RE-CONTEXTUALIZING OPPORTUNITY AS ARTIFACT SIGNALLING FOR ENTREPRENEURIAL ACTION

2021 ◽  
pp. 2150021
Author(s):  
DAVID LEONG
Keyword(s):  
Dynamic Approach ◽  
Entrepreneurial Process ◽  
Developmental Context ◽  
Entrepreneurial Opportunities ◽  
Signalling Theory ◽  
Entrepreneurial Action ◽  
Over Time

In exploring entrepreneurial action as a response to opportunities, this paper uses signalling theory to provide new insights as the entrepreneur moves from perception to recognition to enactment. We adopt a dynamic approach to how entrepreneurs perceive opportunities and form initial opportunity beliefs, recognizing that, over time, beliefs change. The perceived potentialities from the signals arising from opportunities also change. Strength of the initial opportunity beliefs, morph-ability of opportunities, frequency of opportunity appearances, multiple interpretations of opportunity, latency of opportunity, observability (intensity, visibility, strength and clarity), distortions of opportunity and false opportunity are topics that are not sufficiently addressed in research on entrepreneurial opportunities. We argue that the signalling effects open new avenues of inquiry related to the central role of opportunity in the entrepreneurial process. Instead of seeing opportunity from either the discovery or creation approaches, opportunity should be viewed as an artifact with embedded perceived potentialities. Implications are drawn for the developmental context.

Re-contextualizing Entrepreneurial Opportunity as artefact Signalling for Entrepreneurial Action

2021 ◽  
Author(s):  
David Leong
Keyword(s):  
Building Blocks ◽  
Dynamic Approach ◽  
Entrepreneurial Opportunity ◽  
Entrepreneurial Opportunities ◽  
Signalling Theory ◽  
Entrepreneurial Action ◽  
Over Time

<p>This paper reviews the concept of entrepreneurial actions arising from the opportunities using signalling theory as the building blocks to discuss the process from perception, recognition to enactment. By adopting a dynamic approach to study how entrepreneurs see opportunities, particularly the initial opportunities beliefs, over time, beliefs change. The perceived potentialities from the signals arising from opportunities also change. Strength of the initial opportunity beliefs, morph-ability of opportunities, frequency of opportunity appearances, multiple interpretations of opportunity, latency of opportunity, observability (intensity, visibility, strength and clarity), distortions of opportunity and false opportunity are topics that are scarcely addressed in entrepreneurial opportunities studies. We argue that the signalling effects open new veins of inquiry related to opportunity and entrepreneurial actions. Instead of seeing opportunity from either the discovery or creation approaches, opportunity should be viewed as opportunity-as-artefact with embedded perceived potentialities.</p>

scholarly journals Re-contextualizing Entrepreneurial Opportunity as artefact Signalling for Entrepreneurial Action

2021 ◽  
Author(s):  
David Leong
Keyword(s):  
Building Blocks ◽  
Dynamic Approach ◽  
Entrepreneurial Opportunity ◽  
Entrepreneurial Opportunities ◽  
Signalling Theory ◽  
Entrepreneurial Action ◽  
Over Time

<p>This paper reviews the concept of entrepreneurial actions arising from the opportunities using signalling theory as the building blocks to discuss the process from perception, recognition to enactment. By adopting a dynamic approach to study how entrepreneurs see opportunities, particularly the initial opportunities beliefs, over time, beliefs change. The perceived potentialities from the signals arising from opportunities also change. Strength of the initial opportunity beliefs, morph-ability of opportunities, frequency of opportunity appearances, multiple interpretations of opportunity, latency of opportunity, observability (intensity, visibility, strength and clarity), distortions of opportunity and false opportunity are topics that are scarcely addressed in entrepreneurial opportunities studies. We argue that the signalling effects open new veins of inquiry related to opportunity and entrepreneurial actions. Instead of seeing opportunity from either the discovery or creation approaches, opportunity should be viewed as opportunity-as-artefact with embedded perceived potentialities.</p>

scholarly journals Entrepreneurial thinking and action in opportunity development: A conceptual process model

