Entrepreneurial Opportunities: Who Needs Them?

Debate in management research on the status of the opportunity construct is now more than a decade old. We argue that the debate has led to little additional insight in entrepreneurship, and we develop the case for abandoning the construct altogether. Uncertainty is central to entrepreneurship and i...

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Bibliographic Details
Published in:Academy of Management perspectives 2020-08, Vol.34 (3), p.366-377
Main Authors: Foss, Nicolai J., Klein, Peter G.
Format: Article
Language:English
Subjects:
Entrepreneurs
Entrepreneurship
Innovations
Opportunity
Uncertainty
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Summary:Debate in management research on the status of the opportunity construct is now more than a decade old. We argue that the debate has led to little additional insight in entrepreneurship, and we develop the case for abandoning the construct altogether. Uncertainty is central to entrepreneurship and innovation yet absent from opportunity-based approaches. We offer instead a judgment-based approach of entrepreneurship that revolves around the nexus of resource heterogeneity and uncertainty and is operationalized in the beliefs-actions-results (BAR) framework.
ISSN:1558-9080
1943-4529
DOI:10.5465/amp.2017.0181