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This article examines the use of a model of search by entrepreneurs; for decades they have been advised to remain alert but now, new approaches are more open to effectuation and creation. However, so far none provides guidance regarding how to improve search effectiveness. We report upon a phenomenological investigation of Fiet's model of constrain...
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Context 1
... average age of the participants was 45.4 years and the mean years of entre- preneurial experience were 17.8. Table 1 contains the participants' demographic attributes. ...
Context 2
... when it consists of specific information found in private markets for information. Alternatively, general information, which is easily codifiable, could be widely distributed to potential competi- tors who could compete away any above-average economic returns (see Table 1). For these rea- sons, the model in Figure 1 partitions prior experience into specific knowledge and general knowledge. ...
Citations
... To measure the effect of the information source on performance expectations, we distinguished between descriptive information, startup experience, and industry experience. Unlike other streams of research examining the depth and breadth of information search (Fiet, Norton & Clouse, 2013;Patel & Fiet, 2009;Patel & Van der Have, 2010), here we were interested in distinguishing between information sources. Therefore, we captured information sources through dummy variables. ...
... Further research could go beyond the identification of the information source and explore the breadth and depth of information searches (Fiet et al., 2013;Patel & Fiet, 2009;Patel & Van der Have, 2010;Westhead et al., 2009) and their relationship to expectations. Would certain amounts of descriptive information equate to a specific amount of experience? ...
... Would certain amounts of descriptive information equate to a specific amount of experience? This question would require adopting theoretical frameworks different from the one proposed in this paper: the difference in the amount of information gathered may relate to motivation, effort, confirmation biases, or frameworks related to the depth-breath tradeoffs in the entrepreneurship literature (Fiet et al., 2013;Patel & Fiet, 2009). It is likely that extensive experience (or searches for descriptive information) would produce different expectations than little experience. ...
How does the information source—experiential or descriptive—used by nascent entrepreneurs affect their performance expectations? Since judgments based on experience diverge from those based on descriptions, especially when prospects include a low-probability event such as entrepreneurial success, we argue that entrepreneurs’ expectations of success differ as a function of the information source they consult. We also contend that industry conditions interact with the information source to determine expectations. In two studies using field data from entrepreneurial settings, we found that experience generated lower expectations than did descriptions in unfavorable industry conditions (when success was a low-probability event). This pattern was reversed in favorable conditions (when success was more likely). Our findings provide field evidence consistent with the description–experience gap literature, thereby shedding new light on how nascent entrepreneurs’ informational environment shapes how they appraise business opportunities.
... There were three participant clusters, including novice entrepreneurs, serial entrepreneurs, and portfolio entrepreneurs (see ). As illustrated in Table 1, the purpose of this grouping was to compare whether the antecedent of entrepreneurial opportunity differed among these entrepreneurs since experienced entrepreneurs limit their search to preferred information channels, and typically recognise opportunities more than inexperienced entrepreneurs (Fiet et al., 2013). ...
... Other writers Fiet et al., 2013) suggest that prior independent enterprise formation and ownership experiences give serial and portfolio entrepreneurs an advantage over novice entrepreneurs in terms of opportunity recognition. This study on the other hand revealed no explicit distinction between participants relating to the source of opportunity identification, even though the motives for setting up a tourism venture did in fact differ among the entrepreneurs, with the serial and portfolio entrepreneurs perceiving tourism enterprise more for achieving social desires than for profit. ...
Although opportunity recognition is an important element of entrepreneurship, the research on patterns and factors influencing entrepreneurial opportunity recognition within the tourism sector remains scarce. Using a qualitative approach and narrative face-to-face interviews with tourism entrepreneurs in Cameroon, this study explores the factors that inspire the creation of tourism-related ventures. Due to the country's high level of entrepreneurship, Cameroon was an ideal context for exploring opportunity recognition patterns. Also, Cameroon's specific cultural aspects often cause its collectivist specificities to affect entrepreneurial intention even more than economic variables. The interviews in this study were captured and analysed using an inductive approach. Their results show that ethnic values, prior knowledge and experiences, experimental observations, socialisation and interaction, and social lifestyle are drivers of tourism entrepreneurial opportunity recognition. Other motivations including entrepreneurial intention and cultural and social transitions significantly contribute to tourism entrepreneurship. The paper proposes a framework aimed at enhancing a holistic understanding of opportunity recognition. It also generates new insights relevant for creating and operating ventures with high growth potential. The study furthermore provides implications for policy building and the development of a strategic framework for entrepreneurship development.
