Mechanism and Framework of Entrepreneurial Opportunity Identification: A Cognitive Information Processing Perspective

Abstract:

Identifying and selecting right opportunities for new businesses are the most important abilities of a successful entrepreneur. It is an important issue to identify quickly entrepreneurial opportunities and make the right decisions in the dynamic environment. Based on the CIP, this paper thinks that entrepreneurs entrepreneurial opportunity identification process is information processing and analysis in substance which is affected jointly by three factors: information resource, entrepreneurial recognition ability, and personality traits and risk tendency. Then this paper constructs the mechanism and framework of entrepreneurial opportunity identification, this framework is helpful to understand the specific mechanism.

• Periodical: Applied Mechanics and Materials (Volumes 380-384)
• Pages: 4623-4627
• DOI: https://doi.org/10.4028/www.scientific.net/AMM.380-384.4623
• Online since: August 2013
• Authors: Ying Kui Zhang, Xin Rui Zhang
• Keywords: Cognitive Information Processing, Entrepreneurial Alertness, Entrepreneurial Opportunity Identification, Information Source

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