Towards conceptually comprehensive and integrated theory of entrepreneurial opportunity
Oksanen, Matilda (2012-12-06)
Towards conceptually comprehensive and integrated theory of entrepreneurial opportunity
(06.12.2012)
Julkaisun pysyvä osoite on:
https://urn.fi/URN:NBN:fi-fe201301241656
https://urn.fi/URN:NBN:fi-fe201301241656
Kuvaus
siirretty Doriasta
Tiivistelmä
Insufficient understanding of entrepreneurial opportunities characterizes entrepreneurship research
(Companys & McMullen 2006, 302). Subsequently, the purpose of this study was to analyze the
concept of entrepreneurial opportunity and to explore and synthetize the integrated theory of entrepreneurial
opportunity. A theoretical and concept analytical approach was adapted.
Findings of this study was that entrepreneurial opportunity concept was used for variety of different
phenomena. No commonly accepted definition existed. Altogether 24 attributes that described
the concept were found. The most frequently attached attributes were agent and action, new goods
and services, market, value, new means ends or both, and future. Further, the results implied that
opportunity could be best understood as a part of a process. Opportunity emerges out of intervened
factors. Changes in the environment together with factors related to knowledge, cognition and social
ties are the most important drivers of opportunity. Preventing factors that impeded the emergence of
opportunity were typically related to cognitive and organizational factors.
This study found a tendency towards more integrated theory of entrepreneurial opportunity. The
integrated theory acknowledged the usefulness of both discovery and creation theories of opportunity
in explaining opportunity. Yet three argument types of integrating two different opportunity theories
were identified. These were process category, contextual category and complementing category.
Opportunity is at the same time cognitive, social and linguistic construct, although it is shaped by
the objective environment. Opportunity requires linguistic endeavors to become explicit. Materialization
of opportunity occurs in a social context. Moreover, it is always characterized by some extent
of subjectivity, as opportunities cannot appear without the agent and their action. Due to these the
concept remains always to some extent ambiguous. Tolerating and harnessing change and investing
in human and social capital create the preeminent environment for the entrepreneurial opportunity to
be identified.
(Companys & McMullen 2006, 302). Subsequently, the purpose of this study was to analyze the
concept of entrepreneurial opportunity and to explore and synthetize the integrated theory of entrepreneurial
opportunity. A theoretical and concept analytical approach was adapted.
Findings of this study was that entrepreneurial opportunity concept was used for variety of different
phenomena. No commonly accepted definition existed. Altogether 24 attributes that described
the concept were found. The most frequently attached attributes were agent and action, new goods
and services, market, value, new means ends or both, and future. Further, the results implied that
opportunity could be best understood as a part of a process. Opportunity emerges out of intervened
factors. Changes in the environment together with factors related to knowledge, cognition and social
ties are the most important drivers of opportunity. Preventing factors that impeded the emergence of
opportunity were typically related to cognitive and organizational factors.
This study found a tendency towards more integrated theory of entrepreneurial opportunity. The
integrated theory acknowledged the usefulness of both discovery and creation theories of opportunity
in explaining opportunity. Yet three argument types of integrating two different opportunity theories
were identified. These were process category, contextual category and complementing category.
Opportunity is at the same time cognitive, social and linguistic construct, although it is shaped by
the objective environment. Opportunity requires linguistic endeavors to become explicit. Materialization
of opportunity occurs in a social context. Moreover, it is always characterized by some extent
of subjectivity, as opportunities cannot appear without the agent and their action. Due to these the
concept remains always to some extent ambiguous. Tolerating and harnessing change and investing
in human and social capital create the preeminent environment for the entrepreneurial opportunity to
be identified.