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Towards a schematic theory of entrepreneurial alertness

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  • Valliere, Dave

Abstract

This article is an investigation into Kirzner's concept of entrepreneurial alertness — its mechanism and its antecedents. By drawing from decision theory and schema theory, a model is developed to show how changes in the environment are mediated by entrepreneurial alertness and brought to the situated attention of entrepreneurs for evaluation. Entrepreneurial alertness is seen to be the application of unique schemata that allow the entrepreneur to impute meaning to environmental change that would not be imputed by other managers. It is argued that the alertness that allows entrepreneurs to see opportunity where others do not arises from differences in schematic richness, schematic association, and schematic priming. These three antecedents may therefore form a basis on which enhanced entrepreneurial alertness can be developed.

Suggested Citation

  • Valliere, Dave, 2013. "Towards a schematic theory of entrepreneurial alertness," Journal of Business Venturing, Elsevier, vol. 28(3), pages 430-442.
  • Handle: RePEc:eee:jbvent:v:28:y:2013:i:3:p:430-442
    DOI: 10.1016/j.jbusvent.2011.08.004
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    1. Srivastava, Smita & Sahaym, Arvin & Allison, Thomas H., 2021. "Alert and Awake: Role of alertness and attention on rate of new product introductions," Journal of Business Venturing, Elsevier, vol. 36(4).
    2. Murnieks, Charles Y. & Arthurs, Jonathan D. & Cardon, Melissa S. & Farah, Nusrat & Stornelli, Jason & Michael Haynie, J., 2020. "Close your eyes or open your mind: Effects of sleep and mindfulness exercises on entrepreneurs' exhaustion," Journal of Business Venturing, Elsevier, vol. 35(2).
    3. Pidduck, Robert J. & Busenitz, Lowell W. & Zhang, Yejun & Ghosh Moulick, Abhisekh, 2020. "Oh, the places you’ll go: A schema theory perspective on cross-cultural experience and entrepreneurship," Journal of Business Venturing Insights, Elsevier, vol. 14(C).

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