Exploitation Of Opportunities Research Articles

Antecedents of entrepreneurial resilience in regions: A systematic literature review

Entrepreneurial resilience in regions is essential for enabling the entrepreneurial ecosystem to overcome natural disasters, catastrophes, wars, and various crisis situations it may face. However, this phenomenon has been underexplored in the literature despite its critical importance for business development, and consequently, for social progress. Therefore, the objective of this article is to conduct a systematic literature review to identify the antecedents of regional entrepreneurial resilience in situations of adversity. To achieve this goal, a qualitative, descriptive research approach was employed. Specifically, a systematic literature review was carried out following the PRISMA method, which included a total of 231 scientific articles retrieved from high impact journals. Of these, only 12% (27 documents) focused on regional entrepreneurial resilience. Five key antecedents of regional entrepreneurial resilience were identified: action orientation, the region’s historical precedents, opportunity exploitation, collaboration, resources, and preparedness. Additionally, it is suggested that future research should focus on understanding the impact of crises, identifying agile response models to crises, defining roles for each member of the entrepreneurial ecosystem to achieve economic recovery in regions, and analyzing the design of public policies that contribute to overcoming adversity. The study concludes that when a region is resilient, it is more likely to overcome crises and adversity.

Towards a Context-Contingent Stage Theory of Entrepreneurial Opportunity: Introducing the PETII Model

Understanding opportunity is a crucial aspect of entrepreneurship research. Existing studies have extensively examined individual factors in facilitating entrepreneurial activities such as new venture creation. Although there are some discussions on contextual factors, few connect context with the origin of entrepreneurship—opportunity. Recognising the objectivity of entrepreneurial opportunity, this theoretical article first proposes two types of opportunities—innovative opportunity and imitative opportunity—to understand the nature of opportunity. It then proposes a systematic framework—the PETII (Population, Economic status, Technological advancement, Industry life cycle, Institutions) model—to analyse the role of context in the distribution of opportunity. Furthermore, it examines how both objective contextual factors and subjective individual factors influence each of the three stages in the entrepreneurship opportunity theory, from opportunity discovery, to opportunity evaluation and to opportunity exploitation. The research helps understand the origin of entrepreneurship opportunities and can stimulate thoughts on how to encourage entrepreneurship in different places. Further discussions and implications are given at the end.

Raster Manipulations

Abstract The sense organs are not separated from each other. Contemporary art strives towards a holistic approach. The experimental artist is more sensitive to innovations and the exploitation of new opportunities, and the one who plays against the usual use of the medium or apparatus. This is a fundamental attitude towards progressive art. It would be a mistake to leave analog technology out of this contemporary story.

Sport Entrepreneurship: Definition and Conceptualization

The domain of sport entrepreneurship has become firmly established in the scientific community, but there remains an ongoing debate about the true meaning of sport entrepreneurship. Is sport entrepreneurship a distinct characteristic of sport, or is it a deduction of innovative behavior to create business in sport? Current conceptual progress is limited in important aspects of opportunity exploitation and value creation. This study offers a fundamental reconciliation based on a thorough literature review on the distinct nature of sport and theoretical constructs of entrepreneurial research to decode and recompose the concept of sport entrepreneurship. The presented effort towards a universally accepted definition is based on a process perspective and by integrating sport-related social entrepreneurship, this study is a prelude to improve the coherence of the future paradigm of sport entrepreneurship.

