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Article
Publication date: 16 November 2018

Jia Liu, Frida Thomas Pacho and Wang Xuhui

The purpose of this paper is to empirically explore the impact of culture (using individualism, power distance and uncertainty avoidance) on entrepreneurial risk taking…

Abstract

Purpose

The purpose of this paper is to empirically explore the impact of culture (using individualism, power distance and uncertainty avoidance) on entrepreneurial risk taking behavior which leads to the opportunity exploitation decision. Moreover, it also uses risk taking behavior of entrepreneurial as the mediation variable between culture and opportunity exploitations decisions.

Design/methodology/approach

The study took place in Tanzania, which is allocated in East Africa and is one of under researched countries. In total, 140 entrepreneurs who own venture of 5-99 employees were able to be interviewed using a survey questionnaire. In this study, structural equation modeling (SEM) was used to examine the direct and indirect relationship of culture in entrepreneurial opportunity exploitation decisions.

Findings

After hypothesis testing, the empirical results showed that Tanzania’s culture has an impact on entrepreneurial risk taking behavior, which influences entrepreneurial opportunity exploitation decision. It also showed culture through individualism and uncertainty avoidance measurements affect entrepreneurial opportunity exploitation decisions. The empirical results on power distance were insignificant.

Research limitations/implications

This study is a wake-up call to policy makers and formal institutions such as government authorities, education institutions and religion institutions. Thus, culture has an ability to influence the behavior of entrepreneurs and so the performance of ventures if it is consistent and well structured. Therefore it should be not taken for granted. Data for our study are based on only two cities and therefore the results should not be generalized as the whole country’s inference. Generalizability is questioned because the data are from only two cities in Tanzania and therefore future research should include more cities to be able to validate the generalizability.

Practical implications

This study is a wake-up call to policymakers and formal institutions such as government authorities, education institutions and religion institutions. Thus culture has an ability to influence the behavior of entrepreneurs and so the performance of ventures if it is consistent and well structured. Therefore it should be not taken for granted. Data for our study are based on only two cities and therefore the results should not be generalized as the whole country’s inference.

Social implications

In the country which has well-structured culture, influence the behavior of entrepreneurs to exploit opportunities.

Originality/value

This is the first empirical study to use SEM for exploring the culture of individualism, power distance and uncertainty avoidance impact on entrepreneurial opportunity exploitation in Tanzania.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 11 no. 1
Type: Research Article
ISSN: 2053-4604

Keywords

Open Access
Article
Publication date: 9 January 2017

Andreas Kuckertz, Tobias Kollmann, Patrick Krell and Christoph Stöckmann

Opportunity recognition and opportunity exploitation are two central concepts in the entrepreneurial process. However, there is a lack of both a clear specification of the…

25597

Abstract

Purpose

Opportunity recognition and opportunity exploitation are two central concepts in the entrepreneurial process. However, there is a lack of both a clear specification of the content domains of the constructs and valid and reliable multi-item scales for their measurement. The paper aims to discuss these issues.

Design/methodology/approach

This paper first reveals existing issues around the definitions and measures relating to the concepts, then defines their content domains, and also proposes scale items to measure the concepts. Four samples are used to develop the measurement instruments.

Findings

Two scales are suggested, one to measure opportunity recognition, and other to measure opportunity exploitation. The scales demonstrate reliability and construct, discriminant, and nomological validity.

Originality/value

The resulting instruments provide tools for research and practice that could prove valuable when examining the antecedents and consequences of both opportunity recognition and opportunity exploitation.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 23 no. 1
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 9 December 2021

Kerim Karmeni, Lorraine Uhlaner and Lorenzo Lucianetti

As the transition between exploration and exploitation is a unique challenge for SMEs, what mechanism(s) might facilitate this transition? Building on the entrepreneurship…

Abstract

Purpose

As the transition between exploration and exploitation is a unique challenge for SMEs, what mechanism(s) might facilitate this transition? Building on the entrepreneurship literature's entrepreneurial opportunity identification and development framework, this study hypothesizes that the novelty-centered business model (NCBM) may serve as such a mechanism.