... Fifth, the next key condition for retaining an article depended on whether it was empirical and ensured the theoretical relevance of the EA construct. A deep exploratory study of the 135 remaining articles was carried out, and this action facilitated the exclusion of 31 theoretical or literature review articles (e.g., Sharma, 2019;George et al., 2016;Ardichvili et al., 2003;Gaglio & Katz, 2001;Sambamurthy, Bharadwaj & Grover, 2003; as well as 10 qualitative or case studies articles (e.g., Liu & Liang, 2021;Fiet, Norton, & Clouse, 2013). This screening produced 94 publications potentially relevant to the scope of this study. ...
Business consulting, knowledge absorptive capacity, and innovativeness: A triangular model for micro and small enterprises in Poland
Abstract
PURPOSE: This paper proposes a triangular relationship between business consulting, knowledge absorptive capacity, and innovativeness. The role of knowledge absorptive capacity in stimulating the impact of business consulting on innovativeness is studied. METHODOLOGY: An empirical study is conducted using the CATI method, and it is based on data concerning 382 Polish micro and small enterprises. Qualitative variables reflecting using business consulting, knowledge absorptive capacity and innovativeness are defined. The multivariate discrete choice model taking into account relationships among these constructs, is proposed and its parameters are estimated. FINDINGS: The results of the empirical research indicate that business consulting in Poland and similar countries may help firms implement innovative solutions. Knowledge absorptive capacity stimulates innovativeness and has a positive impact on the relationship between using business consulting and improvement in innovativeness. Though the frequency of using business consulting is an important factor in improving innovativeness, cooperation between a consultant and a manager matters more. IMPLICATIONS: Results of the empirical research indicate that cooperation between a consultant and a manager may help reduce differences of opinion and internal conflicts. A higher propensity to cooperate may significantly improve the functioning of an enterprise. Business consulting has an indirect and direct effect on innovativeness. It has a positive impact on knowledge absorptive capacity, while better knowledge stimulates innovativeness. ORIGINALITY AND VALUE: An original triangular model of the relationship between business consulting, knowledge absorptive capacity, and innovativeness is proposed. Advanced econometric methods are used in order to find complex relationships between using business consulting, knowledge absorptive capacity, and improvement in innovativeness. Moreover, results of the estimation of the parameters of the econometric model provide interesting recommendations for policies supporting the development of business consulting in the Polish economy.
Keywords: business consulting, knowledge absorptive capacity, innovativeness, multivariate discrete choice model, development support policy, econometric model, economy
Sustainable development and entrepreneurship in emerging countries: Are sustainable development and entrepreneurship reciprocally reinforcing?
Abstract
PURPOSE: Entrepreneurship seen as an engine for economic development is especially desirable for emerging countries to support rapid growth. Moreover, entrepreneurs can support social transformation in favor of more sustainable products and services. Sustainable orientation of entrepreneurship contributes to sustainable development goals and prevents environmental deprivation. However, the sustainable development agenda can also influence entrepreneurship. METHODOLOGY: The conducted bibliometric analysis confirmed the growing interest among scholars in the correlation of entrepreneurship to sustainability in the last years. Furthermore, panel regression (static model) was used to explore the variables on entrepreneurship influencing the sustainable development goal (SDG) index in emerging countries, and Levin, Lin and Chu (LLC), W-Stat – IPS, ADF-Fisher Chi-Square, and PP-Fisher Chi-Square tests were applied to analyze the variables stationarity. In order to examine the existence of structural breaks, the robustness was checked on single cross-section units and on the whole panel dataset. In addition, the Hausmann test was used to select between random and fixed effects, and heteroskedasticity of residues, autocorrelation of residues and dependence of residues between the panels were conducted. Data was analyzed through Eviews 13. FINDINGS: This paper investigates the relationship between sustainability and entrepreneurship in emerging countries. It discusses the impact of sustainable development on entrepreneurship and the influence of entrepreneurship on sustainable development. IMPLICATIONS: The study results can be used by governments and policymakers to plan their strategies and policies concerning entrepreneurship and implementation of sustainable development goals. They should promote entrepreneurial activity and control the negative environmental impact of enterprises simultaneously. ORIGINALITY AND VALUE: The research addresses the gap in the literature concerning the relationship between sustainable development and sustainable entrepreneurship. The paper examines the reciprocal relationship between sustainable development and entrepreneurship with an emphasis on emerging countries.
