Title: The conceptualisation of 'opportunity' in strategic management research

Authors: Rainer Harms, Anja Schulz, Sascha Kraus, Matthias Fink

Addresses: University of Twente, Nikos, Dutch Institute for Knowledge Intensive Entrepreneurship, Postbus 217, 7500 AE Enschede, The Netherlands. ' Technical University of Dortmund, Vogelpothsweg 87, D-44221 Dortmund, Germany. ' University of Liechtenstein, Fürst-Franz-Josef-Strasse, LI-9490 Vaduz, Liechtenstein. ' Vienna University of Economics and Business Administration, Institute for Small Business Management and Entrepreneurship, RiCC, Augasse 2-6, A-1090 Vienna, Austria

Abstract: One of the pillars of entrepreneurship research is the concept of |opportunity|. The systematic search, exploration and/or creation of an opportunity are one of the main fields of interest and source of a vital research discussion. In the literature on strategic management, the term |opportunity| is also used extensively. Indeed, the concept that roughly describes favourable future conditions is fundamental to strategy making, as it is a key building block of the early stages of the strategy making process. The question arises whether the literature on strategic management treats this concept in a differentiated way. Based on an analysis of strategic management literature, we find that in strategic management research, an implicit understanding of opportunities prevails. This is deplorable, since strategy researchers and practitioners may profit from explicitly formulated concepts of opportunity.

Keywords: entrepreneurship; opportunity; strategic management.

DOI: 10.1504/IJEV.2009.023820

International Journal of Entrepreneurial Venturing, 2009 Vol.1 No.1, pp.57 - 71

Published online: 13 Mar 2009 *

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