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Prototype models of opportunity recognition and the decision to launch a new venture: Identifying the basic dimensions
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Orientador(es)
Resumo(s)
Purpose – The purpose of this paper is to obtain evidence concerning the basic dimensions
included in cognitive prototypes pertaining to opportunity recognition and decision to
launch a new venture; identifying the underlying dimensions of both prototypes – the
cognitive frameworks current or nascent entrepreneurs employ in performing these important
tasks.
Design/methodology/approach – The bi-dimensional models were tested in a sample of 284
founder entrepreneurs, using a 48-item questionnaire. It was used as structural equation confirmatory
factor analysis to compare fit indices of uni-dimensional second-order and third-order bi-dimensional
models of business opportunity and decision to launch a venture.
Findings – Results support the bi-dimensional models and offer support that both prototypes
include two basic dimensions. For the business opportunity prototype these are viability and
distinctiveness while for the decision to launch a new venture, the basic dimensions are feasibility
and motivational aspects.
Research limitations/implications – These results help to further clarify the nature of the cognitive
frameworks individuals use to identify potential opportunities and reach an initial decision about
whether to pursue their development. Uncovering the cognitive functioning of opportunity recognition
and decision to exploit it, allow individuals to recognize opportunities easier and successfully; and to
make more accurate and effective decisions.
Practical implications – Knowing the basic dimensions of opportunity and decision-making
prototypes contributes to develop effective skills with respect to business opportunity recognition
among students enrolled in entrepreneurship programs. These surveys can be used for self-assessment
and also for investors, tutors, and entrepreneurship agents in order to help evaluate features of
business opportunities and decision to launch a venture. Originality/value – This study embraces a conceptual contribution, proposing a different model of
the business opportunity and decision to exploit prototypes, and it extends Baron and Ensley (2006)
previous work, to another important step in the entrepreneurial process – the decision to develop an
identified opportunity through the launch of a new venture.
Descrição
Palavras-chave
Business opportunities Cognitive processes Decision to launch a venture Prototypes feature organization
Contexto Educativo
Citação
Santos, S. C., Caetano, A., Baron, R., & Curral, L. (2015). Prototype models of opportunity recognition and the decision to launch a new venture: Identifying the basic dimensions. International Journal of Entrepreneurial Behavior & Research, 21(4), 510-538. https://doi.org/10.1108/IJEBR-04-2014-0058
Editora
Emerald