International Opportunity Recognition: An Overview
Abstract
Since 2006, the role of international opportunity recognition became an emergent research stream in international entrepreneurship. Following the definition of international opportunity recognition, the initial international opportunity recognition is defined as follows: The way an entrepreneur discovers the opportunity to exchange products and services with a new or existing partner in a new international market for the first time. In this study, we perform an in-depth literature review on the international opportunity recognition concept, and we suggest future lines of research in this topic.
References
Alvarez, S. A., & Barney, J. B. (2007). Discovery and creation: Alternative theories of entrepreneurial action. Strategic Entrepreneurship Journal, 1(1-2), 11-26.
Ardichvili, A., & Cardozo, R. (2000). A model of the entrepreneurial opportunity recognition process. Journal of Enterprising Culture, 8(2), 103-119.
Ardichvili, A., Cardozo, R., & Ray, S. (2003). A theory of entrepreneurial opportunity identification and development. Journal of Business Venturing, 18(1), 105-123.
Baron, R. A. (2004). The cognitive perspective: A valuable tool for answering entrepreneurship's basic “why” questions. Journal of Business Venturing, 19(2), 221-239.
Baumol, W. J. (1993). Entrepreneurship, management, and the structure of payoffs. Cambridge, MA: MIT Press.
Brown, T., & Kraus, S. (2009). Entrepreneurial venturing as the process of opportunity, growth and value creation. International Journal of Entrepreneurial Venturing, 1(1), 1-4.
Busenitz, L. W., Plummer, L. A., Klotz, A. C., Shahzad, A., & Rhoads, K. (2014). Entrepreneurship research (1985–2009) and the emergence of opportunities. Entrepreneurship Theory and Practice, 38(5), 981-1000.
Casson, M. (1982). The entrepreneur. Totowa, NJ: Barnes and Noble Books.
Casulli, L. (2009). Exploring opportunity creation in internationalising SMEs: Evidence from Scottish firms. In M. V. Jones, P. Dimitratos, M. Fletcher, & S. Young (Eds.), Internationalisation, entrepreneurship and the smaller firm: Evidence from around the world (pp. 20-36). Cheltenham.
Chandra, Y., Styles, C., & Wilkinson, I. (2009). The recognition of first time international entrepreneurial opportunities: Evidence from firms in knowledge-based industries. International Marketing Review, 26(1), 30-61.
Chandra, Y., Styles, C., & Wilkinson, I. (2012). An opportunity-based view of rapid internationalization. Journal of International Marketing, 20(1), 74-102.
Ciravegna, L., Majano, S. B., & Zhan, G. (2014). The inception of internationalization of small and medium enterprises: The role of activeness and networks. Journal of Business Research, 67(6), 1081-1089.
Crick, D., & Spence, M. (2005). The internationalization of ‘high performing’ UK high-tech SMEs: A study of planned and unplanned strategies. International Business Review, 14(2), 167-185.
Davidsson, P. (2015). Entrepreneurial opportunities and the entrepreneurship nexus: A re-conceptualization. Journal of Business Venturing, 30(5), 674-695.
Delmar, F., & Davidsson, P. (2000). Where do they come from? Prevalence and characteristics of nascent entrepreneurs. Entrepreneurship and Regional Development, 12(1), 1-23.
Dimitratos, P., & Jones, M. V. (2005). Future directions for international entrepreneurship research. International Business Review, 14(2), 119-128.
Eckhardt, J. T., & Shane, S. A. (2003). Opportunities and entrepreneurship. Journal of Management, 29(3), 333-349.
Ellis, P. D. (2011). Social ties and international entrepreneurship: Opportunities and constraints affecting firm internationalization. Journal of International Business Studies, 42(1), 99-127.
Faroque, A. R. (2015). Strategic orientations and international opportunity recognition and development in emerging country born globals: The moderating role of environmental dynamism. International Journal of Entrepreneurship and Small Business, 24(2), 163-186.