기업가적 리더십이 업무성과에 미치는 영향: 기회활용의 매개효과 및 진취적 풍토의 조절된 매개효과

Entrepreneurship and entrepreneurial orientation are important factors in organizational success and growth. Previous research on entrepreneurship has focused on organizational and strategic factors. However, there has been a lack of analysis on the efficacy of entrepreneurship, particularly on entrepreneurship from an organizational behavior perspective. Thus, this study examined the efficacy of entrepreneurial leadership at the individual level. We further analyzed the effects of entrepreneurial leadership on employee job performance. Specifically, this study tested the mediating effect of opportunity exploitation in the above relationship. In addition, we explored the moderating and moderated mediating effects of a proactive climate in those relationships. Based on survey data collected from 445 employees working for Korean firms, we tested direct, mediating, and moderating effects using hierarchical regression analysis. In addition, using the Hayes (2013) PROCESS macro, the moderated mediated effect of a proactive climate was analyzed. The results of the empirical analysis showed that entrepreneurial leadership was positively related to job performance. We also found that opportunity exploitation positively mediated the relationship between entrepreneurial leadership and job performance. While there was a positive moderating effect from a proactive climate on the relationship between opportunity exploitation and job performance, the moderated mediating role of the proactive climate was also proven. These findings highlight the pivotal role of entrepreneurial leadership in enhancing job performance. In particular, uncovering the mediating role of opportunity exploitation and the moderated mediating role of a proactive climate can provide theoretical and practical implications to managers who want to increase the positive impacts of entrepreneurial leadership in the organization.

Next generations of entrepreneurs: between independent new ventures and hierarchical family firms

This study explores the modes of exploitation of business opportunities among the next generation of entrepreneurs (NGEs) and how the family firm context influences the choice of mode. This is an area of limited knowledge. I argue that aside from adhering to existing family firms, NGEs also develop new ventures independent of their family firms. For this purpose, a multi-case study was conducted based on 15 Colombian entrepreneurs. These entrepreneurs were second and third-generation family firms, were involved within the FF or with their leaders, and demonstrated experience in exploiting business opportunities. The findings show that NGEs exploit business opportunities in their family firms, independently and simultaneously in both modes. NGEs that opt for the hierarchical mode experience cohesive family contexts and inclusive leadership focused on the family or the family firm. NGEs that opted for market mode by performing independent ventures were guided by leaders focused on entrepreneurship and who also promoted the formation of informal groups among NGEs. These results extend our comprehension of the influence of family firms in entrepreneurship and set the importance of fostering entrepreneurship among NGE to increase the opportunities to develop their interests without depending on the family firm.

Metaverse, entrepreneurial learning and opportunity exploitation

Metaverse, entrepreneurial learning and opportunity exploitation

Transforming stench to scent – the case of Phool.Co.

Learning outcomes After completion of the case study, students will be able to decipher key concepts underpinning sustainable entrepreneurship and its application in the recognition and exploitation of sustainable business opportunities, decipher the application of circular economy business models, understand the pivots to achieve the billion-dollar valuation and analyse the strategies for value creation during the pivoting journey of a startup. Case overview/synopsis The case study traces the journey of Phool.Co, a sustainable biomaterial startup based in a Tier II city of Kanpur located in the state of Uttar Pradesh, India, by Ankit Agarwal in 2017. Agarwal started with the vision of providing solution to the effects of water pollution and environmental damage. Ganga is not just a river, rather it is the symbol of cultural and religious faith in India. Although the river Ganga is considered a deity in India, it is one of the most polluted rivers. Every year 8,000,000 metric tonnes of waste flowers are dumped into the sacred river to pollute it further. The pollution poses grave dangers to the health and livelihood of millions of Indians. Phool.Co is a sustainable enterprise that has pioneered flower cycling technology. The dumped flowers are recycled to produce organic incense sticks, Florafoam, and “Fleather – the organic alternative to leather”. The case study traces the genesis of Phool.Co and its approach towards sustainability in the context of the circular economy. The case study primarily explores the pivot points for a startup to enter the unicorn club in the present context. To achieve the desired valuation, Agarwal must decide to rethink its business model. Will franchise model work for Phool.Co? Should Agarwal scale up with commercialization of Florafoam to capitalize the opportunity in packaging industry? Vegan leather is a nascent market and how will the consumers respond to Fleather is a pertinent question. The case study attempts to explore the challenges encountered in augmenting the valuation of sustainable enterprises. Complexity academic level This case study is suitable for graduate and postgraduate students enrolled in courses related to entrepreneurship, innovation and sustainability. The case study is of intermediate-level difficulty. There are no specific prerequisites to understand the case. Supplementary materials Teaching notes are available for educators only. Subject code CSS 3: Entrepreneurship.

