This paper builds on existing theoretical and empirical studies in the area of entrepreneurial opportunity identification and development. It utilizes Dubin's (Theory Building, (second ed.). Free Press, New York, 1978.) theory building framework to propose a theory of the opportunity identification process. It identifies entrepreneur's personality traits, social networks, and prior knowledge as antecedents of entrepreneurial alertness to business opportunities. Entrepreneurial alertness, in its turn, is a necessary condition for the success of the opportunity identification triad: recognition, development, and evaluation. A theoretical model, laws of interaction, a set of propositions, and suggestions for further research are provided.
Journal of Business Venturing – Elsevier
Published: Jan 1, 2003
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