TY - JOUR

T1 - The Production of Entrepreneurial Opportunity

T2 - A Constructivist Perspective

AU - McKinley, William

AU - Wood, Matthew

PY - 2010/3

Y1 - 2010/3

N2 - This article presents a conceptual model of entrepreneurial opportunity production from a constructivist perspective. The model assumes that opportunity production proceeds through several stages, including conceptualization of an opportunity idea by an entrepreneur, objectification of that idea, and enactment of the opportunity into a new venture. However, not all opportunity ideas survive this full process. Between the conceptualization stage and the objectification stage, some ideas are abandoned due to inadequate objectification. Also, between the objectification stage and the enactment stage, some objectified opportunities are abandoned due to insufficient resource support. We identify variables that influence the likelihood that opportunity ideas will be objectified and other variables that influence the likelihood that objectified opportunities will be enacted, and these variables are incorporated into empirically testable propositions. In the discussion section, we describe several boundary conditions for our theory, contrast the theory with objectivist (discovery) theory, and derive implications for future research. Copyright © 2010 Strategic Management Society.

AB - This article presents a conceptual model of entrepreneurial opportunity production from a constructivist perspective. The model assumes that opportunity production proceeds through several stages, including conceptualization of an opportunity idea by an entrepreneur, objectification of that idea, and enactment of the opportunity into a new venture. However, not all opportunity ideas survive this full process. Between the conceptualization stage and the objectification stage, some ideas are abandoned due to inadequate objectification. Also, between the objectification stage and the enactment stage, some objectified opportunities are abandoned due to insufficient resource support. We identify variables that influence the likelihood that opportunity ideas will be objectified and other variables that influence the likelihood that objectified opportunities will be enacted, and these variables are incorporated into empirically testable propositions. In the discussion section, we describe several boundary conditions for our theory, contrast the theory with objectivist (discovery) theory, and derive implications for future research. Copyright © 2010 Strategic Management Society.

KW - Entrepreneurship

KW - entrepreneurial opportinity

KW - creation

KW - constructivism

KW - objectification

KW - enactment

KW - Abandonment

U2 - 10.1002/sej.83

DO - 10.1002/sej.83

M3 - Journal articles

VL - 4

SP - 66

EP - 84

JO - Strategic Entrepreneurship Journal

JF - Strategic Entrepreneurship Journal

SN - 1932-4391

IS - 1

ER -