Abstract
Alertness is a foundational concept in current understandings of the spotting and exploitation of entrepreneurial opportunities. In this paper its two broad aspects from psychology have been explored and a model has been generated; reflecting the hierarchical relation between alertness aspects and mindfulness factors. Results show that mindfulness mediates the relationship between alertness and novelty creation. We use Interpretive Structure Modeling (ISM) to create the model of entrepreneurial alertness and mindfulness. The model is generated on the basis of ten technological entrepreneurs in the ISM session in Iran. They voted on the mutual relations of the elements. The results showed that mindfulness fosters alertness, which then leads to the creation of novel things. This also shows that mindfulness deserves more investigation for its potential role in other parts of entrepreneurial process.
Highlights
Entrepreneurial alertness (EA) is the most important cognitive capability of entrepreneurs in spotting and exploiting entrepreneurial opportunities (Baron, 2004, 2006; Tang, Kacmar & Busenitz, 2012; Valliere, 2013)
In order to create a graphical representation of complex interaction between the specific elements of alertness and mindfulness, Interpretive Structural Modelling (ISM) has been used
This study investigated the factors that appear to have the greatest influence on the entrepreneurs’ alertness and opportunity recognition behaviour, and includes the factors identified by prevailing studies and the additional factors generated through Interpretive Structure Modeling (ISM) sessions with experts and technological entrepreneurs
Summary
Entrepreneurial alertness (EA) is the most important cognitive capability of entrepreneurs in spotting and exploiting entrepreneurial opportunities (Baron, 2004, 2006; Tang, Kacmar & Busenitz, 2012; Valliere, 2013). Despite the importance of it, there is not a clear theory about how entrepreneurial alertness is created and developed in entrepreneurs. As the first developer of the theory, didn’t reveal it and declared “my own work has nothing to say about the secrets of successful entrepreneurship” (Kirzner, 2009:145) and he doesn’t explain the essence or nature of this entrepreneurial feature (Kirzner, 2009). There are numerous studies that had a focus on antecedents of alertness. The studies were mainly testing the effect of a single factor on entrepreneurial alertness without a holistic view toward it.
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