Design/methodology/approach

Based on cross-sectional survey data collected from 169 Italian SMEs in various sectors, this study tests the mediation, moderation and moderated mediation relationships using the statistical PROCESS procedure.

Findings

Supporting the hypotheses that exploration and exploitation are positively associated within SMEs, that NCBM mediates this relationship and that the indirect relationship between exploration and exploitation by way of NCBM is stronger for SMEs with employees of medium to high creative human capital, the results suggest that SMEs can more effectively exploit new ideas identified in the exploration phase by developing an NCBM and accessing their creative human capital.

Research limitations/implications

Although the robustness checks confirm the direction of the proposed hypotheses, given the cross-sectional nature of the dataset used, a longitudinal study would further validate the proposed framework.

Practical implications

SMEs can successfully achieve the transition between exploration and exploitation by reinventing their business model to compensate for their limited resources in terms of financial or relational capital. They can further enhance their ability to reinvent their business model and, in turn, to exploit innovations by hiring and retaining employees with greater creative human capital.

Originality/value

This study draws on the entrepreneurial opportunity, ambidexterity (exploration-exploitation) and business model literature to enhance our understanding of the role of the NCBM design concept (business model innovation) as a mechanism to achieve temporal ambidexterity in SMEs.

Details

Journal of Small Business and Enterprise Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1462-6004

Keywords

Article
Publication date: 22 October 2018

Arielle John and Virgil Henry Storr

This paper aims to highlight the possibility that the same cultural and/or institutional environment can differentially affect each of the two moments of entrepreneurship…

Abstract

Purpose

This paper aims to highlight the possibility that the same cultural and/or institutional environment can differentially affect each of the two moments of entrepreneurship – opportunity identification and opportunity exploitation. It is possible that the cultural and institutional environment in a particular place may encourage opportunity identification, but discourage opportunity exploitation, or vice versa. Specifically, this paper argues that understanding entrepreneurship in Trinidad and Tobago requires that we focus on how Trinidadian culture and institutions differentially affect both moments of entrepreneurship.

Design/methodology/approach

To examine how Trinidad and Tobago’s culture and institutions affect entrepreneurial opportunity identification and exploitation in that country, the paper uses a qualitative approach. In total, 25 subjects agreed to interviews, conducted in July and August 2009 in Trinidad. The questions were geared at understanding attitudes toward work and entrepreneurship in Trinidad, and how politics, culture and ethnicity interacted with those attitudes. The paper also examined institutional indicators from the Economic Freedom of the World: 2013 Annual Report and the World Bank’s 2016 Doing Business Report.

Findings

The research identified features of the cultural and institutional environment in Trinidad and Tobago that help to explain why opportunity identification is relatively common among all ethnic groups there, but why opportunity exploitation appears relatively suppressed among African–Trinidadians. In particular, the research finds that the inheritance of British institutions, a post-colonial political culture, a post-colonial business culture and ethnically based social networks all have positive and negative influences on each moment of entrepreneurship.

Research limitations/implications

Further research would involve an analysis of a wider set of both formal and informal entrepreneurial activities in Trinidad and Tobago, across industries and periods.

Practical implications

This paper has implications for understanding the complex nature of entrepreneurship, which many policymakers try to encourage, but which is shaped by deep cultural and historical factors, and also indirectly influenced by state policies and laws.

Social implications

Ethnic patterns in entrepreneurship shape the way groups see themselves and others.

Originality/value

While authors writing about opportunity recognition/identification and opportunity exploitation have captured the important dimensions of entrepreneurship, they underestimate the possibility of a disconnect between entrepreneurial identification and exploitation. Focusing on instances where the disconnect exists allows us to move away from characterizations of cultures as progress-prone or progress-resistant, and instead allows us to focus on these gaps between identifying and exploiting entrepreneurship across cultures.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 12 no. 5
Type: Research Article
ISSN: 1750-6204

Keywords

Article
Publication date: 1 July 2000

Robert G. Schwartz and Richard D. Teach

To most, opportunity recognition and exploitation are the key activities of entrepreneurship. In their 1989 paper on the subject the authors identified a factor structure…

1097

Abstract

To most, opportunity recognition and exploitation are the key activities of entrepreneurship. In their 1989 paper on the subject the authors identified a factor structure useful in explaining the process. The present work compares the 1998 results with the 1989 results. Evidence is provided that there is a stable temporal model of opportunity recognition and exploitation.

