Prototype models of opportunity recognition and the decision to launch a new venture: identifying the basic dimensions
Autor(a) principal: | |
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Data de Publicação: | 2015 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10071/13292 |
Resumo: | Purpose – The purpose of this paper is to obtain evidence concerning the basic dimensions included in cognitive prototypes pertaining to opportunity recognition and decision to launch a new venture; identifying the underlying dimensions of both prototypes – the cognitive frameworks current or nascent entrepreneurs employ in performing these important tasks. Design/methodology/approach – The bi-dimensional models were tested in a sample of 284 founder entrepreneurs, using a 48-item questionnaire. It was used as structural equation confirmatory factor analysis to compare fit indices of uni-dimensional second-order and third-order bi-dimensional models of business opportunity and decision to launch a venture. Findings – Results support the bi-dimensional models and offer support that both prototypes include two basic dimensions. For the business opportunity prototype these are viability and distinctiveness while for the decision to launch a new venture, the basic dimensions are feasibility and motivational aspects. Research limitations/implications – These results help to further clarify the nature of the cognitive frameworks individuals use to identify potential opportunities and reach an initial decision about whether to pursue their development. Uncovering the cognitive functioning of opportunity recognition and decision to exploit it, allow individuals to recognize opportunities easier and successfully; and to make more accurate and effective decisions. Practical implications – Knowing the basic dimensions of opportunity and decision-making prototypes contributes to develop effective skills with respect to business opportunity recognition among students enrolled in entrepreneurship programs. These surveys can be used for self-assessment and also for investors, tutors, and entrepreneurship agents in order to help evaluate features of business opportunities and decision to launch a venture. Originality/value – This study embraces a conceptual contribution, proposing a different model of the business opportunity and decision to exploit prototypes, and it extends Baron and Ensley (2006) previous work, to another important step in the entrepreneurial process – the decision to develop an identified opportunity through the launch of a new venture. |
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Prototype models of opportunity recognition and the decision to launch a new venture: identifying the basic dimensionsBusiness opportunitiesCognitive processesDecision to launch a venturePrototypes feature organizationPurpose – The purpose of this paper is to obtain evidence concerning the basic dimensions included in cognitive prototypes pertaining to opportunity recognition and decision to launch a new venture; identifying the underlying dimensions of both prototypes – the cognitive frameworks current or nascent entrepreneurs employ in performing these important tasks. Design/methodology/approach – The bi-dimensional models were tested in a sample of 284 founder entrepreneurs, using a 48-item questionnaire. It was used as structural equation confirmatory factor analysis to compare fit indices of uni-dimensional second-order and third-order bi-dimensional models of business opportunity and decision to launch a venture. Findings – Results support the bi-dimensional models and offer support that both prototypes include two basic dimensions. For the business opportunity prototype these are viability and distinctiveness while for the decision to launch a new venture, the basic dimensions are feasibility and motivational aspects. Research limitations/implications – These results help to further clarify the nature of the cognitive frameworks individuals use to identify potential opportunities and reach an initial decision about whether to pursue their development. Uncovering the cognitive functioning of opportunity recognition and decision to exploit it, allow individuals to recognize opportunities easier and successfully; and to make more accurate and effective decisions. Practical implications – Knowing the basic dimensions of opportunity and decision-making prototypes contributes to develop effective skills with respect to business opportunity recognition among students enrolled in entrepreneurship programs. These surveys can be used for self-assessment and also for investors, tutors, and entrepreneurship agents in order to help evaluate features of business opportunities and decision to launch a venture. Originality/value – This study embraces a conceptual contribution, proposing a different model of the business opportunity and decision to exploit prototypes, and it extends Baron and Ensley (2006) previous work, to another important step in the entrepreneurial process – the decision to develop an identified opportunity through the launch of a new venture.Emerald2017-05-11T09:44:09Z2015-01-01T00:00:00Z20152019-05-13T17:21:34Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10071/13292eng1355-255410.1108/IJEBR-04-2014-0058Santos, S. C.Caetano, A.Baron, R.Curral, L.info:eu-repo/semantics/embargoedAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:58:08Zoai:repositorio.iscte-iul.pt:10071/13292Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:30:11.592889Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Prototype models of opportunity recognition and the decision to launch a new venture: identifying the basic dimensions |
