Entrepreneurial opportunities in the individual–opportunity nexus

Authored by: Jonathan T. Eckhardt

The Routledge Companion to Entrepreneurship

Print publication date:  September  2014
Online publication date:  September  2014

Print ISBN: 9780415631761
eBook ISBN: 9780203096512
Adobe ISBN: 9781136218620

10.4324/9780203096512.ch26

 Download Chapter

 

Abstract

In an early attempt to define the field of entrepreneurship, Venkataraman (1997) postulated that the study of entrepreneurial opportunities ought to be as important as the study of the characteristics of entrepreneurs themselves. The importance of opportunities was further emphasized by Shane and Venkataraman (2000), Eckhardt and Shane (2003) and Shane (2003) in the development of the individual–opportunity (I–O) nexus. The I–O nexus describes entrepreneurship as a process that is driven by the interaction of enterprising individuals and opportunities (Shane and Venkataraman 2000). The I–O nexus delineates the events in the entrepreneurial process into several distinct components: (1) the discovery; (2) the evaluation; and (3) exploitation of entrepreneurial opportunities. With an emphasis on treating the opportunity as distinct from the entrepreneur, the I–O nexus represents a departure from other theoretical treatments of entrepreneurship (Ireland and Webb 2007). In doing so, the I–O nexus provides a concise but comprehensive framework under which to study the processes of how and why new goods and services are introduced into markets.

 Cite
Search for more...
Back to top

Use of cookies on this website

We are using cookies to provide statistics that help us give you the best experience of our site. You can find out more in our Privacy Policy. By continuing to use the site you are agreeing to our use of cookies.