Filion, L. J. (2011). Defining the entrepreneur. In L. P. Dana (Ed.), World Encyclopedia of Entrepreneurship (pp. 41-52). Cheltenham, UK: Edward Elgar Publishing Limited.
Gast, J., Filser, M., Gundolf, K., & Kraus, S. (2015). Coopetition research: Towards a better understanding of past trends and future directions. International Journal of Entrepreneurship and Small Business, 24(4), 492-521.
George, N. M., Parida, V., Lahti, T., & Wincent, J. (2014). A systematic literature review of entrepreneurial opportunity recognition: Insights on influencing factors. International Entrepreneurship and Management Journal, 12(2), 1-42.
Hall, P. (1995). Habitual owners of small businesses. In F. Chittenden, M. Robertson, & I. Marshall (Eds.), Small firms: Partnerships for growth (pp. 217-230). London: Paul Chapman Publishing.
Harms, R., Schulz, A., Kraus, S., & Fink, M. (2009). The conceptualization of ‘opportunity’ in strategic management research. International Journal of Entrepreneurial Venturing, 1(1), 57-71.
Hansen, D. J., Shrader, R., & Monllor, J. (2011). Defragmenting definitions of entrepreneurial opportunity. Journal of Small Business Management, 49(2), 283-304.
Hilmersson, M., & Papaioannou, S. (2015). SME international opportunity scouting—empirical insights on its determinants and outcomes. Journal of International Entrepreneurship, 13(3), 186-211.
Hurmerinta, L., Nummela, N., & Paavilainen-Mäntymäki, E. (2015). Opening and closing doors: The role of language in international opportunity recognition and exploitation. International Business Review, 24(6), 1082-1094.
Johanson, J., & Vahlne, J. E. (2006). Commitment and opportunity development in the internationalization process: A note on the Uppsala internationalization process model. Management International Review, 46(2), 165-178.
Jones, M. V., Coviello, N., & Tang, Y. K. (2011). International entrepreneurship research (1989– 2009): A domain ontology and thematic analysis. Journal of Business Venturing, 26(6), 632-659.
Karra, N., Phillips, N., & Tracey, P. (2008). Building the born global firm: Developing entrepreneurial capabilities for international new venture success. Long Range Planning, 41(4), 440-458.
Kirzner, I. M. (1973). Competition and entrepreneurship. Chicago, IL: University of Chicago Press.
Knight, F. H. (1921). Risk, uncertainty and profit. Chicago, IL: University of Chicago Press.
Kontinen, T., & Ojala, A. (2011a). International opportunity recognition among small and medium-sized family firms. Journal of Small Business Management, 49(3), 490-514.
Kontinen, T., & Ojala, A. (2011b). Network ties in the international opportunity recognition of family SMEs. International Business Review, 20(4), 440-453.
Kontinen, T., & Ojala, A. (2011c). Social capital in relation to the foreign market entry and post-entry operations of family SMEs. Journal of International Entrepreneurship, 9(2), 133-151.
Kraus, S. (2011). State-of-the-art of current research in international entrepreneurship: A citation analysis. African Journal of Business Management, 5(3), 1020-1038.
Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 21(1), 135-172.
MacMillan, I. C. (1986). Executive forum: To really learn about entrepreneurship, let’s study habitual entrepreneurs. Journal of Business Venturing, 1, 241-243.
Mainela, T., Puhakka, V., & Servais, P. (2014). The concept of international opportunity in international entrepreneurship: A review and a research agenda. International Journal of Management Reviews, 16(1), 105-129.
McDougall, P. P. (1989). International versus domestic entrepreneurship: New venture strategic behavior and industry structure. Journal of Business Venturing, 4(6), 387-400.
Morrish, S. (2009). Portfolio entrepreneurs: An effectuation approach to multiple venture development. Journal of Research in Marketing and Entrepreneurship, 11(1), 32-48.
Mort, G. S., & Weerawardena, J. (2006). Networking capability and international entrepreneurship. International Marketing Review, 23(5), 549-572.
Muzychenko, O., & Liesch, P. W. (2015). International opportunity identification in the internationalisation of the firm. Journal of World Business, 50(4), 704-717.
