Chapter2004

THE IMPACT OF ENTREPRENEURIAL EXPERIENCE ON OPPORTUNITY IDENTIFICATION AND EXPLOITATION: HABITUAL AND NOVICE ENTREPRENEURS

Deniz Ucbasaran · Mike Wright · Paul Westhead · Lowell W. Busenitz

78 citations0/0 files storedAdvances in entrepreneurship, firm emergence, and growth

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Entrepreneurship Studies and Influences Innovation and Knowledge Management Migration, Ethnicity, and Economy

Abstract

Evidence suggests habitual entrepreneurs (i.e. those with prior business ownership experience) are a widespread phenomenon. Appreciation of the existence of multiple entrepreneurial acts gives rise to the need to examine differences between habitual and novice entrepreneurs (i.e. those with no prior business experience as a founder, inheritor or purchaser of a business). This paper synthesizes human capital and cognitive perspectives to highlight behavioral differences between habitual and novice entrepreneurs. Issues relating to opportunity identification and information search, opportunity exploitation and learning are discussed. Avenues for future research are highlighted.

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References

1991Firm Resources and Sustained Competitive Advantage 2004Firm resources and sustained competitive advantage 1983Experiential Learning : Experience as the Source of Learning and Development 1974Judgment under Uncertainty: Heuristics and Biases 2000The Promise of Entrepreneurship as a Field of Research 1958The Psychology of Interpersonal Relations.1984Research in Organizational Behavior 1996Clarifying the Entrepreneurial Orientation Construct and Linking It To Performance

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