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Book Title Technology: Toward Business Sustainability
Series Title
Chapter Title The Impact of Entrepreneurship Institutional Support and Alertness Traits on Entrepreneurial Action: The
Mediating Role of Opportunity Evaluation Stage
Copyright Year 2024
Copyright HolderName The Author(s), under exclusive license to Springer Nature Switzerland AG
Corresponding Author Family Name Sallem
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Given Name Ramzi
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Division College of Business Administration
Organization A’Sharqiyah University
Address Ibra, Oman
Email ramzi.sallem@asu.edu.om
ORCID http://orcid.org/0000-0002-0222-2614
Author Family Name Battour
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Given Name Mohamed
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Division College of Business Administration
Organization A’Sharqiyah University
Address Ibra, Oman
Email mohamed.battour@asu.edu.om
ORCID http://orcid.org/0000-0003-1700-6487
Author Family Name Rashdi
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Given Name Mohammed
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Address Ibra, Oman
Email mohammad.alrashdi@asu.edu.om
ORCID http://orcid.org/0009-0007-7411-4202
Author Family Name Ibrahim
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Given Name Abdulhadi
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Email abdulhadi.ibrahim@asu.edu.om
ORCID http://orcid.org/0009-0001-5063-0081
Abstract The design of entrepreneurial processes deserves a concept as complex as the phenomenon of
entrepreneurship. In fact, designing a single process in which an individual with specific entrepreneurial
traits can evaluate the opportunities and move forward the entrepreneurial action within an institutional
environment, is very challenging. The aim of this research is to envision a contingent model of
entrepreneurship effective in terms of entrepreneurial activity dynamism. Drawing a recent literature, the
formal institutional support, alertness trait, opportunity evaluation, and entrepreneurial action, have been
identified as main important ingredient of the current designed conceptual framework. The originality of
this research lies in presenting a complete outline of entrepreneurship while exploring the effectiveness of
alertness trait among nascent entrepreneurs and the way they perceive entrepreneurship formal institutional
support, in improving their competence in evaluating opportunities and passing to the action stage. The
research also enables the discussion of more research questions in addition to many other challenges facing
policymakers about how to stimulate entrepreneurship activity, especially in developing countries.
Keywords
(separated by '-')
Formal institutional support - alertness - opportunity evaluation - entrepreneurial action
The Impact of Entrepreneurship Institutional
Support and Alertness Traits
on Entrepreneurial Action: The Mediating Role
of Opportunity Evaluation Stage
Ramzi Sallem(B), Mohamed Battour , Mohammed Al Rashdi ,
and Abdulhadi Ibrahim
College of Business Administration, A’Sharqiyah University, Ibra, Oman
{ramzi.sallem,mohamed.battour,mohammad.alrashdi,
abdulhadi.ibrahim}@asu.edu.om
Abstract. The design of entrepreneurial processes deserves a concept as complex
as the phenomenon of entrepreneurship. In fact, designing a single process in which
an individual with specific entrepreneurial traits can evaluate the opportunities and
move forward the entrepreneurial action within an institutional environment, is
very challenging. The aim of this research is to envision a contingent model of
entrepreneurship effective in terms of entrepreneurial activity dynamism. Draw-
ing a recent literature, the formal institutional support, alertness trait, opportunity
evaluation, and entrepreneurial action, have been identified as main important
ingredient of the current designed conceptual framework. The originality of this
research lies in presenting a complete outline of entrepreneurship while exploring
the effectiveness of alertness trait among nascent entrepreneurs and the way they
perceive entrepreneurship formal institutional support, in improving their com-
petence in evaluating opportunities and passing to the action stage. The research
also enables the discussion of more research questions in addition to many other
challenges facing policymakers about how to stimulate entrepreneurship activity,
especially in developing countries.
Keywords: Formal institutional support ·alertness ·opportunity evaluation ·
entrepreneurial action
1 Introduction
The focus of entrepreneurship research changed in the late 1990s, as authors proposed
a more holistic approach to the study of entrepreneurship (Chandra, 2018). A funda-
mental characteristic of the field of entrepreneurship and its research is the focus on
venture creation (Baron, 2007; Gartner, 1985; R. K. Mitchell et al., 2000). In this sense,
entrepreneurship is a complex phenomenon that derives from psychological, emotional
social, spatial, and institutional contexts that influence the entrepreneurial behaviors,
processes and expected outcomes (Elert & Henrekson, 2017; Henrekson et al., 2010;
© The Author(s), under exclusive license to Springer Nature Switzerland AG 2024
B. Alareeni and A. Hamdan (Eds.): ICBT 2023, LNNS 925, pp. 1–8, 2024.
https://doi.org/10.1007/978-3-031-54019-6_15
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2 R. Sallem et al.
