Opportunities and Prior Knowledge: A Study of Experienced Entrepreneurs

14 Pages Posted: 28 Feb 2011

See all articles by Gry Agnete Alsos

Gry Agnete Alsos

University of Nordland - Nord University Business School

Virpi Kaikkonen

Kajaani University of Applied Sciences

Date Written: 2006

Abstract

This study investigates how opportunity generation is related to the prior knowledge base of experienced entrepreneurs. The paper explores how prior knowledge is used in the process of opportunity generation and whether this varies dependent on how opportunities come into existence. Opportunities may be the result of serendipity or deliberate search, and may be (objectively) discovered or (subjectively) created. Combining these two axes gave four types of processes: opportunity discovery, opportunity search, opportunity creation, and opportunity occurrence. Based on interviews of farm-based entrepreneurs in Finland and Norway, it is detected that different processes of opportunity generation related to the situations of the entrepreneurs, their former experiences, and their social networks.

Keywords: Entrepreneurship

JEL Classification: M13

Suggested Citation

Alsos, Gry Agnete and Kaikkonen, Virpi, Opportunities and Prior Knowledge: A Study of Experienced Entrepreneurs (2006). Babson College, Babson Kauffman Entrepreneurship Research Conference (BKERC), 2002-2006. Available at SSRN: https://ssrn.com/abstract=1768092

Gry Agnete Alsos (Contact Author)

University of Nordland - Nord University Business School ( email )

Bodø, 8049
Norway

Virpi Kaikkonen

Kajaani University of Applied Sciences ( email )

Finland

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