A Typology of Entrepreneurial Opportunity

A break-down of what really constitutes entrepreneurial opportunity

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This article will assist you in understanding what constitutes real entrepreneurial opportunity and the value it can create.

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.

Economics, Management, and Financial Markets, Volume 8(2), 2013, pp. 128–166, ISSN 1842-3191

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