Nordman, E. R., & Melén, S. (2008). The impact of different kinds of knowledge for the internationalization process of born globals in the biotech business. Journal of World Business, 43(2), 171-185.
Oviatt, B. M., & McDougall, P. P. (2005). Defining international entrepreneurship and modeling the speed of internationalization. Entrepreneurship Theory and Practice, 29(5), 537-554.
Oyson, M. J., & Whittaker, H. (2010). An opportunity-based approach to international entrepreneurship: Pursuing opportunities internationally through prospection. Paper presented at the 18th Annual High Technology Small Firms Conference, University of Twente, Enschede, The Netherlands.
Oyson, M. J., & Whittaker, H. (2015). Entrepreneurial cognition and behavior in the discovery and creation of international opportunities. Journal of International Entrepreneurship, 13(3), 303-336.
Peiris, I. K., Akoorie, M., & Sinha, P. (2012). International entrepreneurship: A critical analysis of studies in the past two decades and future directions for research. Journal of International Entrepreneurship, 10(4), 279-324.
Peiris, I. K., Akoorie, M., & Sinha, P. (2015). Conceptualizing the process of opportunity identification in international entrepreneurship research. In J. M. Manimala & P. K. Wasdani (Eds.), Entrepreneurial ecosystem: Perspectives from emerging economies (pp. 193-218). New Delhi: Springer India.
Piantoni, M., Baronchelli, G., & Cortesi, E. (2012). The recognition of international opportunities among Italian SMEs: Differences between European and Chinese markets. International Journal of Entrepreneurship and Small Business, 17(2), 199-219.
Santos-Álvarez, V., & García-Merino, T. (2010). The role of the entrepreneur in identifying international expansion as a strategic opportunity. International Journal of Information Management, 30(6), 512-520.
Schumpeter, J. A. (1934). The theory of economic development. Cambridge: Harvard University Press.
Shane, S. (2000). Prior knowledge and the discovery of entrepreneurial opportunities. Organization Science, 11(4), 448-469.
Shane, S. (2003). A general theory of entrepreneurship: The individual-opportunity nexus. Cheltenham, UK: Edward Elgar.
Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Short, J. C., Ketchen, D. J., Jr., Shook, C. L., & Ireland, R. D. (2010). The concept of "opportunity" in entrepreneurship research: Past accomplishments and future challenges. Journal of Management, 36(1), 40-65.
Spence, M., & Crick, D. (2006). A comparative investigation into the internationalisation of Canadian and UK high-tech SMEs. International Marketing Review, 23(5), 524-548.
Styles, C., & Genua, T. (2008). The rapid internationalization of high technology firms created through the commercialization of academic research. Journal of World Business, 43(2), 146-157.
Styles, C., & Seymour, R. (2006). Opportunities for marketing researchers in international entrepreneurship. International Marketing Review, 23(2), 126-145.
Ucbasaran, D., Westhead, P., & Wright, M. (2001). The focus of entrepreneurial research: Contextual and process issues. Entrepreneurship Theory and Practice, 25(4), 57-80.
Vasilchenko, E., & Morrish, S. (2011). The role of entrepreneurial networks in the exploration and exploitation of internationalization opportunities by information and communication technology firms. Journal of International Marketing, 19(4), 88-105.
Venkataraman, S. (1997). The distinctive domain of entrepreneurship research. Advances in Entrepreneurship, Firm Emergence and Growth, 3(1), 119-138.
Westhead, P., & Wright, M. (1998). Novice, portfolio, and serial founders: Are they different? Journal of Business Venturing, 13(3), 173-204.
Zaefarian, R., Eng, T.-Y., & Tasavori, M. (2015). An exploratory study of international opportunity identification among family firms. International Business Review, 25(1), 1-13.
Zahra, S. A., Korri, J. S., & Yu, J. (2005). Cognition and international entrepreneurship: Implications for research on international opportunity recognition and exploitation. International Business Review, 14(2), 129-146.