2019 ◽  
Vol 38 (1) ◽  
pp. 21-40
Author(s):  
Tommy Høyvarde Clausen
Keyword(s):  
Social Interaction ◽  
Process Model ◽  
Translation Theory ◽  
Entrepreneurial Opportunities ◽  
Lateral Translation ◽  
Entrepreneurial Action ◽  
Context Specific ◽  
The Relationship ◽  
Over Time

This article develops a conceptual process model of how founders develop entrepreneurial ideas into opportunities. Drawing on translation theory, I conceptualise opportunity development as a process of translation between three interlinked but distinct entities over time: ostensive ideas (abstract entrepreneurial ideas), performative ideas (context-specific entrepreneurial ideas) and venture offerings. Whereas ostensive and performative ideas reside in the realm of conceptual and entrepreneurial thinking, venture offerings reside in actual business worlds and entrepreneurial action. The model identifies learning about the abstract nature of the entrepreneurial idea itself (ostensive) through lateral translation and abstraction and separates this from developing a concrete manifestation of the idea in time and space (performative) through vertical translation and concretisation. This is different from the venture offering, which is a specific empirical translation of the performative idea. Entrepreneurs receive feedback about the viability of the venture offering from social interaction that influence further opportunity development. The model portrays opportunity development as a triple-looped process driven by distinct types of translation, lateral, vertical and empirical. It clarifies the relationship between entrepreneurial ideas and entrepreneurial opportunities and maps the role of thinking and action in this regard.

scholarly journals Psychological Well-Being Sustainable during Entrepreneurial Process—The Moderating Role of Entrepreneurial Creativity

2021 ◽  
Vol 13 (19) ◽  
pp. 10732
Author(s):  
Chengchun Wang ◽  
Norbert Mundorf ◽  
Ann Salzarulo-McGuigan
Keyword(s):  
Early Stage ◽  
New Ventures ◽  
Well Being ◽  
Entrepreneurial Process ◽  
Psychological Well Being ◽  
Student Entrepreneurs ◽  
Dynamic Perspective ◽  
Entrepreneurial Action ◽  
Moderating Role

Despite pitfalls during the entrepreneurial journey, entrepreneurship offers the opportunity to illuminate new ventures and preserve psychological well-being to sustain entrepreneurial development. From a dynamic perspective, this study discusses the early stage of the entrepreneurial process affecting student entrepreneurs’ psychological well-being and examines the moderating role of entrepreneurial creativity. By building a framework with the data of 1873 student entrepreneurs across 36 university business incubators in China involved in entrepreneurship activity, we found that entrepreneurial passion, alertness and intention had a positive correlation with entrepreneurs’ psychological well-being, but entrepreneurial action had the opposite effect. Entrepreneurial creativity positively moderated relationships between entrepreneurial action and students’ psychological well-being. This finding contributes to a full understanding of students’ psychological well-being on their entrepreneurial journey in the context of COVID-19 and eases the pressure of entrepreneurship by strengthening entrepreneurial creativity education.

scholarly journals A Dynamic Model of Entrepreneurial Opportunity: Integrating Kirzner's and Mises's Approaches to Entrepreneurial Action.

2020 ◽  
Vol 23 (3-4) ◽  
pp. 499-541 ◽  
Author(s):  
Alexander McKelvie ◽  
Johan Wiklund ◽  
Jeffery McMullen ◽  
Almantas Palubinskas
Keyword(s):  
Case Studies ◽  
Dynamic Model ◽  
Entrepreneurial Opportunity ◽  
Temporal Perspective ◽  
Entrepreneurship Research ◽  
Opportunity Discovery ◽  
Entrepreneurial Action ◽  
Longitudinal Case Studies ◽  
Over Time

We highlight the important role that time plays in conceptualizations of opportunity in entrepreneurship research. Through two longitudinal case studies, we introduce a more dynamic understanding of opportunities than portrayed by current theorizing, which tends to emphasize “opportunity discovery.” By adopting a dynamic temporal perspective, we integrate Kirzner’s and Mises’s approaches to entrepreneurial action to generate novel insights about how entrepreneurs view opportunities as initial opportunity beliefs, how these beliefs change over time, and how these changes help inform scholarly research of opportunities. We argue that taking the role of time into consideration opens up new questions related to opportunity and the dynamics of its development.

