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The Extent and Nature of Opportunity Identification by Experienced Entrepreneurs

Ucbasaran, D.; Westhead, P.; Wright, M.

Authors

D. Ucbasaran

M. Wright



Abstract

Guided by insights from cognitive theories, this article explores the links between entrepreneurs' prior business ownership experience and their opportunity identification behavior. Hypotheses were tested using data from 630 entrepreneurs. Experienced entrepreneurs identified more opportunities and exploited more innovative opportunities with greater wealth creation potential. Entrepreneurs that had owned more than 4.5 businesses, however, identified fewer opportunities. The nature of prior business ownership experience also shaped opportunity identification behavior. An inverse U-shaped relationship was detected between the proportion of failed businesses relative to the number of businesses owned and the number of opportunities identified in a given period. Business failure experience was not associated with the innovativeness of exploited opportunities.

Citation

Ucbasaran, D., Westhead, P., & Wright, M. (2009). The Extent and Nature of Opportunity Identification by Experienced Entrepreneurs. Journal of Business Venturing, 24(2), 99-115. https://doi.org/10.1016/j.jbusvent.2008.01.008

Journal Article Type Article
Publication Date Mar 1, 2009
Deposit Date Aug 5, 2011
Journal Journal of Business Venturing
Print ISSN 0883-9026
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 24
Issue 2
Pages 99-115
DOI https://doi.org/10.1016/j.jbusvent.2008.01.008
Keywords Repeat entrepreneurs, Business ownership experience, Business failure, Opportunity identification, Innovative opportunities.
Public URL https://durham-repository.worktribe.com/output/1506642