Framework

Discovery and creation of opportunities

The question it answers

When weighing a new business idea, should a founder search for an opportunity that already exists in the market, or create one through their own actions?

Origin
Alvarez and Barney, 2007; Zucchella, Hagen and Serapio, 2018
Diagram type
Comparison table
Level of analysis
Individual
Topics
Entrepreneurship & innovation
Rocket lifting off from a glass light bulb, icon for entrepreneurship and innovation

Diagram

Discovery and creation of opportunities

CriterionDiscoveryCreation
Nature of opportunityObjective and independentDependent on action
Entrepreneur's roleFill gapsCreate gaps
Decision contextRiskUncertainty

Sources

References

Listed A–Z by author surname, Harvard style. A source with a DOI links to https://doi.org/…; one without links to its page or says plainly that it has no DOI.

  1. Alvarez, S.A. and Barney, J.B. (2007) ‘Discovery and creation: alternative theories of entrepreneurial action’, Strategic Entrepreneurship Journal, 1(1–2), pp. 11–26.doi:10.1002/sej.4Source page
  2. Zucchella, A., Hagen, B. and Serapio, M.G. (2018) International entrepreneurship. Cheltenham: Edward Elgar Publishing.No DOIe-elgar.comSource page