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Entrepreneurial Success within the Process of Opportunity Recognition and Exploitation: An Expansion of Entrepreneurial Opportunity Recognition Model

Author

Listed:
  • Kabir Shamudeen

    (School of Business Management, College of Business, Universiti Utara Malaysia, Malaysia,)

  • Kabir Shamudeen

    (Economic Department, Shehu Shagari College of Education, Sokoto, Sokoto State, Nigeria,)

  • Ooi Yeng Keat

    (School of Business Management, College of Business, Universiti Utara Malaysia, Malaysia,)

  • Hazlinda Hassan

    (School of Business Management, College of Business, Universiti Utara Malaysia, Malaysia.)

Abstract

The purpose of this paper is to expand upon existing entrepreneurial opportunity recognition model (EORM) that builds on the existing theoretical literature, utilises the Dubin’s theory-building framework. It identifies entrepreneurial awareness and viable business plan as the determinant of entrepreneurial success within the process opportunity recognition (OR) and exploitation. Entrepreneurial awareness is the central component of OR process. Entrepreneurial awareness and viable business plan, are the basic condition for the success of the OR and exploitation process which in turn yielding a successful entrepreneurial outcome. A proposed conceptual model, a set of propositions, and suggestions for further research are provided.

Suggested Citation

  • Kabir Shamudeen & Kabir Shamudeen & Ooi Yeng Keat & Hazlinda Hassan, 2017. "Entrepreneurial Success within the Process of Opportunity Recognition and Exploitation: An Expansion of Entrepreneurial Opportunity Recognition Model," International Review of Management and Marketing, Econjournals, vol. 7(1), pages 107-111.
    • Handle: RePEc:eco:journ3:2017-01-14
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    Citations

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    Cited by:

    1. Atzmon, Morane Batya & Vanderstraeten, Johanna & Albers, Sascha, 2022. "Small-firm growth-enabling capabilities: A framework for young technology-based firms," Technovation, Elsevier, vol. 117(C).
    2. Taleb S. T. Taleb & Norashidah Hashim & Norria Zakaria, 2023. "Entrepreneurial Leadership and Entrepreneurial Success: The Mediating Role of Entrepreneurial Opportunity Recognition and Innovation Capability," Sustainability, MDPI, vol. 15(7), pages 1-17, March.
    3. Chao Wang & Xiu-e Zhang, 2022. "Binary effects of exploratory and exploitative learning on opportunity identification: The different moderations of environmental munificence and entrepreneurial commitment," Asian Business & Management, Palgrave Macmillan, vol. 21(4), pages 497-524, September.
    4. Longret Geoffrey Shikpup & Reuel Johnmark Dakung & Monica C. Gajere, 2022. "Founder Role Identity Strategy, Entrepreneurial Attitude and Entrepreneurial Proclivity among Potential Retirees in Plateau State," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(3), pages 15-22, March.
    5. Mohammed Abualreesh & Rohana Ngah & Mohd Ali Bahari Abdul Kadir, 2023. "The Mediating Effect of Entrepreneurial Self-Efficacy between Business Incubator Funding and Business Success: A Conceptual Paper," Information Management and Business Review, AMH International, vol. 15(4), pages 404-410.
    6. Ida Ketut Kusumawijaya, 2019. "Predicting the Unseen: Entrepreneurial Opportunity on Entrepreneurial Intention," International Review of Management and Marketing, Econjournals, vol. 9(5), pages 141-149.

    More about this item

    Keywords

    Entrepreneurial Awareness; Viable Business Plan; Opportunity Recognition; Exploitation Process Model;
    All these keywords.

    JEL classification:

    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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