Keywords: entrepreneurship, sustainability, sustainable development, sustainable entrepreneurship, emerging countries, entrepreneurs
Is Team Entrepreneurial Orientation important in generating creative business ideas? The moderating role of team-perceived heterogeneity and the individual creative mindset
Abstract
PURPOSE: The study aims to unveil if Team Entrepreneurial Orientation (TEO) facilitates identification of creative market opportunities understood as novelty and quality business ideas. Entrepreneurial Orientation (EO) has rarely been measured at a team level and few studies have attempted to examine the relationship between EO and actual creative outcomes. The proposed research model searches for new patterns that can foster creativity of entrepreneurial teams. In addition, the research adds the moderating effect of perceived team heterogeneity and individual creative mindset (Growth-Creative and Fixed-Creative Mindsets) as contingency variables to improve the understanding under which circumstances the entrepreneurial teams generate creative business ideas. METHODOLOGY: The research sample comprises entrepreneurial teams from the Mondragon Team Academy in the Basque Country, Spain. The survey data were collected after the entrepreneurial teams performed idea generation. The applied experiment of idea generation of entrepreneurial teams has not been generated for the purpose of the study but it formed part of the natural processes of the selected sample of teams. The novelty and quality of business ideas were evaluated by experts in the field. The data relationships were analyzed through partial least square structural equation modeling (PLS-SEM). FINDINGS: Entrepreneurial Orientation of teams leads to product-market entries but not necessarily to novel product-market entries. Entrepreneurially oriented teams have a greater tendency to generate quality and slightly modified existing business ideas rather than to generate novel market opportunities. The applied moderators present different interaction results with the studied relationships. Specifically, individuals with a Fixed-Creative Mindset in a team have an antagonistic interaction on the TEO-Quality relationship. Team-Perceived Heterogeneity and Growth-Creative Mindset of individuals have no effect on either the TEO-Quality or the TEO-Novelty link. IMPLICATIONS: The research demonstrates the importance of contextualization of the nature of creativity in EO as a crucial antecedent of market innovations. Our study adds to the literature and practice by providing evidence that EO at a team level (TEO) plays a critical role in exploring product-market entries, given that TEO facilitates Quality outcomes only. Entrepreneurially oriented teams do not easily achieve Novel outcomes that allow them to enter new markets. Individuals with Fixed Creative Mindset in a team should be avoided as they block the relationship between Team Entrepreneurial Orientation and Quality. Likewise, our study supports the validity of Entrepreneurial Orientation at a team level, which can lead to more suitable practical implications for a team and its creativity management if applied. It could help in developing appropriate team formation and team management practices. ORIGINALITY AND VALUE: The study proposes rare and unique EO analysis at a team level and at young companies’ level (start-up). The study contributes to the original and overlooked in the literature conceptualization of EO within Schumpeter’s perspective of “creative destruction” in entrepreneurial activities. The examined theoretical foundations of EO led to clearer antecedents of behavioural effects of entrepreneurial teams towards product-market entries. The study initiates, identifies and calls for new further research lines to contribute to a greater and contingent understanding of how entrepreneurial teams generate creative business ideas, especially, novel business ideas, which are necessary for “creative destruction”, the EO construct itself and overall economic development.
Keywords: entrepreneurship, creativity, team, entrepreneurial orientation, creative outcomes.
