THE IMPACT OF ENTREPRENEURIAL EXPERIENCE ON OPPORTUNITY IDENTIFICATION AND EXPLOITATION: HABITUAL AND NOVICE ENTREPRENEURS

Abstract

Evidence suggests habitual entrepreneurs (i.e. those with prior business ownership experience) are a widespread phenomenon. Appreciation of the existence of multiple entrepreneurial acts gives rise to the need to examine differences between habitual and novice entrepreneurs (i.e. those with no prior business experience as a founder, inheritor or purchaser of a business). This paper synthesizes human capital and cognitive perspectives to highlight behavioral differences between habitual and novice entrepreneurs. Issues relating to opportunity identification and information search, opportunity exploitation and learning are discussed. Avenues for future research are highlighted.

Citation

Ucbasaran, D., Wright, M., Westhead, P. and Busenitz, L.W. (2003), "THE IMPACT OF ENTREPRENEURIAL EXPERIENCE ON OPPORTUNITY IDENTIFICATION AND EXPLOITATION: HABITUAL AND NOVICE ENTREPRENEURS", Katz, J.A. and Shepherd, D.A. (Ed.) Cognitive Approaches to Entrepreneurship Research (Advances in Entrepreneurship, Firm Emergence and Growth, Vol. 6), Emerald Group Publishing Limited, Leeds, pp. 231-263. https://doi.org/10.1016/S1074-7540(03)06008-2