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A TYPOLOGY OF ENTREPRENEURIAL OPPORTUNITY

A TYPOLOGY OF ENTREPRENEURIAL OPPORTUNITY This article explores the phenomenon of entrepreneurial opportunity. Entrepreneurial opportunity is depicted as a nexus between the ebb and flow of the environment and our personal, family and business disposition, reflected in our personal knowledge. Opportunity recognition therefore must be seen as an ability not uniform throughout the community. Entrepreneurial opportunity is defined and described as existing within four typologies; imitation, allocative, discovery, and construction, which all have individual characteristics. The paper discusses seeing opportunity based upon prior knowledge, emotional sensitivity, and one’s current perspective. The entrepreneurial process and evaluation of any opportunity is considered with a modified SWOT configuration. JEL codes: L26 Keywords: entrepreneurship, opportunity, perception, opportunity evaluation, chance, SWOT http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

A TYPOLOGY OF ENTREPRENEURIAL OPPORTUNITY

MURRAY HUNTER
Economics, Management, and Financial Markets , Volume 8 (2): 40 – Jan 1, 2013
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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
1842-3191
eISSN
1938-212X
Publisher site
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Abstract

This article explores the phenomenon of entrepreneurial opportunity. Entrepreneurial opportunity is depicted as a nexus between the ebb and flow of the environment and our personal, family and business disposition, reflected in our personal knowledge. Opportunity recognition therefore must be seen as an ability not uniform throughout the community. Entrepreneurial opportunity is defined and described as existing within four typologies; imitation, allocative, discovery, and construction, which all have individual characteristics. The paper discusses seeing opportunity based upon prior knowledge, emotional sensitivity, and one’s current perspective. The entrepreneurial process and evaluation of any opportunity is considered with a modified SWOT configuration. JEL codes: L26 Keywords: entrepreneurship, opportunity, perception, opportunity evaluation, chance, SWOT

Journal

Economics, Management, and Financial Markets – Addleton Academic Publishers

Published: Jan 1, 2013

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