Liguori et al., 2020). This complexity consists mainly in the duology individual, as set
of traits, skills and intention (Liguori et al., 2020; Petridou & Mintrom, 2021), and the
entrepreneurial process from the stage of ideation to the one of the creation (Bennett &
Chatterji, 2023).
As entrepreneurs are part of institutions, institutional entrepreneurship represents
activities of actors that have an interest in promoting certain institutional arrangements,
and that leverage resources to create new institutions or transform existing institutions
(Mahzouni, 2019). As is well known, institutions change over time, affecting opportu-
nities for and constraints on entrepreneurship, especially in developing countries. This
calls for scientific research on how entrepreneurship can change in line with the trans-
formation of institutions (Urbano et al. 2022; Dan Li et al., 2019; Meyer et al., 2015;
Dan Li, Hitt, Batjargal, Ireland, & Miller, 2019). In fact, the role of the enterprise in pro-
moting the perception and fruitful recognition of new opportunities has been identified
by many researchers around the world focusing on the successful entrepreneurial pro-
cess within a distinctive entrepreneurial environment. eg (Ala eddin, 2023; Gasse, 2003;
Kim, Aldrich, & Keister, 2006; Martz Jr, Biscacciante, Neil, & Williams, 2005; Min-
guzzi & Passaro, 2000; Marti, Courpasson, & Dubard Barbosa, 2013; Thornton, Ribeiro-
Soriano, & Urbano, 2011; Yasin, 1996; Dimitratos, Voudouris, Plakoyiannaki, & Nakos,
2012). However, evaluating the efficiency of this process in terms of entrepreneurial out-
comes is still not sufficiently studied because the diversity of mechanisms makes each
country take a unique approach when designing its program to stimulate entrepreneur-
ship. Furthermore, the relationship between formal institutions and traits has been high-
lighted by many researchers, who have been interested on innovativeness (Al-Baimani
et al., 2021; Mindaugas & Mokseckiene, 2013; Gasse, 2003, Shane & Venkataraman,
Rengade and rational championing strategies, 1996), or risk taking (Kreiser, Marino,
Dickson, & Weaver, 2010) or even in other traits (de Clercq & Dakhli, 2009); however
no research until now has focussed its role on alertness as important traits to the pursuit
of opportunities (Valliere, 2013, Tang et al., 2010; Kaish & Gilad, 1991).
AQ1
2 The Alertness Trait in the Core of Entrepreneurial Processes
This concept of entrepreneurial alertness was born with Israel Kirzner (1973), who argues
that entrepreneurs are not just risk-takers or innovators; they are individuals who possess
a unique ability to perceive market disequilibrium and profit opportunities that result
from the gaps between the current market situation and a potential equilibrium state. The
development of the alertness trait concept based on Israel Kirzner’s theory has led to the
evolution of frameworks that explore the role of alertness in entrepreneurship. Some of
them emphasized the role of alertness in identifying and evaluating opportunities based
on existing information while focusing on the cognitive aspects of how entrepreneurs
perceive and evaluate opportunities (Kaish et al., 1991). This framework has been soon
supported by many researchers while offering refinement to the alertness scale (Lowell
W. Busenitz, 1996; Tang et al., 2012). Nowadays, the entrepreneurial alertness trait is
an important ingredient of entrepreneurial processes. Indeed, entrepreneurial alertness
influences how entrepreneurs recognize and capitalize on opportunities (Tang, 2008),
and navigate the dynamic and uncertain landscape of entrepreneurship. They are more
Author Proof
The Impact of Entrepreneurship Institutional Support and Alertness Traits 3
likely to take swift action when they identify an opportunity. They understand that
timing is crucial in entrepreneurship, and they are willing to move quickly to exploit
opportunities before they become saturated or obsolete (Gaglio & Katz, 2001). It has
also an impact on the decision involving the maintenance of competitive advantage in
more mature organization (Roundy et al., 2018). The alertness affects the passion among
entrepreneurs to make strategic change (Montiel-Campos, 2021) or to build strong social
networks allowing them to identify opportunities (Ma et al., 2020) while improving their
self-efficacy and intention toward the entrepreneurial act (Jiatong et al., 2021). Hence
successful entrepreneurs have a high level of entrepreneurial alertness enabling them to
identify and capitalize on potential opportunities in the market that others might overlook
(Sharma, 2019).
