identified four distinct opportunity detection/development processes: (1) proactive search, (2) problemistic search, (3) fortuitous discovery, and (4) opportunity creation. This research is part of a larger study that will attempt to create a taxonomy of opportunity detection/development processes and show that the process is influenced by the resource base of the entrepreneur and has an influence on the subsequent opportunity development and exploitation process. In this phase of the research we use in-depth interviews to produce grounded theory that will more adequately allow us to determine whether opportunity detection and development processes can be effectively typed. The in depth interviews reveal that opportunity identification is often a two-stage process, product/service identification and market identification. The two processes often seem to operate independently of each other.
Source: SSRN Electronic Journal
Institutions: Utah State University, Colorado State University
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1472745939