Temporal Dimensions of Opportunistic Change in Technology-Based Ventures

Abstract

Opportunity recognition and opportunity-directed behavior are at the core of entrepreneurial efforts in both new and existing ventures. This study examines characteristics and behaviors related to future time orientation and their association with the pursuit of entrepreneurial opportunity. We find that strategic change in young technology-based ventures is associated with top management teams who are perceived as being more future-oriented. Communication patterns linking future- and present-oriented managers are also associated with strategic change. The findings of this empirical study indicate that technology-based ventures should place substantial emphasis on identifying, embracing, and widely communicating ideas that challenge the status quo. Out of this process the entrepreneurial approach is reinvigorated with new opportunities for proactive strategic change and growth. Ways in which new venture management may take steps to recognize and move proactively on emerging new opportunities are suggested.

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