From supply to demand-driven opportunities : unravelling the role of the customer in opportunity identification processes

Successful identification and exploitation of opportunities has been an area of interest to many entrepreneurship researchers. Since Shane and Venkataraman’s seminal work (e.g. Shane and Venkataraman, 2000; Shane, 2000), several scholars have theorised on how firms identify, nurture and develop opportunities. The majority of this literature has been devoted to understanding how entrepreneurs search for new applications of their technological base or discover opportunities based on prior knowledge (Zahra, 2008; Sarasvathy et al., 2003). In particular, knowledge about potential customer needs and problems that may present opportunities is vital (Webb et al., 2010). Whereas the role of prior knowledge of customer problems (Shane, 2003; Shepherd and DeTienne, 2005) and positioning oneself in a so-called knowledge corridor (Fiet, 1996) has been researched, the role of opportunity characteristics and their interaction with customer-related mechanisms that facilitate and hinder opportunity identification has received scant attention.

Who is the corporate entrepreneur? Insights from opportunity discovery and Creation Theory

Recent research has begun to address and even compare nascent entrepreneurship and nascent corporate entrepreneurship. An opportunity based view holds great potential to integrate both streams of research, but also presents challenges in how we define corporate entrepreneurship. We extend (corporate) entrepreneurship literature to the opportunity identification phase by providing a framework to classify different types of corporate entrepreneurship. Through analysis of a large dataset on nascent (corporate) entrepreneurship (PSEDII) we show that these corporate entrepreneurs differ largely from each other in terms of human capital. Prior studies have indicated that independent and corporate entrepreneurs pursue different types of opportunities and utilize different strategies. Our findings from the opportunity identification phase challenge those differences and seem to indicate a difference between the opportunities corporate entrepreneurs identify versus the opportunities they exploit.

Innovation and the city : a macromarketing approach to industry development

Purpose – The purpose of this paper is to propose and demonstrate the relevance of marketing systems, notably the process of product management and innovation, to urban development challenges. Design/methodology/approach – A macromarketing perspective is adopted to construe the city as a product and begin the application of the innovation process to urban management, following the steps commonly proposed for successful innovation in product management. An example of the application of the initial new product development steps of idea generation and opportunity identification is presented. Findings – The innovation process provides guidelines and checkpoints that enable corporations to improve the success rate of their development initiatives. Cities, like corporations, need to innovate in order to maintain their image and functionality, to provide a myriad benefits to their stakeholders and, thereby, to survive and grow. The example here shows how the preliminary NPD steps of idea generation and opportunity identification enrich the process of identifying and analysing new industry opportunities for a city. Practical implications – By conceptualising the city as a multifaceted product, the disciplined planning and evaluation processes pertinent to NPD success become relevant and helpful to practitioners responsible for urban planning, urban development and change. Originality/value – The paper shows how pertinent concepts and processes from marketing can be effectively applied to urban planning and economic development initiatives.

Macroentrepreneurship : an expanded contact for entrepreneurship

The purpose if this paper is to show how entrepreneurial practices can be applied at macro level by industry and government bodies, particularly to identify opportunity areas in target industries and thereby promote new business ventures that best serve the economy and society. A new macro context is argued for entrepreneurial activity based on marketing and entrepreneurship principles, and their specialization areas or social and societal marketing, macromarketing and social entrepreneurship. An example of government and industry involvement in industry opportunity identification is outlines to demonstrate macro level entrepreneurial activity, showing how, in the same way that macromarketing seeks to address the bigger issues and the links between marketing systems and society, so too can entrepreneurship use this perspective to achieve its aims and contribute more effectively to the betterment of society. This paper makes and original contribution by demonstrating a new, expanded context for entrepreneurship's scholarly domain and its practice, showing how its key concepts can be effectively applied at industry level to provide a catalyst for development.