The mediating effect of entrepreneurial action learning on the relationship between entrepreneurial orientation and entrepreneurial performance: A case study based on Chinese SMEs

Entrepreneurial Orientation (EO) emphasizes the identification and exploitation of business opportunities, while entrepreneurial action learning (EAL) underscores the acquisition of knowledge through practical experience and continuous improvement. Breakthroughs in both aspects contribute to maintaining flexibility, adapting to changes, and enabling success in competitive markets. The key to the development of small and medium-sized enterprises (SMEs) lies in a clear Entrepreneurial Orientation, a focus on Entrepreneurial Action Learning, and the cultivation of innovation spirit through continuous practice and experience accumulation, thereby enhancing entrepreneurial performance (EP). This study aims to explore the impact of Entrepreneurial Orientation on the Entrepreneurial Performance of SMEs, clarify the mediating role of Entrepreneurial Action Learning between Entrepreneurial Orientation and Entrepreneurial Performance, and investigate the variability of Entrepreneurial Performance among different industries. By means of data collection from 598 SMEs, data analysis was conducted using Structural Equation Modeling (SEM) and Analysis of Variance (ANOVA). The analysis results indicate that entrepreneurial orientation has a positive impact on entrepreneurial action learning and entrepreneurial performance, and entrepreneurial action learning has a positive impact on entrepreneurial performance. The study also found that entrepreneurial action learning partially mediates the relationship between entrepreneurial orientation and entrepreneurial performance. There are certain differences in entrepreneurial performance among different industries. This study enriches the relevant literature in the field of entrepreneurship. Additionally, research on entrepreneurial orientation, entrepreneurial action learning, and entrepreneurial performance in specific regional contexts is very limited, making this study valuable for subsequent research in related areas.

Inclement Entrepreneurial Gaps in Community Wildlife Management Business Model: A Case of Mbarang’andu and Tunduru Wmas in Southern Tanzania

Purpose: This study examined entrepreneurial gaps in Mbarang’andu and Tunduru Wildlife Management Areas (WMAs) since their establishment during the 5 years of business plan operations and implications thereafter. Design/Methodology/Approach: The population of this study was five WMAs that formed the cases for the study, and for the case of WMA leaders, the population was 40 leaders. The sample size for the WMAs selected as the cases for the study were two (2), Tunduru and Mbarang’andu purposefully selected. Further, the sample size for WMA leaders was 20 (50% of the population) purposefully selected. Descriptive analysis was used to summarise demographic and revenue data, and a Pearson Chi-square test was performed on the demographic data. A paired samples T-test was used to compare the required business start-up and available funds to reveal the equity gap in the two WMAs and compare the level of implementation of planned business activities in the two WMAs. Research Limitation: The research was limited to two WMAs and a small sample size since the client determined its size, given that this paper emanated from the consultancy project. Findings: Findings indicate that both WMAs have a high potential for carbon trading, photographic tourism, beekeeping, fish farming, and heritage tourism. The difference in the required funding and available funds for various expenditures in business start-ups was found to be statistically significant in both WMAs. The difference in the level of implementation of planned business activities was also found to be statistically significant in the two WMAs. Practical implications: To bridge the entrepreneurial gaps in the WMAs, proactive fundraising, diversification of income-generating activities, including carbon trading, human resource capacity building, and appropriate marketing of tourism and nature-based products are needed. Social Implications: The results of this research will form the basis for bridging entrepreneurial gaps in the WMAs, hence fueling optimal exploitation of entrepreneurial opportunities in wildlife that benefit the community at large in return. Originality: This paper is original; only some extracts were used in the conference proceedings for the University of Dodoma (UDOM) 2019. Its novelty is inclined to expose entrepreneurial gaps and the framework for bridging such gaps in wildlife businesses.

