Influence of Entrepreneurial Experience, Alertness, and Prior Knowledge on Opportunity Recognition

Abstract

The influence of Chinese university students' entrepreneurial experience, alertness, and prior knowledge on opportunity recognition was examined using the novice–experienced entrepreneurs contrast paradigm. After viewing a self-made opportunity situation, 94 entrepreneurial university students and 114 nonentrepreneurial university students were instructed to complete via email or paper and pencil tests measures of opportunity recognition, entrepreneurial alertness, and prior knowledge. The results showed that entrepreneurial alertness significantly and directly predicted opportunity recognition, whereas prior knowledge significantly and indirectly affected opportunity recognition through its impact on entrepreneurial alertness. The entrepreneurial alertness of nonentrepreneurial university students significantly influenced their opportunity recognition; in contrast, the prior knowledge of entrepreneurial university students greatly influenced their opportunity recognition. Practical implications for entrepreneurial training and future directions for research on opportunity recognition are discussed.

Creativity, Proactive Personality, and Entrepreneurial Intention: The Role of Entrepreneurial Alertness

“…In the Chinese context, Li et al (2015) and Hu and Ye (2017) have studied Chinese university students, concluding that entrepreneurial alertness directly and significantly predicts opportunity recognition. The goal of alertness research is to discover not only the antecedents of alertness, but also its outcomes ( Kirzner, 2009 ).…”

Does Social Media Use Influence Entrepreneurial Opportunity? A Review of its Moderating Role

“…Politis [38] argues that experience and prior knowledge of the market can lead to a good customer relationship and influence new market-opportunity recognition. Entrepreneurs that have obtained substantial experience and prior knowledge are better able to analyze risk, cope with new things, and develop new products and services to meet customers' preferences [3]. …”

“…However, this process is often challenging for entrepreneurs as they try to create their own businesses and increase financial performance. Many researchers have explored when and how entrepreneurs recognize and exploit opportunity using available resources [2][3][4][5][6]. The ability to succeed has been explained in various different ways, ranging from individual differences [7,8] to sustainable entrepreneurship [9].…”

The Effect of Entrepreneurial Marketing on Competitive Advantage: Small Culinary Souvenir Industry in Jalan Mojopahit Medan, Indonesia

“…Although the idea and creativity of the business owner is essential in business, the idea and creativity will be useless if not supported by the ability to identify opportunities that exist in the market [15]. From the results of the research of Refrence [16], entrepreneurial experience, market sensitivity, and knowledge positively influence the identification of opportunities for an entrepreneur.…”