In today's competitive environment firms can seldom rely on their current products and services to secure their future success (Miller, 1983; Zahra, 1993; Lumpkin & Dess, 1996). Neither can they ignore their position in the market vis-à-vis their current and potential competitors (Barney, 2002). To win in the competitive global market, firms also have to continuously improve their internal processes in order to ensure that operations are efficiently performed (Carpinetti & Martins, 2001; Tompkins, 2001). These challenges may seem overwhelming and even threatening, but by generating more opportunities firms can increase the possibility of obtaining successful outcomes. This is based on the assumption that the discovery of new opportunities helps leverage a firm's value creation and ensures that the firm remains vital (Stevenson, 1983).
Schibbye, T. and Verreynne, M. (2005), "Where and how do innovative firms find new business opportunities? An exploratory study of New Zealand firms", Vinig, G. and Van Der Voort, R. (Ed.) The Emergence of Entrepreneurial Economics (Research on Technological Innovation, Management and Policy, Vol. 9), Emerald Group Publishing Limited, Bingley, pp. 141-163. https://doi.org/10.1016/S0737-1071(05)09009-8Download as .RIS
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