Recognizing new opportunities and innovations

Abstract

The electronic marketplace will necessitate alternative entrepreneurship models. As more organizations enter the arena of electronic commerce, research is needed to examine how entrepreneurs effectively design and integrate new business models and practices in their organizations. The purpose of this paper was to examine the targeted role that organizational strategy has in assisting entrepreneurial firms identify and evaluate new opportunities and ideas for their businesses. We also investigate the role of the entrepreneur’s personality (e.g. proactive personality) in influencing how the entrepreneurial firm implements product/service innovations, builds an external business network, and cultivates employee relationships. Implications for the strategic management of innovation in emerging Internet entrepreneurial firms are discussed.

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