Microfoundations of Collaboration in Entrepreneurship

2019 ◽  
pp. 753-784
Author(s):  
Carlo Salvato
Keyword(s):  
New Venture ◽  
Macro Level ◽  
Levels Of Analysis ◽  
Future Research ◽  
Entrepreneurial Ecosystem ◽  
Entrepreneurial Opportunities ◽  
Entrepreneurial Action

This chapter illustrates a multilevel framework to understand the microfoundations of collaboration in entrepreneurship. Early scholars saw the identification and exploitation of entrepreneurial opportunities as an individual endeavor. More recently, researchers started to examine entrepreneurial action as resulting from the collaboration among individuals within a collective such as a nation, an industry, an entrepreneurial ecosystem, a family, a new venture, or an existing company. In this movement toward the identification of higher levels of analysis, the power of macro-level factors tended to prevail in explaining entrepreneurial phenomena. As a result, important details of how individual entrepreneurs and their interactions with other agents shape the emergence of entrepreneurial phenomena are lost. To redress this imbalance, three multilevel mechanisms are introduced to explain the microfoundations of the role collaboration plays in the development of entrepreneurial opportunities. The role of collaboration in each of these mechanisms is illustrated by providing a review of existing studies and detailed directions for future research.

scholarly journals Middle Managers’ Strategic Role in the Corporate Entrepreneurial Process: Attention-Based Effects

2011 ◽  
Vol 37 (6) ◽  
pp. 1586-1610 ◽  
Author(s):  
Charlotte R. Ren ◽  
Chao Guo
Keyword(s):  
Middle Managers ◽  
Strategic Orientation ◽  
Top Management ◽  
Entrepreneurial Process ◽  
Slack Resources ◽  
Entrepreneurial Opportunities ◽  
Different Types ◽  
Strategic Role ◽  
Policy Windows

This article examines the strategic role of middle managers in the corporate entrepreneurial process from an attention-based perspective. By integrating literatures from multiple disciplines, the authors delineate the attention-based effects on how middle managers provide the impetus for different types of entrepreneurial opportunities (i.e., exploratory vs. exploitative initiatives). Specifically, middle managers, constrained by the attention structures of the firm, likely prescreen entrepreneurial opportunities from lower organizational levels and attend primarily to those that align with the strategic orientation of the firm. This tendency may be moderated by the presence of other players, middle managers’ structural positions, and the availability of slack resources. Moreover, in their efforts to sell initiatives to top management, middle managers may leverage “policy windows”—patterned regularities and irregularities in and around the organization—to exploit existing attention structures to their advantage or perhaps to dismantle those structures.

scholarly journals The Role of Prior Knowledge in the Process of Recognizing Entrepreneurial Opportunities

2021 ◽  
Author(s):  
Felipe Baeta ◽  
Tales Andreassi
Keyword(s):  
Prior Knowledge ◽  
The Other ◽  
Professional Experience ◽  
Crucial Aspect ◽  
Entrepreneurial Process ◽  
Educational Activities ◽  
Entrepreneurial Opportunities ◽  
Other Hand ◽  
Depth Interviews

Recognizing opportunities has often been raised as a crucial aspect of the entrepreneurial process. It seems that the ability to identify, analyze and develop entrepreneurial opportunities is what differentiates entrepreneurs from those who are not. This assertion highlights the relevance of understanding in greater depth the variables that have an influence on the process of recognizing opportunities. In this context, an entrepreneur’s prior knowledge and experience, which can be broken down into three domains, have an impact on the dimensions of recognizing opportunities, such as the scope of the opportunity and the intensity of the process. Deriving from this dynamic, the objective of this study is to understand the role of prior knowledge in the process of recognizing entrepreneurial opportunities. By way of in-depth interviews with ten entrepreneurs, it was concluded that those who have limited professional experience attribute greater relevance in the process to their educational activities. When it comes to recognizing opportunities, however, these same entrepreneurs have a broader scope and approach the process in a more intense way. Entrepreneurs who have a better-defined mental framework, on the other hand, which results from their vast professional experience, tend to channel any opportunities they recognize towards the industry in which they operate and this results in fewer potential businesses.

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