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What is an Entrepreneurial Opportunity?

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  • Jeffery S. McMullen

    ()

  • Lawrence A. Plummer

    ()

  • Zoltan J. Acs

    ()

Abstract

What an entrepreneurial opportunity is and from whence it comes are important issues for understanding how markets function and come into being. In addition to describing the forum held on the topic and summarizing the contributions of the articles that appear in the special issue, this article shares a number of lessons learned during the conference and the editorial process. We explore three of the most important reasons for confusion about the opportunity construct: (1) the “objectivity†of opportunity, (2) the perceived importance of one particular individual in determining the direction of the social world and (3) what distinguishes the sub-class of “entrepreneurial†opportunity from the broader category of opportunity in general. Finally, we offer some directions for future research by illuminating important issues that emerged from the conference but remain largely unanswered by the papers of this special issue.

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Bibliographic Info

Paper provided by Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group in its series Papers on Entrepreneurship, Growth and Public Policy with number 2007-10.

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Length: 25 pages
Date of creation: Feb 2007
Date of revision:
Handle: RePEc:esi:egpdis:2007-10

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Keywords: entrepreneurial opportunity; creation; knowledge; discovery; strategy;

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References

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  1. S. Fukuda-Parr, 2003. "Editor's Introduction," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 4(3), pages 323-324.
  2. J. David Baldwin & Ronald L. Oaxaca, 2003. "Editors' Introduction," American Economic Review, American Economic Association, vol. 93(2), pages 7-7, May.
  3. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
  4. Jeffery S. McMullen & Dean A. Shepherd, 2006. "Encouraging Consensus-Challenging Research in Universities," Journal of Management Studies, Wiley Blackwell, vol. 43(8), pages 1643-1669, December.
  5. H�bert, Robert F. & Link, Albert N., 2007. "Historical Perspectives on the Entrepreneur," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 2(4), pages 261-408, February.
  6. Simon, Herbert A, 1986. "Rationality in Psychology and Economics," The Journal of Business, University of Chicago Press, vol. 59(4), pages S209-24, October.
  7. Holcombe, Randall G, 2003. " The Origins of Entrepreneurial Opportunities," The Review of Austrian Economics, Springer, vol. 16(1), pages 25-43, March.
  8. R. Kanbur & A.J. Venables, 2003. "Editors' Introduction:," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 12(4), pages 473-475, December.
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Cited by:
  1. Ács, Zoltán J. & Autio, Erkko & Szerb, László, 2014. "National Systems of Entrepreneurship: Measurement issues and policy implications," Research Policy, Elsevier, vol. 43(3), pages 476-494.
  2. repec:eme:jecpps:v:5:y:2011:i:4:p:265-285 is not listed on IDEAS
  3. Jeroen de Jong & Sander Wennekers, 2008. "Intrapreneurship; Conceptualizing entrepreneurial employee behaviour," Scales Research Reports H200802, EIM Business and Policy Research.
  4. Vaghely, Ivan P. & Julien, Pierre-André, 2010. "Are opportunities recognized or constructed?: An information perspective on entrepreneurial opportunity identification," Journal of Business Venturing, Elsevier, vol. 25(1), pages 73-86, January.
  5. Koellinger, Ph.D., 2007. "Why Are Some Entrepreneurs More Innovative Than Others?," ERIM Report Series Research in Management ERS-2007-024-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
  6. Gries, Thomas & Naudé, Wim, 2011. "Entrepreneurship and human development: A capability approach," Journal of Public Economics, Elsevier, vol. 95(3), pages 216-224.
  7. Gary Akehurst & José Comeche & Miguel-Angel Galindo, 2009. "Job satisfaction and commitment in the entrepreneurial SME," Small Business Economics, Springer, vol. 32(3), pages 277-289, March.
  8. Zoltan J. Acs & David B. Audretsch & Pontus Braunerhjelm & Bo Carlsson, 2005. "The Knowledge Spillover Theory of Entrepreneurship," Papers on Entrepreneurship, Growth and Public Policy 2005-27, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  9. Hulbert, Bev & Gilmore, Audrey & Carson, David, 2013. "Sources of opportunities used by growth minded owner managers of small and medium sized enterprises," International Business Review, Elsevier, vol. 22(1), pages 293-303.
  10. Steffen Korsgaard, 2011. "Opportunity formation in social entrepreneurship," Journal of Enterprising Communities: People and Places in the Global Economy, Emerald Group Publishing, vol. 5(2), pages 265-285, September.
  11. Eleonore Huang Vogel, 2012. "Entrepreneurial Opportunity Recognition and Exploitation in the Academia: a Dynamic Process of Networking," ERSA conference papers ersa12p1091, European Regional Science Association.
  12. Thomas Gries & Wim Naudé, 2010. "Entrepreneurship and structural economic transformation," Small Business Economics, Springer, vol. 34(1), pages 13-29, January.
  13. Jean-Pierre Huiban, 2011. "The spatial demography of new plants: urban creation and rural survival," Small Business Economics, Springer, vol. 37(1), pages 73-86, July.
  14. Naude, Wim, 2008. "Entrepreneurship in Economic Development," Working Paper Series RP2008/20, World Institute for Development Economic Research (UNU-WIDER).

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