Spot the differences in traditional and social entrepreneurial intention : highlighting the role of human and social capital

There is general agreement in the scientific community that entrepreneurship plays a central role in the growth and development of an economy in rapidly changing environments (Acs & Virgill 2010). In particular, when business activities are regarded as a vehicle for sustainable growth at large, that goes beyond mere economic returns of singular entities, encompassing also social problems and heavily relying on collaborative actions, then we more precisely fall into the domain of ‘social entrepreneurship’(Robinson et al. 2009). In the entrepreneurship literature, prior studies demonstrated the role of intentionality as the best predictor of planned behavior (Ajzen 1991), and assumed that the intention to start a business derives from the perception of desirability and feasibility and from a propensity to act upon an opportunity (Fishbein & Ajzen 1975). Recognizing that starting a business is an intentional act (Krueger et al. 2000) and entrepreneurship is a planned behaviour (Katz & Gartner 1988), models of entrepreneurial intentions have substantial implications for intentionality research in entrepreneurship. The purpose of this paper is to explore the emerging practice of social entrepreneurship by comparing the determinants of entrepreneurial intention in general versus those leading to startups with a social mission. Social entrepreneurial intentions clearly merit to be investigated given that the opportunity identification process is an intentional process not only typical of for profit start-ups, and yet there is a lack of research examining opportunity recognition in social entrepreneurship (Haugh 2005). The key argument is that intentionality in both traditional and social entrepreneurs during the decision-making process of new venture creation is influenced by an individual's perceptions toward opportunities (Fishbein & Ajzen 1975). Besides opportunity recognition, at least two other aspects can substantially influence intentionality: human and social capital (Davidsson, 2003). This paper is set to establish if and to what extent the social intentions of potential entrepreneurs, at the cognitive level, are influenced by opportunities recognition, human capital, and social capital. By applying established theoretical constructs, the paper draws comparisons between ‘for-profit’ and ‘social’ intentionality using two samples of students enrolled in Economy and Business Administration at the University G. d’Annunzio in Pescara, Italy. A questionnaire was submitted to 310 potential entrepreneurs to test the robustness of the model. The collected data were used to measure the theoretical constructs of the paper. Reliability of the multi-item scale for each dimension was measured using Cronbach alpha, and for all the dimensions measures of reliability are above 0.70. We empirically tested the model using structural equation modeling with AMOS. The results allow us to empirically contribute to the argument regarding the influence of human and social cognitive capital on social and non-social entrepreneurial intentions. Moreover, we highlight the importance for further researchers to look deeper into the determinants of traditional and social entrepreneurial intention so that governments can one day define better polices and regulations that promote sustainable businesses with a social imprint, rather than inhibit their formation and growth.

Capturing opportunities for business and innovation in knowledge intensive services

Research on opportunity has been extensively studied in contexts of new firm or new venture creation (Choi & Shepherd, 2004; Mullins & Forlani, 2005; Ozgen & Baron, 2007) where start-ups and new ventures use both opportunity discovery and opportunity creation (Alvarez & Barney 2005, 2007). Less research is found on examining the relationship between opportunity and innovation in existing firms (with Drucker (1985) an exception). In large firms, opportunity recognition has been analysed in terms of antecedent conditions, elements and outcomes (Ireland, Covin & Kuratko, 2009), but to date less attention has been given to how small and medium enterprises capture and use opportunities to remain competitive. Little research has been carried out regarding how smaller firms use opportunities to create new business with existing customers or use technological advances with new customers to create new economic activity, growth and competitive advantage. This study presents findings from a comparative case analysis of 20 diverse firms in the spatial information industry and identifies constructs associated with identifying opportunities that lead to better business performance and firm level innovation.

