Creation and Pursuit of Entrepreneurial Opportunities: An Evolutionary Economics Perspective

Guido Buenstorf

Small Business Economics, 2007, vol. 28, issue 4, 323-337

Abstract: Considerable debate surrounds the concept of entrepreneurial opportunities. This paper approaches the opportunity concept from an evolutionary market process perspective. It argues that new opportunities for entrepreneurial activity frequently emerge as by-products of market competition. Agents may deliberately or unwittingly create opportunities. Organizational development and the evolution of industries are additional sources of new entrepreneurial opportunities. At the same time, they enable agents to acquire the skills required to exploit these opportunities. Copyright Springer Science+Business Media, LLC 2007

Keywords: business conceptions; industry evolution; market process; opportunities; spin-offs; B25; D21; L10; L26; M13 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:kap:sbusec:v:28:y:2007:i:4:p:323-337

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DOI: 10.1007/s11187-006-9039-5

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