Creativity in Opportunity Development Essay

3212 WordsNov 25, 201313 Pages
The role of creativity in opportunity development Introduction: “To have entrepreneurship you must have entrepreneurial opportunities” state Shane Shane and Venkataraman, (2000). Research about opportunity from entrepreneurship scholars has been increasing during these last two decades in an attempt to encounter the link between successful innovative ventures and that moment in their past when it all started; the moment that entrepreneurs were enlightened by the right opportunity. In this set, the development of various conceptual theories and studies conducted with entrepreneurs, ranging from nascent to serial experienced ones, increased significantly. However, the link between creativity and entrepreneurial opportunity development has been often under looked in the theories of entrepreneurial opportunities although the famous founders of worldwide companies such as Apple, Facebook or Amazon were often associated with being creative insightful individuals with revolutionary ideas that have changed the course of technology and its dominance in our lives. This essay is structured as follows .In the next section, an overview of the theories of opportunities along with their conflicts is drawn. This is followed by a presentation of a framework of an opportunity development process compromising the different perspectives of entrepreneurial opportunities. Finally, the relationship between creativity and opportunity development focusing on the first stage of opportunity identification/recognition will be discussed as essential to the development of the profitable new ventures. Entrepreneurial opportunity theories: Discovery and Creation “Are opportunities like mountains, just waiting to be discovered and exploited”, “or are they mountains to be built”, ask Alvarez and Barney (2007)? Bygrave and Hofer (1991) define an entrepreneurial process as a set of activities

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