Details

Journal of Research in Marketing and Entrepreneurship, vol. 2 no. 2
Type: Research Article
ISSN: 1471-5201

Keywords

Article
Publication date: 12 March 2021

Thomas K. Maran, Anna K. Bachmann, Christine Mohr, Theo Ravet-Brown, Lukas Vogelauer and Marco Furtner

Motivation can serve as the engine that turns intention into action, and, as such, is indispensable in the early phase of the entrepreneurial process, where opportunity

Abstract

Purpose

Motivation can serve as the engine that turns intention into action, and, as such, is indispensable in the early phase of the entrepreneurial process, where opportunity recognition and exploitation are key. However, research in this area has so far shed a selective spotlight on specific facets of entrepreneurial motivation, whereas the consideration of basic motives has been widely neglected. Hence, the purpose of this paper is to illuminate the basic motivational foundations of one core aspect of entrepreneurial behavior, namely opportunity recognition.

Design/methodology/approach

The study examined how motivation influences the process of recognizing and exploiting entrepreneurial opportunities in a sample of 312 managing directors and managing partners of small and medium-sized enterprises. Opportunity recognition and exploitation were assessed by two different measures: one evaluating the objective number of recognized and realized business opportunities, the other assessing the perceived proficiency in identifying and exploiting entrepreneurial opportunities. Implicit and explicit facets of basic motivation were measured using a comprehensive assessment of human needs.

Findings

Findings show that entrepreneurs' achievement motive is an important driver in both the identification and exploitation of opportunity. The power motive affects the perceived ability to exploit business opportunities. Interestingly, the explicit affiliation motive showed an inhibitory effect on the perceived ability of opportunity identification, whereas implicit affiliation motive is affecting the number of recognized and realized business opportunities positively.

Originality/value

This research clearly highlights the preeminence of basic motivational factors in explaining individual early-stage entrepreneurial behavior, making them a prime target for training interventions.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 27 no. 4
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 7 August 2018

Song Lin and Steven Si

The purpose of this paper is to investigate exploration and exploitation as antecedents to speed of internationalization in born global firms.

1149

Abstract

Purpose

The purpose of this paper is to investigate exploration and exploitation as antecedents to speed of internationalization in born global firms.

Design/methodology/approach

By using 150 born global firms in China, the authors demonstrate that the influence of exploration and exploitation on born globals’ speed of internationalization. The statistical method in this study is hierarchical regression model.

Findings

The results revealed that exploration has a negative effect on the internationalization of born global firms, whereas exploration does not. The interaction between exploration and exploitation has positive influence on born globals’ speed of internationalization.

Practical implications

The study helps entrepreneurs and managers to better understand how to achieve international entrepreneurship success and internationalization success.

Originality/value

This study makes a theoretical development of internationalization speed, a core aspect of international entrepreneurship theory. First, this study contributes to theories on born globals’ speed of internationalization, which the authors redefined in the current study by using two approaches to measure the speed of internationalization of born global firms. Second, the study used exploration and exploitation as the two designated factors that are supposed to affect the speed of internationalization of born globals which contributes to the theoretical literature of international opportunity.

Details

Management Decision, vol. 57 no. 1
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 9 April 2018

Dario Miocevic and Robert E. Morgan

The academic inquiry of operational capabilities (OCs) has claimed focal interest in mainstream strategy research. Recent theoretical advances suggest these capabilities…

2029

Abstract

Purpose

The academic inquiry of operational capabilities (OCs) has claimed focal interest in mainstream strategy research. Recent theoretical advances suggest these capabilities are a fundamental trigger to the identification and exploitation of entrepreneurial opportunities. However, the extant literature has been, at best, partial with regard to empirical insights that integrate OCs with entrepreneurial opportunities. Addressing this theoretical lacuna from the standpoint of organisational learning theory, the purpose of this paper is to investigate the interplay between OCs and entrepreneurial opportunities and their overall impact on exporting SME’s growth.