title |
Prototype models of opportunity recognition and the decision to launch a new venture: identifying the basic dimensions |
spellingShingle |
Prototype models of opportunity recognition and the decision to launch a new venture: identifying the basic dimensions Santos, S. C. Business opportunities Cognitive processes Decision to launch a venture Prototypes feature organization |
title_short |
Prototype models of opportunity recognition and the decision to launch a new venture: identifying the basic dimensions |
title_full |
Prototype models of opportunity recognition and the decision to launch a new venture: identifying the basic dimensions |
title_fullStr |
Prototype models of opportunity recognition and the decision to launch a new venture: identifying the basic dimensions |
title_full_unstemmed |
Prototype models of opportunity recognition and the decision to launch a new venture: identifying the basic dimensions |
title_sort |
Prototype models of opportunity recognition and the decision to launch a new venture: identifying the basic dimensions |
author |
Santos, S. C. |
author_facet |
Santos, S. C. Caetano, A. Baron, R. Curral, L. |
author_role |
author |
author2 |
Caetano, A. Baron, R. Curral, L. |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Santos, S. C. Caetano, A. Baron, R. Curral, L. |
dc.subject.por.fl_str_mv |
Business opportunities Cognitive processes Decision to launch a venture Prototypes feature organization |
topic |
Business opportunities Cognitive processes Decision to launch a venture Prototypes feature organization |
description |
Purpose – The purpose of this paper is to obtain evidence concerning the basic dimensions included in cognitive prototypes pertaining to opportunity recognition and decision to launch a new venture; identifying the underlying dimensions of both prototypes – the cognitive frameworks current or nascent entrepreneurs employ in performing these important tasks. Design/methodology/approach – The bi-dimensional models were tested in a sample of 284 founder entrepreneurs, using a 48-item questionnaire. It was used as structural equation confirmatory factor analysis to compare fit indices of uni-dimensional second-order and third-order bi-dimensional models of business opportunity and decision to launch a venture. Findings – Results support the bi-dimensional models and offer support that both prototypes include two basic dimensions. For the business opportunity prototype these are viability and distinctiveness while for the decision to launch a new venture, the basic dimensions are feasibility and motivational aspects. Research limitations/implications – These results help to further clarify the nature of the cognitive frameworks individuals use to identify potential opportunities and reach an initial decision about whether to pursue their development. Uncovering the cognitive functioning of opportunity recognition and decision to exploit it, allow individuals to recognize opportunities easier and successfully; and to make more accurate and effective decisions. Practical implications – Knowing the basic dimensions of opportunity and decision-making prototypes contributes to develop effective skills with respect to business opportunity recognition among students enrolled in entrepreneurship programs. These surveys can be used for self-assessment and also for investors, tutors, and entrepreneurship agents in order to help evaluate features of business opportunities and decision to launch a venture. Originality/value – This study embraces a conceptual contribution, proposing a different model of the business opportunity and decision to exploit prototypes, and it extends Baron and Ensley (2006) previous work, to another important step in the entrepreneurial process – the decision to develop an identified opportunity through the launch of a new venture. |
publishDate |
2015 |
dc.date.none.fl_str_mv |
2015-01-01T00:00:00Z 2015 2017-05-11T09:44:09Z 2019-05-13T17:21:34Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10071/13292 |
url |
http://hdl.handle.net/10071/13292 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
1355-2554 10.1108/IJEBR-04-2014-0058 |
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info:eu-repo/semantics/embargoedAccess |
eu_rights_str_mv |
embargoedAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Emerald |
publisher.none.fl_str_mv |
Emerald |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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