Opportunity recognition by growing SMEs: a managerial or entrepreneurial function?

This paper identifies different ways in which growth-minded SME owner-managers can recognize realistic opportunities for their companies. The entrepreneurship and marketing fields of study are investigated to create an understanding of the opportunity recognition process of owner-managers. Research...

Full description

Saved in:

Bibliographic Details
Published in:	Journal of strategic marketing 2015-11, Vol.23 (7), p.616-642
Main Authors:	Hulbert, Bev, Gilmore, Audrey, Carson, David
Format:	Article
Language:	eng
Subjects:	Business growth Entrepreneurs Market potential Marketing Marketing management opportunity recognition Small & medium sized enterprises-SME SME growth strategic decisions Studies
Online Access:	Get full text
Tags:	Add Tag No Tags, Be the first to tag this record!

Description
Summary:	This paper identifies different ways in which growth-minded SME owner-managers can recognize realistic opportunities for their companies. The entrepreneurship and marketing fields of study are investigated to create an understanding of the opportunity recognition process of owner-managers. Research using a qualitative methodology consisting of in-depth interviews with owner-managers of 20 SME's that had clearly demonstrated a desire to grow was carried out. This study found that management of opportunity recognition in owner-managed SME's is as much a management function as an entrepreneurial one. Opportunity recognition in SME's requires innovative individuals, but this does not mean that they are necessarily entrepreneurs; it requires marketing skills in the strategic sense but does not need professional marketers or functional marketing expertise. Opportunities can best be recognized by owner-managers with relevant market knowledge, and can be gained through experience or analysis and needs a trigger or motivating propensity.
ISSN:	0965-254X 1466-4488