Design/methodology/approach

To realise the empirical aims a descriptive research design employing a survey methodology was used. The authors are generated data from a sample of 117 exporting small and medium-sized enterprises (SME) in Croatia. Ordinary least squares regression was employed to test the conceptual model and five derived hypotheses.

Findings

The findings demonstrate that market-sensing capabilities are vital in enhancing exporting SME’s opportunity recognition capacity and the rate of international opportunity exploitation that leads to increased firm growth. Also, study findings show that the link between the increased rate of international opportunity exploitation contributes more to the growth when exporting SMEs have highly developed adaptive and innovation capabilities.

Research limitations/implications

This study brings to surface some novel insights about how exporting SMEs can better design their export marketing strategy. The results suggest, OCs occupy key role in the exporting SMEs international venturing efforts by delivering higher growth.

Originality/value

The study contributes to the export marketing strategy field by offering empirical evidence that both capability and opportunity-based views should be assessed simultaneously in explaining exporting SME’s competitiveness. Finally, we offer valuable theoretical and practical implications as well as avenues for further research that should extend our knowledge in the field.

Book part
Publication date: 12 September 2003

Per Davidsson

There is progress in entrepreneurship research. Important works in entrepreneurship increasingly appear in highly respected, mainstream journals (see Busenitz et al., 2003

Abstract

There is progress in entrepreneurship research. Important works in entrepreneurship increasingly appear in highly respected, mainstream journals (see Busenitz et al., 2003; Davidsson, Low & Wright, 2001). There is conceptual development that attracts attention (e.g. Shane & Venkataraman, 2000) and handbooks are compiled, providing the field with more of a common body of knowledge (Acs & Audretsch, 2003a; Shane, 2000a; Westhead & Wright, 2000). Further, there is evidence of methodological improvements (Chandler & Lyon, 2001) and accumulation of meaningful findings on various levels of analysis (Davidsson & Wiklund, 2001). Moreover, due to time lags in publication the reported improvements are likely to be underestimated. This author’s experience as organizer, reviewer and participant in core entrepreneurship conferences on both sides of the Atlantic (e.g. Babson; RENT) suggests that much of the lower end of the quality distribution has either disappeared from the submissions or is screened out in the review process. Much more than used to be the case a few years back we find among the presented papers research that is truly theory-driven; research on the earliest stages of business development, and research that employs methods suitable for causal inference, i.e. experiments and longitudinal designs.

Details

Cognitive Approaches to Entrepreneurship Research
Type: Book
ISBN: 978-1-84950-236-8

Article
Publication date: 5 March 2018

Pernille Eskerod, Karyne Ang and Erling S. Andersen

Exploitation of project opportunities may bring more benefits than stipulated in the initial business case, and even stakeholder benefits that nobody thought of at the…

1021

Abstract

Purpose

Exploitation of project opportunities may bring more benefits than stipulated in the initial business case, and even stakeholder benefits that nobody thought of at the project initiation. The purpose of this paper is to suggest a new research area for megaprojects, i.e. the phenomenon of project opportunity exploitation as a means to increase the project benefits.

Design/methodology/approach

This is a single case study of an infrastructure megaproject, i.e. the construction and operation of a 50+ years old American bridge. Data cover information regarding 60+ years old historical documents, newspaper articles, interviews and video-recordings.

Findings

The findings of this paper are as follows: exploiting all opportunities created by the project and increasing project benefits require involvement from many categories of stakeholders; stakeholders get more involved in exploiting the opportunities created by the project when they are proud of the project; for some of the project-related opportunities, it might take a long time before they can be exploited (and related benefits achieved); and celebrating achievements of the project stimulate stakeholders to exploit opportunities created by the project and contribute to further project benefits.

Research limitations/implications

Only few interviews were conducted. Interviewees were biased as all were very proud of the bridge. This is a single case study of a “rare species”, not representing most megaprojects.

Practical implications

To enhance project opportunity exploitation and increased benefits, the project owner (team) must continuously communicate about the project, also after project execution.

Originality/value

This study contributes to a gap within the literature on the phenomenon “project opportunity exploitation”. This is a very rich case study and of a “rare species”.

Details

International Journal of Managing Projects in Business, vol. 11 no. 1
Type: Research Article
ISSN: 1753-8378

Keywords

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