Subjective norms and entrepreneurial intention: A moderated-serial mediation model
Abstract
PURPOSE: This study aims to clarify the effect mechanism of subjective norms on entrepreneurial intention. The results of how subjective norms contribute to forming start-up intention are inconsistent and unclear, which is notable in previous research. By integrating the theory of planned behavior and the theory of self-efficacy, we investigate whether entrepreneurial self-efficacy and attitude toward entrepreneurship serially mediate the relationship between subjective norms and intention to start a business. In addition, this study examines the moderate role of entrepreneurial education on the serial indirect effect of subjective norms on entrepreneurial intention via entrepreneurial self-efficacy and attitude toward entrepreneurship. METHODOLOGY: This study utilized a sample of 958 master’s students in Vietnam to investigate a moderated-serial mediation model of subjective norms on entrepreneurial intention. Confirmatory factor analysis (CFA) was carried out to check the reliability and validity of the scales. Then, the SPSS PROCESS macro developed by Hayes was employed to test the research model. Specifically, Model 6 was used to examine the serial indirect effect of subjective norms on start-up intention and Model 84 was implemented to investigate the moderate effect of entrepreneurial education. FINDINGS: The results of this study found that entrepreneurial self-efficacy and entrepreneurial attitude significantly mediate subjective norms’ effect on entrepreneurial intention. Especially, the results reveal that the serial mediation effect of entrepreneurial self-efficacy and attitude toward entrepreneurship was significant and entrepreneurial self-efficacy and attitude toward entrepreneurship played a fully mediating role in the relationship between subjective norms and start-up intention. In addition, this study found that the serial mediation effect of subjective norms on start-up intention via entrepreneurial self-efficacy and entrepreneurial attitude was negatively moderated by entrepreneurial education. IMPLICATIONS: The results of this study further clarify the relationship between subjective norms and entrepreneurial intention and the role of entrepreneurial education, therefore, contributing to narrowing the notable gap between this relationship. Besides, our study provides several implications for governments and policymakers to promote the intention to start a business. The finding of our study indicates that subjective norms are an important factor in promoting entrepreneurial intention. Therefore, policymakers should take some actions to promote entrepreneurial culture, such as strengthening propaganda activities to promote the image of successful entrepreneurs, praising businesses and entrepreneurs who contribute to society, and giving evidence of their contribution to the development of the country. Promoting an entrepreneurial culture may increase peer group pressure on potential entrepreneurs, thus enhancing the intention to start a business. ORIGINALITY AND VALUE: This study expects to contribute to a better understanding of the effect mechanism of subjective norms on entrepreneurial intention and explain the role of entrepreneurial education in this relationship. This study explores the mediating role of entrepreneurial self-efficacy and entrepreneurial attitude in the relationship between subjective norms and the intention to start a business. Additionally, this study demonstrates that entrepreneurial education weakens the serial mediation model of subjective norms on the intention to start a business.
Keywords: subjective norm, entrepreneurial self-efficacy, attitude toward entrepreneurship, entrepreneurial intention, entrepreneurial education, the theory of planned behavior, the theory of self-efficacy, moderated-serial mediation model
An overview of the empirical research on entrepreneurial alertness using a systematic literature review method
Abstract
PURPOSE: In the last two decades, the concept of entrepreneurial alertness (EA) has been considered a key element in investigating how individuals recognize entrepreneurial opportunities. Consequently, research on entrepreneurial alertness has grown considerably, attracting researchers’ attention from not only the field of entrepreneurship, but also other academic disciplines through which this concept has been studied from a variety of perspectives. Therefore, it is time to document researchers’ cumulative knowledge on entrepreneurial alertness. The present study aims to provide a comprehensive qualitative review and evaluation of the empirical entrepreneurial alertness research. METHODOLOGY: Based on a multi-step approach used in previous studies, which guarantees a systematic, transparent, and replicable literature review, this study identified a final sample of 84 articles published in scientific journals between 2005 and 2021 that empirically tested the concept of EA. The publications were sourced from the Web of Science database. Their analysis involved the evolution of published articles, the journals that have published the most articles, the countries where the research was undertaken, the measurement scales that have been used, and the research models in which entrepreneurial alertness has been hypothesized and examined through empirical research. FINDINGS: The results show that empirical research on entrepreneurial alertness grew significantly from 2016 to 2021, during which period almost 11 articles per year were published. Seven of the journals that published the articles contributed 28 percent of the total publications. Also, the results confirm that most of the empirical research on alertness has been carried out in developing economies, from which China stands out with 14 publications, representing 16 percent of the total. Additionally, the results confirm the growing consensus regarding the conceptualization and measurement of entrepreneurial alertness. Finally, the review resulted in the identification of five broad research models in which EA has been hypothesized and examined through empirical research: antecedents, consequences, mediation, moderation, and moderated mediation. The model examining the consequences or outcomes of entrepreneurial alertness has received the most attention, with 59 articles in this context. IMPLICATIONS FOR THEORY AND PRACTICE: The identification of concepts and the type of relationship they have with entrepreneurial alertness help evaluate the advances of empirical research as well as the areas of opportunity. In this way, future studies can strengthen research and thus advance the general knowledge of alertness. The most studied topics are also a reflection of the contribution of entrepreneurial alertness toward practice, both at the individual and organizational levels. In addition, researchers interested in entrepreneurial alertness are encouraged to consider the progress made in the measurement of this aspect, which offers alternatives for investigation. ORIGINALITY AND VALUE: Based on the review of the literature, this study organizes the empirical research of entrepreneurial alertness in different research models, which provide important insights into its process. Moreover, this study uncovers potential areas to be addressed and thereby contributes to the study of entrepreneurial alertness.
