Publication Date

1-1-2024

Document Type

Article

Publication Title

Journal of Entrepreneurship and Innovation in Emerging Economies

DOI

10.1177/23939575241291297

Abstract

Understanding opportunity is a crucial aspect of entrepreneurship research. Existing studies have extensively examined individual factors in facilitating entrepreneurial activities such as new venture creation. Although there are some discussions on contextual factors, few connect context with the origin of entrepreneurship—opportunity. Recognising the objectivity of entrepreneurial opportunity, this theoretical article first proposes two types of opportunities—innovative opportunity and imitative opportunity—to understand the nature of opportunity. It then proposes a systematic framework—the PETII (Population, Economic status, Technological advancement, Industry life cycle, Institutions) model—to analyse the role of context in the distribution of opportunity. Furthermore, it examines how both objective contextual factors and subjective individual factors influence each of the three stages in the entrepreneurship opportunity theory, from opportunity discovery, to opportunity evaluation and to opportunity exploitation. The research helps understand the origin of entrepreneurship opportunities and can stimulate thoughts on how to encourage entrepreneurship in different places. Further discussions and implications are given at the end.

Keywords

context, Entrepreneurship, entrepreneurship theory, opportunity, PETII

Comments

This Accepted Manuscript is made available in accordance with the publisher’s sharing policy. It is protected by copyright and may be used for non-commercial purposes only. No modifications or derivative works are permitted. Users may download and save a local copy of this article for personal reference. For permission to reuse any part of this article, please follow the publisher’s Process for requesting permission.

Department

Global Innovation and Leadership

Download

Share

COinS