Opportunity recognition


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  • scholars and consultants do come up with new models and insights, mostly based on case studies (Johnson & Scholes, 1993)
  • the phenomenon of entrepreneurship is studied. At the end of the last century, the field of study was more from the social science and psychology. After the work of Scott Shane (Shane & Venkataraman, 2000), which was the most quoted article of last decade, the research on entrepreneurship shifted toward behavior and economic (Shane, 2001). From several scholars it is known that entrepreneurs differ in attitude and proceedings from managers.
  • In the actual used business models the future is predicted, based on situations in the past (Ansoff, 1965). More recent studies show that business is unpredictable (e.g. (Christensen, 1997) and (Mintzberg, 1994)). First evidence of this was found by Saras Sarasvathy (Sarasvathy, 2001). She discovered that enterprising persons think different then managers. In her research, she asked 34 enterprising managers of successful ventures to solve a business problem, thinking aloud. From the transcripts of these sessions, a model of entrepreneurial thinking was build, known as effectuation
  • Business Management studies can benefit from entrepreneurship education methodologies.
  • Opportunity recognition

    1. 1. Kom verder. Saxion. How Business Management benefit from Entrepreneurship Opportunities recognition Matthijs Hammer Senior lecturer Entrepreneurship
    2. 2. Kom verder. Saxion. Evolution of Business models majority of the business management models stay unchanged. E.g.: •Abell (Abell &Hammond, 1979) •Deming (Deming, 1982) •Mc Gregor (McGregor, 1960) •Mintzberg (Mintzberg, 1979) •Porter (Porter, 1980)
    3. 3. Kom verder. Saxion. new ventures, small businesses and entrepreneurship are a major factor on economic growth (Ahmad & Seymour, 2008; Gries & Naudé, 2009; Schumpeter, 1934; Sijgers, Hammer, ter Horst, Nieuwenhuis, & van der Sijde, 2005; Thurik & Wennekers, 2004; Wennekers & Thurik, 1999). Evolution on economic development
    4. 4. Kom verder. Saxion. Example See possibilities Tackle opportunities Know where to find it. Successful application
    5. 5. Kom verder. Saxion. • 0 • 2 • 4 • 6 • 8 • 10 O.K. Not O.K. Item Figure PerceptionItem Figure Perception Data Knowledge Information Competent Behaviour Sense Innovative • 3 • 5 • 8 • 10 Source: N. Vloon, 2002 Can successful apply Successful application resulting in competitive advantage. Perception from industryPerception from industry
    6. 6. Kom verder. Saxion. Knowledge / Application ?Knowledge / Application ? CanKnow Weight in the curricula
    7. 7. Kom verder. Saxion. Principles of effectuations decision making heuristics learned by expert entrepreneurs in uncertain, disruptive situations
    8. 8. Kom verder. Saxion. 8 Means. The basis for decisions and new opportunities: – Who I am – What I know – Whom I know Goals vs means Goals. Given (based on predictions)
    9. 9. Kom verder. Saxion. Affordable Loss. Calculate downside potential and risk no more than you can afford to lose. Risk, Return and Resources Expected Return. Calculate upside Potential and pursue the (risk adjusted) best opportunity.
    10. 10. Kom verder. Saxion. 10 Partnership. Build your “future” together with customers, suppliers and even prospective competitors. Attitude toward others Competition. Set up transactional relationships with customers and suppliers.
    11. 11. Kom verder. Saxion. 11 Surprise • Leverage Surprises. Surprises can present new opportunities. • Avoid Surprises.
    12. 12. Kom verder. Saxion. 12 Underlying logic & what to do To the extent we can predict the future, we can control it. ⇒ PLAN To the extent we can control the future, we don’t need to predict it. ⇒ CO-CREATE
    13. 13. Kom verder. Saxion. Difference in development Falcon Goose Goose
    14. 14. Kom verder. Saxion. Conclusion The adoption of an entrepreneurial approach of the learning process and the knowledge of entrepreneurial methodologies as effectuation seems to be practical aspects to start.
    15. 15. Kom verder. Saxion. Thank you for your attention
    16. 16. Kom verder. Saxion. For more information, suggestions or cooperation, do not hesitate to contact: m.h.m.hammermsc@saxion.nl