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Misgivings about dismantling the opportunity construct

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  • Wood, Matthew S.

Abstract

The concept of entrepreneurial opportunity has become a fundamental entity organizing entrepreneurship research. Recently, however, the validity of the construct has come into question with scholars noting definitional fragmentation as highly problematic and advocating for dismantling the construct in favor of replacement concepts. This paper articulates misgivings over this movement by identifying several stumbling blocks it creates for the future of entrepreneurship research. These realizations are followed by the notion that agreeing the construct is representationally valuable and accepting systematic variation in construct definition as a function of clarified conceptualizations of the process underpinning entrepreneurship is a more advantageous equilibrium state. Specific benefits associated with a move in this direction are identified.

Suggested Citation

  • Wood, Matthew S., 2017. "Misgivings about dismantling the opportunity construct," Journal of Business Venturing Insights, Elsevier, vol. 7(C), pages 21-25.
    • Handle: RePEc:eee:jobuve:v:7:y:2017:i:c:p:21-25
    DOI: 10.1016/j.jbvi.2017.01.001
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    References listed on IDEAS

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    1. W. Graham Astley & Raymond F. Zammuto, 1992. "Organization Science, Managers, and Language Games," Organization Science, INFORMS, vol. 3(4), pages 443-460, November.
    2. Matthew S. Wood & David W. Williams, 2014. "Opportunity Evaluation as Rule-Based Decision Making," Journal of Management Studies, Wiley Blackwell, vol. 51(4), pages 573-602, June.
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    6. Chandler, Gaylen N. & DeTienne, Dawn R. & McKelvie, Alexander & Mumford, Troy V., 2011. "Causation and effectuation processes: A validation study," Journal of Business Venturing, Elsevier, vol. 26(3), pages 375-390, May.
    7. Steven W. Floyd & Joep P. Cornelissen & Mike Wright & Andrew Delios, 2011. "Processes and Practices of Strategizing and Organizing: Review, Development, and the Role of Bridging and Umbrella Constructs," Journal of Management Studies, Wiley Blackwell, vol. 48, pages 933-952, July.
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    10. Davidsson, Per, 2015. "Entrepreneurial opportunities and the entrepreneurship nexus: A re-conceptualization," Journal of Business Venturing, Elsevier, vol. 30(5), pages 674-695.
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    Cited by:

    1. Frederiks, Arjan J. & Englis, Basil G. & Ehrenhard, Michel L. & Groen, Aard J., 2019. "Entrepreneurial cognition and the quality of new venture ideas: An experimental approach to comparing future-oriented cognitive processes," Journal of Business Venturing, Elsevier, vol. 34(2), pages 327-347.
    2. Fellnhofer, Katharina, 2022. "Entrepreneurial alertness toward responsible research and innovation: Digital technology makes the psychological heart of entrepreneurship pound," Technovation, Elsevier, vol. 118(C).
    3. Asante, Eric Adom & Affum-Osei, Emmanuel, 2019. "Entrepreneurship as a career choice: The impact of locus of control on aspiring entrepreneurs' opportunity recognition," Journal of Business Research, Elsevier, vol. 98(C), pages 227-235.
    4. Amir Emami & Shayegheh Ashourizadeh & Shima Sheikhi & Gadaf Rexhepi, 2022. "Entrepreneurial propensity for market analysis in the time of COVID-19: benefits from individual entrepreneurial orientation and opportunity confidence," Review of Managerial Science, Springer, vol. 16(8), pages 2413-2439, November.
    5. Wood, Matthew S., 2017. "Continued misgivings: A response to Davidsson on dismantling the opportunity construct," Journal of Business Venturing Insights, Elsevier, vol. 7(C), pages 77-81.
    6. Davidsson, Per, 2017. "Reflections on misgivings about “dismantling” the opportunity construct," Journal of Business Venturing Insights, Elsevier, vol. 7(C), pages 65-67.
    7. Davidsson, Per, 2017. "Opportunities, propensities, and misgivings: Some closing comments," Journal of Business Venturing Insights, Elsevier, vol. 8(C), pages 123-124.
    8. Ramoglou, Stratos, 2021. "Knowable opportunities in an unknowable future? On the epistemological paradoxes of entrepreneurship theory," Journal of Business Venturing, Elsevier, vol. 36(2).
    9. Gabriel A. Giménez Roche & Didier Calcei, 2021. "The role of demand routines in entrepreneurial judgment," Small Business Economics, Springer, vol. 56(1), pages 209-235, January.
    10. Ramoglou, Stratos & Tsang, Eric W.K., 2017. "Accepting the unknowables of entrepreneurship and overcoming philosophical obstacles to scientific progress," Journal of Business Venturing Insights, Elsevier, vol. 8(C), pages 71-77.
    11. Walsh, Christian & Knott, Paul & Collins, Jamie, 2020. "Emotional energy and opportunity confidence," Journal of Business Venturing Insights, Elsevier, vol. 13(C).
    12. Leunbach, Daniel, 2021. "Entrepreneurship as a family resemblance concept: A Wittgensteinian approach to the problem of defining entrepreneurship," Scandinavian Journal of Management, Elsevier, vol. 37(1).
    13. Pham, Dung & Jones, Paul & Dobson, Stephen & Liñán, Francisco & Viala, Céline, 2021. "Entrepreneurial implementation intention as a tool to moderate the stability of entrepreneurial goal intention: A sensemaking approach," Journal of Business Research, Elsevier, vol. 123(C), pages 97-105.
    14. Ramoglou, Stratos & Gartner, William B. & Tsang, Eric W.K., 2020. "“Who is an entrepreneur?” is (still) the wrong question," Journal of Business Venturing Insights, Elsevier, vol. 13(C).
    15. Chalmers, Dominic & Matthews, Russell & Hyslop, Amy, 2021. "Blockchain as an external enabler of new venture ideas: Digital entrepreneurs and the disintermediation of the global music industry," Journal of Business Research, Elsevier, vol. 125(C), pages 577-591.

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