Keywords: entrepreneurial alertness, systematic literature review, entrepreneurial opportunity, research models, opportunity recognition, alertness, entrepreneurship
The linkage between economic literacy and students’ intention of starting business: The mediating role of entrepreneurial alertness
Abstract
PURPOSE: Enhancing the number of entrepreneurs is a major study to combat economic and social problems. Psychological factors considered as effective stimulants for entrepreneurial behavior have attracted many researchers in the last decade. The purpose of this research attempts to examine how the influence of economic literacy can promote the intention of starting a new business among students and explore the role of entrepreneurial alertness in mediating this relationship. METHODOLOGY: The research adopted a quantitative approach in which hypotheses were statistically estimated using partial least square structural equation modeling (PLS-SEM) based on survey data using a self-administered questionnaire (n=450) from several universities in Indonesia. FINDINGS: The analysis indicates that economic literacy has a significant effect on students’ entrepreneurial alertness and intention to start a new business. Indeed, entrepreneurial alertness can mediate the relationship between economic literacy and the intention of starting a new business. However, among entrepreneurial alertness dimensions, scanning and search failed in determining the students’ intention of starting a new business. IMPLICATIONS: The result of this research can provide insight into the literature on the entrepreneurship theme and policymakers concerned with delivering new business creation. Besides, educational institutions can consider the matter of economic literacy to be part of their curricula in order to foster the students’ intention of starting a business. In addition, economic literacy also needs to be associated with examples relevant to entrepreneurial activities, especially in production, distribution, and online marketing. ORIGINALITY AND VALUE: The interesting findings of this paper serve as a reminder that entrepreneurial alertness is one of the predictor variables and mediators for raising the students’ intention. This implies that entrepreneurial alertness can be enhanced by economic literacy, as well as how they need to be used to improve course curriculum and the teaching pedagogy. Furthermore, educational institutions could provide business internship programs and entrepreneurship incubators to raise the students’ intention of starting business.
Keywords: economic literacy, entrepreneurial alertness, intention, starting business
... Fifth, the next key condition for retaining an article depended on whether it was empirical and ensured the theoretical relevance of the EA construct. A deep exploratory study of the 135 remaining articles was carried out, and this action facilitated the exclusion of 31 theoretical or literature review articles (e.g., Sharma, 2019;George et al., 2016;Ardichvili et al., 2003;Gaglio & Katz, 2001;Sambamurthy, Bharadwaj & Grover, 2003;Tang et al., 2012) as well as 10 qualitative or case studies articles (e.g., Liu & Liang, 2021;Fiet, Norton, & Clouse, 2013). This screening produced 94 publications potentially relevant to the scope of this study. ...
