Opportunity Recognition: Perceptions of Highly Successful Entrpreneurs
This study examined multiple dimensions of opportunity recognition (OR) among a group of exceptionally successful entrepreneurs and a control group of more randomly selected entrepreneurs. There were few differences between the two groups. Results indicated that OR stemmed from prior experience, focusing on markets and customers, and responses to specific problems along with several other sources. Furthermore, OR appeared to he a multiple-step process far more frequently than a "eureka" experience. These results support much of the conventional wisdom about OR and indicate that multiple approaches to OR can lead to success.
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