Opportunity Recognition/Identification

This chapter looks into opportunity identification/recognition in the process of social value creation. Opportunity recognition emerged as a process rather than a one-time action, which in turn involved a series of actions. Considering the fact that the contextual factors play an important role in the process of social value creation, this chapter explores the values and beliefs of the social entrepreneurs, and their different contextual backgrounds. Then, it explores the influence of these contextual differences on identifying/recognising opportunities by social entrepreneurs. The cases showed that social entrepreneurs identified opportunities in different ways, yet many similar patterns emerged out of the cross-case analysis. Based on the findings, two propositions have been developed, and finally, opportunity recognition in social entrepreneurship has been presented in a figure. The study showed that social entrepreneurs pursued opportunities to achieve their social mission, that is, to solve social problems and create social value. The cases showed that opportunity recognition/identification and exploitation involved a series of actions. Hence, it emerged as a process rather than a one-time action. Considering the fact that the contextual factors play a very important role in the process of social value creation, this chapter focuses on the values and beliefs of social entrepreneurs, the different contextual backgrounds (their family and social backgrounds, relationships, educational and professional backgrounds, work experiences and past experiences). Then, it explores the influence of these contextual differences on identifying/recognising opportunities by social entrepreneurs. The cases showed that social entrepreneurs identified opportunities in different ways, yet many similar patterns emerged out of cross-case analysis.