Despite numerous research studies the theme of ‘Why, when and how some people (entrepreneurs) and not others discover, evaluate and exploit entrepreneurial opportunities?’ still needs intensive inquiry. Entrepreneurial performance is influenced by both intrinsic individual and extrinsic environment factors. Earlier research indicates that a wide range of motives, personal traits, psychological characteristics and self-efficacy components influence the attitudes, intentions and behaviours of entrepreneurs. However, despite existence of favourable factors, a potential entrepreneur might decide not to exploit entrepreneurial opportunity; certain people act differently from others in exactly the same situation. Earlier researchers, while using a variety of lenses, suggested a variety of frameworks and countless propositions. Despite, the unified, comprehensive, and largely acceptable conceptualizations could not be evolved so far. In such a situation, more efforts in the direction of making an extensive review or meta-analysis and developing a more unified conceptualization are required. Here, a genuine attempt has been made to synthesize the outcomes of the surfeit of earlier researches so as to present the emerging hypothesized propositions and a simple framework of entrepreneurship and entrepreneurial competencies. The outcomes of such an attempt provide a concrete base for more meaningful and useful further research as well as for setting up an agenda of entrepreneurial training for the future.
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