Opportunity Recognition
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Opportunity Recognition in Entrepreneurial Teams. Discussion Processes and Creative Outcomes
Master's Thesis from the year 2017 in the subject Business economics - Company formation, Business Plans, grade: 1,0, Technical University of Munich (TUM School of Management), language: English, abstract: This thesis is approaching this issue of opportunity recognition based on team creative cognition and a product-oriented view at creativity, and thus at how the team discussion process of idea-generation is shaping entrepreneurial opportunities. Substantial gains can be made by entrepreneurial teams when recognizing promising business ideas. Academic research at the intersection of entrepreneurship and cognition has thus recently focused on how entrepreneurial teams generate business ideas and opportunities in order to understand the team decision processes of recognizing original and feasible opportunities. Therefore, creativity (original and feasible outcome) in its multifaceted cognitive manner plays an essential role in generating ideas. However, empirical research on the influence of entrepreneurial team cognition (ETC) on the generation, recognition, and configuration of such ideas is still lacking. Based on existing literature in creative cognition the entire idea-generation process is operationalized through convergent and divergent thinking phases and analyzed through conducting a quantitative experiment to examine possible relationships between the created variables. It turns out, that in convergent thinking, entrepreneurial teams generated and recognized less original but more feasible idea sets and final opportunities. In this regard, divergent thinking has an enhancement effect on original sets of ideas. These first findings are finally discussed against the background of ETC and shown to help to facilitate entrepreneurship research in this context to new insights separated from personal creativity skills, and further to assist entrepreneurs in recognizing opportunities in a practical way.
Opportunity Recognition
Author: Hariharan Krishnan Nair
language: en
Publisher: LAP Lambert Academic Publishing
Release Date: 2010-08
Opportunity recognition is a phenomenon innate to every individual. Opportunity identification, evaluation and exploitation take place in all people, knowingly or unknowingly. The success of an individual or organization solely depends on recognizing and pursuing a viable opportunity that will provide value and worth to them. The extent to which an individual recognizes opportunity will depend on the make-up of the various dimensions of the human capital. This book has taken a view that opportunity recognition is a phenomenon occurring not only in entrepreneurs but also in every person. The extent of recognizing opportunities might differ and vary among individuals. This study describes opportunity recognition as a function of need and capability of the person concerned. This book explains various aspects of opportunity recognition and human capabilities that enable the individual to recognize opportunities and pursue them for success and growth. This book will be helpful in career guidance, academic research, enlightening entrepreneurs and managers and every other individual to know and understand the secret of success and growth of the self.
Entrepreneurial Opportunity Recognition Through Social Networks
Provides the first empirical support for the importance of network characteristics other than size to idea identification and opportunity recognition.