New country market feasibility analyses

Opportunity screening is also known as feasibility testing, which is the process of assessing whether a particular business opportunity is within the capacity of either an entrepreneur or an intrapreneur, and also whether it can create sustainable revenues. As the funnel diagram shows, the number of opportunities diminishes as we move to the right through the diagram. This is because not every idea identified in the opportunity identification stage as potentially interesting, and then framed into a business opportunity in the opportunity development stage, will satisfy the formal and informal screening criteria. The informal screening process occurs in all stages of the development process. For example, not every idea that has been identified will be converted into a business opportunity; similarly, not every business opportunity progresses to a feasibility test. Subsequently, only the best business opportunities are screened, and only the very best of those screened then progress to the business plan step.

Career Adapt-Abilities Scale—Iran Form: Psychometric properties and relationships with career satisfaction and entrepreneurial intentions

This study examined the psychometric properties of a Persian translation of the Career Adapt-Abilities Scale (CAAS—Iran Form) and its relationships with career satisfaction, business opportunity identification, and entrepreneurial intentions. It was hypothesized that career adaptability relates positively to these three outcomes, even when controlling for demographic and employment characteristics. Data were provided by 204 workers from Iran. Results showed that the overall CAAS score and sub-dimension scores (concern, control, curiosity, and confidence) were highly reliable. Moreover, confirmatory factor analyses indicated that the CAAS—Iran Form measures four distinct dimensions that can be combined into a higher-order career adaptability factor. Findings also demonstrated criterion-related validity of the scale with regard to career satisfaction and entrepreneurial intentions. In contrast, overall career adaptability was not significantly related to opportunity identification, while concern related positively, and control related negatively to opportunity identification. Overall, the CAAS—Iran Form has very good psychometric properties and predicts important career outcomes, suggesting that it can be used for career counseling and future research with Persian-speaking workers.

How the environment affects opportunity recognition by entrepreneurs at the bottom of the pyramid

There is an army of bottom of the pyramid entrepreneurs (BOPE) who have the potential to transform developing economies, if they can identify and exploit business opportunities. BOPE could have unidentified resources that could lead to the recognition of radical new opportunities. This study paper asks how environmental factors and identification of resources affect Opportunity Recognition by BOP entrepreneurs in developing economies. To investigate this research question we conduct a literature review and plan semi-structured interviews of existing and nascent entrepreneurs in the largest and arguably the poorest country in Africa, the Democratic Republic of the Congo. In this paper we review the context of BOPE and describe the methodology we will use to gather and analyse data. Finally, we describe our access to suitable respondents for this study and how it will be conducted.

The window of opportunity: A relevant concept for axial spondyloarthritis

The window of opportunity is a concept critical to rheumatoid arthritis treatment. Early treatment changes the outcome of rheumatoid arthritis treatment, in that response rates are higher with earlier disease-modifying anti-rheumatic drug treatment and damage is substantially reduced. Axial spondyloarthritis is an inflammatory axial disease encompassing both nonradiographic axial spondyloarthritis and established ankylosing spondylitis. In axial spondyloarthritis, studies of magnetic resonance imaging as well as tumor necrosis factor inhibitor treatment and withdrawal studies all suggest that early effective suppression of inflammation has the potential to reduce radiographic damage. This potential would suggest that the concept of a window of opportunity is relevant not only to rheumatoid arthritis but also to axial spondyloarthritis. The challenge now remains to identify high-risk patients early and to commence treatment without delay. Developments in risk stratification include new classification criteria, identification of clinical risk factors, biomarkers, genetic associations, potential antibody associations and an ankylosing spondylitis-specific microbiome signature. Further research needs to focus on the evidence for early intervention and the early identification of high-risk individuals.

Texture for Script identification

The problem of determining the script and language of a document image has a number of important applications in the field of document analysis, such as indexing and sorting of large collections of such images, or as a precursor to optical character recognition (OCR). In this paper, we investigate the use of texture as a tool for determining the script of a document image, based on the observation that text has a distinct visual texture. An experimental evaluation of a number of commonly used texture features is conducted on a newly created script database, providing a qualitative measure of which features are most appropriate for this task. Strategies for improving classification results in situations with limited training data and multiple font types are also proposed.