Authors: E. Shaunn Mattingly; Garrett A. McBrayer
Addresses: Department of Management, College of Business and Economics, Boise State University, 1910 W. University Drive, Boise, ID 83725, USA ' Department of Finance, College of Business and Economics, Boise State University, 1910 W. University Drive, Boise, ID 83725, USA
Abstract: Business models as outcomes for entrepreneurship are increasing in prevalence in pedagogy and practice. Instructors and entrepreneurs are focusing efforts on iterating potential ideas through a process of trial and error in hopes to produce working business models. However, such practices need to be better underpinned by theory so we can develop an understanding of how to identify more valuable opportunity ideas and how to progress them towards working business models with fewer trials and errors. This conceptual paper focuses on integrating extant conceptualisations of business models as interdependent activities with research on identifying opportunities as problem-solution pairings. While integrating those literatures, the present framework also details how reliance on constrained, systematic search - with its resource-based view underpinnings - can help individuals with entrepreneurial aspirations identify more valuable opportunities and progress them faster and with fewer trials and errors into working business models.
Keywords: recombination; entrepreneurship; systematic search; knowledge; business model.
International Journal of Entrepreneurship and Small Business, 2022 Vol.45 No.1, pp.97 - 117
Received: 03 May 2018
Accepted: 30 Apr 2019
Published online: 11 Jan 2022 *