Seizing Capabilities and Performance of Supermarkets in Kenya

In Kenya the supermarkets provide market access for the manufacturers’ and small and medium enterprises’ products. In the recent past renowned supermarket brands such as Nakumatt, Tuskys, Choppies and Uchumi have collapsed due to underperformance. This paper examines the influence of seizing capabilities on the performance of supermarkets in Kenyan cities. The study was anchored on the dynamic capability theory (DCT). The study was grounded on positivism research philosophy and adopted crossectional descriptive research design. A structured questionnaire was used to collect primary data from 629 licensed supermarkets. A sample size of 304 respondents from a population of 1258 senior managers was used. Stratified random sampling method was used to select the sample size in Nairobi, Mombasa, Kisumu, and Nakuru. Descriptive statistics such as mean and standard deviation and inferential statistics which included correlation and regression are the statistical tools that were used to analyse the data. Statistical package for social scientists (SPSS) software version 28 was utilized to explore the data. The findings demonstrated that seizing capabilities have a statistically significance (β = 0.511, t = 12.501, p < 0.05) influence on the performance of supermarkets in the Kenyan cities. The study demonstrated that it is vital for supermarkets’ management to consciously design business models and allocate resources that can facilitate the optimal exploitation of new business opportunities to add value to the supermarkets. The management should develop a resource mobilization strategy to fund long term projects that are aimed at seizing opportunities that will improve supermarket’s survival and performance.

Applications of Photovoice-Based Entrepreneurial-Minded Pedagogical Interventions in the Engineering Classroom

The recent emergence of generative AI technologies is beginning to shape workforce hiring practices. The shift towards skills-based hiring over degree-based hiring has sparked concerns over the ability of college graduates to be prepared for their career roles. One approach to equip students to work with technology and adapt to rapidly changing environments is the development of an entrepreneurial mindset. One way to cultivate entrepreneurial thinking is through the participatory action research methodology, photovoice. This study explores how photovoice promotes discovery, evaluation, and exploitation of opportunities in university engineering classrooms. For this study, a literature review was conducted to identify, evaluate, and interpret available research. For the review, a five-step process was used. This process included defining a search criterion, constructing a Boolean logic search query, inserting the query into multiple academic search engines/databases, screening and selecting articles, and categorizing and mapping the literature. The review’s findings were organized based on the type of study, participants, duration of study and photovoice interventions used, study outcomes, and entrepreneurial mindset development. The results discussed in this paper offer insights, guidance, recommendations, and future directions for engineering education research.

The influence of politics on the governance of an entrepreneurial ecosystem in a developing country: a generative institutional discourse approach

ABSTRACT Entrepreneurship is often about the individual drive for innovation and the exploitation of opportunities; however, in an increasingly connected world, entrepreneurial ecosystems have gained considerable research interest. In many developed countries, entrepreneurial ecosystems emerge from organic collaborations between businesses and investors, with little political involvement. However, in a post-communist country like Kazakhstan, different stakeholders have diverse expectations, leading to tensions among them. In this study, we took a qualitative approach and drew from discursive institutionalism theory in entrepreneurship research in order to understand the influence of politics on the governance of an entrepreneurial ecosystem. Our findings reveal tensions between collective aspirations and individual goals, generating multiple institutional logics. The generative institutional discourse that is brought about by politics, their influence on governance, and facilitating factors is a mechanism that helps to turn such tensions into policies and collective action. To gain a better understanding of the influence of politics on the governance of entrepreneurial ecosystems, we propose a generative institutional discourse model.

Impact of Foreign Direct Investment on the Economic Growth of Nepal

The study investigates the factors influencing foreign direct investment (FDI) and its sectoral distribution in the Nepalese economy, specifically examining the relationship and impact of FDI on sectors such as minerals, manufacturing, construction, energy, and services over a ten-year period from 2011/12 to 2020/21. Descriptive and correlational research design was employed in the annual time series data. The major findings reveal a positive correlation (correlation co-efficient of 0.668) between FDI and Gross Domestic Product (GDP), signifying a significant relationship. The study concludes that FDI has a substantial impact on Nepal's GDP. Additionally, sectoral FDI investments, including minerals, construction, energy, manufacturing, and services, also positively influence the country's GDP. The study suggests that despite Nepal's untapped FDI potential, implementation challenges, lengthy approval processes, and a service sector bias among investors hinder optimal exploitation of investment opportunities in other sectors with higher productivity.