PURPOSE: In the last two decades, the concept of entrepreneurial alertness (EA) has been considered a key element in investigating how individuals recognize entrepreneurial opportunities. Consequently, research on entrepreneurial alertness has grown considerably, attracting researchers’ attention from not only the field of entrepreneurship, but also other academic disciplines through which this concept has been studied from a variety of perspectives. Therefore, it is time to document researchers’ cumulative knowledge on entrepreneurial alertness. The present study aims to provide a comprehensive qualitative review and evaluation of the empirical entrepreneurial alertness research. METHODOLOGY: Based on a multi-step approach used in previous studies, which guarantees a systematic, transparent, and replicable literature review, this study identified a final sample of 84 articles published in scientific journals between 2005 and 2021 that empirically tested the concept of EA. The publications were sourced from the Web of Science database. Their analysis involved the evolution of published articles, the journals that have published the most articles, the countries where the research was undertaken, the measurement scales that have been used, and the research models in which entrepreneurial alertness has been hypothesized and examined through empirical research. FINDINGS: The results show that empirical research on entrepreneurial alertness grew significantly from 2016 to 2021, during which period almost 11 articles per year were published. Seven of the journals that published the articles contributed 28 percent of the total publications. Also, the results confirm that most of the empirical research on alertness has been carried out in developing economies, from which China stands out with 14 publications, representing 16 percent of the total. Additionally, the results confirm the growing consensus regarding the conceptualization and measurement of entrepreneurial alertness. Finally, the review resulted in the identification of five broad research models in which EA has been hypothesized and examined through empirical research: antecedents, consequences, mediation, moderation, and moderated mediation. The model examining the consequences or outcomes of entrepreneurial alertness has received the most attention, with 59 articles in this context. IMPLICATIONS FOR THEORY AND PRACTICE: The identification of concepts and the type of relationship they have with entrepreneurial alertness help evaluate the advances of empirical research as well as the areas of opportunity. In this way, future studies can strengthen research and thus advance the general knowledge of alertness. The most studied topics are also a reflection of the contribution of entrepreneurial alertness toward practice, both at the individual and organizational levels. In addition, researchers interested in entrepreneurial alertness are encouraged to consider the progress made in the measurement of this aspect, which offers alternatives for investigation. ORIGINALITY AND VALUE: Based on the review of the literature, this study organizes the empirical research of entrepreneurial alertness in different research models, which provide important insights into its process. Moreover, this study uncovers potential areas to be addressed and thereby contributes to the study of entrepreneurial alertness.
... Based on the active search strategy, profitable opportunities can be discovered through purposeful, deliberate, and conscious searching (Chandler et al., 2003), stimulated either because of a short failure in a perfectly competitive market (i.e., neoclassical economics view) or heterogeneous distribution of specific information and resources (i.e., information economics view) (Fiet, 2002;Sarasvathy et al., 2005). The neoclassical economics view is developed based on a positivist epistemology (Suddaby et al., 2015), assuming that all individuals in the market have complete information before launching a business (Fiet et al., 2013), and thus it is possible for every individual in the market to systematically search for profitable opportunities within a market through deductive reasoning, causal explanation, statistical inference, and risk calculation (Chandler et al., 2011). In contrast, the information economics view abandoned the implicit assumption of perfect information and introduced the concept of imperfect information into economics (Lin, 2005). ...
... Although the fortuitous strategy for discovering opportunities shares the same ontology and epistemology as in the information economics view to active search strategy and the passive search strategy, scholars asserted that it is impossible to propose any teaching approaches in line with this strategy to foster OI capability (DeTienne & Chandler, 2004;Fiet et al., 2013), as it views opportunity discovery as a "luck-based" approach (Demsetz, 1983). ...
The primary purpose of this conceptual study is to propose a theoretical framework for developing EE programs
that aim to foster individuals’ OI capability. This will be done by exploring the relationship between the two
main philosophical perspectives in the entrepreneurship field concerning entrepreneurial opportunities (i.e.,
opportunity discovery and creation) and learning theories in the education field based on their shared
philosophical roots.
The authors reviewed extensively related literature and research on different philosophical perspectives of
entrepreneurial opportunities in the entrepreneurship field and learning theories in the education field. This
detailed literature review formed the basis for developing the framework.
Based on the proposed theoretical framework, the behaviorist and cognitivist teaching and assessment
approaches are the most consistent approaches with the opportunity discovery perspective’s philosophical
assumptions, and social constructivist approaches are more appropriate for developing EE programs based on
the opportunity creation perspective. Moreover, our framework suggests that different philosophical
perspectives, views on opportunities, and learning theories do not exclude one another but can exist next to
each other in designing and developing efficacious EE programs.
