The process of entrepreneurial opportunity creation and exploration

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Rezaei Mirghaed Mohsen

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Journal Paper

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Journal: JOURNAL OF ENTREPRENEURSHIP DEVELOPMENT Year:2015 | Volume:8 | Issue:2 Page(s): 215-231

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Information Journal Paper

Title

The process of entrepreneurial opportunity creation and exploration

Author(s)

Rezaei Mirghaed Mohsen | Issue Writer Certificate

Keywords

economic processQ2

entrepreneurshipQ2

innovationQ2

value creationQ1

Abstract

Despite a wide range of studies performed in the field of entrepreneurship theories, few studies have offered a pervasive conceptual model or a general consensus of the existing theories. Hence, this paper attempts to extend a comprehensive principle on entrepreneurship. In general, there are two common interpretations of the term ‘ entrepreneurship’ . One of the common views is Schumpeterian, emphasizing on ideas, innovation and creativity. Another is Kirznerian, focusing on entrepreneurial opportunity exploration in the market process. Neither of these views is substitutable for the other, and each would just analyze special conditions of the economy and the market. The present paper judges both viewpoints to be proper in special circumstances. In fact, there can be a comprehensive principle involving a combination of both interpretations. With this perspective, entrepreneurship theory gets closer to economics. More precisely, entrepreneurship is a change in the economic process; that is, a general entrepreneurial process is transition from one equilibrium state to another, and value is created as the outcome of this transition. Consequently, when it comes to value creation, entrepreneurship meets both conditions including Kirznerian entrepreneurial exploration coupled with Schumpeterian innovation and creativity. To put it differently, any change in economic process can lead to value creation, and entrepreneurship consists of changes in economic process.

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APA: Copy

Rezaei Mirghaed, Mohsen. (2015). The process of entrepreneurial opportunity creation and exploration. JOURNAL OF ENTREPRENEURSHIP DEVELOPMENT, 8(2 ), 215-231. SID. https://sid.ir/paper/131264/en

Vancouver: Copy

Rezaei Mirghaed Mohsen. The process of entrepreneurial opportunity creation and exploration. JOURNAL OF ENTREPRENEURSHIP DEVELOPMENT[Internet]. 2015;8(2 ):215-231. Available from: https://sid.ir/paper/131264/en

IEEE: Copy

Mohsen Rezaei Mirghaed, “The process of entrepreneurial opportunity creation and exploration,” JOURNAL OF ENTREPRENEURSHIP DEVELOPMENT, vol. 8, no. 2 , pp. 215–231, 2015, [Online]. Available: https://sid.ir/paper/131264/en

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