Building the Future of the Apparel Industry: The Digital Revolution in Enterprise Architecture

Using qualitative methodology, this study investigates the effects that the digital revolution in corporate architecture has had on the apparel industry. In this article, digital technologies, like AI, big data analytics, and the Internet of Things, are the main points of emphasis. They have revolutionized business and operational practices, as well as marketing strategies in the sector. According to the findings of this study, the implementation of advanced technologies significantly contributes to the enhancement of operational efficiency, the introduction of innovative products, and the enhancement of the competitiveness of businesses. The research also highlights the impact that digital transformation has had on sustainability and personalization in the clothing production industry. It demonstrates that adopting an enterprise architecture that is aligned with digital technologies not only increases operational efficiency but also strengthens innovative and competitive capacity. Furthermore, this research acknowledges the significance of ethically responsible and transparent business practices in this digital era, as well as taking into consideration the effects that digital transformation has on society and the environment. The findings of this study provide industry stakeholders with a strategic perspective that can be utilized in the formulation of adaptive business strategies, the exploitation of opportunities, and the facing of challenges in the ever-changing business environment that is associated with the digital era

Unearthing the Synergy of Entrepreneurial Skills, Smallholder Farming, and High-Value Agriculture: A Case Study from Punjab, Pakistan

Entrepreneurship is a key to the improvement in the quality of individuals, households, and communities viz a viz sustained economic growth of the country. Smallholder farmers’ entrepreneurship is the response to new opportunities to gain economic gains rather than subsistence agriculture. For example, to grow High-Value Agricultural (HVA) crops rather than conventional crops. The present study aims to assess the entrepreneurial characteristics of smallholders in the Punjab Province of Pakistan. For this purpose, cross-sectional data of 450 farmers were collected through a well-designed questionnaire. Data were analyzed by using simple statistics and inferential statistics. The probit model results show a positive significant impact of education, prior experience, risk aversion, knowledge and skills about crops, and self-actualization on the opportunity exploitation by the entrepreneurial HVA farmers. The finding of the factor analysis shows three important groups labeled as marketing, policy, and institutional support in the cultivation of HVA crops. Moreover, the outcomes of the multiple regression analysis reveal that emphasizing technological opportunities provides a novel viewpoint for entrepreneurial HVA farmers. Even in the absence of modern technological innovations, these farmers can still identify and capitalize on technological opportunities. Therefore, to foster entrepreneurship in HVA farming, it is suggested that the accessibility of improved seed varieties of HVA crops and access to market intelligence should be made more favorable for entrepreneurs.

Exploring street vendors’ entrepreneurial potential and gender disparities in an eastern cape port city, South Africa

This study examines the entrepreneurial potential of informal traders, specifically focusing on street vendors operating in East London, a prominent port city in the Eastern Cape, South Africa. Entrepreneurship, characterised by its dynamic nature entailing visionary foresight and astute exploitation of opportunities, requires agility and fervent dedication in nurturing novel concepts and implementing innovative solutions. Additionally, it aims to address the issue of low female participation in economic activities within this sector. Utilising a structured questionnaire designed for data collection, this research employs both descriptive and inferential statistics to analyze the entrepreneurial traits exhibited by street vendors. The investigation centers on six key independent variables: proactive personality, competitive aggressiveness, risk-taking propensity, perceived capability, perceived opportunity, and innovation. The study’s findings revealed that, among the factors studied, perceived opportunity and innovation were statistically significant contributors to the entrepreneurial potential of street vendors in East London. Moreover, the research identifies that despite demonstrating similar entrepreneurial potential factors as their male counterparts, females exhibit notably lower participation rates within the informal trading sphere. This research holds significant implications for policy formulation and intervention strategies. By highlighting perceived opportunity and innovation as critical factors influencing entrepreneurial potential, the study provides actionable insights for policymakers aiming to enhance the entrepreneurial landscape among street vendors. Furthermore, the identification of gender-specific participation gaps emphasises the need for targeted policies and programs to increase female engagement in informal trading.

