The production of entrepreneurial opportunity: a constructivist perspective

Wood, Matthew; McKinley, William

doi:10.1002/sej.83

Cited by 329 publications

(368 citation statements)

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“…The expected change in the life circumstances that have provided the push is as important to the entrepreneur as the more abstract notion of realizing opportunities for the sake of profit. Life circumstances may not only push the entrepreneur to locate opportunities, they may also determine how opportunities are constructed (e.g., Shane 2000;Wood and McKinley 2010). For example, the cognitions stimulated by layoff may influence the types of opportunity ideas that entrepreneurs conceive, as well as the social interactions they engage in to objectify those opportunity ideas into working ventures (Wood and McKinley 2010).…”

Section: Resultsmentioning

confidence: 99%

“…Life circumstances may not only push the entrepreneur to locate opportunities, they may also determine how opportunities are constructed (e.g., Shane 2000;Wood and McKinley 2010). For example, the cognitions stimulated by layoff may influence the types of opportunity ideas that entrepreneurs conceive, as well as the social interactions they engage in to objectify those opportunity ideas into working ventures (Wood and McKinley 2010). Stable personality attributes undoubtedly modify this construction and objectification process as well, so that the individual-opportunity nexus (Shane 2003) not only pushes individuals to realize objective opportunities but also determines the types of opportunities they enact.…”

Section: Resultsmentioning

confidence: 99%

“…Opportunity identification concerns efforts to find, imagine, and objectify promising business ideas for new entrepreneurial ventures (Dimov 2010;Wood and McKinley 2010). Entrepreneurship scholars have long recognized that the entrepreneurial process begins with "alert" individuals paying close attention to changes in the environments that give rise to entrepreneurial opportunities (Gaglio and Katz 2001;Kirzner 1979).…”

Section: Implications For Entrepreneurship Theorymentioning

confidence: 99%

“…This catalyzing effect may operate through increased risk tolerance, as prospect theory would suggest, but it may also be channeled through other cognitions, such as the desirability and feasibility cognitions we have discussed. Future theory and research could focus on the relationship between various aspects of unemployment and the opportunity creation or identification activities discussed by Baron and Ensley (2006), Sarasvathy (2001), Wood and McKinley (2010), and others.…”

Section: Implications For Entrepreneurship Theorymentioning

confidence: 99%

See 3 more Smart Citations

Endings and Visions of New Beginnings: The Effects of Source of Unemployment and Duration of Unemployment on Entrepreneurial Intent

Wood

McKinley

Engstrom

2013

Entrepreneurship Research Journal

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This study adopts the push-entrepreneurship perspective and develops a conceptual framework grounded in prospect theory, in order to investigate whether source of sunemployment, layoff in particular, and duration of unemployment stimulate entrepreneurial intent. We also propose that fear of failure and risk propensity moderate the source/duration-entrepreneurial intent relationships. We test our hypotheses using survey data from a sample of unemployed individuals. Results show that both layoff and duration of unemployment are stimuli for higher entrepreneurial intent, and the source of unemploymentintent relationship is moderated by fear of failure and risk propensity. We discuss the implications of these results. Abstract: This study adopts the push-entrepreneurship perspective and develops a conceptual framework grounded in prospect theory, in order to investigate whether source of sunemployment, layoff in particular, and duration of unemployment stimulate entrepreneurial intent. We also propose that fear of failure and risk propensity moderate the source/duration-entrepreneurial intent relationships. We test our hypotheses using survey data from a sample of unemployed individuals. Results show that both layoff and duration of unemployment are stimuli for higher entrepreneurial intent, and the source of unemployment-intent relationship is moderated by fear of failure and risk propensity. We discuss the implications of these results.

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Section: Resultsmentioning

confidence: 99%

Section: Resultsmentioning

confidence: 99%

Section: Implications For Entrepreneurship Theorymentioning

confidence: 99%

Section: Implications For Entrepreneurship Theorymentioning

confidence: 99%

See 2 more Smart Citations

Endings and Visions of New Beginnings: The Effects of Source of Unemployment and Duration of Unemployment on Entrepreneurial Intent

Wood

McKinley

Engstrom

2013

Entrepreneurship Research Journal

Self Cite

View full text Add to dashboard Cite

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“…When it comes to opportunity creation, the best-performing entrepreneurs tend to excel at aggressively executing knowledge that they can leverage through their social ties into actions (Ellis, 2003;Fiet, 2007;Wood & McKinley, 2010). In this process, some entrepreneurs are likely to seize opportunities with little planning, and execute their vision without proving its worth (Bhide, 1994;Honig & Karlsson, 2004).…”

Section: Competing On Knowledge Executionmentioning

confidence: 99%

Entrepreneurs as intermediaries

Peng

Lee

Hong

2014

Journal of World Business

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[Acknowledgment] We thank John Slocum (editor) and two reviewers for their guidance, and Dane Blevins, Omer Gokalp, Sergey Lebedev, Craig Macaulay, Canan Mutlu, Steve Sauerwald, Ciprian Stan, Weichieh Su for their helpful comments. This research was supported in part by a National Science Foundation CAREER Grant (SES 0238820) and the Jindal Chair at UT Dallas. The views are ours and not necessarily those of the underwriters. 2 Entrepreneurs as Intermediaries [Abstract]This paper sketches the contours of a theory of entrepreneurship focusing on the nature of entrepreneurship as intermediation under information asymmetries. While entrepreneurship, strategy, and finance researchers have studied the relationship between entrepreneurs and intermediaries, they tend to treat intermediaries, such as venture capitalists, as a separate organizational form that is parallel with (start-up) entrepreneurs. In this paper, we consider entrepreneurs as intermediaries who discover, create, and exploit entrepreneurial opportunities by bearing uncertainties stemming from intermediation between potential buyers and sellers under information asymmetries. Specifically, we focus on two key questions in entrepreneurship research: (1) Why do entrepreneurs arise and exist at all? (2) Why do some entrepreneurs perform better than others in creating entrepreneurial opportunities, and ultimately creating wealth? Our discussion culminates in a new research agenda with four testable propositions.3

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The Entrepreneurship Process

Webb

Pryor

2015

Wiley Encyclopedia of Management

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Marketing and entrepreneurship have long been recognized as two key responsibilities of the firm. Despite their tight integration in practice, marketing and entrepreneurship as domains of scholarly inquiry have largely progressed within their respective disciplinary boundaries with minimal cross-disciplinary fertilization. Furthermore, although firms increasingly undertake their marketing and entrepreneurial activities across diverse settings, academe has provided little insight into how changes in the institutional environment may substantially alter the processes and outcomes of these undertakings. Herein, we integrate research on marketing activities, the entrepreneurship process, and institutional theory in an effort to address this gap. We first discuss market orientation as enhancing a firm's opportunity recognition and innovation, whereas marketing mix decisions enhance oppor-tunity exploitation. We then examine how entrepreneurship leads to innovation directed toward market orientation and marketing mix activities. Based on this foundation, we examine differences in marketing and entrepreneurship activities across institutional contexts.

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The production of entrepreneurial opportunity: a constructivist perspective

Cited by 329 publications

References 106 publications

Endings and Visions of New Beginnings: The Effects of Source of Unemployment and Duration of Unemployment on Entrepreneurial Intent

Endings and Visions of New Beginnings: The Effects of Source of Unemployment and Duration of Unemployment on Entrepreneurial Intent

Entrepreneurs as intermediaries

The Entrepreneurship Process

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