Modeling the Nascent Venture Opportunity Exploitation Process Across Time
Year: 2001
Type: preprint
Abstract: The process of opportunity exploitation within both innovative and equilibrium venture opportunities is explored. Different venture opportunities exist, with innovative opportunities and equilibrium opportunities in contrast to each other. Innovative opportunities contain routines and competencies that are significantly different from existing firms. However, equilibrium opportunities contain routines and competencies that slightly differ from existing firms. The venture exploitation process is further explored, and seven hypotheses regarding this process are presented.Data were collected from the Swedish panel study of business startups, and many of the hypotheses were fully or partially supported.The overall findings suggest that innovative exploitation is a longer, more non-linear process when compared to equilibrium exploitation.Over time, the exploitation process appears to become more linear and shorter. Equilibrium opportunity and innovative opportunity are both influenced by utilitarian reinforcement. Innovative opportunity is also influenced by specialist strategy and tacit knowledge.The only rejected hypothesis was the opportunity invariance hypothesis.The implications of these findings for an opportunity-based theory of entrepreneurship, for a dynamic resource perspective, for entrepreneurship research design and methods, and for entrepreneurs are discussed. (AKP)
Source: SSRN Electronic Journal
Author: Mikael Samuelsson
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W303920709