Operationalizing Dynamic Capabilities and Market Orientation: Empirical Insights for Startups in Dynamic Environments

In today's markets, companies operate in dynamic environments characterized by rapid changes, complexity, and uncertainty. For these companies, especially startups that are based on fast-growing, high technology, and innovative approaches to create new markets or offer superior solutions in existing markets, marketing management presents one of the most significant challenges for entrepreneurs. This study aims to address this challenge by developing a practical framework based on the theory of dynamic capabilities (DCs) and market orientation (MO). The objective is to build long-term competitive advantages for startups operating in dynamic environments. A theoretical model was built using a systematic literature review, and this was later refined through longitudinal case studies of brazilian startups. The result is a robust framework that supports both literature and entrepreneurs. It assists in the identification and exploitation of market opportunities by leveraging DCs and MO. Furthermore, it supports decision-making processes aimed at achieving sustainable competitive advantages. The framework also encourages entrepreneurs to reflect on their practices related to the dimensions of these constructs.

Rethinking innovation through industry and society 5.0 paradigms: a multileveled approach for management and policy-making

PurposeIndustry 4.0 defines the application of digital technologies on business infrastructure and processes. With the increasing need to take into account the social and environmental impact of technologies, the concept of Society 5.0 has been proposed to restore the centrality of humans in the proper utilization of technology for the exploitation of innovation opportunities. Despite the identification of humans, resilience and sustainability as the key dimensions of Society 5.0, the definition of the key factors that can enable Innovation in the light of 5.0 principles has not been yet assessed.Design/methodology/approach An SLR, followed by a content analysis of results and a clustering of the main topics, is performed to (1) identify the key domains and dimensions of the Industry 5.0 paradigm; (2) understand their impact on Innovation 5.0; (3) discuss and reflect on the resulting implications for research, managerial practices and the policy-making process.Findings The findings allow the elaboration of a multileveled framework to redefine Innovation through the 5.0 paradigm by advancing the need to integrate ICT and technology (Industry 5.0) with the human-centric, social and knowledge-based dimensions (Society 5.0).Originality/value The study detects guidelines for managers, entrepreneurs and policy-makers in the adoption of effective strategies to promote human resources and knowledge management for the attainment of multiple innovation outcomes (from technological to data-driven and societal innovation).

Social and economic system of regional entrepreneurship as the object of strategizing

To realize the potential of regional entrepreneurship as a system of small and medium-sized enterprises (SMEs) of the region it is essential to develop a successful winning strategy oriented towards rapid exploitation of new opportunities. To this end, it is necessary to clarify the essence, boundaries, structure, and functions of the object of strategizing. The research is based on the general theory of strategy and methodology of strategizing, the theories of entrepreneurship, the systematic approach. The authors study approaches and theories that explain the essence, the functions and the structure of the system of regional entrepreneurship by applying systematization and content analysis methods. While analyzing the theories of entrepreneurship four components of the strategic mission of SMEs have been defined as follows: providing guarantees to partners, movement and productive use of factors of production, implementation of innovation, creation of gazelle companies (with the average annual increase in revenue or employment of more than 20% over 3 years). The study has shown that they are not fully implemented, and so the situation requires developing a new strategy or improving the old one. And the strategy of development of entrepreneurship in the region should contribute to the implementation of higher-level strategies (regional and sectoral). Moreover, the strategy should define the basic policies for strategizing the components of regional entrepreneurship – individual enterprises, clusters, different types of activities. The study offers a structural and logical scheme of relationship of the strategy of development of regional entrepreneurship (on the example of Kemerovo region – Kuzbass) with other strategic planning documents. Also, the authors justify the expediency of differentiation of strategic priorities of traditional and innovative entrepreneurship in the region. The analysis of theoretical foundations of exploring entrepreneurship as the object of strategizing has made it possible to clarify the basic components of its mission and justify the place of the corresponding strategy in the general system of strategic planning documents. Clarification of the boundaries and the content of the system under study ensures moving on to the strategic OTSW-analysis. The findings of the study can be used in justification of strategic decisions of entrepreneurs and regional authorities.