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Entrepreneurship and Innovation: The Antecedents of Opportunity

Tina Phiri and Brian Barnard
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Tina Phiri: Wits Business School, University of the Witwatersrand (WITS), South Africa
Brian Barnard: Wits Business School, University of the Witwatersrand, South Africa

Expert Journal of Business and Management, 2018, vol. 6, issue 1, 61-81

Abstract: The study examines the antecedents of opportunity in greater detail. A literature review highlights 9 antecedents of opportunity, and it was further investigated how these factors impact opportunity recognition. Some of the leading antecedents of opportunity were: solving problems, goals and aspirations, artistic creativity, adoption and networking. None of the antecedents by themselves are sufficient for innovation, as each has a caveat that may also hinder innovation. Also, it is evident that a number of the antecedents may offer unique solutions and benefits, including the acceleration of the identification of ideas and opportunities. In certain contexts, one antecedent may be more applicable or beneficial than another. Each antecedent potentially offers and allows expert areas of innovation, with innovators becoming very experienced in a particular antecedent as an area of innovation. Consequently, the innovator may continually gravitate towards a certain antecedent. A number of themes common to the antecedents suggest that there may be a number of principal factors underlying the antecedents studied. Underlying all the antecedents may be the need to cross boundaries of the acceptable, or rather boundaries of the possible. Innovation may equally be defined as crossing the boundaries of what is possible, whilst still yielding outcomes that are desirable. The primary factors expected to underlie the antecedents are: 1) perspective, 2) knowledge, and 3) first person experience (sensing, interpreting). There may be a link between the expertise of the innovator, and antecedent use. Antecedents considered by innovators may shape and define the type and nature of innovation taking place in a sovereign.

JEL-codes: O30 L26 (search for similar items in EconPapers)
Date: 2018
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