The Role of Different Opportunities in the Activation and Use of the Business Opportunity Prototype

Silvia F. Costa, Michel Léon Ehrenhard, Antonio Caetano, Susana C. Santos

Research output: Contribution to journalArticle

  • 5 Citations

Abstract

This study analyses how the different nature of business opportunities affects the way potential entrepreneurs recognize a business opportunity prototypical features. Although scholars have examined the reasons why some individuals, but not others, identify business opportunities, little is known about how the nature of the business opportunity (i.e., its context) affects the recognition of the business opportunity characteristics. Moreover, most studies on opportunity identification rely either on retrospective data or on entrepreneurs’ prior knowledge and experience. Thus, little is said about how cognitive structures are used by potential entrepreneurs upon opportunity recognition. Participants in this study (70 university students) were presented with one of two scenarios describing two different business opportunities – an independent entrepreneurial opportunity and a business reformulation opportunity – and were asked to describe the business opportunity in their own words. The analysis performed showed that there are significant differences in the way respondents recognized the prototypical characteristics of both business opportunities. Specifically, participants were more risk-averse in the business reformulation opportunity than in the entrepreneurial opportunity. In the latter case, the participants focused more on customers. No differences were found regarding the identification of prototypical characteristics referring to profit.
LanguageEnglish
Pages58-72
JournalCreativity and innovation management
Volume25
Issue number1
DOIs
StatePublished - 8 Dec 2016

Fingerprint

Chemical activation
Industry
Prototype
Activation
Profitability
Students
Entrepreneurs

Keywords

  • METIS-313836
  • IR-98745

Cite this

@article{6c1b402fd54747b4a16e10a31864a50a,
title = "The Role of Different Opportunities in the Activation and Use of the Business Opportunity Prototype",
abstract = "This study analyses how the different nature of business opportunities affects the way potential entrepreneurs recognize a business opportunity prototypical features. Although scholars have examined the reasons why some individuals, but not others, identify business opportunities, little is known about how the nature of the business opportunity (i.e., its context) affects the recognition of the business opportunity characteristics. Moreover, most studies on opportunity identification rely either on retrospective data or on entrepreneurs’ prior knowledge and experience. Thus, little is said about how cognitive structures are used by potential entrepreneurs upon opportunity recognition. Participants in this study (70 university students) were presented with one of two scenarios describing two different business opportunities – an independent entrepreneurial opportunity and a business reformulation opportunity – and were asked to describe the business opportunity in their own words. The analysis performed showed that there are significant differences in the way respondents recognized the prototypical characteristics of both business opportunities. Specifically, participants were more risk-averse in the business reformulation opportunity than in the entrepreneurial opportunity. In the latter case, the participants focused more on customers. No differences were found regarding the identification of prototypical characteristics referring to profit.",
keywords = "METIS-313836, IR-98745",
author = "Costa, {Silvia F.} and Ehrenhard, {Michel L{\'e}on} and Antonio Caetano and Santos, {Susana C.}",
year = "2016",
month = "12",
day = "8",
doi = "10.1111/caim.12160",
language = "English",
volume = "25",
pages = "58--72",
journal = "Creativity and innovation management",
issn = "0963-1690",
publisher = "John Wiley and Sons Ltd",
number = "1",

}

The Role of Different Opportunities in the Activation and Use of the Business Opportunity Prototype. / Costa, Silvia F.; Ehrenhard, Michel Léon; Caetano, Antonio; Santos, Susana C.

In: Creativity and innovation management, Vol. 25, No. 1, 08.12.2016, p. 58-72.

Research output: Contribution to journalArticle

TY - JOUR

T1 - The Role of Different Opportunities in the Activation and Use of the Business Opportunity Prototype

AU - Costa,Silvia F.

AU - Ehrenhard,Michel Léon

AU - Caetano,Antonio

AU - Santos,Susana C.

PY - 2016/12/8

Y1 - 2016/12/8

N2 - This study analyses how the different nature of business opportunities affects the way potential entrepreneurs recognize a business opportunity prototypical features. Although scholars have examined the reasons why some individuals, but not others, identify business opportunities, little is known about how the nature of the business opportunity (i.e., its context) affects the recognition of the business opportunity characteristics. Moreover, most studies on opportunity identification rely either on retrospective data or on entrepreneurs’ prior knowledge and experience. Thus, little is said about how cognitive structures are used by potential entrepreneurs upon opportunity recognition. Participants in this study (70 university students) were presented with one of two scenarios describing two different business opportunities – an independent entrepreneurial opportunity and a business reformulation opportunity – and were asked to describe the business opportunity in their own words. The analysis performed showed that there are significant differences in the way respondents recognized the prototypical characteristics of both business opportunities. Specifically, participants were more risk-averse in the business reformulation opportunity than in the entrepreneurial opportunity. In the latter case, the participants focused more on customers. No differences were found regarding the identification of prototypical characteristics referring to profit.

AB - This study analyses how the different nature of business opportunities affects the way potential entrepreneurs recognize a business opportunity prototypical features. Although scholars have examined the reasons why some individuals, but not others, identify business opportunities, little is known about how the nature of the business opportunity (i.e., its context) affects the recognition of the business opportunity characteristics. Moreover, most studies on opportunity identification rely either on retrospective data or on entrepreneurs’ prior knowledge and experience. Thus, little is said about how cognitive structures are used by potential entrepreneurs upon opportunity recognition. Participants in this study (70 university students) were presented with one of two scenarios describing two different business opportunities – an independent entrepreneurial opportunity and a business reformulation opportunity – and were asked to describe the business opportunity in their own words. The analysis performed showed that there are significant differences in the way respondents recognized the prototypical characteristics of both business opportunities. Specifically, participants were more risk-averse in the business reformulation opportunity than in the entrepreneurial opportunity. In the latter case, the participants focused more on customers. No differences were found regarding the identification of prototypical characteristics referring to profit.

KW - METIS-313836

KW - IR-98745

U2 - 10.1111/caim.12160

DO - 10.1111/caim.12160

M3 - Article

VL - 25

SP - 58

EP - 72

JO - Creativity and innovation management

T2 - Creativity and innovation management

JF - Creativity and innovation management

SN - 0963-1690

IS - 1

ER -