3 Alertness Toward the Entrepreneurship Institutional Support
Formal and informal institutions are important for the quality and quantity of
entrepreneurship, and that there is a dynamic relationship between institutions and
economic development (Chowdhury et al., 2019). Formal institutions, including legal
rules, government support measures, and procedures, have been considered critical in
in shaping the entrepreneurial activity (Stephen et al., 2005), especially in the emerging
economies (Halilovich & Efendic, 2021; Sarfati, 2019). There is an ambivalent rela-
tionship between entrepreneurs and institutions. Certainly, institutions have a significant
impact on the entrepreneurial process, and understanding the specific institutional fac-
tors that affect entrepreneurship is crucial for policymakers and practitioners to improve
the entrepreneurial activity (Arabiyat et al., 2019). However, the entrepreneurs can also
affect institutions in various ways, including through innovative political entrepreneur-
ship (Henrekson, 2007; Henrekson et al., 2010). An entrepreneur’s institutional role
perception can affect how they navigate these frameworks and whether they see them-
selves as disruptors, conformists, or collaborators within the existing institutions (Sutter
et al., 2013). This awareness can influence their role perception as rule-followers or
rule-challengers, depending on whether they choose to comply with existing regulations
or work to change them (Elert & Henrekson, 2017). Alert nascent entrepreneurs might
identify areas where established institutions are lagging. This can lead them to develop
innovative solutions and opportunities that challenge the status quo. Some formal institu-
tions offer innovation challenges, competitions, and grants to encourage novel solutions
to societal problems. Alert entrepreneurs identify these opportunities and leverage their
creativity to develop innovative products or services that align with the institution’s goals
(Fuentelsaz et al., 2015,2019). They might recognize areas where innovation is needed
or where current institutions are lacking, thus shaping their role perception as potential
change-makers. From a strategic perspective, the alertness traits help the entrepreneurs
to adjust their institutional role perceptions based on changing circumstances. If there
are shifts in regulations or economic conditions, entrepreneurs with high alertness can
quickly adapt their strategies to fit the new context (Eiadat & Fernández-Castro, 2022).
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4 R. Sallem et al.
4 Opportunity Evaluation vs Entrepreneurial Action
Since 2009 the number of publications focusing on the opportunity evaluation process
has increased exponentially (Wood & Mckelvie, 2015), as it is a crucial step toward
the entrepreneurial action (J. R. Mitchell & Shepherd, 2010). Indeed, the opportunity
evaluation in entrepreneurship is a complex process that involves cognitive and rule-
based decision-making through the perception of risk (Dali & Harbi, 2016; Hean Tat
Keh et al., 2002; Riquelme & Alqallaf, 2020), the financial and social attributes of an
opportunity (Smith et al., 2010) and mainly by concretizing existing and novel ideas into
feasible prototypes (Pretorius et al., 2023). Entrepreneurs use socially constructed rules
to evaluate opportunities, and that individual differences in knowledge and worst-case
scenario thinking influence opportunity evaluation (Wood & McKinley, 2010). They
evaluate opportunities based on their existing knowledge resources but may also pur-
sue the acquisition of new resources that are inconsistent with their existing knowledge
(Haynie et al., 2009). Hence, the opportunity evaluation process is a structured approach
used by individuals, entrepreneurs, and organizations to assess the potential of a busi-
ness idea, project, or venture before committing significant resources to it. This process
involves gathering relevant information (Autio et al., 2013), analyzing various aspects
of the opportunity, and making informed decisions about whether to pursue or abandon
the opportunity (Haynie et al., 2009,2010; D. Shepherd & Haynie, 2009).Opportunity
evaluation is a distinct and a very complex phenomenon and there is a tough passage
from the opportunity evaluation stage to the one of action, which needs more explo-
ration to understand this enigma. Indeed, some entrepreneurs might struggle with or
delay the execution of opportunities even after evaluating them positively due to many
factors psychological, cognitive, and contextual factors that affect this critical phase of
entrepreneurship, such as entrepreneurs’ perception of uncertainty, their temporal ori-
entation, and the socio-cognitive challenges they face (McMullen & Shepherd, 2006;
D. A. Shepherd et al., 2007). Does it represent the solid bridge between the stage of
ideation and the one of creation (Williams & Wood, 2015; Wood & Williams, 2014)?
5 Alertness Trait and Opportunity Evaluation Process
Entrepreneurial alertness significantly and directly predicted opportunity recognition (Li
et al., 2015; Meera Ntayi et al., 2022) which subsequently influences the entrepreneurial
action (Neneh, 2019). Indeed, Alert individuals are attuned to changes, trends, and signals
within the market (Zaheer & Zaheer, 1997). They can spot shifts in consumer preferences,
emerging technologies, regulatory changes, and other factors that create opportunities
for new products, services, or business models (Srivastava et al., 2021) through the
recognition of inefficiencies or suboptimal processes within industries (Shane, 2000).
