A TYPOLOGY OF ENTREPRENEURIAL OPPORTUNITY
Its important to know where entrepreneurial opportunity comes from in order to evaluate the feasibility of any 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.
A Typology of Opportunity can be accessed here
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How did and how does Asians grow businesses into huge empires without any knowledge of "Western" concepts and practices? Maybe Asian bosses can't even read a foreign (Western) language. Many Malaysian towkays have not even been to any of our shitty universities (how lucky!)
The biggest example of the recent decades have been the Chinese in China totally unexposed to the West and their business schools which couldn't grow roots there.
Books, seminars, and consulting outfits were around for a decade or so, but all the while the general attitude of the Chinese was to go it alone and beat their own paths. Many Chinese just couldn't suffer the foreign uncles who actually knew very little about China.
And didn't they do well?! Just look at what China is and where China is.
To "Save Malaysia", the key idea is to learn from, and even copy China.
You can also learn studying why the West has spiralled down the toilet waste pipe. Take a deep dive there.
A hardworking, intelligent, highly educated manpower, a gomen of mostly technocrats, and we're nearly there.
Or maybe not...
Ok, go back to your sleep..!
Need to distill these into precise mathematical expressions, then optimise it to get the best value of all paramenters involved.