DOI: 10.5176/2251-2039_IE1220
Authors: Hernan E. Riquelme and Mahmoud Fatrouni
Abstract: The aim of this research study is to test an integrative model of entrepreneurial opportunity recognition based on theories of cognition, social capital, environmental development and personality.240 entrepreneurs in the services industry participated in this survey. Multiple regression analysis was used to test the model and find the factors that predict entrepreneurial opportunity recognition. Overall, eight hypotheses were tested and six were supported. Schema was found the strongest significant variable amongst all.The study results indicate that entrepreneurs that discover opportunities organize prior knowledge and information related to their field in a manner that is easily accessible, have confidence in themselves, use social networks (both weak and strong ties) and see opportunities in changes in the economic environment.The study implies that potential entrepreneurs should be supported in terms of their social networks and instructed in the trends about the information and changes in the environment needed to spot opportunities. Governments play a role in providing a munificent economic environment.
Keywords: component; business opportunity, opportunity recognition, entrepreneurial opportunity
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