The entrepreneurs with high level of alertness are synthetizing information from different
sources and disciplines to uncover novel opportunities at the intersection of various fields
as the patterns they then perceive in these events or trends suggest ideas for new products
and services (Baron, 2006). Figure 1displays the conceptual framework.
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The Impact of Entrepreneurship Institutional Support and Alertness Traits 5
Fig. 1. Conceptual Framework
6 Limitation and Future Research
An examination of the comprehensive literature in the last two decades shows that the
majority of scholars have failed to provide a clear definition of entrepreneurial oppor-
tunity or a method of how this complex process works (Hussain & Li, 2022; Hansen
et al., 2011; Ferreira, 2022). In this sense, the gap in the literature is very huge and
the limitations are numerous. In fact, we concluded that only 20% of the 75 articles
examined in these provided tools for measuring opportunities within the entrepreneurial
process with the number of opportunities discovered. What’s more, 30% of the articles
that presented conceptual models of opportunity provided no consensus either on its
definition or on its recognition through some process. Thus, we conclude the following
limitations: (1) lack of experimental research; (2) lack of tools to measure opportunity
recognition; (3) There is no consensus on the determinant of opportunity recognition;
(4) Unclear definition of opportunity recognition; (5) There is no link between intention
and opportunity recognition; (6) There is no link between identifying an opportunity
and moving into employment.
The conceived framework is a foretaste for further empirical investigation, to
answer the research questions “what”, “why” and “how” to improve the entrepreneurial
ecosystem to be effective in terms of entrepreneurial action (Petridou & Mintrom, 2021).
7 Conclusion
Entrepreneurship requires action (Drucker, 2014) whether conceptualized as creating
new products or processes (Clausen, 2019), entering new markets (Lumpkin & Dess,
1996), or creating new ventures (Gartner, 1985), entrepreneurship typically involves
a meso-level phenomenon in which Personal initiative over system-wide activity and
outcomes (Urbano et al. 2022; McMullen Shepherd 2006; Kilby, 1971; Steveson &
Jarillo, 1990). Being an entrepreneur therefore means acting on the possibility that one
has identified an opportunity worth pursuing. Hence, the goal of the current research: To
build the process of entrepreneurial action while investigating theoretically the role of the
alertness trait and the entrepreneurship institutional support on evaluating the opportunity
and moving toward the effective act. Hence, some business concepts were identified as
the only way, so far, to give a clear trace that helps to recognize the opportunity (Mensah
et al., 2021).
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6 R. Sallem et al.
The current research had contributed to the enrichment of the opportunity recognition
literature by filling some gaps regarding the transition of the nascent entrepreneurs, from
the perception of the entrepreneurship institutional support to the opportunity evaluation
stage, and then to the entrepreneurial action one, while considering the effectiveness of
the alertness trait in such entrepreneurial process.
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Author Proof
Author Queries
Chapter 15
Query Refs. Details Required Author’s response
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Urbano, 2011; Yasin, 1996; Dimitratos, Voudouris, Plakoyian-
naki, & Nakos, 2012; Al-Baimani et. al., 2021; Mindau-
gas & Mokseckiene, 2013; Gasse, 2003, Shane &
Venkataraman, Rengade and rational championing strategies,
1996; Valliere, 2013, Tang et. al., 2010; Kaish & Gilad,
1991; Israel Kirzner (1973); Kaish et al., 1991; Lowell W.
Busenitz, 1996; Stephen et al., 2005; Henrekson, 2007; Zaheer
& Zaheer, 1997; Shane, 2000; Hussain & Li,
2022; Hansen et. al., 2011; Ferreira, 2022; Drucker,2014; Clausen,
2019; Lumpkin & Dess, 1996; Urbano et al. 2022; Kilby,
1971; Steveson & Jarillo, 1990” are cited in the text but
not provided in the reference list. Please provide the respective
reference in the list.
AQ2 Please check and confirm the edit made in Ref. “Elert and
Henrekson, 2017”. Amend if necessary.
AQ3 Reference “Arabiyat et al. (2019)” is given in the list but not cited
in the text. Please cite it in text.
AQ4 As References Haynie et al., 2009.a and Haynie et al., 2009.b are
same, we have deleted the duplicate reference. Please check and
confirm.
Author Proof
