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The production of entrepreneurial opportunity: a constructivist perspective


McKinley, William; Wood, M (2010). The production of entrepreneurial opportunity: a constructivist perspective. Strategic Entrepreneurship Journal, 4(1):66-84.

Abstract

This article presents a conceptual model of entrepreneurial opportunity production from a constructivist perspective. The model assumes that opportunity production proceeds through several stages, including conceptualization of an opportunity idea by an entrepreneur, objectification of that idea, and enactment of the opportunity into a new venture. However, not all opportunity ideas survive this full process. Between the conceptualization stage and the objectification stage, some ideas are abandoned due to inadequate objectification. Also, between the objectification stage and the enactment stage, some objectified opportunities are abandoned due to insufficient resource support. We identify variables that influence the likelihood that opportunity ideas will be objectified and other variables that influence the likelihood that objectified opportunities will be enacted, and these variables are incorporated into empirically testable propositions. In the discussion section, we describe several boundary conditions for our theory, contrast the theory with objectivist (discovery) theory, and derive implications for future research.

Abstract

This article presents a conceptual model of entrepreneurial opportunity production from a constructivist perspective. The model assumes that opportunity production proceeds through several stages, including conceptualization of an opportunity idea by an entrepreneur, objectification of that idea, and enactment of the opportunity into a new venture. However, not all opportunity ideas survive this full process. Between the conceptualization stage and the objectification stage, some ideas are abandoned due to inadequate objectification. Also, between the objectification stage and the enactment stage, some objectified opportunities are abandoned due to insufficient resource support. We identify variables that influence the likelihood that opportunity ideas will be objectified and other variables that influence the likelihood that objectified opportunities will be enacted, and these variables are incorporated into empirically testable propositions. In the discussion section, we describe several boundary conditions for our theory, contrast the theory with objectivist (discovery) theory, and derive implications for future research.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Business Administration
Dewey Decimal Classification:330 Economics
Language:English
Date:8 March 2010
Deposited On:05 Sep 2019 11:07
Last Modified:31 Jul 2020 03:35
Publisher:Wiley-Blackwell Publishing, Inc.
ISSN:1932-4391
OA Status:Closed
Free access at:Publisher DOI. An embargo period may apply.
Publisher DOI:https://doi.org/10.1002/sej.83
Other Identification Number:merlin-id:4365

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