Advertisement

Prior Knowledge and Opportunity Recognition

  • Stefan Trzcielinski
Conference paper
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 793)

Abstract

Opportunities appear in the company’s environment. They are situations favorable to achieving company’s goals with available resources. To be exploited first the opportunity must be recognized. Entrepreneurial theories, using the achievements of Kerzner, assume that the recognition of opportunities is favored by the entrepreneurs’ prior knowledge. Knowledge can be obtained through professional experience and education especially higher education. It can be also gained by conducting analysis of business environment and marketing research. In this way, entrepreneur can obtain information and knowledge about market needs and the same about market opportunities. The paper presents the results of research conducted in Polish enterprises on the method of acquiring knowledge that leads to the identification of opportunities. Identification of opportunities has been described by the symptoms of their recognition. By using the Kruskal-Walis test and the multiple comparison test, it was found which methods of strategic analysis and marketing research and with what intensity should be used to support recognition of opportunities. It was also examined whether professional experience and level of education favors the use of strategic analysis methods and conducting marketing research to identify opportunities. The obtained results have both a theoretical and utilitarian value.

Keywords

Opportunity Opportunity recognition Prior knowledge Agility Entrepreneurship Entrepreneur alertness 

References

  1. 1.
    Goldman, S., Nagel, R., Preiss, K.: Agile Competitors and Virtual Organization. Strategies for Enriching the Customer. Van Nostrand Reinhold, New York (1995)Google Scholar
  2. 2.
    Jong, J., Marsili, O.: Schumpeter versus Kirzner: An empirical investigation of opportunity types. SCALES. Working paper, pp. 1–29, January 2010Google Scholar
  3. 3.
    Douhan, R., Henrekson, M.: Entrepreneurship and second-best institutions: going beyond Baumol’s typology. J Evol. Econ. 20, 629–643 (2010)CrossRefGoogle Scholar
  4. 4.
    Shane, S.: A general theory of entrepreneurship: the individual-opportunity nexus. Int. Small Bus. J. 22, 206–2016 (2004)CrossRefGoogle Scholar
  5. 5.
    Lewin, P.: Entrepreneurial opportunity as the potential to create value. Rev. Austrian Econ. 28, 1–15 (2015)CrossRefGoogle Scholar
  6. 6.
    Kirzner, I.M.: Competition and Entrepreneurshio. The University of Chicago Press, Chicago (1973)Google Scholar
  7. 7.
    Urwyler, M.: Opportunity Identification and Exploitation: A Case Study of Three Swiss-Based Software Companies. Dissertation no. 3183. Difo-Druck GmbH, Bamberg (2006)Google Scholar
  8. 8.
    Karlesky, M.J.: Identifying entrepreneurial opportunities: cognition and categorization in nascent entrepreneurs. https://deepblue.lib.umich.edu/bitstream/handle/2027.42/116674/karlesky_1.pdf?sequence=1&isAllowed=y
  9. 9.
    Alvarez, S.A., Barney, J.B., Young, S.L.: Debates in entrepreneurship: opportunity formation and implications for the field of entrepreneurship. In: Acs, Z.J., Audretsch, D.B. (eds.) Handbook of Entrepreneurship Research, pp. 23–45. Springer, New York (2010)Google Scholar
  10. 10.
    Trzcieliński, S., Trzcielińska, J.: Some elements of theory of opportunities. Hum. Factors Ergon. Manuf. Serv. Ind. 21, 124–131 (2011)CrossRefGoogle Scholar
  11. 11.
    Thompson, A., Strickland, A., Gamble, J.: Crafting and Executing Strategy: Concepts and Readings. McGraw-Hill Education, Europe (2015)Google Scholar
  12. 12.
    Fuduric, N.: The Sources of Entrepreneurial Opportunities: Perspectives on Individuals and Institutions. Institut for Samfundsudvikling og Planlægning, Aalborg Universitet, Aalborg (2008)Google Scholar
  13. 13.
    Ardichvilia, A., Cardozob, R., Ray, S.: A theory of entrepreneurial opportunity identification and development. J. Bus. Ventur. 18, 105–123 (2003)CrossRefGoogle Scholar
  14. 14.
    Yu-Lin, W.Y., Ellinger, D., Yen-Chun, J.W.: Entrepreneurial opportunity recognition: an empirical study of R&D personnel. Manag. Decis. 51, 248–266 (2013)CrossRefGoogle Scholar
  15. 15.
    Shane, S., Venkatarama, S.: The promise of entrepreneurship as a field of research. Acad. Manag. Rev. 25, 217–226 (2000)Google Scholar
  16. 16.
    Tang, J., Kacmar, K.M., Busenitz, L.: Entrepreneurial alertness in the pursuit of new opportunities. J. Bus. Ventur. 27, 77–94 (2012)CrossRefGoogle Scholar
  17. 17.
    Lim, W.L., Siri, R.X.: Opportunity recognition framework: exploring the technology entrepreneurs. Am. J. Econ. 5, 105–111 (2015)Google Scholar
  18. 18.
    Wlodarkiewicz-Klimek, H., Kalkowska, J., Trzcielinski, S., Pawlowski, E.: External conditions of enterprise development in knowledge-based economy. In: Human Factors of Global Society: A System of Systems Perspective, pp. 625–634. Tylor & Francis, USA (2014)Google Scholar
  19. 19.
    Motała, D., Pawlowski, E., Pawlowski, K., Trzcielinski, S.: Designing an effective management system for enterprises: concepts and verification. Hum. Factors Ergon. Manuf. 18, 525–545 (2008)CrossRefGoogle Scholar

Copyright information

© Springer International Publishing AG, part of Springer Nature 2019

Authors and Affiliations

  • Stefan Trzcielinski
    • 1
  1. 1.Poznan University of TechnologyPoznanPoland

Personalised recommendations