The proposed framework would determine the pedagogical implications of different philosophical perspectives
in the entrepreneurship field concerning entrepreneurial opportunities, better informing future EE educators
and researchers about the most appropriate teaching and assessment approaches of EE programs that aim to
foster OI based on each perspective.
By conceptualizing how educational philosophies can be integrated into EE to support entrepreneurial learning,
the paper provides future entrepreneurial researchers and educators with a novel theoretical framework that
integrates the knowledge within both the entrepreneurship and education field.
... The neoclassical economics view is in line with the conception of markets as an "allocative process" , wherein the role of entrepreneurs is to match known products with existing demand (Miller, 2007). The neoclassical theory is developed around the assumption of perfect information (Gowdy & Olsen, 1994), which means all individuals in the market have complete information before launching a business (Fiet et al., 2013). This viewpoint has root in the positivist epistemology (Chiles et al., 2010;Suddaby et al., 2015), assuming that it is possible for each and every individual in the market to clearly perceive and define an objective they want to accomplish (DeTienne & Chandler, 2004) and systematically search for profitable opportunities within a market that meet that objective through deductive reasoning, causal explanation, statistical inference, and risk calculation (Chandler et al., 2011;Sarasvathy, 2001). ...
... Implications for EE. Scholars believe that it is not possible to propose teaching approaches based on this perspective for fostering OI (DeTienne & Chandler, 2004;Fiet, 2002;Fiet et al., 2013) because this perspective views opportunity discovery as a "luck-based" approach (Demsetz, 1983) that relies on alertness as some individuals' unique characteristic which enables them to consistently scanning their environment to discover opportunities (Kaish & Gilad, 1991). However, in some previous empirical studies, scholars implemented some strategies to support individuals in the alertness group, such as asking them to collect real samples of alertness-based discoveries (e.g., Fiet & Patel, 2008) or to read some articles on the importance of alertness for OI (e.g., Fiet et al., 2007). ...
The number of entrepreneurship education (EE) programs that aim to foster opportunity identification (OI) as a key entrepreneurial capability has grown considerably in the past few decades. However, these EE programs mostly lack a robust theoretical framework that could help educators and researchers select teaching approaches in line with their philosophical perspectives. This study proposes a theory-driven framework for fostering OI by bridging entrepreneurship and education fields, considering the ontological and epistemological assumptions that exist in both fields. The proposed framework includes different philosophical perspectives on entrepreneurial opportunities and strategies for identifying opportunities coupled with the most relevant learning theories and teaching approaches for fostering OI. Based on this framework, behaviorism and cognitivism are the most consistent learning theories with the opportunity discovery perspective's philosophical assumptions, and social constructivist learning theory is more appropriate for developing EE programs based on the opportunity creation perspective. This framework suggests that for developing an efficacious EE program to improve individuals' OI performance, different perspectives on the emergence of opportunities and learning should be combined and integrated into a consistent, constructively aligned EE program. The paper concludes with implications for the theory and practice in the entrepreneurship education field.
... The concept of alertness represents a distinct ability to notice idiosyncratic potential ideas for entrepreneurial venturing. Alertness has been employed to characterize the discovery-paradigm of opportunities (Fiet, 2007;Fiet, Norton, & Clouse, 2013) and has become a platform for addressing cognitive and functional attributes for recognizing new opportunities (Obschonka, Hakkarainen, Lonka, & Salmela-Aro, 2017;Valliere, 2013). Yet, cloudiness surrounding what it means to possess and employ alertness hampers knowledge gains (Keyhani & Levesque, 2016;Klyver, Hindle, & Meyer, 2008;Ramos-Rodriguez, Medina-Garrido, & Ruiz-Navarro, 2012). ...
... By better understanding what entrepreneurial alertness is, entrepreneurs can learn to activate their alertness in times of expansion or challenges, and contextually relevant growth ideas or solutions could be found. Additionally, by defining alertness as distinctly different than, but possibly complimentary to, other techniques of venture idea realization (e.g., systematic search; Fiet, 2007;Fiet & Patel, 2008;Fiet et al., 2013), entrepreneurs can attempt multiple exclusive techniques or combine techniques for their own best results. ...
