Session 7.  Opportunity Recognition & Creation Theory Prof. Dr. Bernhard Katzy Winter 2011
Video <ul><li>The World is Flat by Thomas Friedman </li></ul><ul><li>http://www.youtube.com/watch?v=53vLQnuV9FY </li></ul>...
Opportunity Recognition/1 Identification <ul><li>Opportunity </li></ul><ul><li>Identify needs & solutions (preferably ‘mus...
Opportunity Recognition/2 Equilibrium model Prof. Dr. B. Katzy 28/02/2011 Supply and Demand Curve
Opportunity Recognition/3  Eckhardt and Shane (2003) <ul><li>The role of opportunities in the entrepreneurial process and ...
Opportunity Recognition/4 Perfect Information <ul><li>Every agent has perfect information all the time </li></ul><ul><li>W...
Opportunity Recognition/5  Categories <ul><li>Exploiting opportunity by entrepreneurs - transfer information  to others ab...
Opportunity Recognition/6 Innovation <ul><li>Production and technology curves </li></ul>Prof. Dr. B. Katzy 28/02/2011
Opportunity Recognition/7 Globalization <ul><li>Ansoff Matrix </li></ul>Prof. Dr. B. Katzy 28/02/2011 [Ansoff, 1965]
Papers referred to in this lecture <ul><li>Ansoff, H.I. (1965). Corporate Strategy: An Analytic Approach to Business Polic...
Readings for Session 8 <ul><li>Article 22. Dynamic capabilities and strategic management </li></ul><ul><li>Article 36. Cre...
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Session07 opportunity recognition

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  • © CeTIM gGmbH
  • © CeTIM gGmbH
  • © CeTIM gGmbH
  • © CeTIM gGmbH
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  • Session07 opportunity recognition

    1. 1. Session 7. Opportunity Recognition & Creation Theory Prof. Dr. Bernhard Katzy Winter 2011
    2. 2. Video <ul><li>The World is Flat by Thomas Friedman </li></ul><ul><li>http://www.youtube.com/watch?v=53vLQnuV9FY </li></ul>Prof. Dr. B. Katzy 28/02/2011
    3. 3. Opportunity Recognition/1 Identification <ul><li>Opportunity </li></ul><ul><li>Identify needs & solutions (preferably ‘must have’ solution) </li></ul><ul><li>Act upon opportunity </li></ul><ul><li>Acquire resources (technology/product/service, people, finances ) to create value based on the opportunity </li></ul><ul><li>Implication for theory </li></ul><ul><li>Why only some recognize opportunities? Where do opportunities come from? Are there different modes of acting upon opportunities? </li></ul>Prof. Dr. B. Katzy 28/02/2011
    4. 4. Opportunity Recognition/2 Equilibrium model Prof. Dr. B. Katzy 28/02/2011 Supply and Demand Curve
    5. 5. Opportunity Recognition/3 Eckhardt and Shane (2003) <ul><li>The role of opportunities in the entrepreneurial process and the importance of examining entrepreneurship through opportunities </li></ul><ul><li>Equilibrium assumption is ‘problematic’ in the context of entrepreneurship, yet much of the research assumes equilibrium orientation </li></ul><ul><li>Entrepreneurial opportunity defined: </li></ul><ul><li>“ situations in which new goods, services, raw materials, markets and organizing methods can be introduced through the formation of new means, ends, or mean-ends relationships”... ”have the potential to alter the term economic exchange” ...”the entrepreneur constructs the means, ends or both” </li></ul>Prof. Dr. B. Katzy 28/02/2011
    6. 6. Opportunity Recognition/4 Perfect Information <ul><li>Every agent has perfect information all the time </li></ul><ul><li>Will choose the best products to produce and/or buy </li></ul><ul><li>Will make the best decisions </li></ul><ul><li>Markets converge to equilibrium point </li></ul>Prof. Dr. B. Katzy 28/02/2011
    7. 7. Opportunity Recognition/5 Categories <ul><li>Exploiting opportunity by entrepreneurs - transfer information to others about the opportunity and how to exploit it </li></ul><ul><li>Categorization of types of opportunity by: </li></ul><ul><li>Locus of change that generates the opportunity (product, service, technology,market) </li></ul><ul><li>Source of opportunity (information asymmetry, supply vs. demand change, exogenous change like new technology or regulation and legislation) </li></ul>Prof. Dr. B. Katzy 28/02/2011
    8. 8. Opportunity Recognition/6 Innovation <ul><li>Production and technology curves </li></ul>Prof. Dr. B. Katzy 28/02/2011
    9. 9. Opportunity Recognition/7 Globalization <ul><li>Ansoff Matrix </li></ul>Prof. Dr. B. Katzy 28/02/2011 [Ansoff, 1965]
    10. 10. Papers referred to in this lecture <ul><li>Ansoff, H.I. (1965). Corporate Strategy: An Analytic Approach to Business Policy for Growth and Expansion. New York: McGraw-Hill </li></ul>Prof. Dr. B. Katzy 28/02/2011
    11. 11. Readings for Session 8 <ul><li>Article 22. Dynamic capabilities and strategic management </li></ul><ul><li>Article 36. Creating new ventures from Bell labs technologies </li></ul>Prof. Dr. B. Katzy 28/02/2011

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