Alertness is increasingly associated with entrepreneurial opportunities. However, ambiguity in the conceptualization and operationalization of the construct have limited its potential and utility for entrepreneurship research. Given the variations in treatment of alertness, we investigate the concept as it is currently evolving in entrepreneurship scholarship. With this examination, we bring to the forefront inconsistencies and emerging trends regarding the nomological alignment and measurement of alertness. This review and synthesis of alertness research clarifies conceptual inconsistencies stemming from its Kirznerian roots and offers a framework with agenda for entrepreneurial alertness research. This agenda includes the application of entrepreneurial alertness to the opportunity creation paradigm.
... Problem-solution pairings can also help guide the search process because an aspiring entrepreneur faces less uncertainty in searching for a solution to a known problem than searching for a completely unknown discovery. Research shows that constrained, systematic search is the most effective way to make discoveries which are fit, valuable, rare and inimitable (Fiet, Clouse, & Norton Jr, 2004;Fiet, 2007;Fiet, Norton, & Clouse, 2013). In addition to addressing concerns about Systematic Search, the important contribution of utilizing half of a pairing (problem or solution) helps reconcile the competing views of various theories of opportunity identification. ...
... In addition to the stimulus of emotional factors in entrepreneurs' IR, emotions like satisfaction can lead entrepreneurs to terminate the information searching process. Fiet et al. [35] argued that entrepreneurs tend to stop the IR when they believe the current search result is best, and no better results can be achieved with further research. Welter [33] referred to positive feelings, such as trust, as an instrument for entrepreneurs to determine the social cost and risk when deciding on the use of an IR system to approach information for overcoming their uncertainty in the business environment. ...
... Our results provide supports on the importance of affective factors in the success, failure, ending, and continuation of the IR activities [19, 33-34, 37, 40]. For instance, if an entrepreneur is happy with the results, she/he will stop the IR activity since the outcomes have already made her/him feel satisfied with the answer to the information needs [35]. Moreover, we argue that the IR does not only serve entrepreneurs regarding their information needs but also their emotional needs [19,[28][29]35]. ...
... For instance, if an entrepreneur is happy with the results, she/he will stop the IR activity since the outcomes have already made her/him feel satisfied with the answer to the information needs [35]. Moreover, we argue that the IR does not only serve entrepreneurs regarding their information needs but also their emotional needs [19,[28][29]35]. Thus, we suggest the first proposition. ...
A narrative review of the literature on the importance of affective factors in the information retrieval (IR) behaviours of entrepreneurs is presented in this paper. Through the lens of Media Richness Theory, we examine the importance of the richness of information and medium to the success of the IR process. The results show that IR system does not only serve entrepreneurs regarding their information needs but also their
emotional needs. The richness of the IR system, referring to the accessibility, is an essential factor for entrepreneurs’ preference and use of the IR medium. This paper contributes to literature by showing how affective attributes are associated with other factors, in addition to their effect on the IR behaviours. The findings reveal that the affective characteristics are both an individual need and a determining component in the process.
... The concept of alertness represents a distinct ability to notice idiosyncratic potential ideas for entrepreneurial venturing. Alertness has been employed to characterize the discovery-paradigm of opportunities (Fiet, 2007;Fiet, Norton, & Clouse, 2013) and has become a platform for addressing cognitive and functional attributes for recognizing new opportunities (Obschonka, Hakkarainen, Lonka, & Salmela-Aro, 2017;Valliere, 2013). Yet, cloudiness surrounding what it means to possess and employ alertness hampers knowledge gains (Keyhani & Levesque, 2016;Klyver, Hindle, & Meyer, 2008;Ramos-Rodriguez, Medina-Garrido, & Ruiz-Navarro, 2012). ...
... By better understanding what entrepreneurial alertness is, entrepreneurs can learn to activate their alertness in times of expansion or challenges, and contextually relevant growth ideas or solutions could be found. Additionally, by defining alertness as distinctly different than, but possibly complimentary to, other techniques of venture idea realization (e.g., systematic search; Fiet, 2007;Fiet & Patel, 2008;Fiet et al., 2013), entrepreneurs can attempt multiple exclusive techniques or combine techniques for their own best results. ...
